Comments

  1. mycanuckbuck says:

    Huzzah! Sounds like the end is in site for you! :)

  2. Mandy @MoneyMasterMom says:

    Congrats on the improvement!

  3. Wow you paid $185,000 in four years, that is impressive Mr. CBB. I’m actually about to pay off all of my credit card debt within the next month or so, but then I’ll be on to working on a mortgage payoff fund. Keep up the great work.

  4. Keep up the great work Mr. CBB! It must feel great to have that end to be nearly in site. Nice work as well on the growth in your net worth, seeing that continuous uptrend is always nice to see.

  5. You are doing awesome!!! That mortgage-payoff date is getting closer and closer! :)

  6. I´m amazed over how much mortgage you`ve paid down over just 4 years! That is just mindblowing!

  7. You and the Mrs will enjoy the freedom from debt Mr CBB! It will be important to focus on saving for the future though as your next priority, since the days until retirement & the opportunity for compounding income are reducing each and every day. I know I am hardly giving you a moment to enjoy the landmark…I salute the debt freedom but I also encourage you to shift gears and bear down on a “written in stone” approach to retirement investing IMMEDIATELY as soon as the mortgage is paid off…at least the same amount of your highest monthly mortgage payment. All the additional mortgage pre-payment funds and additional payments will more than cover the rest of your wish list. :-)

    • Thanks Mary! That’s the plan that we set out with our advisor. Once the house is paid we will work on building the portfolio up to where it should be. Once we hit 100K we also pay less fees…. I forget all he said at this moment but I have the information in a file that I have.

  8. congratulations!! and I can’t believe how regular your NW progress chart is, in spite of all the expenses you have. You are truly doing amazing. I do think like you that the GBP will get a bit stronger, well that the USD and EUR are going to lose value rather, leaving the GBP comparatively stronger. I hope you manage a good rate, it does make a difference on such big amounts.

    • I kept telling me the pound would get stronger but it hasn’t seemed to go up only down lol.. I’ll just cut my losses and not look back. That’s all I can do or I sit on them and wait… and hope.

  9. Amazing work with killing that mortgage, and growing your net worth in the process. .

    • Working on it Mark… I know we aren’t investing like you are but I hope to get to a happy point with investing and balance of my portfolio one day. For now it’s in my advisors hands. Cheers mate

  10. kimateyesonthedollar says:

    Another great month. You are almost there. Paying off a house in less that five years is amazing. I know the math that says it’s better to invest, but who ever had regretted owning their house outright? We’re still a few years out, but I can’t wait.

    • Investing is just as risky but what I do know is it’s better to own the roof over your head first than a piece of paper that says you own stocks that may tank and you’re left with nothing but something to shred. Cheers!

  11. Nice progress, Mr CBB! I’ve never once come out on the good side of exchange rates. Feel your pain there. =(

  12. Christine Weadick says:

    Wow, you are doing awesome there!!!!!!! Given that you would like more land and a couple of the other points you raised…… one thought is to pay off this mortgage in full…….watch the housing market, if it does drop as the experts say is likely…….then start looking in a smaller town than the GTA as you stated…. the chances are good that you can pick up another house on a bigger plot for close to what you would pocket selling the current house. New house, more land….. paid cash so no mortgage…… It’s a thought…. it’s what my sister-in-law and her hubby did, they sold their one house, it took a few months but they got bridge financing until the first house sold and bought another house….COB once bridging was paid for……

    • Yes, we’ve been looking around to see what is out there. We don’t have anything holding us where we are and with so many cities surrounding us and easy ways to commute we may look into it further. Who knows where we will end up!! :-)

  13. You guys are doing great. I love how you pointed out that when you have debt others have control over your finances, to a certain extent. Either way, there is nothing like the true freedom you have when you do not owe any money. Keep moving down the good path even when it’s hard.

  14. Great work, Mr and Mrs. CBB. SO happy for you. :-). Good luck on the property decisions. We too are thinking about moving to a smaller town and getting a smaller mortgage in the process.

    • That’s great news Laurie!! I’m not sure what we will do yet. We don’t want to jump the gun as we know that in an instant everything could come crashing down. We are always watching our steps financially.

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