Went 100% debt free today

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Congrats! Its a nice feeling not having to pay any extra payments on top of the regular bills! Nice set of cars too! We had everything paid for until the wife wanted a new(er) car and we got the Outback. 1% interest for 4 years was hard to turn down, so I guess we aren't debt free anymore but were not upside down on it either.
 
Welcome to the club. Great feeling eh?
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Enjoy your celebration today and the savings that will follow.
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Thanks for the well wishes everyone, it sure feels good
Originally Posted by racin4ds
With a signature list of new(er) nice cars like that, I have to ask what in the heck you do for a living? You owe on none of those vehicles or a house? How old are you?

Congrats though! Thats awesome!

I do mostly IT work but my wife and I opened a services type firm 10 years ago that allowed us to break out of the grind. We were paycheck to paycheck at that point. We have been very lucky, we took on a very smart partner early on and have grown steadily. I am proud to say we employ 15 great people who have helped us along the way. There have been a few hiccups but it has been very rewarding. BTW 3 of the cars are mine, the Porsche and the gtx are for fun, the rest are mine, my wifes and kids DD's except for the F150 which I gave to my dad. The loan I payed today was my last commercial loan (mortgage). I am in my early 50's and yes all cars, house and commercial loans are gone. Yipee
 
Originally Posted by StevieC
Welcome to the club. Great feeling eh?
thumbsup2.gif


Enjoy your celebration today and the savings that will follow.
grin2.gif



Having been part of that club since age 33, enjoy the freedom and peace not having the *"beast that never sleeps" clawing at your door brings.


*interest
 
To skyactiv: You said, "But my wife and I have no children which I've always wanted and will never have. Money isn't everything."

I know this is a sensitive / personal subject but do remember, everyone who goes down the "family plan" road ALWAYS wants the kids and everything else to work out perfectly just like a happy TV show.

If anyone anywhere has reservations regarding doing some traditional path there might be a reason(s).

Many a societal norm has its roots in countering child mortality-having bodies to run a farm-protecting property. Rendering you happy isn't society's goal.

You "doing your job and keeping quiet and resembling everyone else" is all they want from you.

Lotsa bad families and situations out there. There are no guarantees.

Yes, I'm a bit jaded but realistic. No, I'm not cynical or anti-family or whatever else any scolder wants to say.
 
Congrats! I figure I'll be roughly your age when I hit that milestone as well (I'm late 30's), as I've got ~12 years left on my mortgage.
 
Originally Posted by Kira
To skyactiv: You said, "But my wife and I have no children which I've always wanted and will never have. Money isn't everything."

I know this is a sensitive / personal subject but do remember, everyone who goes down the "family plan" road ALWAYS wants the kids and everything else to work out perfectly just like a happy TV show.

If anyone anywhere has reservations regarding doing some traditional path there might be a reason(s).

Many a societal norm has its roots in countering child mortality-having bodies to run a farm-protecting property. Rendering you happy isn't society's goal.

You "doing your job and keeping quiet and resembling everyone else" is all they want from you.

Lotsa bad families and situations out there. There are no guarantees.

Yes, I'm a bit jaded but realistic. No, I'm not cynical or anti-family or whatever else any scolder wants to say.


OP, NICE! Congrats!
Time to drink a beer/coffee on your patio/porch. It will smell and taste like freedom.

I only have 2 mortgages. Soon only one.

[off-topic]
Kira, reading between words, it may be something that hurts. Also, since both of them worked hard for what they have, they may not really desire the happy TV show, just their own piece of happiness.

There is also the smaller (footprint) societal norm, where every generation lifts the next. I don't want my kids going and growing trough what I have been through. I just hope I'm preparing them better for this changing world.
 
I guess we paid off our house about a dozen years ago and everything has been cash since then. We have also saved up for our daughter's bachelor's degree and probably part of a master's if she goes for it.
I remember telling an old friend I hadn't seen in years about our ski place and he started quizzing me about what kind of mortgage rate we got on a non-primary residence...I was really confused for a few seconds because I didn't remember our mortgage terms! I finally came to my senses and told him we paid cash for it...he just stared at me like "WHAT!?!?!?"
 
Originally Posted by Smokescreen
Originally Posted by StevieC
Welcome to the club. Great feeling eh?
thumbsup2.gif


Enjoy your celebration today and the savings that will follow.
grin2.gif



Having been part of that club since age 33, enjoy the freedom and peace not having the *"beast that never sleeps" clawing at your door brings.


*interest

Yes and the first thing I did when the bills were gone was continued living off the same income and putting the no longer needed income into investments.
Who knows how long my back is going to hold out before I have to retire.
wink.gif
 
Last edited:
Originally Posted by OVERKILL
Congrats! I figure I'll be roughly your age when I hit that milestone as well (I'm late 30's), as I've got ~12 years left on my mortgage.


That's great. You own your vehicles outright?
 
Originally Posted by madRiver
Originally Posted by OVERKILL
Congrats! I figure I'll be roughly your age when I hit that milestone as well (I'm late 30's), as I've got ~12 years left on my mortgage.


That's great. You own your vehicles outright?


No, but the mortgage is the only long-term debt. Small note on the Jeep, which will be paid off shortly. Quad is paid for, wife is paying off the truck (it's hers) which I am encouraging her to pay off early. Assuming we don't do any further vehicle shuffling, we could pay the house off significantly sooner but with the penalty for doing so, it likely won't make sense unless interest rates go way up. We are currently paying just a hair over 2% on it and that's locked in for another several years.
 
Very easy to do if you have a game plan and discipline.

Wife and I are debt free and taught our kids to be wise with their money.

No debt reduces a lot of stress and worries.
 
I'm probably about 5 years away from debt free, but the reality is when that happen I'm going to be worrying about kids' future tuition and parents / inlaws' medical and liability. I don't know, maybe I'll buy a couple property in retirement locations, so they will be taken care of.
 
Originally Posted by Kira
To skyactiv: You said, "But my wife and I have no children which I've always wanted and will never have. Money isn't everything."

I know this is a sensitive / personal subject but do remember, everyone who goes down the "family plan" road ALWAYS wants the kids and everything else to work out perfectly just like a happy TV show.

If anyone anywhere has reservations regarding doing some traditional path there might be a reason(s).

Many a societal norm has its roots in countering child mortality-having bodies to run a farm-protecting property. Rendering you happy isn't society's goal.

You "doing your job and keeping quiet and resembling everyone else" is all they want from you.

Lotsa bad families and situations out there. There are no guarantees.

Yes, I'm a bit jaded but realistic. No, I'm not cynical or anti-family or whatever else any scolder wants to say.

I'm sure many people wish they never had children...they just don't dare admit it.
 
Congrats! Only debt I have is my mortgage. I pay extra on that so that I can get it paid off early. I buy used cars with cash, use credit cards like cash and pay them off every month. I have never paid a penny in credit card interest.
 
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