Author Topic: I’m Debt Free (Read 27159 times)

goalphish2002 · « **on:** July 18, 2019, 11:42:35 PM »

Let’s celebrate, not hate! I realize that paying off a mortgage early is a divisive topic, but I felt it was necessary for my wife and me. We paid off our vehicles, student loans, any remaining medical bills, and have no credit card debt.

I’m writing this because I can only tell a few far away friends in real life. Our families would assume we are rich and would do the obvious. I’m not funding someone else’s lavish lifestyle when I’ve sacrificed so much and lived without new or expensive items.

I’d also like to see what suggestions the group can give on what to do next. Obviously, I have gone out of order in a way.

efree · « **Reply #1 on:** July 18, 2019, 11:59:11 PM »

I thought this thread would be about someone getting rid of credit card debt after discovering MMM. So you prepaid your mortgage instead of investing that money in index funds? I don't think that should be celebrated, sorry.

happy · « **Reply #2 on:** July 19, 2019, 12:13:43 AM »

Congratulations @goalphish2002! That must be a wonderful feeling, I'm so pleased for you. Now get to investing in your vehicle of choice...
Hopefully the numerists won't pour too much cold water on what is an exciting achievement.

goalphish2002 · « **Reply #3 on:** July 19, 2019, 12:19:12 AM »

Quote from: efree on July 18, 2019, 11:59:11 PM

I thought this thread would be about someone getting rid of credit card debt after discovering MMM. So you prepaid your mortgage instead of investing that money in index funds? I don't think that should be celebrated, sorry.

I didn’t say I didn’t have index funds. I said I paid off debts. On a side note, since I have to say this *sigh*... I have index funds, company stock (given to me), 401K, my wife has a teacher’s pension, etc...

Habilis · « **Reply #4 on:** July 19, 2019, 03:10:52 AM »

Congratulations! That's a huge achievement and a solid foundation from which to live a great life. Cheers and let us know how it goes!

Adam Zapple · « **Reply #5 on:** July 19, 2019, 03:33:19 AM »

Congrats! I'm considering doing the same thing, mostly because I can probably do it in under 3 years. Many try to discount the mental and emotional benefits of paying off all debt, but we work and save to improve our lives. If someone can create a sense of freedom and happiness now by paying off all debt then that should be celebrated. Screw the statistics. I would just put all free cash into investments and save like crazy.

Buffaloski Boris · « **Reply #6 on:** July 19, 2019, 04:03:36 AM »

Congratulations!!!! That's a great milestone and thanks for sharing it with us.There are many paths to FI and choosing the completely debt free one is a great one in my book.

NorthernMonkey · « **Reply #7 on:** July 19, 2019, 04:37:55 AM »

I did this 18 months ago. It's a great feeling. I had owed someone, somewhere, some money for as long as I can remember (when I got my first credit card as a student aged 18). To know that everything I had was mine was an amazing feeling.

Dogastrophe · « **Reply #8 on:** July 19, 2019, 05:57:48 AM »

Congrats! I bet it is a great feeling to know that you don't owe anyone anything.

Abe Froman · « **Reply #9 on:** July 19, 2019, 06:08:00 AM »

Congratulations. DW and I did the same thing a few years ago. Sure - we could have held that extra $XX,XXX in index funds and ridden the continuing Trump Bump - but at the time we did not know what the future held. And also - we knew we were getting a guaranteed 4.X% return by paying it off early. BUT the biggest part for us was the sense that we no longer had any burden over us. I hate owing money - its awful and quietly gnaws at me. That is better than any return on that last $XX,XXX. The day we called our bank - and paid if off the mortgage specialist I could tell was impressed and perhaps a little bit jealous.

EngagedToFIRE · « **Reply #10 on:** July 19, 2019, 06:12:55 AM »

Awesome. We did the same. No cars, no credit, no mortgages, no nothing. Our only debt is the tax man I guess. Now we use our much higher cash flow and invest like crazy. But not having any debt is such a big burden off your shoulders. There is a freeing feeling of being able to live comfortably no matter what. I could work at McDonalds and still pay our bills. To me, no debt is practically FI.

ReadySetMillionaire · « **Reply #11 on:** July 19, 2019, 06:15:08 AM »

Quote from: efree on July 18, 2019, 11:59:11 PM

I thought this thread would be about someone getting rid of credit card debt after discovering MMM. So you prepaid your mortgage instead of investing that money in index funds? I don't think that should be celebrated, sorry.

