Author Topic: Because I'd feel weird and boastful announcing this to IRL friends...  (Read 1933 times)

Kris

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But I know you all will understand...

I just paid off our mortgage.

Feels good, man.

LorettaLynn

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #1 on: November 01, 2018, 01:34:50 PM »
Congratulations on going mortgage-free!

lhamo

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #2 on: November 01, 2018, 01:45:23 PM »
Congratulations!

Mortgage-burning parties used to be a thing a few decades ago.  Sad that it isn't something to be openly celebrated anymore....

Loren Ver

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #3 on: November 01, 2018, 01:49:22 PM »
SCORE!

former player

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #4 on: November 01, 2018, 01:54:01 PM »
You can tell us anything!

Congrats - not owing anything to anyone is a great feeling.

Kris

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #5 on: November 01, 2018, 01:58:16 PM »
You can tell us anything!

Congrats - not owing anything to anyone is a great feeling.

This is a very exciting moment for us, for sure. We haven't had a car payment for many years, but... wow. No mortgage, no debt whatsoever, is going to take some time to sink in.

magnet18

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #6 on: November 01, 2018, 01:59:28 PM »
Woot woot!!

carozy

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #7 on: November 01, 2018, 02:12:34 PM »
Congratulations!  What a milestone!

marty998

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #8 on: November 01, 2018, 02:18:22 PM »
Well done Kris!

Now where does all the extra cash flow go?

Kris

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #9 on: November 01, 2018, 02:36:53 PM »
Well done Kris!

Now where does all the extra cash flow go?

Investments of various kinds. DH is also retiring in February (at 60), so part of the incentive to do this was so we'd need less money to live on at that point.

mm1970

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #10 on: November 01, 2018, 02:40:02 PM »
congratulations!

Good thing you-know-who isn't here anymore.

Kris

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #11 on: November 01, 2018, 02:41:14 PM »
congratulations!

Good thing you-know-who isn't here anymore.

:D Yeah, he wouldn't approve. And I totally get why -- his reasoning is solid. But in our case it makes the most sense for us. Our near future also includes spending significant amounts of time abroad. And having this home base paid for -- and capable of being rented out in our absence -- was a big motivator.

Then when we're done sowing our wild oats, we'll have a paid-for home to come back to, in a place where the market likely would have priced us out if we'd sold and tried to buy in again later.
« Last Edit: November 01, 2018, 02:45:46 PM by Kris »

AccidentalMiser

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #12 on: November 01, 2018, 02:50:42 PM »
Congratulations!  I'm not in a hurry to rid myself of my mortgage for reasons others have stated but I'm sure it feels great!

DS

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #13 on: November 01, 2018, 02:51:19 PM »
Party at your house!

Peter Parker

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #14 on: November 01, 2018, 02:54:38 PM »
Although I'm in the "do not payoff your mortgage" camp, I understand your feelings!  And I want to echo others and say "congrats!"  Enjoy your freedom and peace of mind!

OtherJen

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #15 on: November 01, 2018, 03:49:17 PM »
Congratulations!

I look forward to saying the same in 15 years (as of today, we're halfway through our 30-year mortgage).

wenchsenior

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #16 on: November 01, 2018, 05:37:27 PM »
Congratulations, Kris!

katsiki

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #17 on: November 01, 2018, 05:40:05 PM »
Joining the congrats train.  Awesome job!!

BudgetSlasher

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #18 on: November 01, 2018, 05:52:55 PM »
Paint the front door red (mostly a Scottish thing, I think). Our house came with one and we have earned it. I plan on keeping it when the door gets replaced.

I like having it blatantly out there, but no one really knowing what it means.
« Last Edit: November 12, 2018, 08:50:26 PM by BudgetSlasher »

MaybeBabyMustache

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #19 on: November 01, 2018, 06:00:42 PM »
Congrats! It's a huge milestone!

Prairie Stash

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #20 on: November 01, 2018, 06:10:42 PM »
Congrats Kris. It's truly a remarkable accomplishment. May I suggest that this should be in the Badassity section, because you're truly Badass?

@BudgetSlasher Thanks for the really obscure factoid! I never knew door colours meant something.

Irishtache

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #21 on: November 01, 2018, 06:19:59 PM »
Congratulations Kris! We did the same in May! I posted it on the 'wrong' forum and got a put down for it! No matter. It!s a nice feeling and l retire tomorrow, Friday! IT

RetiredAt63

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #22 on: November 01, 2018, 06:30:59 PM »
It is lovely having no mortgage, especially in retirement.  Congratulations.

Financial.Velociraptor

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #23 on: November 01, 2018, 06:36:21 PM »
Gogogogogogogo!

HappierAtHome

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #24 on: November 01, 2018, 06:50:57 PM »
Congratulations Kris!!

Paint the front door read (mostly a Scottish thing, I think). Our house came with one and we have earned it. I plan on keeping it when the door gets replaced.

I like having it blatantly out there, but no one really knowing what it means.

We're planning on this when our mortgage is completely offset (Australian thing, basically means paid off). I know that no one around me will know what it means, but I have to do SOMETHING to celebrate.

calimom

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #25 on: November 01, 2018, 07:04:56 PM »
Congratulations! I'm 7.5 years away from my own completely paid-off mortgage and look forward to the day.

Doing anything to celebrate? It does seem a bottle of mid-range bubbly something or other might be in order. Oh, and is it OK to ask what you're doing with the newly freed up monthly $$. VTSAX?

EscapeVelocity2020

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #26 on: November 01, 2018, 07:36:38 PM »
Well, I'm happy for you if you are happy (or if it was like a 4% note), but the Finance Buff said it well when he paid off his low rate mortgage - most people don't get excited or boast to others when they buy a US Treasury bond...  c'est la vie.

