Minnesotagirl7
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Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,793
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Post by Minnesotagirl7 on Nov 6, 2019 13:21:02 GMT -5
Rukh O'Rorke , FYI, when you post an update, the information in the parentheses does not change. It should be your original racing numbers (date, total, page #). And for what its worth, I think you're doing amazing. All progress is something to be proud of. You're putting in the work now, and you'll see those efforts pay off as you keep racing.
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nikiz628
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Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,439
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Post by nikiz628 on Nov 6, 2019 16:22:44 GMT -5
UPDATE 11/6/2019 RACE #4Race #4 | Interest Rate | Starting Balance | Last Update | This Update | Difference | Truck Loan | 4.8% | $24,945.53
| $24,367.46
| $24,084.80 | -$282.66 |
NikiZ628(4) 11/6/2019 $24,084.80 (6/26/19 $25,195 WIRR197)
Total Paid in 2019: $1,110.20 Total Amount Paid Off: $1,110.20
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,029
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Post by Rukh O'Rorke on Nov 6, 2019 16:27:19 GMT -5
Rukh O'Rorke , FYI, when you post an update, the information in the parentheses does not change. It should be your original racing numbers (date, total, page #). And for what its worth, I think you're doing amazing. All progress is something to be proud of. You're putting in the work now, and you'll see those efforts pay off as you keep racing. oof! I was always doing it from the last update....will change that! Adding: Thanks for the encouragement Minnesotagirl7 !! It really does help and is worth more than you know!!
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forwardwego
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Joined: Dec 22, 2010 3:54:23 GMT -5
Posts: 1,395
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Post by forwardwego on Nov 8, 2019 7:14:06 GMT -5
Good Friday Morning fellow Racers Yesterday my much loved flip flops came apart, and now"Margaritaville" is stuck in my head": "I blew out my flip flop Stepped on a pop top " It's great to see you again MinnesotaGirl! Thank you for your helps and encouragement. ETA: And I agree, Rukh is making wonderful progress!
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,029
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Post by Rukh O'Rorke on Nov 8, 2019 8:05:35 GMT -5
I hope new flip flops are in the budget
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ners
Junior Associate
Joined: Dec 23, 2010 16:21:18 GMT -5
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Member is Online
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Post by ners on Nov 10, 2019 21:33:55 GMT -5
Update Race 2
9060.61 (4/21/2018 $12,161.07 R172)
Slow and steady progress. On track to reach goal.
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idlechatter
Initiate Member
Joined: Sept 7, 2013 15:12:54 GMT -5
Posts: 70
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Post by idlechatter on Nov 12, 2019 18:49:25 GMT -5
I am way late on updating. Things are good, though the transition to the new job has been pretty rough. I have been buried in work which is why I have been lacking in updates. I'm pleased to report, however, that even with oral surgery a couple of weeks ago (that cost me about a thousand dollars out of pocket!), I remain credit card debt free. The more I think about it, the more I think I'm not going to get a bonus this year on account of the promotion/raise and relocation expenses that were covered. It's kind of a bummer because I was going to use that to pay down one of my student loans and go to a friend's destination wedding. I may use some of my savings to pay down the student loans, though I still need to think about it. I should also note that DEXBF, has been having some financial timing issues, so I have been paying his truck payment and he's been giving me the cash on a week or two delay. I've been stashing the cash away instead of putting it back in my account as some money under the mattress for the holidays (which is about $1700 right now and I'm definitely not planning on using all of it). I don't think I'll be able to do that for much longer but I'm hoping I can swing doing it that way for one more month before I have to start depositing it. And my savings is now $13K (my goal for this year was to get it to $6K). And who knows, maybe there is an offchance I still get a bonus. Even a small one would be helpful, but it wouldn't be until February anyway. November Summary• No new credit card debt since paying off all of my credit cards in May! • Car loan is less than $9K! • Student loans under $30K! FINALLY. • Total debt under $40K! FINALLY. 