Author Topic: Paid off the mortgage and exploring second act career!  (Read 797 times)

freeatlast

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Paid off the mortgage and exploring second act career!
« on: October 05, 2017, 11:39:05 AM »
It finally sunk in. When I looked at my various bank accounts online - THERE WAS NO MORTGAGE!!!! That made it concrete for me.  Yes, I know the stock market is crazy right now and I have have investments there too. I also have two paid off rental houses and a college fund for my kiddo (good enough for public college anyway....) so please, no face punches!

It's a cool feeling.  I'm pretty sure hubby and I are FI at this point especially with the house paid off.  Hubby is worried though about healthcare and wants to pay off his rental property, so he is working.  I'm exploring a second act in career in interior design at my local community college and it's hard work, but fun! I left my stressful anxiety inducing Megacorp job in the rearview mirror about 6 months ago.

I am so glad to have this forum, because like others have noted, paying off your mortgage is not something you really can share with non-MMMs.

Bird In Hand

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Re: Paid off the mortgage and exploring second act career!
« Reply #1 on: October 05, 2017, 11:58:54 AM »
Congrats!  Sounds like you are on really solid footing for FIREing soon.

I am so glad to have this forum, because like others have noted, paying off your mortgage is not something you really can share with non-MMMs.

Now hold on just a minute...I think you better prepare yourself for a facepunch or two from some of the more adamant non-mortgage-payoff forum members.  :D
"Overcoming the inertia of status quo since tomorrow"

Car Jack

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Re: Paid off the mortgage and exploring second act career!
« Reply #2 on: October 05, 2017, 12:06:28 PM »
freeatlast:  Great job!

I paid off my mortgage about 15 years ago and when I go to pay my monthly mortgage of....wait....$0, it's great.  For me, it was all about what the alternatives were.  I was simply not ready to put any more money into the market beyond what my 401k invested.  So it wasn't a matter of being able to put it into higher paying investments....had I not paid off the mortgage, I'd have upped what I bought for US savings bonds and put some money into CDs.


EngineeringFI

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Re: Paid off the mortgage and exploring second act career!
« Reply #3 on: October 16, 2017, 09:44:16 PM »
Congrats!!!!

I paid off my mortgage about 14 months ago and still love the feeling. I do understand the arguments against it, but for me personally:

1. I really don't like debt.

2. I don't like contributing to the profits of large Megacorp Banks. Paying off my mortgage early was another way of voting with my dollars not to support their business. When a Megacorp bank bought my mortgage about 8 weeks after closing it gave me the motivation to pay it off in a little over 2 years...

But hey, personal finance is personal, and I totally get that others prefer to take advantage of the low interest rates now.

KBecks

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Re: Paid off the mortgage and exploring second act career!
« Reply #4 on: October 16, 2017, 09:46:51 PM »
Congrats!!

soccerluvof4

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Re: Paid off the mortgage and exploring second act career!
« Reply #5 on: October 19, 2017, 06:23:05 AM »
Congrats! I too am mortgage free and don't understand the arguments about to have or not have one. Makes sleeping nights alot easier and from the sounds of your position with other things your more than fine.
" In life you don't get what you deserve you get what you negotiate"

BlueHouse

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Re: Paid off the mortgage and exploring second act career!
« Reply #6 on: Today at 12:16:14 PM »
congratulations!  I love the phrase "Second Act Career".  That's what I'm aiming for, I just didn't have the right phrase for it.  A few more years at my soul-sucking job and I'm moving onto my second act career too. 
Sometimes nothing can be a real cool hand