Author Topic: I am completely DEBT FREE. (Read 6346 times)

lexde · « **on:** March 31, 2019, 12:40:28 PM »

As of last night, I don’t owe ANYONE a single cent.

Six figures of law school loans...PAID.
Veterinary surgery debt... PAID.

Four long years. Now, I am free! Next chapter begins. :-)

Edited: "own" to "owe", thanks autocorrect!

KathrinS · « **Reply #1 on:** March 31, 2019, 12:51:08 PM »

Congratulations, that's great news!

BicycleB · « **Reply #2 on:** March 31, 2019, 01:06:53 PM »

Well done, Lexde!

Candace · « **Reply #3 on:** March 31, 2019, 02:23:20 PM »

Congratulations! Well done.

OtherJen · « **Reply #4 on:** March 31, 2019, 03:37:09 PM »

Congratulations!

Brother Esau · « **Reply #5 on:** March 31, 2019, 05:03:13 PM »

Good on you Lexde! Are you going to call Dave Ramsey and do a debt free scream?

lexde · « **Reply #6 on:** March 31, 2019, 05:34:34 PM »

Quote from: Brother Esau on March 31, 2019, 05:03:13 PM

Good on you Lexde! Are you going to call Dave Ramsey and do a debt free scream?

Unfortunately my love of free vacations and travel through credit card churning disqualify me squarely from anything Ransey-esque. Still, I'm doing my own happy dance!

SwordGuy · « **Reply #7 on:** March 31, 2019, 06:13:27 PM »

That's great!! We're all proud of you!

FIREby35 · « **Reply #8 on:** March 31, 2019, 06:25:47 PM »

That is super cool. Congratulations. Enjoy it.

lizh · « **Reply #9 on:** March 31, 2019, 08:15:07 PM »

Congratulations! Can't wait until I get there.

Archipelago · « **Reply #10 on:** March 31, 2019, 08:26:44 PM »

Congratulations! :D

nancy33 · « **Reply #11 on:** March 31, 2019, 09:20:22 PM »

Congratulations!!!!feels awesome doesn’t it?!?

11ducks · « **Reply #12 on:** March 31, 2019, 10:44:01 PM »

Congratulations!!!! It must be so nice to see your hard work going into a positive net worth - now you get to keep the money you make!!!

Monocle Money Mouth · « **Reply #13 on:** April 01, 2019, 05:08:47 AM »

Great job! Now instead of calculating net worth, you can just calculate worth :D

lexde · « **Reply #14 on:** April 01, 2019, 05:18:29 AM »

Quote from: mies on April 01, 2019, 05:08:47 AM

Great job! Now instead of calculating net worth, you can just calculate worth :D

That never occurred to me. Cool! :-)

lexde · « **Reply #15 on:** April 01, 2019, 05:18:52 AM »

Quote from: lizh on March 31, 2019, 08:15:07 PM

Congratulations! Can't wait until I get there.

It will come sooner than you think! Keep being badass. :-)

Brother Esau · « **Reply #16 on:** April 01, 2019, 05:21:00 AM »

Quote from: lexde on March 31, 2019, 05:34:34 PM

Quote from: Brother Esau on March 31, 2019, 05:03:13 PM
Good on you Lexde! Are you going to call Dave Ramsey and do a debt free scream?
Unfortunately my love of free vacations and travel through credit card churning disqualify me squarely from anything Ransey-esque. Still, I'm doing my own happy dance!

Me too on a number of accounts, but that's a whole other conversation.

lexde · « **Reply #17 on:** April 01, 2019, 05:34:00 AM »

Quote from: Brother Esau on April 01, 2019, 05:21:00 AM

Quote from: lexde on March 31, 2019, 05:34:34 PM
Quote from: Brother Esau on March 31, 2019, 05:03:13 PM
Good on you Lexde! Are you going to call Dave Ramsey and do a debt free scream?
Unfortunately my love of free vacations and travel through credit card churning disqualify me squarely from anything Ransey-esque. Still, I'm doing my own happy dance!

Me too on a number of accounts, but that's a whole other conversation.

Dave Ramsey is good for managing emotional issues surrounding finances, especially people who have been in denial or who have avoided getting their finances together or back on track. From the numbers perspective, he does not optimize anywhere. It makes sense to follow him if you have no financial literacy whatsoever, or if you need more of a “money therapist” then a actual financial advisor. So, I feel like the Venn diagram of people who follow Ramsey versus people who follow Mr. Money Mustache is very limited in overlap if there really is any at all. That said, he does good work for his base.

hops · « **Reply #18 on:** April 01, 2019, 05:59:44 AM »

Congratulations! I'm looking forward to the next chapter of your story (the bad-ass landlord one, perhaps?).

