It's official. Lee owns his practice! Lee presented the last payment check to Dr. Downey today.
Dr. Downey was very generous and allowed Lee to be in the old building rent-free/commitment-free for three months. Close to the middle of November, Lee signed an agreement to buy the practice over the course of three years. We always wanted to finish buying the practice in one year, but really had no idea how and when that would happen. I got the thought stuck in my head that I wanted to finish buying the practice in March 2012; April at the latest. Even though I knew it wasn't a timeline that could be guaranteed, I still hoped for it.
Well, thanks to Lee's part-time side job, a lot of sacrificing (have you ever added water to your milk before?), some money from the IRS and a few earnings from the practice, we were able to complete the buying process in just 3 1/2 months!
Lee recently talked to Dr. Downey about the balance of the pay-off amount. We wanted to know exactly what we owed before writing a huge check. Well, we owed him $44 less than what we thought. To celebrate the big event, Lee and I are going to split the money and buy fun food items with it. I know, I know, we are party animals! Today when Lee have him the final check Lee said: "This represents a lot of rice and beans."
Heavenly Father has truly blessed us. Now we'll be on to building the practice, integrating an EMR sometime and hopefully start saving for retirement and a house again!
Friday, February 24, 2012
Another Step Forward
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19 comments:
Yay! Congratulations! That's such a huge milestone. You guys have definitely sacrificed a lot.
Congrats to you & Dr. Robertson for paying off your practice so FAST-if anyone could do it, it's you!
Hunter & Justin were looking at your pictures with me & they loved Cal's little "baby" snowman. Glad you had a good Valentine's Day & fun little reunion with some of your family. And so cool that you saw KIM! What is she doing back that way? Does she live in DC?
Hooray! Nicely done, Ruth! You're a great example.
Way to go Ruth and Lee! What an accomplishment!!!! You paid it off before March!
Good for you!
That's so AWESOME!!! You own your own practice...what a great feeling. I have always admired all your frugalness. I know you guys will be financially just fine! I was bummed though...I thought you were going to say you were pregnant ;) !
Congrats you guys!!! Ruth, you guys are hard-core at saving & paying things off! Great job;)) sure miss you all, so glad life is going well!!!
Congratulations!!! I'm so excited for you!
That's great news, congratulations!
Congrats! What a huge accomplishment! You and Lee are great examples to Brett and I. Brett is one of four owners in his practice. We started a four year payment plan about a year ago. We are really looking forward to the day we can say we have payed his portion of the practice in full.
Wow!!! you guys are amazing!!! seriously!! congrats with such a special day you have worked so hard to reach!!!
You guys are AMAZING!!!! Congrats! You are an example to us ALL! :)
Congratulations! That is fabulous!! I know you are proud of all your hard work and thrift! I also know that Heavenly Father blessed you because of that!
- Susan
Congrats! You guys are awesome and such a great example to us all of the principles of living within our means and frugality. So I guess this means you have taken up somewhat permanent residence then? So exciting, can't wait to see what great things happen in your future!
Truly so excited and happy for you guys! This is huge! You guys never cease to amaze me! Thanks for sharing your awesome news!
Congratulations on your accomplishment!
Congratulations on your accomplishment! That's great! - Jeff's mom
That is absolutely incredible that a 3 yr. contract was paid off in 3 1/2 months!!! You are AMAZING! What an example to all of us!
You guys are such an inspiration! I think of your sacrifices whenever I want to blow our budget on something frivolous. Live like no one else so then you can live like no one else. Right?
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