2019 Goals• Under $50K by February 2019 update (met February 2019!!!) • Reach 50% paid off by February 2019 (met January 2019!) • Pay off another student loan by Feb 2019. (met February 2019!!!) • Only have student loans and car loan debt by May 2019. (met May 2019!!!) • Reduce SL#B to <$3,750 by Dec 31 19. Revised from <$2K. • Reduce Auto loan to <$8K by Dec 31 19. idlechatter (2) 11/12/2019 $38,152.28 (12/13/2017 $71,083.09 C165) Debt | Interest Rate | Starting Debt | WIRR Start 12/13/2017 | 11/16/2019 | Difference from WIRR Start | Total Difference | CC#1a | - | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | CC#1b | 0.00% | $4,846.31 | $4,846.31 | $0.00 | -$4,846.31 | -$4,846.31 | CC#2 | 18.92% | $1,592.09 | $1,592.09 | $0.00 | -$1,592.09 | -$1,592.09 | SL#A | 6.80% | $3,024.00 | $640.37 | $0.00 | -$640.37 | -$3,024.00 | SL#B | 6.80% | $8,400.00 | $5,465.90 | $3,907.28 | -$1,558.62 | -$4,492.72 | SL#C | 6.80% | $31,822.91 | $21,424.73 | $15,823.18 | -$5,601.55 | -$15,999.73 | SL#D | 6.80% | $8,400.00 | $5,596.11 | $3,945.45 | -$1,650.66 | -$4,454.55 | SL#E | 6.80% | $11,370.48 | $8,723.05 | $6,227.09 | -$2,495.96 | -$5,143.39 | SL#6 | 6.55% | $6,581.00 | $2,926.35 | $0.00 | -$2,926.35 | -$6,581.00 | Auto | 1.90% | $19,036.80 | $15,864.00 | $8,249.28 | -$7,614.72 | -$10,787.52 | Moto | 7.99% | $4,384.14 | $4,004.18 | $0.00 | -$4,004.18 | -$4,384.14 | Total | | $99,457.73 | $71,083.09 | $38,152.28 | -$32,930.81 | -$61,305.45 |
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chicg
Familiar Member
Joined: Dec 27, 2010 15:55:49 GMT -5
Posts: 742
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Post by chicg on Nov 13, 2019 11:48:07 GMT -5
Welcome back Forwardwego - wait, were you the one that had all the songs when someone won a race? My brain is mush and I can't remember but your Jimmy Buffet tune reminded me of that.
I'm also a long time member, here's the tagline from my very first update, I keep it on my budget sheet. I joined after watching an Oprah show about women and finances and they discussed money groups. I got online and found the MSN money group/blog from Mia Dunleavy (?) with WIR, and the rest is history. I'm at 12 years, paid off that original $34K+ debt, got to $0 for a little while, then got sloppy with budgeting and my living expenses increased (but so did my salary), and now here I am on my 2nd race. I haven't had smiley's in years because after starting my 2nd race I got sloppy and increased debt again for no good reason so I never adjusted my start number. WIR 1st post- chicg, 8/31/07, 34,368, N497
I'll update my numbers soon, but my personal life got a little crazy. I started fostering kittens which was nice, then the guy I was with for 15 months ended things, which complicated my decision-making about adopting two kittens. I'm going to finalize their adoption today, despite it not being my plan to adopt for a few months and adopting older cats. I've thought about it a million different ways and it keeps coming to the point that I want these cats and it will be nice to have something of my own again, bring some fun into the house, especially with a lonely winter coming. I still plan to travel once my debt is a little more under control and will just get pet sitters. Whether I adopt now or in a few months like originally planned won't make a huge difference in the long run. First trip, I'll be going to AZ in January for work and I'm extending it for about a week to visit my friend, so costs will be low. And yes, I'll be getting pet insurance for these two!
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nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
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Post by nidena on Nov 13, 2019 13:12:26 GMT -5
The changes that I made to my insurance policies resulted in my USAA-controlled automatic payment getting deleted for November which resulted in a late fee of $15. I just got off the phone with USAA, requesting they reverse the late fee and they did. My December payment is going to be twice as much as a normal payment but that'll make January's payment that much less.
