Are you debt free or not?

[Anonymous]

Anonymous wrote:Two mortgages, one $550K, one $350K. $20K left in student loans. That's it.

What is your HHI to have two mortgages? Just wondering if we are in the ballpark to buy a vacation home.

[Anonymous]

It is kind of weird to me that people are posting stuff like, "Yes I'm debt free except for my (huge) mortgage and student loans." You aren't debt free. You aren't even close.

I'm not debt free either. I owe $200k on my mortgage. Don't kid yourself into thinking that a mortgage isn't debt.

[Anonymous]

Nope, but we are planning to be at retirement - in 18 years.

two mortgages ($340k primary res, $100k investment), $10k in student loans and $15k for a car. Student loan and car will be paid off in a year.

[Anonymous]

We are renters and have no student loans, and we have one more car payment. We will, I guess, be debt free.

We put everything on CCs though, and always pay the balance in full every month. Not sure how that one works - debt or not?

[Anonymous]

Never been in debt, pay cash for everything. I've always been a saver

[Anonymous]

$250,000 mortgage and about to pay off the last of my credit card debt. 42 years old.

[Anonymous]

Anonymous wrote:Two mortgages, one $550K, one $350K. $20K left in student loans. That's it.

um, are you answering becuase you think you are debt free?

[Anonymous]

Not even close to debt free. 400k mortgage, one car loan, and probably 25k in credit card debt. Still much better than a few years ago when we racked up over 50k in credit card debt plus had home equity loan debt in thei neighborhood of 100k. So we're making progress. My goal is to wipe out the rest of the credit card debt by 2015.

[Anonymous]

We just have our mortgage, which has 11 years left on it. Assuming we stay put, we'll pay it off when we are 47 and 50.

[Anonymous]

Anonymous wrote:What do you do to get a nearly 300K bonus?

Very Bad Things.

[Anonymous]

Anonymous wrote:It is kind of weird to me that people are posting stuff like, "Yes I'm debt free except for my (huge) mortgage and student loans." You aren't debt free. You aren't even close.

I'm not debt free either. I owe $200k on my mortgage. Don't kid yourself into thinking that a mortgage isn't debt.

+1. Since when is a few hundred thousand dollars not debt, just because it's backed by real estate? Have we already forgotten 2008?

And student loans are even worse, because you can't get rid of them unless you die.

Debt is debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Two mortgages, one $550K, one $350K. $20K left in student loans. That's it.

um, are you answering becuase you think you are debt free?

Really, you are so far from debt free, I'm not sure why you responded. You are over $900K in debt. Unless your annual income is over $1M, and you are just stashing away money because you have some way of earning more on your money than you pay in mortgage interest, you are the furthest from debt-free of all the responses yet.

[Anonymous]

It's easy to be debt free when your HHI is unusually high (or incredibly low as someone pointed out). Not impressive at all.

[Anonymous]

We are 100% debt free. No student loans, cc or mortgages. Dh recently paid off a mortgage in another city that he rents out and then we rent here. We are in our late 20s/early 30s no kids, with hhi around 180-200k gross. It feels wonderful..so much more flexibility. I hate feeling like a slave to the system.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Two mortgages, one $550K, one $350K. $20K left in student loans. That's it.

um, are you answering becuase you think you are debt free?

The question was "are you debt free or not?" That doesn't imply to me that only people who are debt free are allowed to answer.