February 18, 2022, 06:16 PM
oldbill123Debt free
Worthy milestone. However, you will owe taxes forever
February 18, 2022, 06:36 PM
blueyeFantastic.
February 18, 2022, 06:47 PM
Hay2balequote:
Originally posted by oldbill123:
Worthy milestone. However, you will owe taxes forever
And you will need a new roof, windows, heat pump, and so forth. When we paid off our mortgage, the wife put the monthly payment into an account for all the repairs and she had an extra $10K in that account. Then she retired.
A paid for home is an important step towards a comfortable retirement.
Congratulations!
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Dances with Crabgrass
February 18, 2022, 07:20 PM
.38supersigThat is fantastic!
It is a great feeling when you realize you no longer live in the bank's house.
February 18, 2022, 07:27 PM
NavyGuyCongratulations. I remember the feeling. We had a cocktail or two.
Men fight for liberty and win it with hard knocks. Their children, brought up easy, let it slip away again, poor fools. And their grandchildren are once more slaves.
-D.H. Lawrence February 18, 2022, 07:33 PM
MikeinNCquote:
Originally posted by NavyGuy:
Congratulations. I remember the feeling. We had a cocktail or two.
Just got back from BBQ where Mrs. Mike had a Cosmo( she hardly drinks). I had a whiskey when we got home.
No credit cards, no house payment, we upped the insurance coverage on the casa and cars and already have enough cash to cover the taxes and 6 months of living expenses.
We listen to Dave Ramsey but still use a card because you have to have one to order stuff off the internet, and we pay it at the end of the month(nothing carries over).
"Violence, naked force, has settled more issues in history than has any other factor.” Robert A. Heinlein
“You may beat me, but you will never win.” sigmonkey-2020
“A single round of buckshot to the torso almost always results in an immediate change of behavior.” Chris Baker February 18, 2022, 08:31 PM
signewtPaying off the home produces a heady sense of being in control of the Universe.....
congratulation.
February 18, 2022, 08:44 PM
71 TRUCKCongratulations, great feeling to be debt free.
The Second Amendment to the United States Constitution.
A well regulated militia being necessary to the security of a free state, the right of the people to keep and bear arms shall not be infringed.
As ratified by the States and authenticated by Thomas Jefferson, Secretary of State
NRA Life Member February 18, 2022, 08:56 PM
pedropcolaCongrats, that is a nice accomplishment.
February 18, 2022, 10:13 PM
pbslingerquote:
Originally posted by coloradohunter44:
Congrats! It is a wonderful feeling isn't it. Just remember to set aside for your taxes and keep your insurance up to date.
My current taxes + insurance are higher per month than my original mortgage payment + insurance + taxes.
February 18, 2022, 10:20 PM
OzarkwoodsNice feeling for sure!
ΜΟΛΩΝ ΛΑΒΕ
February 18, 2022, 10:22 PM
scratchyCongrats! that is awesome. I hope to join you in that status in the next 3 years.
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February 18, 2022, 10:45 PM
joel9507Good work!
February 19, 2022, 12:36 AM
slosigSuhWEET! Congratulations!!!
Enjoy the reduced stress.
February 19, 2022, 11:11 AM
gjgalliganCongrats!
I know the wonderful feeling you are experiencing.
I paid off my house when I retired and was debt free. I now have more money in the bank that I ever had!
Integrity is doing the right thing, even when nobody is looking.
February 19, 2022, 11:14 AM
DSgrouseCongrats, my wife and I are working towards that very goal.
On a side note, I ran across this piece of comedy gold today.
https://www.marketwatch.com/am...%2F%2Fwww.google.com quote:
‘My partner is afraid to marry me because of my debt.’ I’m 35 and have $380K in student loans from two master’s degrees. What should I do?
Updated: Feb. 16, 2022 at 12:50 p.m. ET
February 19, 2022, 11:15 AM
old rugged crossThat is a great accomplishment. Congrats to you both. Now enjoy.
"Practice like you want to play in the game"
February 19, 2022, 11:19 AM
armedprofAwesome!!
...and jealous!
Do, Or do not. There is no try. February 19, 2022, 11:38 AM
VeeperIs it true that the soil feels different under your feet?
Well done! Congratulations!!
“The urge to save humanity is almost always only a false-face for the urge to rule it.”—H.L. Mencken February 19, 2022, 02:30 PM
Flash-LBquote:
Originally posted by oldbill123:
Worthy milestone. However, you will owe taxes forever
Yeah, I paid my house off in 1994 and sold it and bought my new one for cash.
But let's see, I currently pay $1,400.00/year for taxes on it. Where else can you live for $1,400.00/year?
And since I don't have a mortgage any more, I saved around $1,200.00/month for the last 27 years.
Let's see, that's $388,800.00 and if I had invested that money at 8%/year which I did, I'd be a millionaire that only pays $1,400.00/year to live in his house.
Seems like a great idea to me.