In other news, I'm sick--a cold or something. Time for rest and lots of water.
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forwardwego
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Joined: Dec 22, 2010 3:54:23 GMT -5
Posts: 1,395
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Post by forwardwego on Nov 13, 2019 13:53:12 GMT -5
chicg Hi! Yep, that's me. The Weird Al Yankovic of the WIR Board. Thanks for the welcome! nidena on getting fee reversed, and on having a cold, take care and do those self helps, maybe minimize the duration and severity.
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nikiz628
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Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,439
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Post by nikiz628 on Nov 13, 2019 14:09:04 GMT -5
The changes that I made to my insurance policies resulted in my USAA-controlled automatic payment getting deleted for November which resulted in a late fee of $15. I just got off the phone with USAA, requesting they reverse the late fee and they did. My December payment is going to be twice as much as a normal payment but that'll make January's payment that much less. In other news, I'm sick--a cold or something. Time for rest and lots of water. Hope you’re feeling better soon! ❤️
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nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
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Post by nidena on Nov 14, 2019 13:08:50 GMT -5
Yesterday was a day of chills, fever, and a productive cough...was in bed from around 1pm until ~11am this morning. Today is a day of making myself eat so that I actually get better.
Tomorrow, carpet is getting installed in the house and, hopefully, my realtor can get it listed next week. Fingers crossed that it sells this calendar year. I'm guessing anything I net from the sale will count as income on my taxes, correct?
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Minnesotagirl7
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Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,793
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Post by Minnesotagirl7 on Nov 14, 2019 13:34:43 GMT -5
nidena Having just gone through this, I think I can answer. Not positive on the rules in your previous state, but in MN, if it was your primary residence for more than 2 years, you do not have to pay taxes (capital gains, income, etc.) on the proceeds from the sale of a home.
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nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
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Post by nidena on Nov 14, 2019 14:52:31 GMT -5
nidena Having just gone through this, I think I can answer. Not positive on the rules in your previous state, but in MN, if it was your primary residence for more than 2 years, you do not have to pay taxes (capital gains, income, etc.) on the proceeds from the sale of a home. Your statement lead me to ask on google. It appears that is true for all states. I lived there for more than a decade and don't expect to net $250,000+ so it looks like whatever I net is mine.
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Minnesotagirl7
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Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,793
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Post by Minnesotagirl7 on Nov 15, 2019 10:36:53 GMT -5
Shoutouts! nikiz628- Congrats on hitting over $20k paid off on race #2!! Rukh O'Rorke- Great updates. I love how you’re maintaining visibility to your goals! shanendoah- Congratulations again on your win!! And thanks for sharing the “stats” on your races. Really helpful and inspriring! Maryland Monroe- Knocking on the door of $80k paid off, nice work! paynointerest- Woo hoo! steph08- Nice update! bankergurl- Hugs nidena- Hope you’re feeling better. forwardwego- Welcome back once again. nooccar- Happy wirriversary! Glad the refi is done, those can go smoothly or be a pain. ners- Good update, glad the goals are still on track idlechatter- Coming up on 2 year wirriversary – done amazingly well!!
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Minnesotagirl7
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Joined: Dec 27, 2010 11:43:59 GMT -5
Posts: 1,793
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Post by Minnesotagirl7 on Nov 15, 2019 10:40:36 GMT -5
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chicg
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Joined: Dec 27, 2010 15:55:49 GMT -5
Posts: 742
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Post by chicg on Nov 15, 2019 15:37:49 GMT -5
UPDATE
Chicg [2] -11/15/19, $11,496 (11/7/14, 4217.34 MPT266)
Discover $6,996 ($600 less than last month)
Chase $4500
Baby steps. I paid off the older promo BT on Discover (it was expiring this month), so everything left is at 0% for several months and now I'll concentrate on Chase. Since that balance got higher than anticipated I might do a BT. I have several cards at $0 and they're all offering deals. I did pay for my Amtrak ticket for thanksgiving travel outright so at least that didn't add to the balance. I also transferred my BofA card from a cash rewards to a travel rewards, no foreign transaction fee and no annual fee, so that will help down the road. I intend to keep that at $0 and use exclusively for travel.