Kris

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #27 on: November 01, 2018, 07:58:12 PM »
Congratulations Kris! We did the same in May! I posted it on the 'wrong' forum and got a put down for it! No matter. It!s a nice feeling and l retire tomorrow, Friday! IT

Holy cow! HUGE congrats to you!

Money Badger

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #28 on: November 01, 2018, 08:30:44 PM »
Bad ass.   Plain and simple... and awesome!

okits

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #29 on: November 02, 2018, 12:33:03 AM »
Congratulations, Kris!  Enjoy the feeling, you worked for it!

OzzieandHarriet

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #30 on: November 02, 2018, 06:39:45 AM »
We paid ours off in January for much the same reason. It was kind of an anticlimax! We havenít felt the benefit of the reduced expenses because ... well ... we spent the excess 😕 (slaps self on wrist). In our defense, we have no other debts and good savings, and the things we spent it on were worthwhile. Also, our payment was pretty low. Now that DH is retired, that money will mostly go to health insurance.

GuitarStv

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #31 on: November 02, 2018, 07:37:32 AM »
Biggest mistake of your life.  Obviously you're an idiot unable to do math.  Also, welcome to the club!  :P

tarheeldan

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #32 on: November 02, 2018, 07:46:37 AM »
I just paid off our mortgage.

Congratulations!!!

brute

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #33 on: November 02, 2018, 07:49:31 AM »
Wooooooooooo! Congrats!

Kris

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #34 on: November 02, 2018, 07:56:52 AM »
Biggest mistake of your life.  Obviously you're an idiot unable to do math.  Also, welcome to the club!  :P

:D  Funnily, as I wrote the OP, I was filled with happiness and pride, mixed with some shame because I was already anticipating the tsks of people who would be muttering "idiot" under their breath when they read the post.

Ah well. They can't take away my joy!

Nick_Miller

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #35 on: November 02, 2018, 08:22:54 AM »
Now if you had only purchased a shiny new car, you could have posted on social media much to the delight of many, complete with all the little ":0" faces from your admirers!! But sadly you are relegated to posting your awesome news in this weird little forum. Makes a lot of sense, huh?

Congrats!! You and your husband should be very proud of yourselves.


FrugalToque

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #36 on: November 02, 2018, 08:32:10 AM »
Now if you had only purchased a shiny new car, you could have posted on social media much to the delight of many, complete with all the little ":0" faces from your admirers!! But sadly you are relegated to posting your awesome news in this weird little forum. Makes a lot of sense, huh?

Congrats!! You and your husband should be very proud of yourselves.

Yeah, there's a distinct divide between bragging about purchases and bragging about being good at saving.  One is socially acceptable and the other invites scorn.

It's not like society doesn't value willpower in general.  After all, if you wanted to tell people about weight loss, you'd be celebrated.

Somehow, telling people that you have successfully exhibited financial willpower invites a strange notion of discomfort.  This is followed by tales of woe and Excusitis, about how lucky you are that you can save so much.  It just makes us feel so unbecoming.

Also, our relatives then want to borrow money from us.

Toque.

accolay

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #37 on: November 03, 2018, 12:24:17 PM »
Congrats and fuck Wells Fargo!

Kris

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #38 on: November 03, 2018, 12:34:02 PM »
Congrats and fuck Wells Fargo!

No kidding! Canít wait to cut all ties with those fuckers.

2Birds1Stone

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #39 on: November 03, 2018, 12:37:54 PM »
Congrats!

MissNancyPryor

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #40 on: November 03, 2018, 12:43:13 PM »
Excellent, truly excellent!   Congrats Kris!

Boofinator

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #41 on: November 03, 2018, 01:22:54 PM »
congratulations!

Good thing you-know-who isn't here anymore.

:D Yeah, he wouldn't approve. And I totally get why -- his reasoning is solid. But in our case it makes the most sense for us. Our near future also includes spending significant amounts of time abroad. And having this home base paid for -- and capable of being rented out in our absence -- was a big motivator.

Then when we're done sowing our wild oats, we'll have a paid-for home to come back to, in a place where the market likely would have priced us out if we'd sold and tried to buy in again later.

Congrats on paying off the mortgage!

On the topic of B42: His reasoning was not always solid, and it was extremely dogmatic; goes to show if you bash somebody over the head enough times, they will begin to believe anything. You made the optimal choice (not in expected return, but in expected success rate) by paying off the mortgage close to retirement, unless you had an extremely low interest rate and many years of payments remaining. Here's the plots:


iris lily

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #42 on: November 12, 2018, 11:13:50 AM »
I am a double dose idiot because I have not had a mortgage on multiple properties we own save for 4 years when I bought my first house as a single person decades ago.

I also understand the math. And I dont care. Interest is The Enemy, I hate it. HATE it. Not all financial decisions need to be devoid of emtion.

So, congrats on retiring your mortgsge.


onlykelsey

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #43 on: November 12, 2018, 11:18:43 AM »
I also understand the math. And I dont care. Interest is The Enemy, I hate it. HATE it. Not all financial decisions need to be devoid of emtion.
Brains are weird.  I would never have opened a HELOC in order to invest in the market, but when I had one (because I only had 15% down and needed to put 20% down), I didn't prioritize paying it off over investing.  So, essentially, I took out a HELOC in order to invest in the stock market.

Congrats, Kris!

Mississippi Mudstache

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #44 on: November 12, 2018, 12:26:06 PM »
Big congrats! Now hurry up and FIRE so you can enjoy your trip 'round the world :D

MasterStache

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Re: Because I'd feel weird and boastful announcing this to IRL friends...
« Reply #45 on: November 12, 2018, 12:44:12 PM »
Congrats Kris. I am sure a big weight lifted off your shoulders.