Wrong time and place. You can take this attitude to any of the other 1,000 threads about mortgage pre-payment vs. investing. Plus you don't even know what his/her interest rate was. Get out of here.

Congrats OP. This is awesome. I am also going to pre-pay my mortgage and not worry about the hypothetical math. The peace of mind will be amazing.

Cheers and congrats.

A Fella from Stella · « **Reply #12 on:** July 19, 2019, 07:29:36 AM »

This is so awesome. I have recently concluded that I really can't use credit. The card just gets run up, and then I have this debt that I do a good job of knocking out, but it's bad for me.

I want to be a travel hacker, ad all that other jazz, but my life will be better when all I have are incomes, and only payments for utilities and food.

ericrugiero · « **Reply #13 on:** July 19, 2019, 08:02:32 AM »

Congratulations. I think it's a great achievement with a guaranteed ROI and lower cost of living from here on. There is just something about not owing anyone anything.

We are going to pay ours off on 8/1 and I'm excited about that.

BuddyXL · « **Reply #14 on:** July 19, 2019, 08:21:19 AM »

Congrats! I too think thats awesome regardless of other speculations.

I too am debt free (no mortgage, no car payments, nothing) so I applaud your achievement.

PurpleYogurt · « **Reply #15 on:** July 19, 2019, 08:33:15 AM »

Congratulations! That's a big accomplishment. I'm completely debt free as well and it feels great.

In 2010 all credit cards and small loans were paid off. Then in 2014 we paid off the house, we only had 60k left so it wasn't that tough. The first week of owning the house free and clear felt amazing, it still does but we're used to it now. We've been able to put large amounts of money into various investments, fully funded our children's wedding funds, saving for a new (to us) car, vacation funds and more. It's freedom and it's fabulous.

Enjoy being the owner of your entire house!

PurpleYogurt · « **Reply #16 on:** July 19, 2019, 08:37:48 AM »

Quote from: efree on July 18, 2019, 11:59:11 PM

I thought this thread would be about someone getting rid of credit card debt after discovering MMM. So you prepaid your mortgage instead of investing that money in index funds? I don't think that should be celebrated, sorry.

Well this is a downer. Too bad you couldn't have simply not responded.

Greenback Reproduction Specialist · « **Reply #17 on:** July 19, 2019, 08:59:39 AM »

to the original poster, Congrats! thats awesome!

Quote from: EngagedToFIRE on July 19, 2019, 06:12:55 AM

Awesome. We did the same. No cars, no credit, no mortgages, no nothing. Our only debt is the tax man I guess. Now we use our much higher cash flow and invest like crazy. But not having any debt is such a big burden off your shoulders. There is a freeing feeling of being able to live comfortably no matter what. I could work at McDonalds and still pay our bills. To me, no debt is practically FI.

This x1000, we only have a 1.5 more mortgage payments, then we will be in the exact same boat.

Congrats again Goalphish!! Its not an easy thing to do and takes a lot of dedication.

FireHiker · « **Reply #18 on:** July 19, 2019, 09:29:10 AM »

Congratulations!!

efree · « **Reply #19 on:** July 19, 2019, 09:45:06 AM »

Quote from: goalphish2002 on July 19, 2019, 12:19:12 AM

Quote from: efree on July 18, 2019, 11:59:11 PM
I thought this thread would be about someone getting rid of credit card debt after discovering MMM. So you prepaid your mortgage instead of investing that money in index funds? I don't think that should be celebrated, sorry.

I didn’t say I didn’t have index funds. I said I paid off debts. On a side note, since I have to say this *sigh*... I have index funds, company stock (given to me), 401K, my wife has a teacher’s pension, etc...

Did I say you didn't have index funds? I just said you didn't invest the money you used to prepay the mortgage.

Quote from: ReadySetMillionaire on July 19, 2019, 06:15:08 AM

Wrong time and place. You can take this attitude to any of the other 1,000 threads about mortgage pre-payment vs. investing. Plus you don't even know what his/her interest rate was. Get out of here.

Wow, what's with the attack? I think I'm allowed to post my opinion just as anyone else is allowed to post it. And I don't think the interest rate was high enough (5-6%) for the prepayment to make sense, otherwise the OP would have mentioned it. If I'm wrong about my assumption, sure I will apologize.

Quote from: wtp1020 on July 19, 2019, 08:37:48 AM

Well this is a downer. Too bad you couldn't have simply not responded.

