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Old 12-08-2009, 03:49 AM   #1
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No debt! Paid off the house the other day (about 7 years ahead of the mortgage schedule). We intend to downsize (to simplify our situation) once the real estate market recovers.

The long slow (disciplined) slog to FI seems to be working. The portfolio was diminished by the crisis but seemed to survive and hold up (diversification).

We are still on target for my ER date. I should be able to ER in 1.5 to 2 years (planned timeframe). DW hung it up a couple of years ago.
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Old 12-08-2009, 04:01 AM   #2
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Congratulations

It must be a nice feeling to own your home outright
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Old 12-08-2009, 05:45 AM   #3
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Awesome! Congrats on a great achievement!
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Old 12-08-2009, 06:04 AM   #4
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What a great feeling that must be. Congratulations on all of your FI accomplishments!
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Old 12-08-2009, 07:58 AM   #5
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Congratulations.
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Old 12-08-2009, 08:08 AM   #6
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Yippee!! Congratulations. Nothing feels better than setting a personal financial goal and ACCOMPLISHING IT.
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Old 12-08-2009, 08:47 AM   #7
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Congratulations!!! Becoming debt free is an awesome feeling...like a big weight being taken of your shoulders, and it brings with it a new sense of freedom!
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Old 12-08-2009, 09:02 AM   #8
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Congratulations, that is a huge milestone on your way to FI!!

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Old 12-08-2009, 09:43 AM   #9
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Way to go! We'll be there in exactly 2 years. In the meantime it's nice to know we could write a payoff check today if we wanted to.
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Old 12-08-2009, 11:05 AM   #10
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Congrats! Not only is a good feeling but you'll be amazed at the little "boost" you get in socking away more towards your FI goal. It's almost a logarithmic accelerator!

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Old 12-08-2009, 11:30 AM   #11
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Congratulations chinaco! Let's do the happy dance...

Let me tell ya...I've been debt free for almost four years and I STILL do a little shimmy from time to time....

Your ER target date is getting closer and closer....
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Old 12-08-2009, 11:40 AM   #12
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Now when you fill out a form that asks if you own or rent your home, you can make an extra big, extra bold check mark in the "own" box. Congratulations!
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Old 12-08-2009, 01:00 PM   #13
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Originally Posted by chinaco View Post
No debt! Paid off the house the other day (about 7 years ahead of the mortgage schedule).
It's a great feeling isn't it?
Congratulations!
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Old 12-08-2009, 01:01 PM   #14
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Congrats! I paid off my first house 20 years early, and it was an amazing feeling! Of course, I'm 29 years and 5 months away from paying this one off, but who's counting?
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Old 12-08-2009, 01:17 PM   #15
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Congrats Chicano! It must be an awesome feeling to have a house which is all yours!

I am the ugly ducking in my family, the only one who prefers to gamble in the stock market rather than pay off the mortgage... Perhaps one day I will listen to the little voice in the back of my head and pay off the damned thing.
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Old 12-08-2009, 02:21 PM   #16
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Congratulations !
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Old 12-08-2009, 02:31 PM   #17
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Good work, Buddy.

What do you plan to do with the money that you used to spend on the monthly mortgage bill?
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Old 12-08-2009, 02:42 PM   #18
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What do you plan to do with the money that you used to spend on the monthly mortgage bill?
When we paid off ours in 2000 we started dumping the money into a deferred compensation account (like a 401k). That was the only tax deduction we had, not wanting to take on another house, RV, boat with a head and galley, or any of that stuff.
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Old 12-13-2009, 08:49 AM   #19
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Now that the house is paid off, you'll look at your neighbors with house payments and two car payments and wonder how they survive. Congratulations! I believe once you have a house paid off, you will never again opt for a mortgage.
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Old 12-13-2009, 09:35 AM   #20
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Good work, Buddy.

What do you plan to do with the money that you used to spend on the monthly mortgage bill?
I saved most of mine. It was absolutely amazing to see how quickly it accumulated becaue I was completely debt free after paying off my mortgage.
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