net worth Forum

[eddietx12]

im down to -$300k after this term, and I'm a 3L now.. will be down $-345k after all is said and done (undergrad, auto, student, upside down mortgage).

Is anyone here broker than me?

[stinger35]

im down to -$300k after this term, and I'm a 3L now.. will be down $-345k after all is said and done (undergrad, auto, student, upside down mortgage).

Is anyone here broker than me?

I highly fucking doubt it. 345k?????? I'd start playing the lotto or working towards becoming a professional athlete. Otherwise, you are fucked.

(please don't have kids)

[pugalicious]

Well...upside-down mortage I wouldn't really count as "debt", as long as you can still make the payments for a few years you may see some appreciation in its value (unless it's in the southwest...).

[AtticusFinch]

im down to -$300k after this term, and I'm a 3L now.. will be down $-345k after all is said and done (undergrad, auto, student, upside down mortgage).

Is anyone here broker than me?

Damn it will take a hell of a lot of broker's commissions to pay that off. GL

[orangeswarm]

Well...upside-down mortage I wouldn't really count as "debt", as long as you can still make the payments for a few years you may see some appreciation in its value (unless it's in the southwest...).

Really? If a mortgage isn't debt, what the hell is it?


And OP, that is freakin' crazy. I doubt very many have you beat in the debt category.

[mapes]

an asset

[orangeswarm]

The home is an asset, the debt is not.

[Flanker1067]

You are an inspiration to us all. Hope you have Biglaw.

[stinger35]

You are an inspiration to us all. Hope you have Biglaw.

I mean, even that isn't going to do it. I don't see how you can actually pay that off. Who even lets you borrow that much?

[OGR3]

You are an inspiration to us all. Hope you have Biglaw.

I mean, even that isn't going to do it. I don't see how you can actually pay that off. Who even lets you borrow that much?

The robot overlords running this country.

[macattaq]

You are an inspiration to us all. Hope you have Biglaw.

I mean, even that isn't going to do it. I don't see how you can actually pay that off. Who even lets you borrow that much?

Its very doable, even on less than a BigLaw salary.

[AtticusFinch]

You are an inspiration to us all. Hope you have Biglaw.

I mean, even that isn't going to do it. I don't see how you can actually pay that off. Who even lets you borrow that much?

Its very doable, even on less than a BigLaw salary.

Well lets see, less than Biglaw salary lets say $50,000. minus taxes $35,000 net. $345k @ 8% interest over 30 years equals $30k per year. If you can live on $5,000./year very doable.

[sanpiero]

Well lets see, less than Biglaw salary lets say $50,000. minus taxes $35,000 net. $345k @ 8% interest over 30 years equals $30k per year. If you can live on $5,000./year very doable.

I'm guessing OP has a working spouse to help shoulder the mortgage and auto debt. $50k est. salary is pretty low for a UT grad. 345k is doable