As I said above, I have as much of a right to post here as anyone else, and I don't want casual lurkers to read this thread and think that mortgage prepayment is universally recognized as a great thing. Most people would be better off having 150k in investments and a 100k mortgage than 50k in investments and no mortgage.

achvfi · « **Reply #20 on:** July 19, 2019, 09:45:12 AM »

Quote from: goalphish2002 on July 18, 2019, 11:42:35 PM

Let’s celebrate

I’d also like to see what suggestions the group can give on what to do next. Obviously, I have gone out of order in a way.

Congrats OP! Hope that frees up your cash flow for whats next. Next I would say is to max out all tax advantage accounts available to you while also having enough in emergency fund.

I like the idea of paid off house as well, but I am holding off. My strategy is to accumulate enough in in after tax investments. I don't see much difference in either approach.

Cheers to onwards and upwards...

Maenad · « **Reply #21 on:** July 19, 2019, 10:07:22 AM »

Congratulations! We definitely noticed a "hockey stick" in our net worth once we had all that extra cash to invest.

TVRodriguez · « **Reply #22 on:** July 19, 2019, 10:09:53 AM »

Congratulations, OP! Paying off debt is so satisfying and provides a guaranteed return over the short run. DH and I paid off our house a few years ago, after we paid off the last student loan, and it feels great not to owe anyone anything. We love having a lower overhead.

The reduction in stress for us, as small business owners, was also noticeable. Now, if either of us has a lower-income month, it's not a big deal because we don't have any large monthly bills. Like you, we also had other investments along the way that we fed regularly, maxing out retirement accounts when possible first, so we didn't lose out completely on the market growth over the time that we paid off the mortgage and student loans.

Also, in our state, paying off the mortgage on one's primary home is a solid asset protection strategy. Here, there is a significantly greater creditor protection allowed to homestead property that is not allowed on some other investments like taxable brokerage accounts. So, more peace of mind there.

CheapScholar · « **Reply #23 on:** July 19, 2019, 10:26:04 AM »

Congrats! I’ve been thinking lately about doing the same, so don’t let the mortgage payoff haters here get to you. We have 88k left on our mortgage. The truth is, for us, we want to work another 12 years at least and retire around 50 at the earliest. We have enough in our retirement accounts now that they will grow to have us FI by then easily. So, I’m really thinking about paying the mortgage down the next two years and god forbid not investing every extra cent I have into index funds.

esmith2039 · « **Reply #24 on:** July 19, 2019, 10:45:02 AM »

Congrats! We're working towards that also. Plan for a Dec 2020 date but most likely will be sooner. The main reason is the interest was the same amount as the insurance and taxes.. plus the piece of mind.

Parizade · « **Reply #25 on:** July 19, 2019, 10:49:27 AM »

Congratulations! I am a firm believer in celebrating every step along the way, so I hope you enjoy your achievement!

People will say that paying off your mortgage instead of investing is more of an "emotional" decision than a "rational" one, but I don't think that's necessarily a healthy attitude. Emotional wellbeing is often seriously undervalued in Western culture, to our detriment. I think you are wise to maintain a balance between your mind and your heart.

BobTheBuilder · « **Reply #26 on:** July 19, 2019, 11:02:11 AM »

Congratulations! Now you do own everything you have, not only in total sum, but also each and every tiny little thing.

What's next? Maybe a vacation?

rob in cal · « **Reply #27 on:** July 19, 2019, 11:03:59 AM »

Congratulations. Not having any debt, especially a big mortgage payment has been real helpful to us, as our income has been declining over the last few years, expense have been getting higher (college) and yet do to no debt we have so much more breathing room.

Bruin · « **Reply #28 on:** July 19, 2019, 11:31:29 AM »

We paid off all debt including mortgage and student loan way ahead of the schedule. Every single day since then, I have felt free.

Investing that money in index funds is also great and likely makes more sense number-wise. But for some of us, the feeling of debt FREE is priceless.

BuddyXL · « **Reply #29 on:** July 19, 2019, 11:37:01 AM »

You know one potential benefit of owning free and clear is you can cancel either all or part of your homeowners insurance.

I know, I know some of you want to attack and thats Ok but let me just explain. BTW, I'm not suggesting it, just sharing it.

In states like FL where I live, HO insurance is incredibly high due to the built up (somewhat falsely) threat of hurricanes. Many policies are essentially doubled because of it. Being able to increase your hurricane deductible could save you some money. Cancelling a policy altogether could put $5-7k in your pocket each year.

A few folks I know who live in homes around the $200-300k range have said "F**K it!" and are completely self insured.

