gregintenn
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Post by gregintenn on Jan 24, 2016 19:58:20 GMT -5
If you are, get on here and crow about it! You've earned it.
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justme
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Post by justme on Jan 24, 2016 20:06:39 GMT -5
Nope. Gotten in debt about $150k in the last 6 months. Life is grand.
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tallguy
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Post by tallguy on Jan 24, 2016 20:09:03 GMT -5
Have been for years. Got a little p***ed at my bank when they wouldn't take my ex-wife's name off the mortgage on a HARP refi they offered me. So maybe a year later I said "Hell with it!," wrote a big check (from the sale of another property in which I held an interest), and paid the thing off. Have never had a car loan. Paid off relatively small student loans decades ago. And the only time in my life I ever paid interest on a credit card was because my then-wife was the one who wrote the checks, couldn't find a bill, and guessed at an amount.
Question though: Do you not want to know if anygirls are debt-free?
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Deleted
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Post by Deleted on Jan 24, 2016 20:10:44 GMT -5
Debt free? Or positive net worth?
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:12:28 GMT -5
Debt free? Or positive net worth? DEBT FREE. Don't owe anybody in the world a penny.
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Deleted
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Post by Deleted on Jan 24, 2016 20:12:56 GMT -5
I haven't had any debt but the mortgage for 12 years now. I hate that mortgage.
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:13:19 GMT -5
So far it's me and tallguy. I know there's some more of you out there.
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mmhmm
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Post by mmhmm on Jan 24, 2016 20:13:36 GMT -5
I'm debt free. Have been for years. I loathe paying interest. Just rubs me the wrong way.
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:14:06 GMT -5
I haven't had any debt but the mortgage for 12 years now. I hate that mortgage. KILL THE MORTGAGE!!!!
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Bonny
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Post by Bonny on Jan 24, 2016 20:14:20 GMT -5
Define "debt-free".
We pay off our CCs every month, no student loans, no car payments and we don't have a mortgage on our primary home. However three of our rentals have mortgages.
I don't think being mortgage free is necessarily a virtue or even smart. We could pay off those mortgages but choose not to because they are low interest loans and I don't want the bulk of our money in illiquid, expensive real estate.
We're down to $870k in mortgages from a high of $1.250M. Yea us!
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tallguy
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Post by tallguy on Jan 24, 2016 20:15:16 GMT -5
So far it's me and tallguy. I know there's some more of you out there. Who would have thought we'd be on the same side of ANYTHING a few years ago?
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:15:54 GMT -5
Define "debt-free".
We pay off our CCs every month, no student loans, no car payments and we don't have a mortgage on our primary home. However three of our rentals have mortgages.
I don't think being mortgage free is necessarily a virtue or even smart. We could pay off those mortgages but choose not to because they are low interest loans and I don't want the bulk of our money in illiquid, expensive real estate.
We're down to $870k in mortgages from a high of $1.250M. Yea us! Debt free means you don't owe anyone any money.
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:16:27 GMT -5
So far it's me and tallguy. I know there's some more of you out there. Who would have thought we'd be on the same side of ANYTHING a few years ago? Feels good doesn't it?
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Gardening Grandma
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Post by Gardening Grandma on Jan 24, 2016 20:17:34 GMT -5
We were debt free. Totally debt free until last month. Wanted to buy the lot next door so refinanced $50k.
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Deleted
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Post by Deleted on Jan 24, 2016 20:18:06 GMT -5
Define "debt-free".
We pay off our CCs every month, no student loans, no car payments and we don't have a mortgage on our primary home. However three of our rentals have mortgages.
I don't think being mortgage free is necessarily a virtue or even smart. We could pay off those mortgages but choose not to because they are low interest loans and I don't want the bulk of our money in illiquid, expensive real estate.
We're down to $870k in mortgages from a high of $1.250M. Yea us! Debt free means you don't owe anyone any money. Well if I was still renting I could be debt free. I think I'm better off with the mortgage. I'm not upside down on my house or anything.
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dannylion
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Post by dannylion on Jan 24, 2016 20:20:56 GMT -5
Me! Me! I am!
The mortgage was the last to go, and that's been gone for almost 4 years. I've been putting the amount of the mortgage into an investment fund and then adding it to my regular dollar-cost-averaging purchases of stocks and ETFs.
I will probably finance the next car if I can get zero% again. I have the money for the next car saved and will leave it alone and just cash-flow the payments at zero%.
Still trying to decide whether to finance the kitchen and bathroom renovations, but I like being debt-free, so I'll probably just pay for it out of the renovations fund.
I really like the multiple-accounts feature with the online banks. I have separate accounts for every conceivable expense and contingency. I could just put it all together, but putting away the money for each item provides some perspective and probably keeps me from overspending.
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Bonny
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Post by Bonny on Jan 24, 2016 20:21:50 GMT -5
Define "debt-free".
We pay off our CCs every month, no student loans, no car payments and we don't have a mortgage on our primary home. However three of our rentals have mortgages.
I don't think being mortgage free is necessarily a virtue or even smart. We could pay off those mortgages but choose not to because they are low interest loans and I don't want the bulk of our money in illiquid, expensive real estate.
We're down to $870k in mortgages from a high of $1.250M. Yea us! Debt free means you don't owe anyone any money. Financially we would have been better off NOT paying off the home mortgage in 2012 and simply invested it the S&P 500 index fund.
