Our FIRE Movement & Debt Free Goals

Long-Term Benefits versus Short-Term Problems

“Always think about long-term benefits and not short-term problems”. — Craig & Jane Horton.

I love this quote. I’m currently (and finally) reading @coachcarson1 “Retire Early with Real Estate” and this was part of a featured RE Investors quote. If you dwell on the short term problems, you’ll never see the long term benefits. Trust us, Our journey started with SO MANY problems it was hard to see what the future would be or could be.

Our Short-Term Problems
  • We left our home in Nashville without finding tenants. It was vacant for 4 months. No rental income, we covered all bills during that time, including:
  • Our debt was so bad. We purchased a 2006 F-350 $18k that was determined not safe to pull our RV. Lawsuit & attorney fees & expenses, storage expenses for the truck, insurance, etc for 9 MONTHS!!
  • We bought another truck. More debt. $30k, massive monthly payment. Drove from Nashville to Illinois and back in one day to get it.
Did we quit? NOPE. But I will admit, the truck lawsuit took so much of confidence away.
  • Student loan debt totaling $137k at the time we left.
  • Credit Card debt totaling $8k at the time we started our RV journey.
Debt is DUMB, but we were NORMAL. Normal totaled something around $240k in debt when we started.
  • Financed our RV. $49k owed when we started our journey.
  • 2 Investment property loans borrowed from retirement, totaling $45k at the beginning of our journey.
We know the long-term benefits exceed these short-term problems

In the last 22 months, we’ve removed most of those short term problems and have setup some long term benefits for ourselves. Sure, there were many times we felt defeated and struggled to understand what our future looked like. BUT we didn’t give up. We kept going because we understood the long term benefits beyond these short term problems. It certainly wasn’t easy though! Blood, sweat, & clogged black tanks have all been a part or our journey.

What’s left?

The ONLY short term problems left are the RV Loan and the Investment Property Loans. $74k left. We were supposed to be celebrating being debt free this month, that was the plan at the start of 2020, but thanks to COVID, we are delayed.

AND that’s OK. We’ll get there. Nothing else has stopped us at this point!

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