Metta · « **Reply #19 on:** April 01, 2019, 09:32:59 AM »

Congratulations! That is a wonderful feeling.

calimom · « **Reply #20 on:** April 01, 2019, 09:39:25 AM »

Well done, you!

FireHiker · « **Reply #21 on:** April 01, 2019, 12:13:49 PM »

Congratulations!!!

I right there with you on Ramsey, particularly with credit card hacking for travel. He isn't all bad, and I think many people could benefit from applying his principles to their lives, including far too many people I know personally. I look at DR as "general ed" and MMM as "higher education". :)

LifeHappens · « **Reply #22 on:** April 01, 2019, 01:20:00 PM »

Congratulations! Paying off your law school debt in 4 years is a major accomplishment.

Tyson · « **Reply #23 on:** April 01, 2019, 04:01:24 PM »

Congrats. Now that you'll be investing, you can stop paying other people to use their money, and other people will start paying you to use yours!

AlotToLearn · « **Reply #24 on:** April 01, 2019, 05:20:34 PM »

Congrats - great achievement!

EricL · « **Reply #25 on:** April 01, 2019, 07:49:01 PM »

Congratulations! Enjoy the feeling of freedom; never put the shackles on again.

lexde · « **Reply #26 on:** April 02, 2019, 07:04:12 AM »

Quote from: EricL on April 01, 2019, 07:49:01 PM

Congratulations! Enjoy the feeling of freedom; never put the shackles on again.

You know it! A strategic mortgage when I find the right RE deal, but that’s it. :-)

Cool Friend · « **Reply #27 on:** April 02, 2019, 07:52:05 AM »

HELL YEAH

FireLane · « **Reply #28 on:** April 02, 2019, 08:29:33 AM »

Awesome, congrats! It's a wonderful feeling to know you don't owe nuthin' to nobody.

I have a little bit of student loan debt kicking around that I haven't paid off, because it's at a low interest rate and it hasn't seemed worth it. But some day soon, before I FIRE, I'm going to put the hammer down and kill it off for good. That's going to be a good day.

lexde · « **Reply #29 on:** April 02, 2019, 11:48:40 AM »

And for those of us who like charts, here are the last three years of my progress in chart-form!

Bracken_Joy · « **Reply #30 on:** April 02, 2019, 11:55:20 AM »

Lexde!!! That’s awesome! Congratulations.

BlueHouse · « **Reply #31 on:** April 02, 2019, 12:18:51 PM »

I love charts and that's an awesome result! Congratulations on a job well done!

Tyson · « **Reply #32 on:** April 02, 2019, 02:04:51 PM »

Very nice! You're gonna hit $100k in no time.

Samuel · « **Reply #33 on:** April 02, 2019, 02:09:23 PM »

Awesome!

You're done rowing into the wind. Take a moment to appreciate the feeling then get back on the oars, the wind is building at your back now and every stroke takes you farther than the one before. Keep focused and soon enough the rowing will become optional.

marty998 · « **Reply #34 on:** April 02, 2019, 02:45:57 PM »

Quote from: Samuel on April 02, 2019, 02:09:23 PM

You're done rowing into the wind. Take a moment to appreciate the feeling then get back on the oars, the wind is building at your back now and every stroke takes you farther than the one before. Keep focused and soon enough the rowing will become optional.

I like that analogy, and I really like the sexy graph Lexde! Well done.

Serendip · « **Reply #35 on:** April 02, 2019, 07:57:55 PM »

Quote from: lexde on April 01, 2019, 05:34:00 AM

Quote from: Brother Esau on April 01, 2019, 05:21:00 AM
Quote from: lexde on March 31, 2019, 05:34:34 PM
Quote from: Brother Esau on March 31, 2019, 05:03:13 PM
Good on you Lexde! Are you going to call Dave Ramsey and do a debt free scream?
Unfortunately my love of free vacations and travel through credit card churning disqualify me squarely from anything Ransey-esque. Still, I'm doing my own happy dance!

Me too on a number of accounts, but that's a whole other conversation.
Dave Ramsey is good for managing emotional issues surrounding finances, especially people who have been in denial or who have avoided getting their finances together or back on track. From the numbers perspective, he does not optimize anywhere. It makes sense to follow him if you have no financial literacy whatsoever, or if you need more of a “money therapist” then a actual financial advisor. So, I feel like the Venn diagram of people who follow Ramsey versus people who follow Mr. Money Mustache is very limited in overlap if there really is any at all. That said, he does good work for his base.