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bankergurl
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Joined: Dec 30, 2010 17:05:10 GMT -5
Posts: 1,435
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Post by bankergurl on Nov 15, 2019 17:17:10 GMT -5
Update to Race #2!!! (One week late)$668.23 paid off in the last 2 weeks!!
Well we made it through the twins BD. What a relief to get past that day. Holidays are still hard, but at least I can breathe a little bit.
Still waiting for back rent from one of our renters for $250.00. She is supposed to be paying that this weekend.
My reselling business is blowing up with the Christmas Season. I added up all the sale waiting for pick up and it was over $700! Last weeks sales were $360 and this week is already at $580 with several big orders still to be picked up. All of my sales money goes into savings so that helps a lot. It will help off set the overspending and large bills we have coming in.
Savings is at $18,600.00
Celebrations for this update: -$668.23 paid off in the last 2 weeks!! -Mom Loan #2 went under the next $1000 mark!! -Race #2 went under the next $1000 mark!!
Race #1 - Banker Gurl Mortgage (Rental #2)
10/25/19 $141,775.00 (9/17/07 $250,514.73) Paidoff - $108,739.73
Debt | Interest | Start 9/17/07 | Last 10/11/19 | Current 10/25/19 | My Mortgage (Rental #2) | 3.62% | $250,514.73 | $141,900.00 | $141,775.00 |
Race #2 - Bad Debt Race
11/08/19 $31,900.82 (6/19/15 $63,603.84) Paidoff - $31,703.02
Debt | Interest | Start 6/19/15 | Last 10/25/19 | Current 11/08/19 | Student Loan | N/A | $93.97 | $0 | $0 | Payback Savings | 0% | $500.00 | $0 | $0 | David's Bridal | 0% | $275.30 | $0 | $0 | Scheel's Card | 25.24% | $929.90 | $0 | $0 | Total Rewards | 17.99% | $3,955.66 | $0 | $0 | LOC - US Bank | 21.90% | $4,994.05 | $0 | $0 | Ring - Iddeal | 9.99% | $9,334.87 | $0 | $0 | Appliances - Best Buy | 0% | $2,960.09 | $0 | $0 | Store Loan
| 2.00%
| $14,560.82
| $1,459.60
| $1,339.52
| Mom Loan #2 (HELOC) | 2.00% | $0 | $5,109.45 | $4,561.30 | Mom Loan #3 (Truck - Added 9/1/18)
| 2.00%
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$26,000.00
| $26,000.00
| $26,000.00
| Totals |
| $63,603.84 | $32,569.05 | $31,900.82
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*Mom Loan Savings Account has $2870.00 in it so total still owed is $27,691.30.
Race #3 - MO's Mortgage (Rental #1)/HELOC
10/25/19 $77,981.31 (6/19/15 $119,756.61) Paidoff - $41,775.28
Debt | Interest | Start 6/19/15 | Last 9/27/19 | Current 10/25/19 | HELOC | 3.5% | $30,324.70 | $0 | $0 | MO Mortgage (Rental #1) | 4.5% | $89,431.91 | $78,188.12 | $77,981.31 | Totals |
| $119,756.61 | $78,188.12 | $77,981.31 |
Race #4 - Our Mortgage
10/11/19 $237,674.05 (9/2/15 $270,000.00) Paidoff - $32,325.95
Debt | Interest | Start 9/2/15 | Last 9/13/19 | Current 10/11/19 | Our Mortgage | 4.125% | $270,000.00 | $238,098.72 | $237,674.05 |
Yearly Progress
Date | Total Debt | 6/19/15
| $584,391.18
| 1/1/16 | $557,236.94 | 6/1/16 | $536,179.52 | 1/6/17
| $524,971.47
| 6/9/17
| $516,318.28
| 1/5/18
| $504,165.70
| 6/8/18
| $495,101.02
| 12/21/18
| $509,625.02
| 1/4/19
| $508.767.86
| 1/18/19
| $507,697.95
| 2/1/19
| $506,989.70
| 2/15/19
| $505,918.19
| 3/1/19
| $504,998.86
| 3/15/19
| $503,995.75
| 3/29/19
| $503,730.27
| 4/12/19
| $502,303.76
| 4/26/19
| $501,586.82
| 5/10/19
| $499,957.80
| 5/24/19 | $499,637.68 | 6/7/19
| $498,975.00
| 6/21/19
| $497,886.96
| 7/5/19
| $496,973.20
| 7/19/19
| $495,818.98
| 8/2/19
| $494,954.13
| 8/16/19
| $493,982.84
| 8/30/19 | $493,659.11
| 9/13/19 | $492,219.86 | 9/27/19
| $491,890.01
| 10/11/19
| $490,451.21
| 10/25/19 | $489,999.41 | 11/08/19
| $489,331.18
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*Record for going under the next $1000 mark is 9 updates in a row.