Now I would never do that as the risk of fire is way more common (something like a 1 in 300 chance) and could be catastrophic. But just tossing it out there.

ReadySetMillionaire · « **Reply #30 on:** July 19, 2019, 12:10:16 PM »

Quote from: efree on July 19, 2019, 09:45:06 AM

Quote from: ReadySetMillionaire on July 19, 2019, 06:15:08 AM
Wrong time and place. You can take this attitude to any of the other 1,000 threads about mortgage pre-payment vs. investing. Plus you don't even know what his/her interest rate was. Get out of here.
Wow, what's with the attack? I think I'm allowed to post my opinion just as anyone else is allowed to post it. And I don't think the interest rate was high enough (5-6%) for the prepayment to make sense, otherwise the OP would have mentioned it. If I'm wrong about my assumption, sure I will apologize.

Just because you are allowed to post your opinion does not necessarily mean you should.

The original post was incredibly vague about OP's finances other than he is now completely debt free -- a huge milestone. The OP did not discuss his portfolio, the mortgage interest rate, his yearly savings rate, etc. You simply cannot know.

Yet, in a thread in which OP is celebrating a milestone, you took the opportunity to diminish his accomplishment. My opinion is that's incredibly poor taste. It's the message board equivalent of reminding a bride and groom they will die some day (maybe not that dramatic, but you get my point).

NorCal · « **Reply #31 on:** July 19, 2019, 12:16:09 PM »

Congratulations! That's a huge milestone. I just did the same by selling some investments.

It's amazing how freeing it is. Now we both just have to replace those investments at an increased rate.

efree · « **Reply #32 on:** July 19, 2019, 12:28:46 PM »

Quote from: ReadySetMillionaire on July 19, 2019, 12:10:16 PM

Quote from: efree on July 19, 2019, 09:45:06 AM
Quote from: ReadySetMillionaire on July 19, 2019, 06:15:08 AM
Wrong time and place. You can take this attitude to any of the other 1,000 threads about mortgage pre-payment vs. investing. Plus you don't even know what his/her interest rate was. Get out of here.
Wow, what's with the attack? I think I'm allowed to post my opinion just as anyone else is allowed to post it. And I don't think the interest rate was high enough (5-6%) for the prepayment to make sense, otherwise the OP would have mentioned it. If I'm wrong about my assumption, sure I will apologize.

Just because you are allowed to post your opinion does not necessarily mean you should.

The original post was incredibly vague about OP's finances other than he is now completely debt free -- a huge milestone. The OP did not discuss his portfolio, the mortgage interest rate, his yearly savings rate, etc. You simply cannot know.

Yet, in a thread in which OP is celebrating a milestone, you took the opportunity to diminish his accomplishment. My opinion is that's incredibly poor taste. It's the message board equivalent of reminding a bride and groom they will die some day (maybe not that dramatic, but you get my point).

I already explained why I did it - so that new people reading this thread wouldn't think that prepaying is the best option. In most cases it's not. It has nothing to do with stating depressing truths (we will all die someday) for no reason.

ReadySetMillionaire · « **Reply #33 on:** July 19, 2019, 12:36:04 PM »

Quote from: efree on July 19, 2019, 12:28:46 PM

I already explained why I did it - so that new people reading this thread wouldn't think that prepaying is the best option. In most cases it's not. It has nothing to do with stating depressing truths (we will all die someday) for no reason.

Yes, you did it just to save the innocent lurker from -- gasp -- paying off their mortgage. Get a grip.

jps · « **Reply #34 on:** July 19, 2019, 12:53:42 PM »

Quote from: efree on July 19, 2019, 12:28:46 PM

Quote from: ReadySetMillionaire on July 19, 2019, 12:10:16 PM
Quote from: efree on July 19, 2019, 09:45:06 AM
Quote from: ReadySetMillionaire on July 19, 2019, 06:15:08 AM
Wrong time and place. You can take this attitude to any of the other 1,000 threads about mortgage pre-payment vs. investing. Plus you don't even know what his/her interest rate was. Get out of here.
Wow, what's with the attack? I think I'm allowed to post my opinion just as anyone else is allowed to post it. And I don't think the interest rate was high enough (5-6%) for the prepayment to make sense, otherwise the OP would have mentioned it. If I'm wrong about my assumption, sure I will apologize.

Just because you are allowed to post your opinion does not necessarily mean you should.

The original post was incredibly vague about OP's finances other than he is now completely debt free -- a huge milestone. The OP did not discuss his portfolio, the mortgage interest rate, his yearly savings rate, etc. You simply cannot know.