Agreed--Ramsey helped me at the VERY initial stage of feeling like I was helpless--it was absolutely therapeutic since at that point, I felt like a real dum-dum regarding anything financial. I used the snowballing method to save an EF & pay off a chunk of debt so I am thankful but after a certain point, I needed a very different approach :)

Serendip · « **Reply #36 on:** April 02, 2019, 07:58:21 PM »

And CONGRATS @lexde :) So awesome!

honeyfill · « **Reply #37 on:** April 02, 2019, 09:12:52 PM »

Great job lexde! That net worth is going to soar now that your debt payments are going to build up investments instead of paying off debt. It wont be long before your yearly investment returns overtake your yearly savings.

BicycleB · « **Reply #38 on:** April 04, 2019, 10:42:48 AM »

Quote from: lexde on April 02, 2019, 11:48:40 AM

And for those of us who like charts, here are the last three years of my progress in chart-form!

A picture is worth a thousand words. Which in this case are worth about $54 apiece!

Parizade · « **Reply #39 on:** April 07, 2019, 04:57:55 PM »

Quote from: lexde on April 02, 2019, 11:48:40 AM

And for those of us who like charts, here are the last three years of my progress in chart-form!

This is a thing of beauty. Well done!

Trifle · « **Reply #40 on:** April 08, 2019, 04:33:13 AM »

Congratulations @lexde ! Fantastic! :)

Little Aussie Battler · « **Reply #41 on:** April 08, 2019, 05:24:26 AM »

"I am completely debt free."

Well done! I bet it felt pretty good to write that down.

catorbe · « **Reply #42 on:** April 08, 2019, 10:55:22 AM »

This thread makes me excited to say the same when the time comes!!! Will update when I have a more tuned in ETA for no debt.

lexde · « **Reply #43 on:** April 08, 2019, 11:50:09 AM »

Quote from: catorbe on April 08, 2019, 10:55:22 AM

This thread makes me excited to say the same when the time comes!!! Will update when I have a more tuned in ETA for no debt.

I can't wait to post in YOUR thread! :-)

FIREby35 · « **Reply #44 on:** April 11, 2019, 07:20:30 AM »

Lexde - Now that you are debt free, when are you going to start lawyering like you dreamed you would?? :)

brandon1827 · « **Reply #45 on:** April 11, 2019, 07:23:53 AM »

That's an amazing accomplishment, congratulations!!!!

StarBright · « **Reply #46 on:** April 11, 2019, 07:26:16 AM »

Congrats!

lexde · « **Reply #47 on:** April 11, 2019, 07:31:24 AM »

Quote from: FIREby35 on April 11, 2019, 07:20:30 AM

Lexde - Now that you are debt free, when are you going to start lawyering like you dreamed you would?? :)

The pro bono solo work will come once I'm FIRE. Hopefully within 10 years before I hit 40. :-) Right now on cruise control with my job (steady upward trajectory, large pay increase via incentive billing structure coming October 2019 should put me in 6-figures). May happen much sooner depending on how the multifamily purchase I'm looking to make goes. :-)

lexde · « **Reply #48 on:** April 12, 2019, 07:42:12 AM »

Quote from: Buffalo Chip on April 12, 2019, 05:11:12 AM

Quote from: lexde on April 11, 2019, 07:31:24 AM
Quote from: FIREby35 on April 11, 2019, 07:20:30 AM
Lexde - Now that you are debt free, when are you going to start lawyering like you dreamed you would?? :)
The pro bono solo work will come once I'm FIRE. Hopefully within 10 years before I hit 40. :-) Right now on cruise control with my job (steady upward trajectory, large pay increase via incentive billing structure coming October 2019 should put me in 6-figures). May happen much sooner depending on how the multifamily purchase I'm looking to make goes. :-)

Good for you. Question for you: what do you mean by multi family purchase and how is that going to get you to FIRE sooner?

I'm looking at using my FHA loan to get a multi-family property (duplex, triplex, or four-plex instead of a traditional single-family) to lower/eliminate housing expenses and hopefully generate some positive cash flow on top of that. :-)

BicycleB · « **Reply #49 on:** April 12, 2019, 02:48:44 PM »

Sounds awesome. Keep us posted!

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Author Topic: I am completely DEBT FREE. (Read 6346 times)

EricL