BABL 010: Solocast-Paying Off Debt Explained

BABL Ep 10 Solocast: Paying Off Debt Explained Nearly 15 years ago, I uncovered some nuggets of truth when it came to paying off debt and living (virtually) debt-free for the rest of my life. It took me about two years (25 months to be exact) to blast away all of my student loans, credit cards, car loans and consumer debt -- with the help of my most incredible wife. For the next decade, my wife and I lived a life that was perfectly suited for us. Great houses, paid off cars, quality time with our children, vacations when our lives demanded them… And in October of 2012, we undertook the next step -- to blast away the house debt. We buckled down, got super serious, had definiteness of purpose, and are just months away from retiring the largest debt most people ever take on. I’m fully aware of the fact that many people don’t agree with doing this, especially with money as “cheap” as it is right now. Yet here’s the angle for me -- it’s not about what’s smartest or investment savvy or tax-advantageous -- it’s about the fact that when it’s gone and we need $1,000 a month to live on and everything else goes to build our wealth and legacy, LIFE GETS BIG! Give the podcast a listen and see what you think. It’s just 15 minutes and might have you thinking differently about what you’ll do with the next bonus! Mentioned on the podcast: John Commuta’s Debt Into Wealth Program www.vertex42.com -- download the debt elimination spreadsheet for FREE www.ShredMyMortgage.com -- The fastest debt shredding tool on the planet