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One step closer to FIRE!
Old 09-13-2010, 09:32 AM   #1
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One step closer to FIRE!

We're debt free!!!

We finally paid off our mortage Saturday and man does it feel good.
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Old 09-13-2010, 09:35 AM   #2
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Quote:
Originally Posted by serie1926 View Post
We're debt free!!!
Have you called Dave Ramsey yet?
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Old 09-13-2010, 10:04 AM   #3
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My wife asked me the same thing.
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Old 09-13-2010, 10:10 AM   #4
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Congratulations!
Uh oh....here comes giddy...
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Old 09-13-2010, 10:19 AM   #5
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Congratulations! What a great feeling.
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Old 09-13-2010, 04:33 PM   #6
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Congrats, Serie1926! When I paid off mine in 1998, it was great being able to cover all my monthly expenses with one biweekly paycheck. That was a big step towards my FIRE although it would take 10 years to get there. But paying off my mortgage enabled me to switch to P/T work in 2001 and I could still easily cover my greatly reduced monthly expenses.

The options which opened up after paying off my mortgage and being debt-free were crucial to my FIRE.
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Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

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Old 09-13-2010, 05:38 PM   #7
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Congrats! We are still working on ours, but hopefully some day we'll share your joy.
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Old 09-13-2010, 05:39 PM   #8
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Congrat's, I know the feeling!
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Old 09-13-2010, 09:57 PM   #9
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Good Work, and Dave would be proud as you should be!


Keep on saving!
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Old 09-14-2010, 06:02 AM   #10
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Thanks guys!

We're going into overdrive on savings now. We both turn 48 next year and plan to be liquid $5M by 55. If all goes according to plan, pray that our 55th birthdays will be our last day at the office!
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Old 09-14-2010, 09:52 AM   #11
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Congratulations, it's a huge step.
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Old 09-14-2010, 06:47 PM   #12
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Congratulations! It sounds like you are doing great and have a good plan to get to ER.
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Old 09-15-2010, 07:17 AM   #13
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CONGRATS - it certainly is a great feeling
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Old 09-15-2010, 08:11 AM   #14
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Congrats! Debt free means more savings.
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