ohiofarmer 3,157 #1 Posted April 23, 2019 Hey, all I have to say is that it feels great to owe nobody anything. We always lived pretty thrifty, so now our goal is to not buy anything except with cash. We plan to put the mortgage payment in the bank and pay cash for our next car . [Well, maybe a 16 Hp cast iron Kohler as well] 7 8 1 1 Share this post Link to post Share on other sites
Sparky-(Admin) 19,546 #2 Posted April 23, 2019 Congrats!! And I’m jealous Share this post Link to post Share on other sites
Pullstart 59,722 #3 Posted April 23, 2019 Congratulations @ohiofarmer! I look forward to that day Share this post Link to post Share on other sites
ebinmaine 63,138 #4 Posted April 23, 2019 Absolutely fantastic !!! Share this post Link to post Share on other sites
Tractorhead 8,611 #5 Posted April 23, 2019 There is not better feeling than that 👍 Share this post Link to post Share on other sites
The Tuul Crib 7,332 #6 Posted April 23, 2019 Quite lucky in times like this . Most of debt these days comes from medical bills ! Congrats!! 1 Share this post Link to post Share on other sites
953 nut 51,682 #7 Posted April 23, 2019 Welcome to the club! When we built our new house in 2012 we had enough in the bank to cover it, but took out a small construction loan to cover unanticipated expenses. We designed the house to meet our needs within our budget, but were willing to splurge on few things like cabinets and counter tops without totally breaking the bank. When we finished the house we payed the loan down with the remaining loan proceeds and by making double payments we cut it from a fifteen year loan to six. We have always paid cash for everything else, why would we want to pay double for something that diminishes in value? 3 Share this post Link to post Share on other sites
ohiofarmer 3,157 #8 Posted April 23, 2019 2 hours ago, The Tool Crib said: Quite lucky in times like this . Most of debt these days comes from medical bills ! Congrats!! Share this post Link to post Share on other sites
ohiofarmer 3,157 #9 Posted April 23, 2019 Been there as well. A survivor of the club no one asked to join and only two months after the employer talked us into doing FSA insurance is when it hit. Best not complain because the alternative is not being here at all 1 Share this post Link to post Share on other sites
The Tuul Crib 7,332 #10 Posted April 23, 2019 17 minutes ago, ohiofarmer said: Been there as well. A survivor of the club no one asked to join and only two months after the employer talked us into doing FSA insurance is when it hit. Best not complain because the alternative is not being here at all You got that right brother!! After all we wouldn’t be able to enjoy the color Red!!! 1 Share this post Link to post Share on other sites
Cee245 754 #11 Posted April 23, 2019 Congratulations! About 2 years ago we owed A LOT of unsecured debt (credit cards, personal loans thru our Credit Union)... We are now debt free besides our modest mortgage. As most Dad's say, if you "put your mind to it" you can do anything. My Dad and Brothers finally got it through to me about some stuff like that. Lol. Go Dave Ramsey's advice! Cory 3 Share this post Link to post Share on other sites
rjg854 10,737 #12 Posted April 23, 2019 Paid the house off last January, don't owe nobody nuttin 2 Share this post Link to post Share on other sites
peter lena 8,067 #13 Posted April 24, 2019 ohiofarmer, i can relate, before i retired , we went to a cpa, manager , first thing he told us was you have the funds to pay it all off, but typically its all in the wrong places. he gave us a list for us to do and get involved in how things are done. came back in 6 months , with all the corrections done. now we understood what he was saying . best move we ever did , you just look at things differently and solve issues without effort. you are in a different stage of life, enjoy it , pete Share this post Link to post Share on other sites
WHX?? 46,774 #14 Posted April 24, 2019 I hear what yer sayin Farmer and congrats. I bought my place about 30 years ago for 29k. Paid for it twice with a divorce but made balloon payments when I could. Lots of sweat equity in it and today my spread is worth 250k. Sure is nice to be debt free but now no home equity loans or anything like that so Uncle Sam isn't kind to me with no write offs. My friends all ask why I have no mortgage or loans and I tell them I ate lots of beans & wieners in my younger years and always paid off credit cards. It amazes me how many people have $$$$$$$ floating on plastic. I have never paid a dime on plastic interest. Being debt free means you have more disposable income to waste on yourself (and the Missus) meaning more tractors! Being an empty nester doesn't hurt either! Enjoy! 1 Share this post Link to post Share on other sites
Daddy Don 889 #15 Posted April 24, 2019 Way to go. I retired 10 years ago and made sure I did not owe anyone a dime. But the gov still takes their share now. Enjoy this for the rest of your days. 2 Share this post Link to post Share on other sites
dcrage 621 #16 Posted April 24, 2019 Paid our home of in Feb. Now all we owe on is a CRV we bought 3 or 4 years ago. Will pay it off late this year. Yeah! 3 Share this post Link to post Share on other sites
JERSEYHAWG / Glenn 4,487 #17 Posted April 24, 2019 (edited) Best of luck, its a great thing to do. . Cant wait. Glenn Edited April 24, 2019 by JERSEYHAWG / Glenn 2 Share this post Link to post Share on other sites
