Episode-503- The Goals of The Survival Podcast — 14 Comments

    Today is the day! Today I am free! Last december when I started listening to the podcast I changed direction and decided to knock out the last 20 thousand on my last debt (the mortgage). At 6 this morning I fired off the last payment and now I’m debt free! I don’t really know what it feels like yet because I’m still in shock but I bet it’s going to feel great!
    Thanks Jack!!

  2. @Ventiion you just made my day! I will walk on air for the rest of today, thanks for being an example!

  3. @Vention
    SWEET! Congrats!
    I can’t wait to join you in the Dept Free Club!

    Great show again today, Jack!

  4. @Vention

    Congrat’s!! That’s awesome!! My wife and I are close to that same goal.

    @ Jack I love what it says last line on the show note’s “Understand that to reclaim your nation you must first reclaim your life.” You’ve said it before, but it’s really hitting home for me this week. Thanks!!

    Bryan from Vegas

  5. Congrats @Vention! Way to go!!!

    I love when Jack does shows like this one.. I swing from yelling AMEN to hanging my head a bit in shame, to ruffling my feathers, and then to saying HMMMMM….. Thank you Jack for speaking your heart and mind, and enabling us to explore our own spirits and opinions whether we agree with every word or not.

  6. @Vention – Congrats! The wife and I just bought our first home a month ago, I can’t wait to be where you are.

    @Jack – Thanks for your message. You’ve inspired us to buy far less than our agent said we could, and yet get all the house and land we wanted. Plus, we have a plan to take those 29 years and 11 months of mortgage down to 9 years. Thanks!

  7. I LOVE these types of shows – they are very motivational and empowering! Like Brian said, it struck a chord today when you said “Understand that to reclaim your nation you must first reclaim your life.” Jack, you have lit a fire under a lot asses, including mine. Thank you for putting your message out there for all to hear.

  8. Thank you. You put everything into clear words. It is what we all lack in our lives. Understanding.

  9. Great episode! I discovered the podcast back in December 08 or January 09 and at first just ignored the few moments of politics. Now, after listening to the likes of Peter Schiff and others, your view just makes sense. Beyond this, you’re right, we, as Americans need to unite on what we have in common and stop bickering about the things polarizing us.

  10. about paying off home mortgage; Years ago, I was told that you want to keep a small mortgage at all times to use as a write off on your taxes. So, I have never had a goal to pay it off completely even though I could. I still have a small mortgage, and until I hear about any tax benefits of getting rid of it, I probably won’t. Maybe someone will enlighten me?

    Thanks to Jack’s show, I have gotten most of the ‘stuff’ needed for any preparedness. It feels pretty good. I had a list of stuff to get, got it, and I am still working on organizing it so that people who visit that I don’t know too well yet don’t realize what I got. I am a little paranoid about theft. Also, in the event of a economic crisis, I really thought it is a good idea to stock up on stuff while it is still cheap. We are all helping the economy by buying so much I think.

    Never believed 401K since they told us at work about it in 1985. I remember sitting there thinking that this is going to be the biggest scam of a lifetime for some people. Never bought stock. Saved, lived, and spent and quite content. The biggest hurdle now is staying healthy, and trying to make new friends in a new town.

    Moved away from siblings because they would only talk to me when they wanted something. They think I am paranoid and they have always laughed at me and do not respect me. I have given them so much and they are just spoiled, so I have left. It feels great to be away and be enlightened by this show. It feels so good to be prepared and go with the flow. I have learned more in the past year than in a lifetime.

    Never in my wildest dreams did I think I would be so obsessed with alternative energy.

    Thanks Jack, and keep up the great work!

  11. @conserving, Tax benefits hey? Break out a calculator and figure out that you are not getting any benefit at all.

    First only the interest is tax deductible so if you have a 800 dollar mortgage but say 350 is principle and say 150 is property tax the principle is not deductible and the 150 as property tax has nothing really to do with your mortgage.

    So you get a 300 dollar “deduction” but what exactly does that mean? Well it is 300 x 12 months so 3600 dollars BUT not only have you spent 650 x 12 (total payment less the property tax) or 7800 spent to end up with a “deduction” of 3600.

    More though you don’t deduct the 3600 from your taxes but from you income. Hence if you are at the 25% tax rate you just spend 7800 to reduce your taxes by 900 dollars. As in you reduce your income by 3600 and don’t pay tax on that 3600 so 3600 x 25% = 900. Not so attractive when you see the numbers now is it?

    So I will make you a deal, you send me 7800 dollars for every 900 dollars you want to save and I will pay you the 900 dollar refund. You and anyone else may send me as many 7800 dollar checks and I will even beat the government and send you a bigger refund of 1500 dollars ;>)

    Now you said a “small mortgage” so it may be less than 900 dollars but it doesn’t matter the percentages will work out the same.

    Now a mortgage deduction is a good deduction if you have a mortgage, but you don’t get on just for the deduction. It is an advantage over renting, not much more. Make sense?