Yet, in a thread in which OP is celebrating a milestone, you took the opportunity to diminish his accomplishment. My opinion is that's incredibly poor taste. It's the message board equivalent of reminding a bride and groom they will die some day (maybe not that dramatic, but you get my point).
I already explained why I did it - so that new people reading this thread wouldn't think that prepaying is the best option. In most cases it's not. It has nothing to do with stating depressing truths (we will all die someday) for no reason.

Did you know that Mr. Money Mustache himself has a paid off mortgage? You'd better call and tell him how non-optimal his decisions are.

On a serious note, congratulations, OP! That's a big goal regardless and you should be proud of yourself for achieving it!

BTDretire · « **Reply #35 on:** July 19, 2019, 12:57:02 PM »

Congratulations, you rich guy! :-)
From someone that has had a paid off house for 23 years, but still agrees it's not the
best financial advice. I did it anyway.

efree · « **Reply #36 on:** July 19, 2019, 01:03:05 PM »

Quote from: ReadySetMillionaire on July 19, 2019, 12:36:04 PM

Quote from: efree on July 19, 2019, 12:28:46 PM
I already explained why I did it - so that new people reading this thread wouldn't think that prepaying is the best option. In most cases it's not. It has nothing to do with stating depressing truths (we will all die someday) for no reason.

Yes, you did it just to save the innocent lurker from -- gasp -- paying off their mortgage. Get a grip.

Why do you feel entitled to tell me what to do? This is the second time you've done it and I don't appreciate it.

And also, I don't think mocking people is the right way to get your message across. It just makes me think that you have run out of arguments.

kenmoremmm · « **Reply #37 on:** July 19, 2019, 01:09:34 PM »

Quote from: efree on July 19, 2019, 01:03:05 PM

Quote from: ReadySetMillionaire on July 19, 2019, 12:36:04 PM
Quote from: efree on July 19, 2019, 12:28:46 PM
I already explained why I did it - so that new people reading this thread wouldn't think that prepaying is the best option. In most cases it's not. It has nothing to do with stating depressing truths (we will all die someday) for no reason.

Yes, you did it just to save the innocent lurker from -- gasp -- paying off their mortgage. Get a grip.
Why do you feel entitled to tell me what to do? This is the second time you've done it and I don't appreciate it.

And also, I don't think mocking people is the right way to get your message across. It just makes me think that you have run out of arguments.

99% of people on the thread: HEY, EFREE, STOP WITH YOUR D-BAGGERY
1% of people on the thread: NAH, I'M NOT WRONG

time for a talk with the mirror

ReadySetMillionaire · « **Reply #38 on:** July 19, 2019, 01:10:05 PM »

Quote from: efree on July 19, 2019, 01:03:05 PM

Quote from: ReadySetMillionaire on July 19, 2019, 12:36:04 PM
Quote from: efree on July 19, 2019, 12:28:46 PM
I already explained why I did it - so that new people reading this thread wouldn't think that prepaying is the best option. In most cases it's not. It has nothing to do with stating depressing truths (we will all die someday) for no reason.

Yes, you did it just to save the innocent lurker from -- gasp -- paying off their mortgage. Get a grip.
Why do you feel entitled to tell me what to do? This is the second time you've done it and I don't appreciate it.

And also, I don't think mocking people is the right way to get your message across. It just makes me think that you have run out of arguments.

"I think I'm allowed to post my opinion just as anyone else is allowed to post it."

jpompo · « **Reply #39 on:** July 19, 2019, 01:12:38 PM »

Quote from: efree on July 19, 2019, 12:28:46 PM

I already explained why I did it - so that new people reading this thread wouldn't think that prepaying is the best option. In most cases it's not.

The OP said in their second sentence, "I realize that paying off a mortgage early is a divisive topic..."

Thank you for your service.

solon · « **Reply #40 on:** July 19, 2019, 01:18:43 PM »

@goalphish2002 I'm so sorry about what has happened to your celebration thread. What you have achieved is amazing and worthy of being celebrated. Unfortunately that is not going to happen in this thread. It seems to happen a lot on this forum: someone starts an interesting thread, but it goes to shit quickly and there's no way to get it back on track. I wish there was a way to block posters with the emotional IQ of a kindergartner, but there isn't.

Just know that most of us are happy for you.

