6 months ago after grouping all the monies together from poker, stocks, and the sell of The Melody; i was staring at $225K in cash.
I pondered...
then some more...
what shd I do w the money????
Some options that crossed my mind were:
-travel and play higher
-leave money in ENPH
-pay off house
-buy another flip property
We all know the best choice wd hv been to leave in ENPH! I saw that biotch go from .75 to 5.08 in 6 months!
Cd hv been a millionaire.
Instead, we group all the monies together and pay off the mortgage, and left me w peanuts.
Before I made my decision, I had a talk with Sara. Explained to her I cd save us 25 more years of mortgage payments, but its gonna leave me w only a few thousand $. I asked her if she can still be responsible for her half by paying me $700/mo. *This amount is the same as she has been paying ($700 ea $1400 mortgage payment) since we moved here 5 years ago. Only difference now is her payments go ALL toward principal & NO %interest. f she agree, she wd have the house paid off in half the time.
So after my proposal, i told her basically I cd only do this if you agree. Otherwise, I was just gonna do something else w the money. We had $220K payoff that we were both responsible for.
Now if I held ENPH i cd hv paid this off, and not hv asked her for anything in return. But that didnt happen, so this was pretty much all of my money at that time.
She agreed. After all who wdnt agree to cut the length of their loan in half? You'd hv to be crazy in the head. Basically, she just made $100,000 that day saving in interest. I wasnt asking for anything more, just her half. Wd never try to make any money off her just fair. Growing up middle class, this was a lot of money to me. The most I ever had. And we arent married w both names on the deed. I had to protect me.
We typed up an agreement, signed, and filed it away. If we sell beforehand, all monies put in by both parties will get back their share.
Not gonna lie, even though its a win/win situation for both, it feels douchey on my end.
So yes, Sara pays me $700/mo (until $110K i paid), and $100 every other week (rest of year) for daycare.
Every thing between us is fair 50/50.
We have had a great partnership which has made the relationship strong. Though, when(if?) we get married all of this will seem kind of weird. A part of me wants to be able to do this for free. maybe.
#fulltransparency