How much money would it take for you to be 100% debt free?

[getoffmylawn]

 

[Riverbottom]

Greg, you don't get it. Many people have no Debt period. Yes we own houses, shops, boats, and cars without payment books.

 

[GRADS]

Greg, you don't get it. Many people have no Debt period. Yes we own houses, shops, boats, and cars without payment books.

I do get that, and consider yourself fortunate. I just didn’t know there were that many Ballers on here.

 

[Classic Daycruiser]

Just so everyone knows. After bailing out the banks and other assorted financial institutions, 950 Billion of the National debt that has risen since that time is owed to the same banks we bailed out.

according to the National Debt calculator :

https://usdebtclock.org/

I am paying interest on almost $190k

 

[Backlash]

$1,300.00-ish. One credit card that's about to be paid off. I dont owe anyone anything and that's a good feeling.

 

[rivermobster]

Speaking of which, do you remember years ago I posted a thread “what is your mother’s maiden name?” And a bunch of people answered and then I started a thread “who has lowest social security number?”

No....

But that is some Awesome bait you are using!!!

Lol!

 

[monkeyswrench]

I do get that, and consider yourself fortunate. I just didn’t know there were that many Ballers on here.

Ballers and debt free peeps are not one and the same...

I own a house, and my shop on the same property. My riverpad is a pimp doublewide with garages. These are paid for, but by no means baller.

A person who has a badass boat, a massive river or lake pad, and on and on...they are more baller status. When I beach and eat my sammich, and enjoy a beverage, I love when a straight up baller flys by. I highly doubt the guy fliyng by says to himself, "Damn, that's a nice jetboat" or "Wonder if that's paid for?"

I am glad guys do what they do. If they want to take out loans, great. As long as they have the means to make the payments, that's great. I would never have seen half of the cool stuff I've seen if it weren't for people willing to make the payment.

Baller is all perception. Who says the guy sporting an MTI is any more or less "baller" than a guy with Bayliner loaded with hot girls? Both are eye candy. Both should be appreciated by the onlookers

 

[McKay]

I do get that, and consider yourself fortunate. I just didn’t know there were that many Ballers on here.

It’s not always they have to be a Baller, just people who WORK hard. Who don’t believe in debt. Try to be the best in whatever industry you are in. No secret to it. And in 15-20 years it’s not that hard to be debt free and way ahead in the game.

Debt to many, me included is debilitating. Yes it’s a mindset, to many they thrive while in debt. To many of us we can’t thrive and be fulfilled with it.

 

[Ouderkirk]

I'm talking house(s), cars, trucks, boats, student loans, credit cars....any debt you have.

I ran some quick figures and it would take about $380K for us.

For me...debt free is a way of life. Always has been. I drive old cars, and old boats. I pay cash where possible and never finance.

Debt service (interest) is money down the drain.

 

[GRADS]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats. Look how many people have their house paid for. You can look online and see how many of your neighbors have a loan on their house.

 

[Riverbottom]

I do get that, and consider yourself fortunate. I just didn’t know there were that many Ballers on here.

Not a baller, just a small mom and pop business owner. Worked six days a week for many years repairing cars similar to Monkeyswrench. Just learned early I had to be debt free and liquid to make payroll as business can cycle from month to month.

 

[rmarion]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats. Look how many people have their house paid for. You can look online and see how many of your neighbors have a loan on their house.

18,769 RDP members...

how many posted in this thread....

math is not your strong suit...

IMO, the main reason the majority of homeowner do not pay off their homes is due to the average home stay is 7 years..... me personally, we've lived here for 32 years and paid off our home on year 20.... which doing that math..most individuals could easily obtain...

but, then I'm an OLD F!!

Good Luck... I hope the Best for you and yours..

 

[HB2Havasu]

Zero. Been debt free for 7 years now

 

[brgrcru]

its all relative
lets say you have close to 7 million in commercial and residential real estate and owe 700k.
seems like a fair deal to me.
sure it would be nice to have it all paid off. maybe in 10 years?

 

[RCDave]

I do get that, and consider yourself fortunate. I just didn’t know there were that many Ballers on here.

It ain't "Fortunate". Is called HARD work and discipline.

 

[RCDave]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats. Look how many people have their house paid for. You can look online and see how many of your neighbors have a loan on their house.

You're a racist....

 

[LargeOrangeFont]

Ok let me play like the rest of you.....if I add up all my assets and put them against my debt then I guess I owe $0...I feel much better now, kind of like a baller , like everyone else that said zero debt. But I still have an $1800 house payment at the end of the month.

Then yore debt is yore choice. That should make you sleep easier at night.

