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Old 02-05-2013, 07:31 PM   #21
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21k to pay off my second mortgage. I could sell, I have cash to cover the difference, and be out from this underwater beast. We'd rent a couple years, our cars are already paid for, so we'd have a down payment pretty quick, and pay for a chunk of our house up front.

110k would pay off my condo and allow us to buy a home using my condo as a "in home" daycare.

Soryr fro typos. Setn by iPhone.

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Old 02-05-2013, 07:32 PM   #22
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Re: What Is the Least Amount of Money It Would Take

For me, it would be $50k. That would get us out of our underwater mortgage, pay realtor fees, and give us about $20k as a down payment on another house. My only money-related goal is to get out of this house. We're so cramped!
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Old 02-05-2013, 07:46 PM   #23
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Re: What Is the Least Amount of Money It Would Take

Since we have one child in college $35K per yr (fabrics & textiles - made her little sister a great organic line of clothing with applique nature pictures) before merit scholarships; one finishing up private high school $8+K per yr and entering college next year, three in middle/elementary private school $13K per yr, and one in nappies, I would say a good six figures to pay all the childrens tuition as well as college tuitions. Even if you are debt free, have some savings, and a bit for retirement, college is a big hit even with scholarships and students part-time jobs. Currently, we do not pay college tuition. We do, however, give great gifts like cameras for photography, babylock sewing machines, great scissors, and other supplies for college (art/crafts supplies are pricey) along with "care packages" and "bonus money" here and there....especially during exams and end of the year project times. It would be nice to help pay a percentage of college and be able to retire....
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Old 02-05-2013, 07:47 PM   #24
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Re: What Is the Least Amount of Money It Would Take

Around 15-20k after uncle sam took his cut. That would pay off our van, our student loans and have enough left to put in savings to have about 1.5 months worth of emergency money set aside.
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Old 02-05-2013, 07:49 PM   #25
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Re: What Is the Least Amount of Money It Would Take

we would need 500k..... man that makes me sick.....
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Old 02-05-2013, 07:54 PM   #26
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Re: What Is the Least Amount of Money It Would Take

We were talking about this at work just yesterday.
We decided that for such a HCOL area 1 million $ would make life better (paid off house + good start on retirement savings) but it wouldn't be enough to be able to quit your job forever. Might be enough for 1 income household though.

If my mortgage only were paid off that would free up $1500/mo which is a good amount, but not life altering.

We settled on $5million. LOL.
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Old 02-05-2013, 08:10 PM   #27
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Re: What Is the Least Amount of Money It Would Take

About 30,000 would be a godsend. We could pay off debt and get a car. We are very stuck right now and it's really hard to move forward without a vehicle.
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Old 02-05-2013, 08:17 PM   #28
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Re: What Is the Least Amount of Money It Would Take

50,000. That would pay off our house and leave us totally debt free!!

P.S. I am now accepting donations toward my major life change. Lol.
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Old 02-05-2013, 08:26 PM   #29
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Re: What Is the Least Amount of Money It Would Take

Well, we are buying a new van friday, so it would take $60,000 to pay off the house and the van and be debt free! Wow, that would be nice. We are in a very low cost of living area (I bought my house for under 50K at a low time in the market, it would sell for only 150K now).

To change my life other than just be debt free...I'd say $200,000, then we would be debt free, could do a few renos the house needs and put the rest away to earn interest, plus put away a large portion of our pay for education for the kids, and retirement!
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Old 02-05-2013, 08:28 PM   #30
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Re: What Is the Least Amount of Money It Would Take

1 million. Anything lower than that probably wouldn't change things. We could pay off all of our debt but DH would still have to work so our lives would still probably go on as usual. We probably would take a few expensive vacations.
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