Being debt free is the goat feeling brehs

[Originalman]

I’m in the laborers union, guaranteed pension for life

Plus I live in chi(union town) my pension ain’t going nowhere no time soon

to another brotha from the chi. Yep I remember you said that before homie. You on the right path.

I was like you paid everything cash and stacked my paper. 2008 happened and while folks were talking about credit no one could get a loan.

While folks were losing they houses left and right. A capitalist b*stard like myself was able to swoop in and buy 3 building cash for pennies on the dollar.

I stand by cash is king.

 

[Noriega]

to another brotha from the chi. Yep I remember you said that before homie. You on the right path.

I was like you paid everything cash and stacked my paper. 2008 happened and while folks were talking about credit no one could get a loan.

While folks were losing they houses left and right. A capitalist b*stard like myself was able to swoop in and buy 3 building cash for pennies on the dollar.

I stand by cash is king.

You own cribs in the city ?

 

[Originalman]

You own cribs in the city ?

Yep sold one of them though this spring. Bought then jokers in 2008. While folks were losing shyt left and right.

Man in 2009 I was bidding on this crib not too far where the obamas lived at one time. The house was originally 800k but was going for 120k. Folks forget how it was a buyers market in Chicago then. shyt lincoln park actually had forclosed houses going for 500k. Them same houses going for bare minimum 2 to 3 mill today...

 

[Noriega]

Yep sold one of them though this spring. Bought then jokers in 2008. While folks were losing shyt left and right.

Man in 2009 I was bidding on this crib not too far where the obamas lived at one time. The house was originally 800k but was going for 120k. Folks forget how it was a buyers market in Chicago then. shyt lincoln park actually had forclosed houses going for 500k. Them same houses going for bare minimum 2 to 3 mill today...

My grandma just put her old crib on the market in Roseland. Bought it in 74’ for 35k, selling it for 120k

I wanna buy a two flat in little village or Pilsen and rent to some Mexicans that I know will take care of it

You know how renting ass Chicago nikkas treat cribs

 

[Black Bolt]

I mean annually, just cd's 3% and 5% bonds

Buy some Vanguard funds (Total World, 80% Equity) & drip feed it monthly for 20-40 years.

 

[winb83]

I used to be debt free. Then my car broke down and I took out a $10K 5 year car loan. I mean the payments are like $162 a month and I take that out of my check every 2 weeks so it'll be paid off way sooner than 5 years but debt is annoying.

I never realized how hard it really is to be debt free until I tried to buy a house. There's just not a good path to doing that without taking out a fairly sizable amount of debt. It's very difficult to live in our society without debt. The only way I was able to ever do it was being a renter.

 

[OfTheCross]

I used to be debt free. Then my car broke down and I took out a $10K 5 year car loan. I mean the payments are like $162 a month and I take that out of my check every 2 weeks so it'll be paid off way sooner than 5 years but debt is annoying.

I never realized how hard it really is to be debt free until I tried to buy a house. There's just not a good path to doing that without taking out a fairly sizable amount of debt. It's very difficult to live in our society without debt. The only way I was able to ever do it was being a renter.

Yeah, but a home isn't bad debt. At the very least you can sell the property and get your money back. It's like a savings account.

 

[At30wecashout]

Down to a car note with 800 score.

doubling my car payments and will lump pay it in June. In the meantime, all im gonna save up for a higher interest savings account and open an IRA.

 

[BaldingSoHard]

Down to a car note with 800 score.

doubling my car payments and will lump pay it in June. In the meantime, all im gonna save up for a higher interest savings account and open an IRA.

So glad to hear my coli brehs taking their long-term finances seriously.

This is the path to generational wealth.

If any brehs / brehettes have questions about finance / debt / investing, I'd be glad to answer questions from my own experience.

 

[At30wecashout]

So glad to hear my coli brehs taking their long-term finances seriously.

This is the path to generational wealth.

If any brehs / brehettes have questions about finance / debt / investing, I'd be glad to answer questions from my own experience.

Yea man. I spoke with old friends who are kinda aware of my situation and say I am lucky, meanwhile they actually have degrees and 12 years later should have figured something out. Its been many years of sacrifice but im finally to the point I can save 4 figures a month and still do everything I like to do. Living simply and staying focused has put me on a path, fam. I’m trying to get my girl on board with the idea of stacking so we can live off of investments (I want to marry her) but if she cant get with the planpeople call me cheap but Im just a kid from the hood who doesnt wanna ever use an EBT card. Lets get our finance game up, fam.

 

[GASign]

It is a good feelin' not to be in debt.

Just do your best to cop a gig that helps you eliminate all of it.

 

[Ezekiel 25:17]

What's your monthly expenses now that you're debt free?

Somehow my shyt is still $1500 a month just to cover basics...

Gas, insurance, utilities, food, etc

Yo basics gone always be high as long as you paying rent.

The key goal would be to get a house and pay it off. So yo living expenses only $800/month.

 

[Barnett114]

My grandma just put her old crib on the market in Roseland. Bought it in 74’ for 35k, selling it for 120k

I wanna buy a two flat in little village or Pilsen and rent to some Mexicans that I know will take care of it

You know how renting ass Chicago nikkas treat cribs

 

[Family Lives Matter]

You paid off the mortgage?

Why are people in here comparing consumer debt to real estate debt? Two totally different things.

From my perspective I've never had consumer debt. The only reason I have a credit card was to boost my credit and I pay it off the same day I use it.

Bragging about being debt free shouldn't be a thing it should be a standard. (Not saying op is doing that)

 

[murksiderock]

So glad to hear my coli brehs taking their long-term finances seriously.

This is the path to generational wealth.

If any brehs / brehettes have questions about finance / debt / investing, I'd be glad to answer questions from my own experience.

How did you get started in investing, and how old were you? What did you look to invest in?

I don't know where to start, other than my 401k. I hear and read you guys talk about investments, but not how you get into investing from scratch with no financial literacy. I've self read articles but its foreign to me, good reads but I can't comprehend it. No one in my family or around me is financially literate...

I want to put some money in investments but I need guidance on how to begin that path, what to look for, etc...