ReadySetMillionaire · « **Reply #41 on:** July 19, 2019, 01:43:52 PM »

Quote from: solon on July 19, 2019, 01:18:43 PM

@goalphish2002 I'm so sorry about what has happened to your celebration thread. What you have achieved is amazing and worthy of being celebrated. Unfortunately that is not going to happen in this thread. It seems to happen a lot on this forum: someone starts an interesting thread, but it goes to shit quickly and there's no way to get it back on track. I wish there was a way to block posters with the emotional IQ of a kindergartner, but there isn't.

Just know that most of us are happy for you.

Indeed, sorry for being immature and derailing. OP, you've achieved something awesome and worthy of a celebration thread. Great job. I'll PM you in nine years (hopefully!) when I achieve the same.

Sorry again.

Great job and cheers!

Peach · « **Reply #42 on:** July 19, 2019, 04:18:40 PM »

Congratulations! There is no one-size-fits-all about money management, and you did what was right for YOU. That's what's most important. We all have to live with our decisions, and I know I want to feel great about what we choose to do with our money. You sound very happy, and that is as it should be.

You asked what should be next with everything paid off. Your choices are unlimited -- increasing your easily accessible emergency fund, opening more investment accounts if you are maxing out yours, rental property, spending some for a treat -- whatever you choose.

Congrats again!

Acorns · « **Reply #43 on:** July 19, 2019, 04:57:54 PM »

Congratulations! Being debt free is a huge achievement. You can pretty much do what you want with your life and you will always have a place to live. Enjoy the freedom this brings!

I-Ranger · « **Reply #44 on:** July 19, 2019, 05:13:59 PM »

Quote from: solon on July 19, 2019, 01:18:43 PM

@goalphish2002 I'm so sorry about what has happened to your celebration thread. What you have achieved is amazing and worthy of being celebrated. Unfortunately that is not going to happen in this thread. It seems to happen a lot on this forum: someone starts an interesting thread, but it goes to shit quickly and there's no way to get it back on track. I wish there was a way to block posters with the emotional IQ of a kindergartner, but there isn't.

Just know that most of us are happy for you.

I guess I'll be another poster with the emotional IQ of a kindergartner, because I think it's great efree is carrying the torch of Boarder (RIP), and doing a service to forum newcomers. I joined about a year ago, and thanks to Boarder and others dishing out facepunches on mortgage payoff celebration threads, I learned that not only does paying off your mortgage early often delay FIRE, it can also be much riskier than having that money in investment accounts should an emergency arise.

It's just strange to see other mortgage payoff proponents circle the wagons so viciously and try to soothe the OP's feelings, which given in the original post the OP admitted it was a divisive topic and that they hadn't followed the order of investing, I doubt the OP was shocked and crushed by efree's response. The defenders lashed out like it was an attack on their choices rather than the OP's.

That said, I'll celebrate the OP's being debt-free and happy, and I'll celebrate efree's honest response.

Money Badger · « **Reply #45 on:** July 19, 2019, 08:09:32 PM »

Way to go goalfish2002! As a looong time anti-debt advocate to accelerate wealth accumulation for the middle class who dont have lawyers amd accountants and such advisors... The air smells sweeter and the grass is greener when you are finally free of indenture! Enjoy life on the 3rd rock free at past! And let debt loving trolls feed on their envy and interest payments the next 15 to 30 years.

Way to go. Whoop, whoop!!! ;-)

soccerluvof4 · « **Reply #46 on:** July 20, 2019, 03:33:00 AM »

Congratulations on your accomplishment! For having no debt and having Index funds! lol. The right answer is whatever lets you sleep at night! ignore the noise and continue on your journey.....

CindyBS · « **Reply #47 on:** July 20, 2019, 12:19:20 PM »

Congratulations!!

Taran Wanderer · « **Reply #48 on:** July 20, 2019, 02:21:24 PM »

Congratulations! Congratulations! Congratulations!

(I've done the math and understand the investing vs. pay-off argument. I've decided it is fundamentally an emotional decision, and if paying off your mortgage is right for you, then you should do it. Congratulations on this accomplishment, and I'll take your story as inspiration to do the same. Cheers!)

Firehazard · « **Reply #49 on:** July 20, 2019, 06:41:01 PM »

Congrats on paying off your mortgage!

We did the same last year. A few years ago we realized we had enough investments to FIRE immediately if only we didn't have a mortgage payment, but we were only 2 years into a 15 year mortgage at the time. Accelerating our payments actually brought our FIRE date in closer by a couple of years, so no regrets here.

News:

Author Topic: I’m Debt Free (Read 27159 times)