How did you celebrate when you paid your last debt off?


#21

No story at all. Dave Ramsey is great and motivating when you’re in the “too much/I hate debt” phase, but becomes almost irrelevant as you transition into asset accumulation stage. In the asset investment phase, I got interested in indexing (e.g. boggleheads), dividend growth, and real estate investing (e.g. biggerpockets).

Of course there is the very first “I don’t know that I have a problem” phase which is where many of Suze Orman’s audiences are: “Suze, I have 50k cc debt and make 24k a year, but I really love and deserve this BMW 335 because I work so hard. Can I afford it? — DENIED!” :laughing:


#22

There’s a lot to be said for those (Dave and Suze) who help people wake up and see the light. But yeah, beyond waking up and getting out of debt there’s not much there. Not that it’s a bad thing, they help millions of people each year. You just need to transition to a different path (and leader/teacher/guru) when you get beyond the “baby steps.”

Actually, Dave talks all the time about how he himself invests heavily in real estate, but it just not something he is known for teaching how to do.


#23

Well, I think he doesn’t tell people about the real estate as much because the only way he recommends to buy real estate is in cash with no mortgage and I think most people aren’t willing to do that. He does commonly talk about real estate earning him some great returns though.


#24

I guess in a way I’m taking a trip to New Zealand and Ireland in the year after I paid off my house. I might have gone on one of these trips anyway but with the amount of cash flow I have now it was almost too easy to click purchase on the plane tickets. (Ireland was a great deal so I decided why the heck not although it will be a short trip)


#25

Drool. :grin:


#26

Like @Andrei, I celebrated my newfound freedom with pizza. I watched a movie too :smiley:


#27

That actually sounds amazing. I like pizza and a movie too. And so does my wife. Maybe that’s what we will do!


#28

You should have seen it @DerekOlsen, I needed both hands to lift it up!


#29

Haven’t become debt free yet; not trying to crash the party; but when we do (about another year - mortgage), we plan to have a nice night out, then save up for a trip out of the country. So Id say itll be about a year in planning then woohoo!


#30

Party time! That’s what I’m talking about!!