Independence Day!

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EmilyFoxSeaton

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I have been working.. it seems like years... to have the amount of liquid assets and cash that I have be equal to the amount owed on my mortgage. (Independence Day from the bank)  So that if I lost my job I would have the ability to not have the bank foreclose. Finally, I have reached that point. 

Though it still comes with tweaks.. a lot of it is retirement which I cannot touch without a penalty (though I can take a loan) and thanks to property taxes and condo fees even if I paid off the real estate I would need to work to pay off about $700 per month.
 
Well congradulations, girl!
I don't know anything about buying houses or mortgages and the like, but if you're happy it's a good thing ;-)
 
Richard_39 said:
Well congradulations, girl!
I don't know anything about buying houses or mortgages and the like, but if you're happy it's a good thing ;-)
Click to expand...

Thanks .. assume your an apartment dweller then?
 
Hey this is awesome. Congrats. This is quite an accomplishment. You worked hard and reached your goal. :) 

This kind of thing always makes me happy to read. I feel like there is not enough appreciation for these kinds of things here for whatever reason. I think your accomplishments deserve much celebration.

Keep it up!
 
kamya said:
Hey this is awesome. Congrats. This is quite an accomplishment. You worked hard and reached your goal. :) 

This kind of thing always makes me happy to read. I feel like there is not enough appreciation for these kinds of things here for whatever reason. I think your accomplishments deserve much celebration.

Keep it up!
Click to expand...

Oh wow, thanks.  My next goal is to purchase an investment property where I can have enough profit to have a sustainable source of income to pay off the property taxes and fees.
 
EmilyFoxSeaton said:
Richard_39 said:
Well congradulations, girl!
I don't know anything about buying houses or mortgages and the like, but if you're happy it's a good thing ;-)
Click to expand...

Thanks .. assume your an apartment dweller then?
Click to expand...

LOL Hayup. Been paying child support since I was 22, so that kind of precludes any chance to own a home. As in ever ;-)
Well, unless I marry myself a nice, rich pharmacist, or that I work until I'm 80 something, neither of which are particularly appealing, the first because I'm not the calculating type, the second because my bones will be hurting so much it'll be like swimming the Atlantic daily ;-)
Know a little bit of it. Didn't know there was a concept like Independance day that existed, though. Then again, my only example is my dad and he paid for his house all in one shot lol. Pays to be a fireman it seems.
 
Richard_39 said:
Know a little bit of it. Didn't know there was a concept like Independance day that existed, though. Then again, my only example is my dad and he paid for his house all in one shot lol. Pays to be a fireman it seems.
Click to expand...

I stole it from a friend who had an independence day celebration when she reached retirement age and could retire anytime.  Yup... government employment is the way to go.
 
Hey with my job i listen to podcasts non stop. 10+ hours a day usually.

You might already know about it but biggerpockets.com and the bigger pockets podcast might be really good resources for you. :) Their focus is real estate.

I bought three books from them so far.

Also "Wholesale Inc. By Investor Grit" is a really good podcast for people wanting to get into wholesaling real estate. A lot of extremely actionable stuff in this one.

These two podcasts do a really good job of showing me what is possible and its cool to see all of the many different paths and creative ways that people make real estate work. I also get super motivated and fired up when i binge listen to these two podcasts.
 
I just found bigger pockets last week. I am still looking around.  Not sure I love it because a lot of the best stuff is part of their paid service and I won't pay for potentially dubious advice. Also there seems to be a lot of ads. I joined looking for a real estate investment partner. 

I will see about that wholesale inc. book. I never heard of it before joining bigger pockets. 

Don't know about podcasts because I can't really listen to those during my work but I suppose I could on the train.
 
Richard_39 said:
EmilyFoxSeaton said:
Richard_39 said:
Well congradulations, girl!
I don't know anything about buying houses or mortgages and the like, but if you're happy it's a good thing ;-)
Click to expand...

Thanks .. assume your an apartment dweller then?
Click to expand...

LOL Hayup. Been paying child support since I was 22, so that kind of precludes any chance to own a home. As in ever ;-)
Well, unless I marry myself a nice, rich pharmacist....

Count me OUT! Been there done that (was victimized a.k.a.....) I was a 'rich' pharmacist but never truly RICH, only using the income to leverage how much I (well, then we) could buy and pile up a crapload of debt.

Good for you Emily! What an accomplishment. I have a negative net worth at almost 43 years of age. That being said, I am a homeowner and I have a decent level of equity in my home, and home values are increasing rather rapidly where I live (not to the point of bubble worries, but decently)....I am turning a new leaf however and my monthly mortgage is a svelte $464 a month in a city with rents easily more than double that for a comparable place =)

No car loan either. My current vehicle is a 2009 Hyundai Santa Fe with just shy of 200,000 miles. With the income from home I'm not really needing to buy anytime soon, either =)

Just the tiny $50K mortgage add to that $70K cr card debt. Ugh, but my condo is valued at about 90K.....
It puts me at great ease to know I can at least afford my mortgage. Now, the $1800 child support payment monthly - that's a different story :/ Had to pay the last one on a credit card convenience check.....
Click to expand...
 
I got laid off earlier this year and I realized I could go 35 years without getting a job.
But that's a lot of time to sit on the couch twiddling my thumbs so I got another job.
 
blackdot said:
I got laid off earlier this year and I realized I could go 35 years without getting a job.
But that's a lot of time to sit on the couch twiddling my thumbs so I got another job.
Click to expand...

Well, I got laid off once and was all excited. Free unemployment for 27 weeks? Sweet! But then, I went 4 weeks with nothing to do and no ability to spend money and pretty much went insane. I got another job.  That said, sometimes I feel that was foolish as now I have 13 years left before I can leave my job for retirement. I should have had more fun.
 
My state pretty much got rid of unemployment because it helped people that were poor.

When I got laid off back in 2003, it did stress me out a whole bunch. This time, I got used to it really quickly and found it way too relaxing.
 

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