From $46,000 of Credit Card and Car Debt to Mortgage-Free – with Bob Lotich

Have you ever wondered what it would feel like to own your home outright? Maybe you’ve always wanted to pay off your mortgage early or maybe the idea of being mortgage-free seems like an impossible dream. Perhaps you’re somewhere in between. 

Many of us are in different places on our debt freedom journeys. Not only do the amounts of debt and sizes of our mortgage vary, but so do our income levels. That’s why I wanted to invite another voice to the mortgage payoff conversation. 

I interviewed Bob Lotich, a Certified Educator in Personal Finance and creator of SeedTime Money, about his journey to becoming mortgage-free. Bob’s journey started with two entry-level jobs and includes the Great Recession. His perspective is certainly relatable and important during these unpredictable times.

Find out more about Bob’s story and learn how you can also pay off your mortgage early.

Click play below to listen to our podcast interview:

Continue reading “From $46,000 of Credit Card and Car Debt to Mortgage-Free – with Bob Lotich”

Pay Off the Mortgage Early or Invest More? Why We Chose a Mortgage-Free Life

Should we pay off the mortgage early or invest extra? That is a question that many homeowners find themselves asking. There are certainly benefits to investing more, and there are also benefits to being mortgage-free. It’s a major personal finance decision, which is why it is important to hear different the thought processes behind different people’s journeys.

I sat down with Kevin Hooper to learn more about his decision to pay off his mortgage early instead of investing more. Specifically, Kevin Hooper and his wife made the decision to become mortgage-free in a Chicago suburb with two young children. They did it in just five years.

In this interview, Kevin shares why they wanted to become mortgage free and details their unique mortgage payoff process. Plus, he also offers a peek inside their lives now when he shares what they are doing with the money they freed up paying off the mortgage early.

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Mortgage Free: Complete Debt Freedom During a Financial Crisis – with Keith Robinson

For most of us, housing is one of the biggest expenses we face each month. Experts suggest keeping housing to 30% of your budget, yet high cost-of-living areas can claim much more. It’s a huge expense no matter where you live, and many people can’t imagine what it’s like to live without a mortgage. If you’ve ever wondered exactly what it feels like to be mortgage-free, you won’t want to miss this conversation.

As someone who also prioritized paying off our mortgage, I love to hear other people’s stories about debt freedom. It’s especially important to share these stories, as no two journeys are alike.

Keith Robinson sat down with me to discuss the actual earth-shattering moment he and his family became mortgage-free. In addition to sharing the twists and turns of his debt-free journey in California, he also delivers actionable tips if you want to pay off your mortgage early. 

Let’s dive in. 

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10 Simple Steps to Save Up for Your Next Home Down Payment

Rachel from Chicago has a question about saving up for her home down payment.


Hey Andy! 

My husband and I are trying to save for a down payment on a house. We are pretty good at living within our means. 

Any advice on how to make this easier, smarter, more fun?! 

Continue reading “10 Simple Steps to Save Up for Your Next Home Down Payment”

How the Great Recession Inspired Me to Pay Off My Mortgage Early – with Christin McKamey

The Great Recession (2007-2009) caused higher levels of unemployment, plummeting real estate values and a lot of people to feel uneasy about their financial situation. Many parts of the United States were hit hard during this financial crisis, especially my home town of metro Detroit.

Today, I talk with Christin McKamey, a fellow metro Detroiter and the blogger behind Veggie Chick. We discuss how the Great Recession affected her and her husband Robert financially and emotionally. At one point, Christin found herself in nearly six-figures of debt with no job prospects. Her drive to improve her financial situation helped her to eliminate her debt and eventually become mortgage-free.

We chat about her and her husband’s financial past and upbringing, how she earned extra money to get rid of her debt and what they will do with their money now that they are mortgage-free.

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10 Steps to Pay Off Your Mortgage Early

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Our question of the month comes in from Mike:


Andy,

I saw the Business Insider article about you paying off your mortgage early.

We’re in a similar situation. With $228,000 left on our mortgage, our plan is to pay it off in 6 years. We’re looking for advice and shortcuts!


That’s awesome to hear you want to pay off your mortgage early, Mike!

You’re looking for steps, shortcuts, and advice on how to pay off your $228,000 mortgage in 6 years … Let’s do this!

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How We Paid Off Our $160,000 Mortgage in our 30’s – with David Venis

On our Mortgage Freedom series today we’re going to interview someone who paid off their mortgage at 32 years old. And now he and his wife have a lot more money to enjoy.

David Venis and his wife Stephanie live in East Central, Illinois, with their awesome pup named Abby.

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10 Steps I Took to Leave My Six-Figure Job and Become an Entrepreneur

Tomorrow will be my last day at my job. 

After 15 years of working as an event marketing professional, I’ve decided that I’m ready for a new chapter in my life.

The companies I’ve had the pleasure of working with have treated me well, given my family benefits and paid me generously. I sincerely appreciate the opportunities I’ve been given. It’s just time for me to follow a new calling.

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7 Reasons Not to Buy a Home (When You’re In Debt and Have No Savings)

Our second question of the month comes in from Anonymous from our Thriving Families Facebook Community:


Hey Andy,

Should we wait until we’re debt-free in order to buy our first home knowing that we’ll be renting for at least the next two years? 

Continue reading “7 Reasons Not to Buy a Home (When You’re In Debt and Have No Savings)”

I completed Dave Ramsey’s Baby Steps. Should I now invest in real estate or the stock market?

Our first question of the month comes in from Christie from Cincinnati:  


Andy,

I love the podcast. I have two questions.

How long have you been on Dave Ramsey’s Baby Step 7?

We are on Baby Step 7 with 1 paid-for rental. We are considering selling the rental property and just investing in a mutual fund instead. 

I know you keep talking about buying a rental, but after 8-10 years we are finding it really isn’t making as much money as we think the stock market could. And we won’t have to worry about tenants calling with a problem. 

What are your thoughts? 

Christie

Continue reading “I completed Dave Ramsey’s Baby Steps. Should I now invest in real estate or the stock market?”