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12-08-2009, 02:49 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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Hit a Milestone
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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12-08-2009, 03:01 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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Congratulations
It must be a nice feeling to own your home outright
__________________
Budgeting is a skill practised by people who are bad at politics.
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12-08-2009, 04:45 AM
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#3
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Moderator
Join Date: Sep 2006
Posts: 4,029
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Awesome! Congrats on a great achievement!
__________________
simple girl
less stuff, more time
(55, married; Mr. Simple Girl, 59. FIRED 12/31/19!)
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12-08-2009, 05:04 AM
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#4
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Dryer sheet wannabe
Join Date: Dec 2009
Location: Newton Falls, OH
Posts: 14
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What a great feeling that must be. Congratulations on all of your FI accomplishments!
__________________
"It is not how much money you make, it is how you spend it."
"I owe, I owe, it's off to work I go..." Dave Ramsey (Total Money Makeover Disc 1)
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12-08-2009, 06:58 AM
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#5
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,586
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12-08-2009, 07:08 AM
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#6
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,474
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Yippee!! Congratulations. Nothing feels better than setting a personal financial goal and ACCOMPLISHING IT.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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12-08-2009, 07:47 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,228
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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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12-08-2009, 08:02 AM
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#8
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Full time employment: Posting here.
Join Date: May 2007
Posts: 605
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12-08-2009, 08:43 AM
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#9
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Recycles dryer sheets
Join Date: Aug 2006
Posts: 478
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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.
__________________
I still don't get it...
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12-08-2009, 10:05 AM
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#10
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Recycles dryer sheets
Join Date: Oct 2007
Location: Sugar Land
Posts: 265
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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!
t.r.
__________________
Life is a Holiday!
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12-08-2009, 10:30 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,294
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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....
__________________
There's no need to complicate, our time is short..
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12-08-2009, 10:40 AM
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#12
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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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!
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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12-08-2009, 12:00 PM
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#13
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Recycles dryer sheets
Join Date: Feb 2008
Posts: 106
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Quote:
Originally Posted by chinaco
No debt! Paid off the house the other day (about 7 years ahead of the mortgage schedule).
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It's a great feeling isn't it?
Congratulations!
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12-08-2009, 12:01 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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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?
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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12-08-2009, 12:17 PM
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#15
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Moderator Emeritus
Join Date: May 2007
Posts: 12,894
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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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12-08-2009, 01:21 PM
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#16
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Congratulations !
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12-08-2009, 01:31 PM
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#17
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Moderator Emeritus
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
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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?
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.
As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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12-08-2009, 01:42 PM
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#18
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,302
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Quote:
Originally Posted by Rich_in_Tampa
What do you plan to do with the money that you used to spend on the monthly mortgage bill?
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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.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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12-13-2009, 07:49 AM
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#19
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Recycles dryer sheets
Join Date: Dec 2007
Posts: 482
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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.
__________________
Retire date Jan. 10, 2018
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12-13-2009, 08:35 AM
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#20
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,474
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Quote:
Originally Posted by Rich_in_Tampa
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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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.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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