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ners
Junior Associate
Joined: Dec 23, 2010 16:21:18 GMT -5
Posts: 6,484
Member is Online
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Post by ners on Nov 15, 2019 20:45:45 GMT -5
Update Race 1
71,174.57 (1/3/2011 $97,382.42 MPT5)
Unfortunately not going to hit my goal for this race. Still I making progress just not as much as I would like.
Paid 266.16 this month
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chicg
Familiar Member
Joined: Dec 27, 2010 15:55:49 GMT -5
Posts: 742
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Post by chicg on Nov 19, 2019 12:39:04 GMT -5
Is anyone having luck selling women's shoes/clothes online? I tried Poshmark and had 3 sales over about 3 months, I haven't used ebay in a while but might list there too. Last time I tried eBay nothing sold. I have decent mid-line clothes/shoes that I'd like to get a few bucks for (nordstrom type stuff, nice but not super high end), but it seems with shipping charges and such, non-designer things aren't selling at $10 if it's another $8+ for shipping. It's hard for me to have a yard sale type of thing since I'm in an apartment building.
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nikiz628
Well-Known Member
Joined: Jun 11, 2013 17:25:59 GMT -5
Posts: 1,439
Mini-Profile Background: {"image":"","color":"4ee2dd"}
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Post by nikiz628 on Nov 19, 2019 14:32:57 GMT -5
Update Race #2 11/18/2019Race #2 | INTEREST | ORIGINAL | LAST UPDATE | THIS UPDATE | DIFFERENCE | Auto Loan (SUV) | 4.00% | $32,991.93 | $12,703.91 | $12,322.89 | $381.02 |
NikiZ628 (2): 11/18/19 $12,322.89 (3/26/18 $32,991.93)
Total Paid in 2019: $7,206.21 Total Paid Overall: $20,669.04
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nidena
Senior Member
Joined: Dec 28, 2010 20:32:26 GMT -5
Posts: 3,580
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Post by nidena on Nov 19, 2019 17:00:01 GMT -5
Is anyone having luck selling women's shoes/clothes online? I tried Poshmark and had 3 sales over about 3 months, I haven't used ebay in a while but might list there too. Last time I tried eBay nothing sold. I have decent mid-line clothes/shoes that I'd like to get a few bucks for (nordstrom type stuff, nice but not super high end), but it seems with shipping charges and such, non-designer things aren't selling at $10 if it's another $8+ for shipping. It's hard for me to have a yard sale type of thing since I'm in an apartment building. The only thing that I've found sells decently on ebay is non-matrix sized bras (bras not sized 32-36 A-DD) and VS bras in any size. With regular (but nice) clothes that are WHBM or Nordstrom type of stuff, I sold mine to Style Encore. It's like Plato's Closet but geared more towards work attire and shoes.
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,029
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Post by Rukh O'Rorke on Nov 19, 2019 21:23:12 GMT -5
thredup?