We're missing a major milestone because of that, LOL!
I don't worry about being debt free and focus on being retired early and financially independent.
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:24:09 GMT -5
Debt free means you don't owe anyone any money. Financially we would have been better off NOT paying off the home mortgage in 2012 and simply invested it the S&P 500 index fund.
We're missing a major milestone because of that, LOL!
I don't worry about being debt free and focus on being retired early and financially independent.
Good for you. This thread is about being debt free.
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andi9899
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Post by andi9899 on Jan 24, 2016 20:25:38 GMT -5
This is my first order of business when the girls move out. I'd have a much bigger dent in it by now if I had a husband helping pay bills, but I'd rather be broke than married.
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vonna
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Post by vonna on Jan 24, 2016 20:27:48 GMT -5
Not debt free here. Dh and I both retired from the military in our 40's, but we currently have a 3.25% 30 year fixed rate mortgage that we are not paying a dime more than needed on. We have more than enough in investments/savings to pay it off, but we like the low rate, and believe we will come out ahead in the long run by not paying it down early.
No other debt than our mortgage, which was our "debt free" mark, but I understand that others may feel differently.
Personal finance IS personal, after all!
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Bonny
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Post by Bonny on Jan 24, 2016 20:28:15 GMT -5
Financially we would have been better off NOT paying off the home mortgage in 2012 and simply invested it the S&P 500 index fund.
We're missing a major milestone because of that, LOL!
I don't worry about being debt free and focus on being retired early and financially independent.
Good for you. This thread is about being debt free. You're right. You want to point out how being "debt free" makes you smug and superior to others and I've pointed out how being debt-free isn't everything it's cracked up to be.
But carry on!
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:28:23 GMT -5
This is my first order of business when the girls move out. I'd have a much bigger dent in it by now if I had a husband helping pay bills, but I'd rather be broke than married. Don't give up!
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quince
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Post by quince on Jan 24, 2016 20:29:30 GMT -5
Gasp! We're not debt free! We use credit cards to pay for things (then pay in full at the end of the month- we don't pay interest, of course! Ew. CC interest.)
Else, no debt since we sold our house (we also had enough cash to pay it off for a year before we sold it, but liquidity is nice.)
There's quite a few people here with mortgages because the interest rates are good enough that their expected return on investment is better in the market than paying off their real estate, and they are comfortable with the risk that the market performs poorly. There are people with no-interest car loans. Or who use credit cards for the rewards and pay in full every month, or even right after the charges show up. Debt = Yucky is great for people with poor impulse control, but for everyone else, debt can be a useful tool.
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:29:27 GMT -5
Good for you. This thread is about being debt free. You're right. You want to point out how being "debt free" makes you smug and superior to others and I've pointed out how being debt-free isn't everything it's cracked up to be.
But carry on!
Thank you. I believe I will.
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Deleted
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Post by Deleted on Jan 24, 2016 20:30:29 GMT -5
Ok. I don't care too much about a little debt I could pay off if I wanted. But you guys have fun
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:31:23 GMT -5
Gasp! We're not debt free! We use credit cards to pay for things (then pay in full at the end of the month- we don't pay interest, of course! Ew. CC interest.) Else, no debt since we sold our house (we also had enough cash to pay it off for a year before we sold it, but liquidity is nice.) There's quite a few people here with mortgages because the interest rates are good enough that their expected return on investment is better in the market than paying off their real estate, and they are comfortable with the risk that the market performs poorly. There are people with no-interest car loans. Or who use credit cards for the rewards and pay in full every month, or even right after the charges show up. Debt = Yucky is great for people with poor impulse control, but for everyone else, debt can be a useful tool. If you aren't carrying a balance on them, you're debt free in my book! Great job.
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Deleted
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Post by Deleted on Jan 24, 2016 20:39:03 GMT -5
Good for you. This thread is about being debt free. You're right. You want to point out how being "debt free" makes you smug and superior to others and I've pointed out how being debt-free isn't everything it's cracked up to be.
But carry on!
That's not fair. This is something they've worked towards and accomplished. They are allowed to brag about it and not be subjected to the jealousy of those that have not been so successful at it. You're being petty.
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beergut
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Post by beergut on Jan 24, 2016 20:41:33 GMT -5
The OP asks if anyone else is debt free, but the real purpose of the thread was for him to brag about being debt free. I have minimal student loan debt left, could pay it off right now if I wanted to, don't care to.
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:41:30 GMT -5
You're right. You want to point out how being "debt free" makes you smug and superior to others and I've pointed out how being debt-free isn't everything it's cracked up to be.
But carry on!
That's not fair. This is something they've worked towards and accomplished. They are allowed to brag about it and not be subjected to the jealousy of those that have not been so successful at it. You're being petty. It's cool. I've been called an asshole in several threads. smug and superior is a welcome change of pace.
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gregintenn
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Post by gregintenn on Jan 24, 2016 20:43:27 GMT -5
The OP asks if anyone else is debt free, but the real purpose of the thread was for him to brag about being debt free. I have minimal student loan debt left, could pay it off right now if I wanted to, don't care to. Yeah...that's probably it. But you know, he might have wanted to give others the chance to brag a bit as well, and be a bit of inspiration to people who are working toward that goal and aren't quite there yet.
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