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Join Date: Jul 2003
Location: Valencia Pa.
Posts: 8,860
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30 more days, and I am debt free!!
For someone who spent the last 15 years bogged down by heavy debt loads, this is an incredible feat.
With the exception of the mortage on my business property, I owe nobody nothing, $000.000. I started my business 18 years ago with $1200.00 in my bank account , a mediocre set of tools, a jack, four jack stands and a willingness to work my ass off, and do whatever it takes to not have to work for the man every day. I was successful pretty quick, and tried to grow it to the next level about 5 years in. I took on an expensive lease on a huge building, and hired employees, and although we were busy, I was young and inexperienced at running a business that large,and it was hard to crack the nut every month, and in 5 years, I had dug my financial ditch soo deep, I did not think I would ever climb out. I struggled hard for years to keep up, and in just the last 5 years have got my debt down to a manageble level. Now I am done. Somehow, I managed to never slip on payments either, and kept my credit rating in good shape, so I am in a good place right now I have this master plant to quit working full time by the time I am 50. I am 40 now, and paying off all of my past debt was the first and biggest hurdle I had to overcome. I plan on keeping the hammer down for 10 more, years , and if everything works out as I plan, I should be financially independent by then. I am so overjoyed at this feat , I had to share. Thanks for listening.
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No left turn un stoned |
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08-04-2010, 07:02 PM
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Join Date: Oct 2003
Location: Mount Pleasant, South Carolina
Posts: 14,265
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That is awesome! I wish I could say the same ( I only owe a few grand on one card) but the economy the past 3 years has wiped me out. And at 51, I'm finding it difficult to get back where I was.
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08-04-2010, 07:09 PM
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Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,569
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Those of us who know the joy of debt free living salute you!
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent." -Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.) |
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08-04-2010, 07:18 PM
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Slippery Slope Victim
Join Date: Oct 2001
Location: Brooklyn, NY USA
Posts: 4,394
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Congrats! Feel the freedom.
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MikeČ 1985 M491 |
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08-04-2010, 07:22 PM
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Join Date: Jan 2001
Location: So. Cal.
Posts: 9,115
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You couldn't be congratulated enough. Think of the stress you've relieved yourself of that 99+% of others are still dealing with. Go for it !!
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Marv Evans '69 911E |
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08-04-2010, 07:22 PM
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Awesome news! Congratulations.
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A nose heavy airplane flies poorly, a tail heavy plane flies once. |
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08-04-2010, 08:30 PM
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You're no longer an American
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2022 BMW 530i 2021 MB GLA250 2020 BMW R1250GS |
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08-04-2010, 10:11 PM
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83 911 Production Cab #10
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Good for you.
I'm sure that you will but stay out.
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Who Will Live... Will See 83 911 Production Cab #10, Slightly Modified: Unslanted, 3.2, PMO EFI, TECgt, CE 911 CAM Sync / Pulley / Wires, SSI, Dansk Sport 2/2, 17" Euromeister, CKO GT3 Seats, Going SOK Super Charger |
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08-05-2010, 01:25 AM
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"O"man(are we in trouble)
Join Date: Nov 2005
Location: On the edge
Posts: 16,452
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Congrats, now the govt will take a much bigger share.
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08-05-2010, 02:52 AM
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Get off my lawn!
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Quote:
It is a great feeling.
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Glen 49 Year member of the Porsche Club of America 1985 911 Carrera; 2017 Macan 1986 El Camino with Fuel Injected 350 Crate Engine My Motto: I will never be too old to have a happy childhood! |
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08-05-2010, 04:41 AM
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JOT MON ABBR OTH
Join Date: Feb 2001
Location: USA
Posts: 3,238
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Congrats!!!!
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David '83 SC Targa (sold  ) MANLY babyblue honda '00 F250 7.3L (MINE!)'15 F250 Gas (Her Baby) '95 993 (sold )I don't take scalps. I'm civilized like white man now, I shoot man in back. |
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08-05-2010, 04:43 AM
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(the shotguns)
Join Date: Feb 2006
Location: Maryland
Posts: 21,703
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Congratulations!
Through hard work and perserverance you have achieved what every section 8 resident in the country already has.
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***************************************** Well i had #6 adjusted perfectly but then just before i tightened it a butterfly in Zimbabwe farted and now i have to start all over again! I believe we all make mistakes but I will not validate your poor choices and/or perversions and subsidize the results your actions. |
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08-05-2010, 04:58 AM
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Quote:
After all that work you should treat yourself to something nice - like a new SLS AMG. I think Mercedes is financing at .5%.
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. |
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08-05-2010, 05:50 AM
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Join Date: Dec 2005
Posts: 3,384
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Nice! BUT WAIT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Without a primary residence mortgage you have no deductions...you sure you don't want to take a mortgage out on the house? Say you take out $200,000 and buy a commercial property. You will then have a commercial property to rent/use and a deduction because of the mortgage. NO PART OF WHAT I WRITE SHOULD BE CONSIDERED OR TRIED! THIS IS NOT LEGAL ADVICE OR FINANCIAL ADVICE! PROCEED AT YOUR OWN PERIL!!!!! |
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08-05-2010, 06:01 AM
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UnRegistered User
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Welcome to the club!
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Bill K. "I started out with nothin and I still got most of it left...." 83 911 SC Guards Red (now gone) And I sold a bunch of parts I hadn't installed yet. |
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08-05-2010, 06:33 AM
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83 911 Production Cab #10
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Feel Good
Quote:
and I finaly got an Iphone 4...
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Who Will Live... Will See 83 911 Production Cab #10, Slightly Modified: Unslanted, 3.2, PMO EFI, TECgt, CE 911 CAM Sync / Pulley / Wires, SSI, Dansk Sport 2/2, 17" Euromeister, CKO GT3 Seats, Going SOK Super Charger |
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08-05-2010, 07:06 AM
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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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Well Done!!! Now go buy a big house to help our economy! Another car wouldn't hurt either....
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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08-05-2010, 07:19 AM
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that is awesome news!!
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poof! gone |
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08-05-2010, 07:24 AM
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Congrats! I can only imagine!
We're on a three-year plan to eliminate all non-mortgage debt. Sticking to a budget has never been one of my strengths, luckily my wife is much better at it. Can be restrictive on the track time though!
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Aaron '81 911SC RoW Targa |
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08-05-2010, 07:58 AM
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Join Date: Oct 2004
Location: CA
Posts: 5,874
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Quote:
Congrats on the no-debt thing !! |
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08-05-2010, 09:26 AM
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1979 Porsche 911SC
Only Porsche
Only bike
Das Babe
Das Babe Metalberiech
Carrera
1983 Porsche SC
