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Tafkam Hokie

Joined: 10/07/1999 Posts: 35179
Likes: 13640

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The financial, emotional, and intellectual freedom of having no debt


really is underrated and bordering on priceless.

I've been debt-free for almost five years now. Yes, it's been nice, but it didn't hit me how awesome it was until Covid nuked the economy and I was out of a job for eight months. Eight months of unemployment would wreck most people. But honestly, I was fine. The only real stress I was under for eight months of unemployment was the stress of being bored. I don't think a person can get to that place financially without being debt-free.

We are so conditioned to think of debt as normal, it's kinda hard to grasp not having any until you are actually there. And once you are, you never want to go back.

I know being debt-free wasn't the original question, but borrowing money just to invest it definitely kicks the debt free can down the road quite a bit.

(In response to this post by HokieJay)

Posted: 10/26/2021 at 09:33AM


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Current Thread:
 
  Question for you investing types -- HokieMacDaddy 10/25/2021 10:22AM
  I’m in the minority here as I just did same. Refi mortgage at 2-3% and i -- DonHo-kieHi 10/26/2021 09:06AM
  I paid off my mortgage 3 months ago. -- HokieJay 10/25/2021 8:23PM
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  The market is in a downturn? When did this happen? ** -- Brown Water 10/25/2021 1:45PM
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  It's coming water. -- HokieJay 10/25/2021 9:33PM
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  True dat, it sure is. ** -- HokieJay 10/26/2021 12:05AM
  We'll see what my 4th quarter returns look like... -- EDGEMAN 10/25/2021 7:16PM
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  Nope, our economy is in trouble. ** -- EDGEMAN 10/25/2021 8:45PM
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  Depends on a lot of factors -- HokieAl 10/25/2021 11:59AM
  Don't -- 1987Hokie 10/25/2021 11:45AM
  Doge! ** -- ModerateHokie 10/25/2021 11:35AM
  Thanks everyone - that's about what I figured ** -- HokieMacDaddy 10/25/2021 11:28AM
  I would not do it... -- Hungry Joe 10/25/2021 11:28AM
  The play is to retarget your existing cash + portfolio to impending doom -- Vtskier1 10/25/2021 11:12AM
  Put it all in Dog Money ** -- Happy Dog 10/25/2021 11:05AM
  Ain't legal . . . and ain't tender . . . -- MikeVT85 10/25/2021 4:01PM
  Scratch-off lottery tickets. ** -- HokieNoVA 10/25/2021 11:02AM
  Don’t ever do this ** -- VT Pops 10/25/2021 10:55AM
  Lieutenant Dan got Forrest invested in some kind of fruit company. (pic) -- Spud 10/25/2021 10:55AM
  If you just do the math, borrowing money at x% to invest that returns x+y% -- Tafkam Hokie 10/25/2021 10:53AM
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  I had a friend that lived in DC area when prices really went up -- bigbadbird 10/25/2021 10:45AM
  Pork bellies ** -- Brown Water 10/25/2021 10:44AM
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  If your friend did that, he is certainly up and boasting about it. -- HokieSignGuy 10/25/2021 10:31AM
  I wouldn't do that for several reasons ... -- vt90 10/25/2021 10:30AM
  1) you're not an idiot? ** -- bigbadbird 10/25/2021 10:37AM
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  Yes- gamble with your house- do that - brilliant ** -- bigbadbird 10/25/2021 10:25AM

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