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SVTPerformance's Chain of Restaurants
Road Side Pub
Liquid Assets and Expensive Car Purchase
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<blockquote data-quote="nickf2005" data-source="post: 15730697" data-attributes="member: 136350"><p>You just contradicted yourself here. First you say that it can't pay off your mortgage, but then say you live 100% debt free. Sorry, not possible. Even though a mortgage is looked upon as "good" debt, it's still debt. You owe somebody for the money they lent you.</p><p></p><p>I'm not saying you shouldn't have a little fun with the new found funds. However, I think the growing consensus here is to get that mortgage gone. Make sure your savings is padded with AT LEAST 6 months expenses, if not 12. Make a big principal payment on your mortgage. Maybe step down the car purchase something cheap yet fun for the moment. Get the mortgage paid off over the next few years, then take your mortgage payment and start socking it away. 5-6 years from now your sitting with no car payment on a Vette and no mortgage. Now, that's 100% debt free living.</p></blockquote><p></p>
[QUOTE="nickf2005, post: 15730697, member: 136350"] You just contradicted yourself here. First you say that it can't pay off your mortgage, but then say you live 100% debt free. Sorry, not possible. Even though a mortgage is looked upon as "good" debt, it's still debt. You owe somebody for the money they lent you. I'm not saying you shouldn't have a little fun with the new found funds. However, I think the growing consensus here is to get that mortgage gone. Make sure your savings is padded with AT LEAST 6 months expenses, if not 12. Make a big principal payment on your mortgage. Maybe step down the car purchase something cheap yet fun for the moment. Get the mortgage paid off over the next few years, then take your mortgage payment and start socking it away. 5-6 years from now your sitting with no car payment on a Vette and no mortgage. Now, that's 100% debt free living. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Liquid Assets and Expensive Car Purchase
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