Only 2 more payments!

[Puller]

Congratulations jeffrefrig!

We doubled up and paid off our 25 year note in 15 years, then kept making payments to an investment account. That was 10 years ago.

I also agree with learning a trade, mine has really paid off.

 

[quikdraw67]

Congrats!

Yes, trade school is a good choice.

Lots of openings in the trades of all fields.

 

[gregintenn]

Way to go!

I paid mine off when I was 40. I'm now 48 and retired. Several folks told me how dumb it was to not have a mortgage. Far as I know, they're all going to work in the morning. I'm going deer hunting.

 

[Golddollar]

Congrats!

Yes, trade school is a good choice.

Lots of openings in the trades of all fields.

I enjoy watching the shows on HGTV, and seeing how the Canadian contractor Mike Holmes turns houses that are complete disasters in palaces. It was good to see him at a college graduation getting an honorary degree and being able to express how there is a need for a new generation of trades people to come up.

 

[Golddollar]

Way to go!

I paid mine off when I was 40. I'm now 48 and retired. Several folks told me how dumb it was to not have a mortgage. Far as I know, they're all going to work in the morning. I'm going deer hunting.

I wish I could give you a triple like for this. I paid off my mortgage about 5 years ago and it sure has made retirement a lot easier not having that $1100 a month going out the door.

My late father equated paying interest to slavery. So I was glad to get all of my debts paid off except for the first mortgage when it came time for me to retire. So from listening to Pop I developed an inate dislike for having debt, and I had my mortgage paid up a couple years ahead. Instinctively I felt it was a good idea to pay off a mortgage, but listening to Dave Ramsey finally allowed me to succinctly explain it. Dave Ramsey put it all into one sentence: "Why do you want to pay the bank a dollar in interest to save 28 cents in income tax?"

 

[Beemer-mark]

I'm 70 and just keep refinancing. I'll never pay it off. But it's a fixed cost on my budget.

 

[crstrode]

Bought our home in December 2016. It was paid in full before January 2017.

Mortgages are for those that are bad at math.

 

[crstrode]

I have more than one college degree - all paid for by yours truly. I've learned a lot that has helped me through life. However the most valuable lesson I was ever taught was given to me by my father.

"Never a borrower nor a lender be".

Drifting off that course has always been expensive. Staying on course enriches me every time - without fail.

 

[LoboGunLeather]

Our last home was built with my hands 23 years ago. Took a 15-year mortgage on completion, then we paid it off in 7 years with additional principal payments every month. After the mortgage was gone we continued putting the house payments into a money market fund every month (you don't miss it because you are accustomed to paying it out).

When I retired and sold the business in 2015 we purchased our retirement home using a check from the money market account. Then we sold the old house and put the money in certificates of deposit which (even at today's low rates) provide enough income to cover our property taxes, insurance, and utilities.

Debt-free is a great feeling. I can't imagine trying to retire with house payments or rent.

 

[Ole Joe Clark]

The time to pay additional principle on a home loan is at the beginning of the loan. Every time (early in the loan), we paid 50.00 additional principle, we saved about 500.00 in interest during the life of the loan.

Have a blessed day,

Leon

 

[Mike SC Hunter]

Way to go!

I paid mine off when I was 40. I'm now 48 and retired. Several folks told me how dumb it was to not have a mortgage. Far as I know, they're all going to work in the morning. I'm going deer hunting.

I waded the same creek. We saved a lot and just before we retired(2014) we paid off everything. A FANTASTIC feeling. My 96 Chevy was getting a little aged so in 2018.....So I dug up a few coffee cans and bought me a new one for cash. I hope(and I plan) I"m never in a finance situation ever again.

gregintenn............I went deer hunting this morning and yesterday too!

 

[dave1918a2]

Congratulations, especially 12 years early. Had Mine paid for when I bought up here. Used a VA loan to buy up here and took My time selling My Colorado home. Sold My CO home and paid this one off after making one payment and still put 100K+ in the bank.

 

[MRB1]

We made double payments on our mortgage, which required adhering to a strict, no-frills budget until the note was paid off. We, over time, discovered buying only what was needed (and not just wanted) didn't impact our lives at all.

 

[Waldo]

Well, we signed the papers for this place January 30, 2004 (I think the 30th) and moved in during a snowstorm. After Dec. & January the 30-year mortgage will be paid off. This is a first for me, sorta. Our old house was already my wife's when we got hitched and it got paid off when we sold it about the same time, but this place is OURS, so I'm gonna be happy sometime in January '22. I'm just excited about it, especially paying it off about 12 years early, if my math is turned on.
I could not have done this without having a good union trades job where they make us have annuities proper union wages. Plus, working for the PGH Public Schools put me in an excellent pension, also.
If there are any young people on the Forum or some of your sons & daughters, you don't have to push for a college degree. There are a lot of trades jobs coming. If you can get into Steamfitters, Electrical IBEW, Plumbers, Operators, Teamsters, etc., do yourself a favor. Trade School. What ever you want, it's out there. $$$$

The only thing about this post that I do not like is that you did not mention the Ironworkers. I am a retired Union Ironworker. Retired at 55 years old. The only reason I could afford to buy a few guns was my Union wages.

 

[JJM7288]

Well, we signed the papers for this place January 30, 2004 (I think the 30th) and moved in during a snowstorm. After Dec. & January the 30-year mortgage will be paid off. This is a first for me, sorta. Our old house was already my wife's when we got hitched and it got paid off when we sold it about the same time, but this place is OURS, so I'm gonna be happy sometime in January '22. I'm just excited about it, especially paying it off about 12 years early, if my math is turned on.
I could not have done this without having a good union trades job where they make us have annuities proper union wages. Plus, working for the PGH Public Schools put me in an excellent pension, also.
If there are any young people on the Forum or some of your sons & daughters, you don't have to push for a college degree. There are a lot of trades jobs coming. If you can get into Steamfitters, Electrical IBEW, Plumbers, Operators, Teamsters, etc., do yourself a favor. Trade School. What ever you want, it's out there. $$$$

Don't forget to pay the electric bill!

Paid our home off in 2009. I was the most independent person around. One day my wife called to tell be a man from Boone REMC was at the door to collect the electric bill. She asked if I paid it, I said no, pay the man! She did and from then on I pay the utility bills.
Congratulations! It's amazing how quickly wealth accumulates without a mortgage, or other debt.

 

[Mike SC Hunter]

The only thing about this post that I do not like is that you did not mention the Ironworkers. I am a retired Union Ironworker. Retired at 55 years old. The only reason I could afford to buy a few guns was my Union wages.

Not an iron Worker or a union man............My career was in Rigging. So I was a Rigger...........When I tell people that I was a Rigger.......Most go "Huh?"