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- Denver, CO
That sounds like a good long term vision.
US Diesel's big splash introduction
- Thread starter Monterra
- Start date
We went debt-free in '95 when I was 40, thanks to a combination spending discipline, two incomes, and lower material expectations. It opens a whole new world when it comes to retirement savings and what you'll be able to do once you finally have the time. Think a real international vacation every other year and a modest vacation house in the southern USA.
Brian
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- RDX Aspec Adv.
I only have 1 income, and that is not going to change, and I have the spending habits of a drunk Paris Hilton, that said, I'm trying. So far I have whittled down my CC debt to $4500ish, and other than my house, property, and CX5, that's it. Income is quite solid for an early 30's nobody. Should have CC wiped by the end of the year, property done by 40, and the house by 45 or 50 is my fantasy.
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- 2014 CX-5 Touring White
I started paying off multiple debts at 32 and totally debt free for almost 15 years. Absolutely the best goal achieved. I highly encourage you to stick with it. We are middle income with no kids.
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- 2021 CX-9 Sig
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- 2021 CX-5 GT
Hey, when I first looked into the CX-5, your blog was one of the best sites about the CX-5! Add to the fact you are a fellow cyclist was icing on the cake! Do you still have the 2013 CX5?
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- 2014 CX-5 Touring White
Thanks for feedback. I appreciate it. I use it as my daily driver and on long trips. We are at beach in the gulf now and put the bike in the cargo area of the CX-5 along with all the luggage instead of using the hitch rack. It still runs great and serves us well.
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- RDX Aspec Adv.
Thanks! Yeah, it's my goal. Killing the house is the big one I'm waffling on. I know what I should do, but do I want to spend from age 40 to 50 denying myself so I can? Or just pay the interest to march it out, while enjoying things more. I'm at 3.75%, fixed 30y, so it could be worse.
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- CX5
Im 50. Been debt free since 45. But September last year, got my diesel CX-5 and im indebted again for the next 4 years. After a year of paying $650/month, h ask myself "when is this gonna end". [emoji16]
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- RDX Aspec Adv.
650 a month on a solid income disappears though. It's all the other 650s per month that get you!
That's OK, I'll bring it back on topic with a picture of the engine bay
It didn't stay back on track long. (nana)
I paid my first house off in 7 years, and my second in 8 years at 38 years old, last house was paid in cash.
If you want to be debt free then don't buy things on tick, every car I have bought has been cash, its the cheapest way to buy a car IMO.
Interest deductible house debt- ie 30yr fixed@3.75 is fine everything else is not! I'm half done on my 15@3.25 and despite the fact I could knock it out today, gotta resist that urge(majority of the mtg interest is paid in front half don't forget) but I'm a pretty disciplined saver and like seeing bank accounts and investments grow so I'll keep making the monthly payments while paying cash for everything else. Not actual cash I use cash back credit cards but always pay them in full every time.
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- Denver, CO
That's OK, I'll bring it back on topic with a picture of the engine bay
Damn you should see how dirty mine is.
As for me, my current debt is just my CC as well. Hope to have all that payed off in a couple years. I didn't go to school past a year, so no student debt, I don't currently own a home, but that is something I would aspire to do in the future. That said, home prices in my area are stupid expensive, so it's just not on the table at the moment unless I came into a stupid amount of money. CX-5 has been payed off for a while now.
Single income as well, pretty good income too, but the rising cost of living out here isn't making it feel as much as it should. That said, also started a small business with a good buddy/colleague of mine. We'll see how that progresses over the next year.
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- RDX Aspec Adv.
That is part of why I moved to the location I'm in, now. My single person income gets me a newer (*2006) 1600sf house, hardwood floors, vaulted ceiling livingroom, 2 stories, and nearly 13 acres of meadow, forest, and river you can kayak and fish. I priced CO, but Californians already ruined the laws and the real-estate. Sure is pretty though!
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- Denver, CO
Yep. Spot on with your description of CO. I love it here (pretty), but not particularly happy with the other aspects of the state, mainly its Californication in both politics, laws, housing prices, population boom. I have a lot of acquaintances here that at this point are looking to either get as far away from Denver as possible, or leave CO altogether. It's like, so you ruined California with your BS and now come to our state to do the same? We have a joke (sad one) and call if Colofornia a lot now.
And you can see how many people have moved here over the last decade just by observing the driving. Coloradans by nature tend to be very laid back drivers, and 10+ years ago, it was a lot more courteous laid back driving here. But now all the transplants have brought their bulls*** driving habits from wherever the hell they moved from (California, Texas, east coast, whatever), and Coloradans are having to adapt as well, and now it's a lot worse.
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Nope