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forwardwego
Well-Known Member
Joined: Dec 22, 2010 3:54:23 GMT -5
Posts: 1,395
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Post by forwardwego on Nov 20, 2019 10:26:39 GMT -5
Hi WIRRacers,
First Update: Forwardwego 11/19/2019 $38,020 (11/3/2019 $38,648. C208)
The good thing is a regular payment reduced the principle by $628. The bad thing is that for now I didn't manage any additional paydown this month. We are travelling from FL to Ohio Saturday, and the focus is on paying those expenses as we go. In December I hope to give this balance a solid hit.
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chicg
Familiar Member
Joined: Dec 27, 2010 15:55:49 GMT -5
Posts: 742
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Post by chicg on Nov 20, 2019 13:25:41 GMT -5
Thanks! I'll look around for some consignment stores here. I've looked before and they all seemed to be for designer only, or not plus sizes. Cute plus size stuff used to sell so well on ebay, I'd have bidding wars on jeans, I think because there wasn't a lot available in stores back in the day. Anyhow, I'll give it a shot, if not I can donate. I thought my shoes would sell on Poshmark, especially my barely worn Via Spiga. I so wish I could still wear high heels!
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livinitup
Initiate Member
Joined: Sept 15, 2015 13:01:19 GMT -5
Posts: 96
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Post by livinitup on Nov 20, 2019 19:12:00 GMT -5
UPDATElivinitup 20-November-2019 $39,432.34 (15/9/2015 $66,614.90, C62)
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| 15-Sep-2015 | 8-Oct-2019 | 20-Nov-2019 |
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| Debt
| Interest Rate
| Initial Debt Amount
| Old Debt Amount
| New Debt Amount
| Paid since last update
| Paid to date
| % paid
| Loan 1 | 0% | 1,800.00 | -
| - | - | 1800.00 | 100% | Charge Account
| 0% | 645.50 | - | - | - | 645.00 | 100% | Credit Card
| 0% | 4,196.86 | -
| - | -
| 4,196.86 | 100% | Mom Loan
| 0% | 9,500.00 | - | - | -
| 9,500.00 | 100% | HOA Arrears | 0% | 6,000.00 | - | - | - | 6,000.00
| 100% | House Arrears
| 0% | 2,200.00
| - | - | - | 2,200.00 | 100% | Reno Loan | 6.75% | 25,101.16 | 29103.80 | 28,308.94 | 794.86 | (3,207.78) | -13% | Rental Arrears | 0% | 15,500.00 | 9,000.00 | 9,000.00 | - | 6,500.00 | 42% | MasterCard | 19.25% | 3,471.38 | 1,328.54 | 1,173.40 | 155.14 | 2,297.98 | 66% | | | 66,614.90 | 39,432.34 | 38,482.34 | 950.00 | $28,932.56
| 45%
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Not as great an update as I hoped but I am still going in the right direction!!!
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swordguy
Established Member
Joined: Dec 26, 2010 18:07:07 GMT -5
Posts: 446
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Post by swordguy on Nov 20, 2019 19:50:03 GMT -5
New Races #2 and #3 11/20/2019Hi, everyone! I participated with the Women in Red Racers (Southern Region) about a decade ago back when it was on the old website. At that point I was attempting to pay off a car and the mortgage on our home and over several years we did just that. This was a great group back then, chock full of nice and supportive people. I'll wager it's even better now! Fast forward a goodly number of years and things have improved dramatically. I found a website (www.MrMoneyMustache.com) back in 2012 and learned a whole lot about personal finance. We changed our behavior, upped our savings rate (at one time we got up to 67% of our gross pay + 401K matches), and also invested in some rental houses. I was able to retire at age 60 instead of at age 70+. This was a dramatic change for the better! We have a daughter with Down syndrome and I had always figured I would have to work until I dropped in order to provide for her care after we passed. So being able to retire at 60 was a massive improvement. Aside from the knowledge I got from Mr. Money Mustache, the cheering I got from this group whilst paying off our car and mortgage quickly set the stage for that success. So, thanks! At this point we own 8 houses, 7 of which are free and clear. We live in #1 of 8. #s 2 thru 6 are rented out. #6 is a duplex and is only half