Umm.. I paid off the mortgage today
I don't have anyone else I could share this with and expect understanding from. I know there are many people here who think it is a silly thing to do. But silly me did it.
I P-A-I-D O-F-F M-Y O-N-E A-N-D O-N-L-Y L-O-A-N T-O-D-A-Y.
Whew. There, I said it.
I could not think of any other way to celebrate my (upcoming) 40th birthday. So INTJ me decided this would be it. Now I have almost no investments whatsoever but the home. But yeah, it feels nice to be debt-free again.
I fretted over taking on a mortgage for many years. I finally bit the bullet and then discovered this website right after. I have always been a saver, but thanks to Jacob I have been doubly-focused on saving the max so I could pay down this debt. To me it felt like the first (easy) step I needed to take in my quest for FI. The next is going to be the harder part - figuring out an investment strategy and executing it while I continue to save.
I was broke at 30. I have a home at 40. I want to be FI by 50. Wish me luck!
I P-A-I-D O-F-F M-Y O-N-E A-N-D O-N-L-Y L-O-A-N T-O-D-A-Y.
Whew. There, I said it.
I could not think of any other way to celebrate my (upcoming) 40th birthday. So INTJ me decided this would be it. Now I have almost no investments whatsoever but the home. But yeah, it feels nice to be debt-free again.
I fretted over taking on a mortgage for many years. I finally bit the bullet and then discovered this website right after. I have always been a saver, but thanks to Jacob I have been doubly-focused on saving the max so I could pay down this debt. To me it felt like the first (easy) step I needed to take in my quest for FI. The next is going to be the harder part - figuring out an investment strategy and executing it while I continue to save.
I was broke at 30. I have a home at 40. I want to be FI by 50. Wish me luck!
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KTN, Absolutely Outstanding!!!!!!
The ones who usually think it unwise have never done it. It's all mathematical equation and calculation to them. However, there are very few things that open the door to FI like a paid off house. I paid my last house off in 19 months. Taxes and Insurance equate to ~2.5% of my income. It will always be manageable.
Enjoy the success and liberating feeling. Your investments going forward will be sweeter also. Trust me, you'll be more relaxed about your investments now as you move forward.
The ones who usually think it unwise have never done it. It's all mathematical equation and calculation to them. However, there are very few things that open the door to FI like a paid off house. I paid my last house off in 19 months. Taxes and Insurance equate to ~2.5% of my income. It will always be manageable.
Enjoy the success and liberating feeling. Your investments going forward will be sweeter also. Trust me, you'll be more relaxed about your investments now as you move forward.
Thanks, Y'all. So good to hear there are others here who've done or are doing the same.
@livinlite: Good luck on getting rid of the car loan. If you are like me, it will feel good to be debt-free. I was there once and have been yearning for that state since.
@putski: It hasn't really sunk in yet. By the way, I'd like to see a journal update from you soon.
@Tim: I look forward to hearing the announcement. You are a good 5 years ahead of me FI target-wise. Keep it up.
@celliott: 19 months! Wow. I did mine in 23.
@livinlite: Good luck on getting rid of the car loan. If you are like me, it will feel good to be debt-free. I was there once and have been yearning for that state since.
@putski: It hasn't really sunk in yet. By the way, I'd like to see a journal update from you soon.
@Tim: I look forward to hearing the announcement. You are a good 5 years ahead of me FI target-wise. Keep it up.
@celliott: 19 months! Wow. I did mine in 23.
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Thank you, thank you.
A mortgage burning party? I had to look it up.
Then I ran into this:
http://www.npr.org/templates/story/stor ... =106242731
There is whole world out there that is sooo different. I had assumed most people would want to pay off their mortgages asap. I feel like a hermit who has lived in a cave too long.
I think I'll take aussierogue's advise and treat my two closest friends to brunch on my birthday day.
A mortgage burning party? I had to look it up.
Then I ran into this:
http://www.npr.org/templates/story/stor ... =106242731
There is whole world out there that is sooo different. I had assumed most people would want to pay off their mortgages asap. I feel like a hermit who has lived in a cave too long.
I think I'll take aussierogue's advise and treat my two closest friends to brunch on my birthday day.
The world became very different with refinancing (resetting the clock), "harvesting equity" by borrowing, and all the other come-ons from the mortgage lenders to send the serfs back to the plow. Actually owning a house never seems to occur to people anymore.
But it sure is worth celebrating the liberation!
But it sure is worth celebrating the liberation!
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