 

[LargeOrangeFont]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats. Look how many people have their house paid for. You can look online and see how many of your neighbors have a loan on their house.

And what is your point? You are an unemployed rich white guy with a boat that wants to buy a house in Tahoe.

 

[GRADS]

And what is your point? You are an unemployed rich white guy with a boat that wants to buy a house in Tahoe.

And that’s why I am in the top 20 “liked” people on RDP.

 

[nameisbond]

I sold my house and put most of the cash in term deposits. The drawback I've agreed to loan my bank money for a set term. Can't touch that money. So have some credit card debt (no biggie) and my truck is a lease. But the truck is a write off, not really debt. Long way of saying $42k in debt.

 

[LargeOrangeFont]

And that’s why I am in the top 20 “liked” people on RDP.

LOL, you are on the the bottom half.

 

[78Southwind]

My wife has plenty of money in investment accounts that she could easily pay off my 380K in debt....still doesn't mean I have no debt. I think that's what people aren't understanding.

Fixed it for you.

 

[Hallett Dave]

LOL, you are on the the bottom half.

Nada, zero.

Made sure of that before we retired.

We have nice things but we are not ballers by any means.

 

[78Southwind]

Ok let me play like the rest of you.....if I add up all my assets and put them against my debt then I guess I owe $0...I feel much better now, kind of like a baller , like everyone else that said zero debt. But I still have an $1800 house payment at the end of the month.

What about the million dollar loan that you took out? Is that a part of your calculation?

 

[78Southwind]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats. Look how many people have their house paid for. You can look online and see how many of your neighbors have a loan on their house.

Grads if you had a Job or a Small Business in the last 12 years you would have a paid-off house too... Your wife can't do all the work.

 

[monkeyswrench]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats. Look how many people have their house paid for. You can look online and see how many of your neighbors have a loan on their house.

Hold on...this will be my first official, of what may be many...



Wait for it...






Wait for it...








Fuck Off GRADS!




I am a halfbreed whitsican...German and Mexican blood. Pops worked his ass off for a retirement he saw little of, and medical insurance for my Mom...which did little when the cancer came. Due to my Pops' work, I grew up in a nice home, in a nice area. Pops didn't teach me about work and responsibility, he showed me. What I chose to do as an adult was fall on my face, and then remember what I was shown. I choose not to take out loans for new stuff. It's not that I don't want them, I would love to have something like your boat, or any of a hundred others I have seen on this sight. Being in debt can shackle you to things you don't like. People may be afraid to leave a job for something better, knowing what payments are coming each month.

I hustle work for things I feel may be extra. The day to day is covered. If I want to take off and go with the family places, I can. If I need to do things during the week for my kids, I can. My debt is to my family, and not to the banks.

I am not a rich white guy. Lord knows, I'm not a trophy husband. I turned 43 yesterday, and haven't made a payment to a lender since I was 37. I'm not rich, smart or even good looking, but but every once in a while this dog gets a bone

 

[bonesfab]

I owe 260ish on my house. That is the only debt I have. I lIke to say I am shit rich and cash poor.

 

[nowski]

And the correct answer would be...

None of your fucking business!

Too bad this wasn't the first response in this thread, it's the only one that really matters...

 

[CLdrinker]

240k. House, Truck and Toyhauler.

 

[GRADS]

So weird that half this site lives in SoCal where a starter house is 500K but yet no one has a home loan.

 

[NicPaus]

So weird that half this site lives in SoCal where a starter house is 500K but yet no one has a home loan.

Lol. I have a house I just finished and a friend buying 1 a few blocks from it. First nice starter home. 800k. The ones replying paid off are not in their 20s and 30s. You can't buy a house in Compton for 500 unless it needs work.

 

[LazyLavey]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats.

.... you sound like Liz Warren and the other dings...

 

[crzy2bealive]

32 yrs old. 409k home loan. Some credit card debt.

Building a river house soon so prob in debt by another 250k next year even after 30% down.

Had a toy hauler I paid cash for, sold it.

Had a Polaris XP4 I put half down and financed the rest, paid it off, and sold it.

Still have my dually that has barely 50k miles on it.....selling it also. Buying a used truck cash after this one sells.

This allows me to have cash in reserve and build my river house.

Have a boat that I bought cash for 9k 5 years ago, put 9k in maintenance and new thinds, plus 9k in storage.....fuck. Still not selling it.

Probably get back into the desert life a few years from now.

Sent from my SM-G960U using Tapatalk

 

[LargeOrangeFont]

32 yrs old. 409k home loan. Some credit card debt.

