Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years?

I think this thread is getting more responses from people pleased with their lack of debt.

Like me! Zero. Paid off mortgage on $1m property by age 35, paid off $75k student loans by age 27.

I value a debt-minimal life because it allows us to be able to afford private school comfortably on a 250k HHI, as well as decent travel a few times per year. We pay cash for vehicles.

Nothing to be proud of. You poured money into an illiquid vehicle that was likely to appreciate anyway and you could take out extremely cheap debt to cover, missing out on putting all that extra free cash flow into the stock market, which has had a massively historic run up, nearly doubling. You’d have enough cash in the market now to more than pay your house note and would be sitting on - 2.5%-3% rate.

You lost millions in net worth. But at least you can brag about being debt free!

Love that family money! Only those with a financial safety net think the way you do. It’s easy to take so-called risks by capitalizing on investment leverage when the risk you’re taking is being borne by someone else.

+1

Also, did PP buy Bitcoin when they cost $1 each? They'd have way more money than they got from the stock market. Oh right, they didn't because only hindsight is 20/20 and the stock market could just as easily have been cut in half over that time period. In that case, they'd be sitting on those losses on top of the debt they didn't pay off.

This the whole point for you numbskulls: many people don't want to use the roof over their head as a poker chip at the casino, even when the odds are in their favor. Once my mortgage is paid-off and I've got a decent amount in some other, safe diversified investments? Sure, then I'm open to the leverage game.

Right, what you did was colossally dumb. Thinking that the stock market would be cut in half over any time horizon beyond 1-2 years is utter insanity.

The fact that generations before me had money didn’t equip me with a ton of money, it equipped me with the lessons of how to preserve and grow my money by investing as much as early as possible and leveraging smartly. People who didn’t come from this background undoubtedly are susceptible to all sorts of foolish ideas, like paying off your mortgage in between the ages of 22-40 instead of building invested wealth with that money.

“Peace of mind” is an emotional basis. The goal should be to make as much money with the money you have and taking the emotion out of it.

It doesn’t take hindsight to know that it’s myopic and poor money management to pay off your mortgage quickly.

Anonymous wrote:Around $858k mortgage in house now worth around $1.6M.
We collectively paid off or had forgiven all but $10k of about $200k of student loans.

Gotta love when someone living in $1.6M home has their debt forgiven by hardworking taxpayers.

And people wonder why blue collar Americans vote Republican.

Around $858k mortgage in house now worth around $1.6M.
We collectively paid off or had forgiven all but $10k of about $200k of student loans.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years?

I think this thread is getting more responses from people pleased with their lack of debt.

Like me! Zero. Paid off mortgage on $1m property by age 35, paid off $75k student loans by age 27.

I value a debt-minimal life because it allows us to be able to afford private school comfortably on a 250k HHI, as well as decent travel a few times per year. We pay cash for vehicles.

Nothing to be proud of. You poured money into an illiquid vehicle that was likely to appreciate anyway and you could take out extremely cheap debt to cover, missing out on putting all that extra free cash flow into the stock market, which has had a massively historic run up, nearly doubling. You’d have enough cash in the market now to more than pay your house note and would be sitting on - 2.5%-3% rate.

You lost millions in net worth. But at least you can brag about being debt free!

Love that family money! Only those with a financial safety net think the way you do. It’s easy to take so-called risks by capitalizing on investment leverage when the risk you’re taking is being borne by someone else.

+1

Also, did PP buy Bitcoin when they cost $1 each? They'd have way more money than they got from the stock market. Oh right, they didn't because only hindsight is 20/20 and the stock market could just as easily have been cut in half over that time period. In that case, they'd be sitting on those losses on top of the debt they didn't pay off.

This the whole point for you numbskulls: many people don't want to use the roof over their head as a poker chip at the casino, even when the odds are in their favor. Once my mortgage is paid-off and I've got a decent amount in some other, safe diversified investments? Sure, then I'm open to the leverage game.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years?

I think this thread is getting more responses from people pleased with their lack of debt.

Like me! Zero. Paid off mortgage on $1m property by age 35, paid off $75k student loans by age 27.

I value a debt-minimal life because it allows us to be able to afford private school comfortably on a 250k HHI, as well as decent travel a few times per year. We pay cash for vehicles.

Nothing to be proud of. You poured money into an illiquid vehicle that was likely to appreciate anyway and you could take out extremely cheap debt to cover, missing out on putting all that extra free cash flow into the stock market, which has had a massively historic run up, nearly doubling. You’d have enough cash in the market now to more than pay your house note and would be sitting on - 2.5%-3% rate.

You lost millions in net worth. But at least you can brag about being debt free!

