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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

Our small business was going well, so we said so long to renting office space and purchased a commercial property in the summer of 2012. Also to top it off, I had a huge property tax due that month for our office building that was going to be difficult to pay for in light of the circumstances. March 2020 arrived.

Debt 130
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The Best And Worst States To Retire In 2023, Ranked

Savings Corner

Iowa lands near the middle of the pack tax-wise. 23 for property taxes and No. 22 for state and local sales tax. Iowa also doesn’t tax Social Security benefits , and Iowans age 55 and older are exempt from paying state taxes on retirement income for tax year 2023. The state ranks No.

Iowa 52
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How We Paid off Six Figures of Debt

Family Balance Sheet

We had been renting for over 10 years and we were ready to find a property to move our business to and eventually build our net worth. Our business was doing very well, and we were excited about the opportunity to own a property outside of our home. Also, the monthly mortgage payment was less than our rent payment.

Debt 130