Debt Ascent

Peak student loan debt of $521k in 2013. Student loans paid off in 2019. Seven figure net worth in 2020. Slow FI since 2021.

[Debt Ascent @DebtAscent]

@DaveRamsey Being open-minded is obviously important, and I agree with the sentiment. But being lectured about it from someone with a fixed mindset and the most rigid of structures of how to do things financially with seemingly very little open-mindedness comes across as hypocritical.

[Debt Ascent @DebtAscent]

@TPP_MD Totally agree. And this starts at the top. We can’t even fein decency anymore with those we have disagreement with.

[Debt Ascent @DebtAscent]

It is the start of Year 4 of the Slow FI chapters of our life. I still deal with money, but we haven’t let it drive hardly any of our decision making in years.

It’s amazing how fast a relationship with something like money can transform in a relatively short amount of time.

[Debt Ascent @DebtAscent]

There is no way he doesn’t understand sequence of return risk, which is something I could easily explain to an underclassman in high school.

I don’t believe he believes what he is saying. I believe he knows it’s what keeps his followers following.

It’s a sad and ugly sight.

[Debt Ascent @DebtAscent]

This is great analysis by Paula.

I came across this rant today and it makes me almost want to come out of X retirement.

Never had I truly considered Ramsey as an entertainer first, but now I must.

[Paula Pant @AffordAnything]

Dave Ramsey’s nine-minute rant proves several things:

1️⃣ you command attention by having a strong viewpoint, not an accurate one

2️⃣ a confident delivery can make even the most moronic ideas sound plausible

3️⃣ people don’t rally behind what they can’t understand, so …

4️⃣ … to gather support for an idea, make it simple (even if it strips away nuance)

5️⃣ you can dismiss research you haven’t read, using pseudo-math riddled with logical flaws, and those who can’t (yet) think critically will follow along

6️⃣ you have enormous freedom to make claims about the stock market if you never have to cite sources and you’re never held accountable for outcomes

7️⃣ you can ignore things like asset allocation, sequence of returns risk, and volatility — and yet people will still come to you for investing advice, so long as you blend brash overconfidence with folksiness

Truly, it’s a master class in media.

But it’s horrific advice for retirement investing.

[Debt Ascent @DebtAscent]

The extra day a week (and summers) off far outweigh the salary at this point in our life.

If I had stayed doing what I was doing, everything would have been fine. I’m sure I’d be happy. But I don’t miss it, which tells me I made the right call.

[Debt Ascent @DebtAscent]

It’s been a while since I’ve posted. Apparently this account is still active. More than two years since we slow FI’d (if that’s what it’s still called). I hardly think about money anymore. Haven’t looked at my net worth in a year. Don’t regret walking away from the high salary.

[Debt Ascent @DebtAscent]

@DrPayItBack Congrats! Looks like you’ve been working hard at it.

[Debt Ascent @DebtAscent]

@partnersinfire You said we’re basically already in a society where only the privileged can become doctors, lawyers, teachers, & scientists.

I disagree.

[Debt Ascent @DebtAscent]

@partnersinfire She used her degree to get a high paying job, and used that high paying job to pay off all of her loans and build wealth simultaneously.

There are many others like her that have done the same. The system needs improvements, but it’s not broken.

[Debt Ascent @DebtAscent]

@partnersinfire I disagree with this premise. My wife is a dentist. She took out hundreds of thousands of dollars in student loans. Neither parent went to college.

The cost is high. Too high. But it doesn’t prevent those who don’t come from well off situations from changing their futures.

[Debt Ascent @DebtAscent]

@DrPayItBack Yet another benefit of not tracking it at all! There are so many…

[Debt Ascent @DebtAscent]

@matthewlee7 Well, a linear fit seems about as good as any when I checked on when the 11 federal holidays were instituted. At that rate, we’ll fill the calendar year right around the year 9889.

[Debt Ascent @DebtAscent]

@Military_Dollar These people also want to call the bank to have their principle balance increased when the property appreciates, right?

[Debt Ascent @DebtAscent]

@Financialplgrm Stretch it out a few miles and go to Cannon Beach.

Quite a few wineries to the SW in that range if that’s your thing.

[Debt Ascent @DebtAscent]

@Military_Dollar Yes, ANY real cheese > American “cheese” if you’re older than 7.

[Debt Ascent @DebtAscent]

@rosecolordwater Safe travels!

[Debt Ascent @DebtAscent]

@DrPayItBack A dip bar that attaches to your power rack.
Kettle bells.
A bike.

[Debt Ascent @DebtAscent]

@theficouple Yes I could switch to renting or sell it and buy a less expensive house, but I’m not going to. So the equity in that case is relatively meaningless.

It’s “wrong” not to include it, but who cares? It works better for how I view net worth even if it differs from your definition.

[Debt Ascent @DebtAscent]

@theficouple Yes, it’s technically part of net worth. Practically though, some people don’t include it because it’s very different than having $400k in an investment account or cash.

I will always need a place to live, so why count that equity when I have absolutely no intention on using it.