How much debt do you have including mortgage etc..

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Replies

  • RunHardBeStrong
    RunHardBeStrong Posts: 33,069 Member
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid. On a side note... if you leave no one anything then debts are absorbed and if you have no life insurance you will be buried. They don't just leave you in the street ;)

    Just throw me in the trash

    Nah, I'mma stuff you and put you in my museum.
  • your_future_ex_wife
    your_future_ex_wife Posts: 4,278 Member
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid. On a side note... if you leave no one anything then debts are absorbed and if you have no life insurance you will be buried. They don't just leave you in the street ;)

    Just throw me in the trash

    Nah, I'mma stuff you and put you in my museum.

    I’m enjoying the dark comedic turn this has taken.
  • RunHardBeStrong
    RunHardBeStrong Posts: 33,069 Member
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid. On a side note... if you leave no one anything then debts are absorbed and if you have no life insurance you will be buried. They don't just leave you in the street ;)

    Just throw me in the trash

    Nah, I'mma stuff you and put you in my museum.

    That's actually a thing you can do. It's called plastination.

    I love all your random facts!
  • rosebarnalice
    rosebarnalice Posts: 3,488 Member
    Student loans and mortgage is all that is left now. 10yrs left on the house and I figure the student loans will be paid off sometime around age 73 or 74. Student loan debt is almost 3 times the amount of the balance on our mortgage. No car payments in 15+ yrs and no credit card debt. Our daughter gets married next June; the wedding is almost completely paid for already. Will we retire at 65? Probably not, but we live well. Our monthly budget? There is plenty leftover after the bills are paid.

    If there's "plenty left over" after the bills are paid, why don't you throw it at your student loan debt?
  • Ketch_22
    Ketch_22 Posts: 12,708 Member
    edited July 2019
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid.

    wow this is really super not true
    life insurance is separate from the estate

    without a Will yes you are correct, if you have a will and name that person then it is different
    it also varies by state
  • bojack5
    bojack5 Posts: 2,859 Member
    Ketch_22 wrote: »
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid.

    wow this is really super not true
    life insurance is separate from the estate

    without a Will yes you are correct, if you have a will and name that person then it is different

    With a will yes estate pays bills.....but not with life insurance. They are two separate things.
  • This_far
    This_far Posts: 536 Member
    Ketch_22 wrote: »
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid.

    wow this is really super not true
    life insurance is separate from the estate

    without a Will yes you are correct, if you have a will and name that person then it is different

    nah life insurance is separate from estate
    a will got nothing to do with it

    It's been my experience that the banks always get paid.
  • Ketch_22
    Ketch_22 Posts: 12,708 Member
    Ketch_22 wrote: »
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid.

    wow this is really super not true
    life insurance is separate from the estate

    without a Will yes you are correct, if you have a will and name that person then it is different

    nah life insurance is separate from estate
    a will got nothing to do with it

    getting off topic on this one. The point was to address what happens to your debt if you die. It doesn't get absorbed unless you died penny less and alone
  • jmorton36153
    jmorton36153 Posts: 6 Member
    House paid off. I have one credit card that I actually make money on my getting 1.5% rewards and pay off monthly. The secret to my success has been beginning my retirement saving early and maxing out my 401K & Roth IRA. I have enough left over for whatever I want to do. I have sacrificed though by not having a big expensive home and nice cars both what I consider tax burdens. My wife and I plan to have a second home in Florida when we retire so the sacrifices of lesser home and autos now will pay off later.
  • wcaldwelld
    wcaldwelld Posts: 101 Member
    Interesting topic but here goes... we are not bad off we still owe about 60,000 on our mortgage and other debt is about 3000 on credit cards mainly due to expenses from three yes three weddings in the next 8 months two daughter and one son all getting married
  • Ketch_22
    Ketch_22 Posts: 12,708 Member
    Ketch_22 wrote: »
    Ketch_22 wrote: »
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid.

    wow this is really super not true
    life insurance is separate from the estate

    without a Will yes you are correct, if you have a will and name that person then it is different

    nah life insurance is separate from estate
    a will got nothing to do with it

    getting off topic on this one. The point was to address what happens to your debt if you die. It doesn't get absorbed unless you died penny less and alone

    idk idk idk like @JustReadTheInstructions student loan debt will die whenever she shuffle off this mortal coil even if she a millionaire scientist by then

    yes true if it was a federal loan and/or if the estate didn't have the funds to cover if a private loan and they are not married in a community property state. So single federal loan... good to go. Question is.. why would someone with a million even have student loan payments?
  • slessofme
    slessofme Posts: 7,739 Member
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid. On a side note... if you leave no one anything then debts are absorbed and if you have no life insurance you will be buried. They don't just leave you in the street ;)

    Just throw me in the trash

    Nah, I'mma stuff you and put you in my museum.

    That's actually a thing you can do. It's called plastination.

    This is very interesting to see on display. I've been to a few exhibits.
  • RunHardBeStrong
    RunHardBeStrong Posts: 33,069 Member
    slessofme wrote: »
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid. On a side note... if you leave no one anything then debts are absorbed and if you have no life insurance you will be buried. They don't just leave you in the street ;)

    Just throw me in the trash

    Nah, I'mma stuff you and put you in my museum.

    That's actually a thing you can do. It's called plastination.

    This is very interesting to see on display. I've been to a few exhibits.

    This shouldn't creep me out because it's really just a shell of our existence but this creeped me out to think there's dead people on display somewhere.
  • bojack5
    bojack5 Posts: 2,859 Member
    Ketch_22 wrote: »
    Ketch_22 wrote: »
    Ketch_22 wrote: »
    Ketch_22 wrote: »
    Debt and credit scores are a racket. They don't mean anything. If I had to put a number on it though, like $348K

    You know, the whole world is in debt anyway. Like, when you die...that debt...where does it go? Its just numbers then..bouncing around in a bubble of speculation.

    Right? It's all in imaginary figures anyway. If all the databases went down tomorrow I wouldn't be in debt.

    Actually, if you die and you plan to leave something to someone... ex life insurance they can't collect on the estate until the bills are paid.

    wow this is really super not true
    life insurance is separate from the estate

    without a Will yes you are correct, if you have a will and name that person then it is different

    nah life insurance is separate from estate
    a will got nothing to do with it

    getting off topic on this one. The point was to address what happens to your debt if you die. It doesn't get absorbed unless you died penny less and alone

    idk idk idk like @JustReadTheInstructions student loan debt will die whenever she shuffle off this mortal coil even if she a millionaire scientist by then

    yes true if it was a federal loan and/or if the estate didn't have the funds to cover if a private loan and they are not married in a community property state. So single federal loan... good to go. Question is.. why would someone with a million even have student loan payments?

    Because they can pry my money from my cold, plastinated hands

    And a $2500 write off on student loan interest is something even a millionare can appreciate ;)