Author Topic: Bug in / Bug out  (Read 8665 times)

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Offline Dangphool

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Re: Bug in / Bug out
« Reply #40 on: March 08, 2014, 10:29:16 AM »
We are definitely planning on bugging in if at all possible as well. I pack a get-home bag when I have to travel for work but always leaves me nervous as I have to travel so light.  We are currently focusing our short-term activities on debt reduction.  The less debt we have, the more flexible our responses can be regardless of the nature of the 'event'.  Once some of that debt is retired, we can start looking into purchasing our own BOL.  That is our mid-term goals.
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Offline icrcc

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Re: Bug in / Bug out
« Reply #41 on: March 08, 2014, 11:59:17 AM »
Sounds like a good plan. Debt reduction should be on everyone's agenda. Some debt is usually unavoidable, if you want to own property mortgages must be used by everyone who is not independently wealthy. High interest loans though should be a target for reduction by everyone.
It may never happen. Best to be prepared just in case.

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Offline JustABear

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Re: Bug in / Bug out
« Reply #42 on: March 08, 2014, 12:16:51 PM »
One way to address debt currently would be to consolidate. Mortgage rates are currently being offered at 2.99% so are likely attainable below that. Something to ponder.
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Offline Henry

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Re: Bug in / Bug out
« Reply #43 on: March 08, 2014, 07:34:30 PM »
When I came to Canada in 68 ( after Russian invasion) I met my grandfather  for first time ( he came after 1 ww) the wery  first advice he gave me was to buy a house and pay it off fast. After I got married that exactly what I did. First 10 years every penny went to the mortgage. We paid it off and only than I realized how great advice it was. When you have no loans, no mortgages and you buy everything for cash you can say you are FREEE.
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Offline fleetway

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Re: Bug in / Bug out
« Reply #44 on: March 08, 2014, 07:51:28 PM »
I paid mine off in 7 years, got rid of the wife first. Now I really do have a bit of money. Darn women!

Online tazweiss

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Re: Bug in / Bug out
« Reply #45 on: March 09, 2014, 04:46:04 PM »
my wife and I were lucky.  Before we met, I had been saving every cent I could and had a fair bit socked away.  She had a condo, which she had been paying down as quickly as she could.  When we married, I used up most of my savings and paid off the condo.  We still had some money left over, so we put a down payment on an acre with a cabin.  Shortly after, I went on an extended tour in Afghanistan.  During my tour, my wife put every dollar I sent home, toward paying off the cabin.  Also, during my tour, the real estate bubble happened and our property tripled in value.  When I returned, we sold the property and bought another, further from the city.  Because of the difference in land values (being further from the city), we were able to pay cash for the second property.  Now we have 8 acres with a cabin and a third of a mile of river front.  Our property tax is less than a months rent for a single room and we pay cash for everything.  Even though we're sittin' pretty, we're not sitting still.  We continue to make improvements to our little place whenever we can.
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Offline livingpower

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Re: Bug in / Bug out
« Reply #46 on: March 09, 2014, 05:01:15 PM »
my wife and I were lucky.  Before we met, I had been saving every cent I could and had a fair bit socked away.  She had a condo, which she had been paying down as quickly as she could.  When we married, I used up most of my savings and paid off the condo.  We still had some money left over, so we put a down payment on an acre with a cabin.  Shortly after, I went on an extended tour in Afghanistan.  During my tour, my wife put every dollar I sent home, toward paying off the cabin.  Also, during my tour, the real estate bubble happened and our property tripled in value.  When I returned, we sold the property and bought another, further from the city.  Because of the difference in land values (being further from the city), we were able to pay cash for the second property.  Now we have 8 acres with a cabin and a third of a mile of river front.  Our property tax is less than a months rent for a single room and we pay cash for everything.  Even though we're sittin' pretty, we're not sitting still.  We continue to make improvements to our little place whenever we can.


That's a sweet setup, taz.  I am at the beginning of paying off debt I attained in the early years as a single mom.  I have been working on a plan over the last couple of days, which as long as I stick with it, will see me owning my own property in 4-5 years.  I just hope I have that long before the SHTF!  :o