rented, we're renovating it one side at a time. We'll be selling it in a few months to our business partner. #7 is a house we'll be donating for charitable purposes once we finish renovating it. #8 was bought to help our daughter's adopted grandmother out. (Our daughter adopted this lady as her grandmother some years back because none of the three sets of grandparents she had ever gave a damn about her.) Grandma will buy it from us at cost once it's fixed up. At this point, we're almost ready to start hammering down the debt on our personal home, the only one that isn't owned free and clear. We have a mortgage on it with just under 12 years to go at a fixed 2.75% rate if we paid it off slowly. We also have a HELOC on it where we've funded the renovations on the duplex, #6. We'll cash flow the charity house, #7 as we go along. Grandma is funding the renovation on her new home. We expect the HELOC to go up another $10,000 to $15,000 over the next two months from the ongoing renovations. We have to take an RMD (a required minimum distribution) from an IRA and 401K in 2020, we'll use that to pay down a lot of the HELOC at the start of the year and have targeted to pay it off by March 30, 2020. At that point, we'll start pumping money onto our main mortgage. Our intent is to pay off the main mortgage by 1/31/2023, or just a tad over 3 years. Our retirement income comes in a mix of regular payments and also in sporadic returns on investments, so a month or two each year will show a pretty big drop in the balance. Race # | Description | Update Date | Current Amt | Race Start Date | Race Start Amt | 1st Page # | Change | Notes | 2 | HELOC | 11/20/2019 | $ 15,000 | 11/20/2019 | $ 15,000 | WIRR209 | - 0 | Funding Renovations on Houses #6 and #7 | 3 | Mortgage | 11/20/2019 | $145,005 | 11/20/2019 | $145,890 | WIRR209 | - 885 | Mortgage for House #1 |
SwordGuy (2) 11/20/2019 $15,000 (11/20/19 $15,000 WIRR209)SwordGuy (3) 11/20/2019 $145,005 (11/20/19 $145,890 WIRR209)
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idlechatter
Initiate Member
Joined: Sept 7, 2013 15:12:54 GMT -5
Posts: 70
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Post by idlechatter on Nov 20, 2019 21:26:33 GMT -5
Welcome back forwardwego and swordguy! Coming back here was the best thing I've done in awhile. And even though I haven't been around as much as I'd like recently (I just moved for a new job and the transition has been WILD), I've stayed on track because of the group. I think I first joined about a decade ago as well (2007/2008?) in the Northeast.
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Rukh O'Rorke
Senior Associate
Joined: Jul 4, 2016 13:31:15 GMT -5
Posts: 10,029
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Post by Rukh O'Rorke on Nov 21, 2019 9:50:22 GMT -5
Hi WIRRacers,First Update: Forwardwego 11/19/2019 $38,020 (11/3/2019 $38,648. C208)
The good thing is a regular payment reduced the principle by $628. The bad thing is that for now I didn't manage any additional paydown this month. We are travelling from FL to Ohio Saturday, and the focus is on paying those expenses as we go. In December I hope to give this balance a solid hit. I've been really pushing on my debts, but I am going to have to back off a bit and just do the minimums for a while. As long as we don't incur additional principal we are making progress!!! Progress!628 dollars of progress - that's a win!
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swordguy
Established Member
Joined: Dec 26, 2010 18:07:07 GMT -5
Posts: 446
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Post by swordguy on Nov 21, 2019 21:49:34 GMT -5
Hi WIRRacers,First Update: Forwardwego 11/19/2019 $38,020 (11/3/2019 $38,648. C208)
The good thing is a regular payment reduced the principle by $628. The bad thing is that for now I didn't manage any additional paydown this month. We are travelling from FL to Ohio Saturday, and the focus is on paying those expenses as we go. In December I hope to give this balance a solid hit. If I could have your mortgage balance instead of mine AND take a $5000 extra "something important just broke" bill on top of that, I would be so happy you could hear me yell for joy!
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