Log In
Home
15 Feb ’12
Offline
and ticks people off, you can't make this stuff up anymore, so much for sharing frugality and a hard work ethic
He paid off his $255,000 mortgage in three years and two months.
It’s an achievement many would be proud of, but some did not like Cooper’s industriousness and were scathing of his frugal lifestyle.
Cooper rented out the top floor of his home and lived in the basement to help pay down his mortgage.
"Upstanding citizen works his life away, lives in miserable squalor and forgoes human relationships for years. How is this an inspirational story?” one man said on the CBC Facebook page.
Others didn’t want to applaud another example of white privilege: “Yet another privileged white man bragging about how he ‘did it on his own.’ But did anyone notice how big his down payment was? Or the fact that he has a $75k+ full-time job?”
Even his work ethic had some fired up: “So he took three jobs when people are struggling to get one, so that he can pay his debt off faster, while others trying to find a job struggled,” one woman wrote.
Some got even more personal, saying they felt sorry for him.
“If he hopes to woo a mate with whom to enjoy his financial standing, he isn’t going to need applause — he’s going to need something to talk about, like a person, besides *work* or ‘frugal’ ways to gussy up Kraft dinner,” one man said.
“I’m not particularly happy for him, I pity him — he’s a model victim of a deranged cultural ethos that elevates work and money and possessions above all. He’s ‘relieved’ that his house (where he barely lives) is paid off?
“Great, but is he satisfied with *any other aspect* of his life? How could he be — when has he had time to be?”
26 Nov ’15
Offline
Real grasshopper and ant story! We have been living debt free for the last 30+ years. We did that by taking a chance on OURSELVES, some would say 'risking' the nest egg we built up and redirecting it towards our OWN 'efforts'. One can apply a LOT of efforts directly towards what will pay back directly to/for you. And the secret 'gain' in this is that one doesn't get taxed for one's own direct efforts (washing dishes, hanging clothes to dry, gardening, cutting firewood etc.).
This would have been a GREAT story if he has paid off a homestead instead of a 'house'. Maybe he will leverage the house to a homestead next?!?
The following users say thank you to Jain for this useful post:
SpeedfunkMy personal motto - The Home, a peace worth fighting for.
15 Feb ’12
Offline
everyone thought we were crazy when we closed out our investments and chose to invest in ourselves instead of the market, now that we have zero debt, we need to start focusing on that again since we are not getting any younger, sad part is the biggest concerns for us is taxes and insurance, we currently pay almost 1500 dollars a month between those two line items, that's a big nut to crack.
The following users say thank you to K for this useful post:
Speedfunk, jonathco26 Nov ’15
Offline
KVR said
everyone thought we were crazy when we closed out our investments and chose to invest in ourselves instead of the market, now that we have zero debt, we need to start focusing on that again since we are not getting any younger, sad part is the biggest concerns for us is taxes and insurance, we currently pay almost 1500 dollars a month between those two line items, that's a big nut to crack.
Realizing that 'the more you make, the more they take' was working against us, we instead aimed at what I coined 'legal poverty' - living WELL, but below the 'poverty' line tax wise. This required that we made a very focused look at expenses and how we could meet needs as money LE$$ as possible. Living debt free releases one from home insurance requirements. Our choice to build with fire proof (adobe with tile roof) /resistant (fiber cement siding) materials takes care of a lot of fire concerns. Keeping a vehicle for years decreases license and insurance fees not to mention the HUGE sales tax payment that a new vehicles tacks onto the price. Choosing a location that bases its property tax on as small a % of evaluation (and increase adjustments!) as possible helps to decrease net out go.
When we sold and moved to our first 'homestead', our portfolio balances (real estate, cash, investments) were thrown out of whack to say the very least. But as we applied our efforts towards our own needs, we were slowly able to tilt the scales back more towards a happy balance of those items. 'Brain work' isn't taxed! the more you can thunk up alternatives, the better your chance to find and make use of ways that turn the tables in YOUR favor. GOOD luck 
.
The following users say thank you to Jain for this useful post:
SpeedfunkMy personal motto - The Home, a peace worth fighting for.
15 Feb ’12
Offline
very true, the taxes should be easy to take care of, part of the reason it is so high is because our house sits directly behind our business which is included in our property bill, not sure why they keep doing that when our home sits on a totally separate 7 acre lot that we had surveyed off from the original property, I've tried arguing with them for a couple years and gave up, funny thing is my taxes would probably be higher if they did break them up.
So long term we would physically break up the properties with fencing and driveway and force them to recognize it as two individual pieces, right now we just have a 20 foot right of way across our business.
Other option I just torch the business after it is paid off, have a huge block party while it happens and petition the planning board to change the zoning from village commercial to mixed used agricultural and plant a huge corn field out there.
The following users say thank you to K for this useful post:
jonathco
6 Feb ’13
Offline
nice guys both kvr and jain debt free..wtg!
I will be there again next month. We had to buy an excavator(good descion)at zero percent to finish homestead earth works... but when its done it will go ( 2 years?ish). Regardless next month I get a 4000 check from a network gig (beyond my usual workload) ..that money will pay of the 3k I owe on excavator and I will be free like you guys. No debt period...Free!
Your right kvr. business taxes are a pain...they seem to asess buisnesses higher then residnetial so you might be onto something torching (or maybe selling said business if you want to minimize a bit)
Our taxes are 1500/year. Wife pays half, I pay half so that's the only money we really need to make from here on out. I guess electric too. so that would be 1200/yr devided by two (this should go down in future with energy retrofits such as water wheel and biomass water heater that's planned). So ...$750/yr for taxes and $600/yr for electric 1350/yr total . I think I can do that.
editing to add..that even electric not being paid would not be end of world. We got solar lights...gravity feed water. Woodstove to cook and hat water....certainly doable..so really 750 all that is REALLY needed lol....
15 Feb ’12
Offline
what did you get for an excavator?
6 Feb ’13
Offline
I got a kubota kx41-3v
amazing little guy.
off to use it now....got to finish leveling off a parking pad ..i got it mostly set but still requires a bit of sculpting....then we can get the car all the way in 😀
Most Users Ever Online: 698
Currently Online:
71 Guest(s)
Currently Browsing this Page:
2 Guest(s)
Top Posters:
easytapper: 2149
DangerDuke: 2030
groinkick: 1667
PorkChopsMmm: 1515
Gravel Road: 1455
Newest Members:
Forum Stats:
Groups: 1
Forums: 12
Topics: 11482
Posts: 58640
Member Stats:
Guest Posters: 2
Members: 19842
Moderators: 0
Admins: 1
Administrators: K
