How we paid off our house in three years

[n a m]

How we paid off our house in three years


All I can say is WOW...

[daytonarfd]

incredible!

[Magoomba]

Somehow that doesn't sound right.
I don't care how frugal they are, there's no way you're going to save 80%. If the guy worked 4 jobs, he would have been taxed through the nose.

[trusoulja2g]

My family paid off the mortgage on our first house in 3 years, but that was on a $148K house with 25% down. Back when my parents and their friends were buying houses <$200K, paying off in 3-5 years was standard.

[Chookman]

Somehow that doesn't sound right.
I don't care how frugal they are, there's no way you're going to save 80%. If the guy worked 4 jobs, he would have been taxed through the nose.

He said 80% of their AFTER TAX income was saved.

[pipolchap]

i can't wait to pay off my mortgage!

...so who do i contact at RBC to make 20% annual prepayments? i can't see that as being negotiable.

[Wiseman]

Is it worth it? All the stress and abuse his body took during those 20 hour work days will probably take 10 years off his lifespan.

[Sylvestre]

this article (along with others in a similar vein) was recently featured in Moneysense. Either the latest issue or the previous month. Not that bad of a read.

IMHO, not worth it. Sure, he went from debt to having 400K in equity (but not usable cash), but he hasn't had a single vacation, doesn't have a single story to tell people and who knows what his social life is like.
Personally, I'd rather enjoy the company of friends, be able to go to the caribbean/europe occasionally, and overally, enjoy a nice meal rather than be 100% debt free.

Quality of life is more important than the dollar figure of my bank account.

[Tofu Drift Shinji]

Wow... that's incredible. That guy is certainly a role model. I don't envy the 99 hour work week, but I could learn a thing or two about saving money from him!

[Bullseye]

this article (along with others in a similar vein) was recently featured in Moneysense. Either the latest issue or the previous month. Not that bad of a read.

IMHO, not worth it. Sure, he went from debt to having 400K in equity (but not usable cash), but he hasn't had a single vacation, doesn't have a single story to tell people and who knows what his social life is like.
Personally, I'd rather enjoy the company of friends, be able to go to the caribbean/europe occasionally, and overally, enjoy a nice meal rather than be 100% debt free.

Quality of life is more important than the dollar figure of my bank account.

Second that.

[yelworC_]

At that lifestyle (if it can be called a life), no wonder his father died at 52 (as the article mentioned, the father was the guys role model, so assume he worked like crazy too).

[Audiogenic]

Work to live....not live to work.

[hicksticks]

More of a How-To in getting divorced.

[mok86]

At that lifestyle (if it can be called a life), no wonder his father died at 52 (as the article mentioned, the father was the guys role model, so assume he worked like crazy too).

the father retired at 52 not died...

[Rosico]

Ha, I like the one sentence where he notes his wife thought they were pushing it too hard ...

I'm sure she was wondering wtf did I get myself into at times.