Building a river house soon so prob in debt by another 250k next year even after 30% down.

Had a toy hauler I paid cash for, sold it.

Had a Polaris XP4 I put half down and financed the rest, paid it off, and sold it.

Still have my dually that has barely 50k miles on it.....selling it also. Buying a used truck cash after this one sells.

This allows me to have cash in reserve and build my river house.

Have a boat that I bought cash for 9k 5 years ago, put 9k in maintenance and new thinds, plus 9k in storage.....fuck. Still not selling it.

Probably get back into the desert life a few years from now.

Sent from my SM-G960U using Tapatalk

Seems like a good plan, especially if you can ditch the boat storage costs when you buy the house.

 

[brownsuger]

Still have my dually that has barely 50k miles on it.....selling it also. Buying a used truck cash after this one sells.

Tell me about this dually you speak of.....

 

[Done-it-again]

So weird that half this site lives in SoCal where a starter house is 500K but yet no one has a home loan.

Don't forget they paid cash for their boat and river pad as well....... People will stretch the truth on a public forum......

 

[Your ad here]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats. Look how many people have their house paid for. You can look online and see how many of your neighbors have a loan on their house.

What's yore definition of "rich"?

 

[LargeOrangeFont]

What's yore definition of "rich"?

Anyone with a dollar more than him.

 

[brownsuger]

People will stretch the truth on a public forum......

No..... Say it ain't so....

 

[Ladsm]

Zero Car Loans, River house paid for, toys all paid for, renting in CA for a couple more months.

I am on the fence as whether to downsize so we can live in the small 1000sq ft river house and keep banking cash or purchase a 3 bedroom house at the river and rent the small house to snowbirds that hopefully wont wreck it.

 

[Ziggy]

This thread proves what I've been telling RD for years now. RDP is not a realistic view of normal life. It's rich white guys with boats. Look how many people have their house paid for. You can look online and see how many of your neighbors have a loan on their house.

Keep in mind, A large number of the respondents are at the age that their homes should be free and clear or close to it.
My home is 50+ yr old 1500sf 2 car garage and not some big 4000sf mansion with 4500sf of rv garage.

 

[Bpracing1127]

Right now it would take $2,673,471.05 to pay off my debt. My kids are screwed.

that debt goes to
3 houses
Boat
Rzr
Trailer
1 car payment (other two are paid off)
Misc cc

I am a middle aged white guy FWIW

 

[Waterjunky]

I owe money on my house and an investment property. Both have at least 50% equity that's mine. As far as other debt, I have a vehicle loan that started in august 2019 and will be gone by the one year mark. CC's get paid off every month.
I do owe a decent chunk on both properties but am on track to have them both paid off before the kid graduates HS.
The other thing is that both of the properties have good interest rates attached so it is in my favor to leave money invested elsewhere rather than truly pay off as fast as humanly possible. That said I am really looking forward to paying off the house.

 

[Riverbound]

If

So weird that half this site lives in SoCal where a starter house is 500K but yet no one has a home loan.

Duh....its called an online persona. you can be whatever you want.

 

[LowRiver2]

House paid off in 4 years ($100k)
Toy hauler loan ($35k)
That’s it, very simple
And 0 co pay at Kaiser since I got married and $80 more each paycheck because my wife isn’t my domestic partner any longer, good times lol

 

[beaverretriever]

Gosh, remember in 2006 when everyone had a 20 year financed Magic 28 foot deck boat they bought with zero down, 2800sqft home in Vegas, or AZ or Riverside on a 5 year ARM, a boat deep garage home on a similar ARM in Havasu, a hopped up E-Class for the wife on a lease and a leased F-250 with big tires? Oh those were the days.

 

[j21black]

Between us both, probably around 300k. I could pay it all off tomorrow, but that wouldn't make sense.

It looks like my boat may be sold, no time for it with the kids weekend hobbies right now. Will be in another one in 4-5 years.

If the sell closes we will pay off the little owed on my truck, stick the rest in savings or investment accounts, and than apply that now gone monthly truck payment to the truck we bought our daughter last December and pay hers off in a couple months.

I also told my wife last night to start making the house payment x4 monthly going forward. Plan to be debt free in less than 5 years. At that point she might agree to a Formula 40SS, retire and do the great loop.

 

[n2otoofast4u]

Tell me about this dually you speak of.....

You in the market for a dually? I have a badass one on consignment with a member here.

 

[Bigbore500r]

I just walked out of Rent-A Wheel, does that answer your question?

 

[BingerFang]

So weird that half this site lives in SoCal where a starter house is 500K but yet no one has a home loan.

That’s because I sold my home to buy a boat