newb

[medicaldawg]

Hello everyone. Just wanted to hi and im really digging this site. For years I've had this crazy idea floating around in my head that if I could just save half my earned income I could retire early lol crazy untill I found out I wants the only one. So here I sit with just under 120k debt a good wife that's nearly 100 percent on board and ready to retire before we hit 55. I'm 40 she's 43. So that gives us 12 years. Will we make it? We shall see. Our kiddos are 18 and working so those cost are lowering as we speak. Any way that's my run down. Holler if ya want.

[lbmustache]

Nice! What does the debt consist of out of curiosity? Mortgage, cars, credit cards, combination?

[fb132]

WHat is your income and your DW's income?

[jooles]

It's possible to knock out that debt.  I had 110K in consumer debt and 405K in mortgage debt 6 years ago.  Zero debt today.  We paid off the consumer debt and sold the house.  The turn around has been amazing.  Life looks totally different.

You can do this!

[zephyr911]

Hello everyone. Just wanted to hi and im really digging this site. For years I've had this crazy idea floating around in my head that if I could just save half my earned income I could retire early lol crazy untill I found out I wants the only one. So here I sit with just under 120k debt a good wife that's nearly 100 percent on board and ready to retire before we hit 55. I'm 40 she's 43. So that gives us 12 years. Will we make it? We shall see. Our kiddos are 18 and working so those cost are lowering as we speak. Any way that's my run down. Holler if ya want.

$120K isn't a shit-ton of debt if you're a medical dawg. I'm assuming you also have some assets?

[medicaldawg]

Nice! What does the debt consist of out of curiosity? Mortgage, cars, credit cards, combination?

Morgage credit cards medical bills. No auto or personal loans

[medicaldawg]

WHat is your income and your DW's income?

I bring in after taxes 55k she brings in around 65

[fb132]

WHat is your income and your DW's income?

I bring in after taxes 55k she brings in around 65

If you cut to the bare bones, you should be able to eliminate your debt in 2-3 years.

[mozar]

I paid off 120k worth of loans over five years with a gross salary of 55k.