I’ve been Debt Free since the beginning of February 2010!
I became Debt-Free in the article called “I Am Debt Free, My Mortgage Countdown #1 – Equilibrium“. In the article, I revealed the technique I used to become Debt Free in 10 years and how I felt. It was truly an exciting moment in my life. But now life has stagnated from a financial perspective, I feel kind of lost without the instant feedback in my monthly debt levels.
Oh sure, I’m investing in a 401k and my regular brokerage account, but the accumulation of money is slow going and not as exciting as paying down my debt monthly. Yes, I’m accumulating money, but at the same time, I find that I’m almost bored by the process since the cashflow from my earned income is so low.
So I’m considering going back into debt to increase my cashflow. It’s not consumer debt though, it’ll be debt used to buy assets to speed up my progress on becoming wealthy. I hope to use debt for the two opportunities below:
- Own real estate
- Start and invest in small businesses.
Some may find it odd that I’ve never had credit card debt that lasted more than a month and I paid my cars and house off early, but now I’m contemplating going into debt to buy real estate. You might think that I’m even a bit off-kilter, and perhaps I am? But I still want to try to own real estate, for the following reasons:
- Find out what it’s like
- Help renters in a positive way
- Try to make some money off of it
- Diversify my assets, but having both investments and real estate
- Increase my wealth
- Develop verbal people skills to become more proficient in the process.
So over the next few months or years, I’m going to look and call around trying to find a great deal on properties that I won’t lose on.
We’ll see…
Don