OP
Wow, I am still having nightmares about my last job...I really need to get over it and move on! What a miserable place to work...
I am debt free
- Thread starter astjp2
- Start date
Hey I went thru that with 2 jobs - the first one I had 26 years in of which the last 6 years the company was failing topped off by the last year of a horrible dishonest lying cheating boss--I walked away and left 1/2 my pension on the table because I had more than enough. Bad Boss was forced to resign a month later when the board asked why I left.
Then- I left and ran a start up division for a company- it was awesome and stressful both- then the parent company failed financially and dragged what I was running successfully- down into bankruptcy. So that lasted 6 years. I learned a huge amount about new things in that job but also was killing myself- I had to change cellphone ring tones monthly because the 24/7 calls would get on my nerves badly.
I was unemployed 10 months and worked full time on job searches- at 58 you are always too old, too far away, overqualified, Etc, and they of course will never tell you this- they just ignore your resume, your visit.
Then I stumbled onto the place I work now and it is perfect for me - no more employees to manage, I get to design/engineer things, I am indoors and out depending on what I want to do each day, set my own schedule, I'm still in the farm community where people are generally honest and hardworking. Pay is equal to what I earned killing myself before. Furthermore- when I do decide to retire I can do consulting work in this field IF I CHOOSE TO.
Have faith - it will work out. Hopefully the first time- not the third like me.
One suggestion however- Potential employers WILL look at what you did after your last job- my 10 months unemployment was fast becoming a red flag. They will be thinking more like 3 months is right for most employable persons.
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I would also research and try to avoid any corporation that is owned by venture capital firms. All they do is suck a company dry, sell off divisions and lay people off. It usually takes anywhere from 3 to 5 years for them to destroy the company. I have seen this play out over and over again in big and medium sized companies.
I totally agree- they never add value to a company- they are there to strip it for a payout.
I like companies <50 employees where if I have a problem -I can walk into the chief's office and get an answer.
The big companies with their "black Fridays", CYA mid mgrs., & political games at all levels do not suit me.
Think about it in terms of cost of money. If you have a credit card and carry debt you could be paying anywhere between 10 to almost 30% a year on the debt you carry.
Now think about a mortgage. You can borrow money for a house at 4.3% today but, historically the stock market has returned roughly 7%. So if you had a standing balance of 200k on your mortgage and had 200k in cash would you pay it off or invest in the market? As you can see if you use the 200k to pay off the house your actually losing money because the gain on 200k would be roughly 14k a year while the interest on the house is only 8.6k a year...
It’s a tough one... from I’m learning mortgages and student loans (f$&k student loans) are considered good debt. Bad debt are the credit cards, lenders, and collectors. Essentially any investment in yourself or your net worth is good debt, ie morgages and student loans. But you are right, at the end of day debt is still debt.
Greenmachine
TJ Enthusiast
I’m looking for a conversation about it. Lots of opinions out there regarding math vs. emotion. Feel free to explain it to me.
Five
Member
The feeling of no debt, including a house paid off - Priceless!
OP
It used to be that the mortgage interest you could write off, now with the standard deduction now at 24K, its not worth having mortgage interest to write off...my deductions only counted for 18K and that included my small business I run on the side.
Alright, there are a few things in life we do not have a choice as to whether we need to spend money on them in order to survive. Food, shelter, a bit of tax here and there, maybe some transportation depending on your particular situation and medical expenses. With rare exception, other debt is a willful choice for non essentials.
Also with rare exception, even if someone gives you a shelter, there is still debt incurred that has to be settled or you will generally wind up on the street. You are going to spend money monthly or similar for shelter whether you own a home outright, rent it, or owe for the mortgage monthly. That makes it easy to say that one is debt free except for housing. I suppose one could park their rig at a rest area and live in it, but the shower sucks.