You are probably from family money.

I grew up very, very poor with a lot of insecurity in my life. I now never have to worry about money again. I literally never think about it. It automatically transfers into different accounts and savings vehicles, and I spend what I want, which is modest.

It has been incredibly freeing. I spend my time with my family and friends instead of worrying about managing investment property/funds. It’s wonderful.

You know why I came from family money? Because my parents, grandparents, and great grandparents could all build wealth by utilizing leverage.

You’re comparing your gifted privilege to PP’s hard work and honestly earned accomplishment? You’re a veritable skid mark and drag on society!! Who brags about such a dishonorable existence?!?

lol sure. Keep crying.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have about $17M in debt. Sounds horrible, right?

But I also have a NW of $510M. I borrow money as often as I can, invest smartly, and pocket the profits.

You sure it's not a billion? This is the internet - no one is going to check.

Probably will be $1B when I hit 30. But, at my current age of 27, it is definitely still just $510M.

Hey baby millionaire- why are you posting on this website?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have about $17M in debt. Sounds horrible, right?

But I also have a NW of $510M. I borrow money as often as I can, invest smartly, and pocket the profits.

You sure it's not a billion? This is the internet - no one is going to check.

Probably will be $1B when I hit 30. But, at my current age of 27, it is definitely still just $510M.

You're falling behind other kids who made their first Trillion before the age of 19. Slacker.

Anonymous wrote:

Anonymous wrote:I have about $17M in debt. Sounds horrible, right?

But I also have a NW of $510M. I borrow money as often as I can, invest smartly, and pocket the profits.

You sure it's not a billion? This is the internet - no one is going to check.

Probably will be $1B when I hit 30. But, at my current age of 27, it is definitely still just $510M.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years?

I think this thread is getting more responses from people pleased with their lack of debt.

Like me! Zero. Paid off mortgage on $1m property by age 35, paid off $75k student loans by age 27.

I value a debt-minimal life because it allows us to be able to afford private school comfortably on a 250k HHI, as well as decent travel a few times per year. We pay cash for vehicles.

Nothing to be proud of. You poured money into an illiquid vehicle that was likely to appreciate anyway and you could take out extremely cheap debt to cover, missing out on putting all that extra free cash flow into the stock market, which has had a massively historic run up, nearly doubling. You’d have enough cash in the market now to more than pay your house note and would be sitting on - 2.5%-3% rate.

You lost millions in net worth. But at least you can brag about being debt free!

You are probably from family money.

I grew up very, very poor with a lot of insecurity in my life. I now never have to worry about money again. I literally never think about it. It automatically transfers into different accounts and savings vehicles, and I spend what I want, which is modest.

It has been incredibly freeing. I spend my time with my family and friends instead of worrying about managing investment property/funds. It’s wonderful.

You know why I came from family money? Because my parents, grandparents, and great grandparents could all build wealth by utilizing leverage.

You’re comparing your gifted privilege to PP’s hard work and honestly earned accomplishment? You’re a veritable skid mark and drag on society!! Who brags about such a dishonorable existence?!?

Anonymous wrote:I have about $17M in debt. Sounds horrible, right?

But I also have a NW of $510M. I borrow money as often as I can, invest smartly, and pocket the profits.

You sure it's not a billion? This is the internet - no one is going to check.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How do people have such low mortgage balances in the DC area? Are the people responding people who have owned their homes 20+ years?

I think this thread is getting more responses from people pleased with their lack of debt.

Like me! Zero. Paid off mortgage on $1m property by age 35, paid off $75k student loans by age 27.

I value a debt-minimal life because it allows us to be able to afford private school comfortably on a 250k HHI, as well as decent travel a few times per year. We pay cash for vehicles.

Nothing to be proud of. You poured money into an illiquid vehicle that was likely to appreciate anyway and you could take out extremely cheap debt to cover, missing out on putting all that extra free cash flow into the stock market, which has had a massively historic run up, nearly doubling. You’d have enough cash in the market now to more than pay your house note and would be sitting on - 2.5%-3% rate.

You lost millions in net worth. But at least you can brag about being debt free!

Love that family money! Only those with a financial safety net think the way you do. It’s easy to take so-called risks by capitalizing on investment leverage when the risk you’re taking is being borne by someone else.

$2M mortgage, no other debt

230k. We have more than that in savings (stock market, not including our retirement). I’m never getting rid of my sub 3% mortgage.

I have about $17M in debt. Sounds horrible, right?

But I also have a NW of $510M. I borrow money as often as I can, invest smartly, and pocket the profits.

Anonymous wrote:Zero, 49
Agree age matters

Agree. I'm 48 and my spouse 58. We have zero debt at his point.