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After what feels like an eternity- scrimping, hard budgeting and generally being a tight A** my wife and I will have cleared our mortgage this year!

YAAAAAAS!

Congratulations! It’s a better place to be.

Daveho wrote: ↑

Sun Jan 27, 2019 1:13 pm

After what feels like an eternity- scrimping, hard budgeting and generally being a tight A** my wife and I will have cleared our mortgage this year!

YAAAAAAS!

Congratulations! A former pastor would always say "what can you do after paying off your mortgage? .....ANYTHING you want!"

Congratulations! What an amazing feeling that must be, especially before retirement. I try to throw an extra $50-100 a month towards the principle to try and knock off a few years. We still owe around $118,000...soooo, we've got some more work to do haha!

Think about all the new knives you can afford now!?

So which spyderco are you going to buy to celebrate?

Congrats Dave, well done! :cool:

Hope to have ours paid in the next couple of years, God willing then I’ll retire.

I think I’ll end up going to school and doing a degree or something to that effect and working part time.

Congratulations!

Debt free is a great feeling. :)

Gratz, sweet.
I'm lightyears away from paying off mine and I don't stress it to much either.
Long live inflation

I’m so excited-
The prospect of not having to work full time and getting more time at home with my growing family!
Really makes grinding it out so hard worth it

Just don't let the debt grow again--every. Not having to make payments on anything is incredibly liberating. You've just bought a major chunk of freedom for yourself and your family.

Few things financial are better than getting out from under a mortgage. Congrats.

Congratulations Dave!

Thanks for the kind words gang-
It’s really exciting as most of my contemporaries haven’t yet pulled the trigger on starting a mortgage.

Daveho wrote: ↑

Sun Jan 27, 2019 7:25 pm

I’m so excited-
The prospect of not having to work full time and getting more time at home with my growing family!
Really makes grinding it out so hard worth it

Congratulations and indeed it’s a good feeling!

Spydergirl88 wrote: ↑

Sun Jan 27, 2019 3:59 pm

So which spyderco are you going to buy to celebrate?

Not sure yet-
But my birthday is coming up so I have put a vtoku stretch in the cart for my wife to give me :)

Congratulations. It's a good feeling, isn't it?

Imagine how soon you can retire if you put half of what you were putting into the mortgage away into a good savings vehicle instead.

There's an interesting article here (https://www.mrmoneymustache.com/2012/01 ... etirement/) if you're not familiar with the math.

I know quite a few people who retired by 40. And even more who retired before 45.

The huge feeling of relief you have when you no longer have to pay a mortgage isn't even close to the relief of realizing you never have to go to work again unless you actually want to.

You are quite right-
I turn 30 next month so not only has it afforded me the opportunity to prioritise family life but obviously when you factor out the interest and both myself and my wife being quite frugal we will be in a very good position for retirement.

I personally won’t retire of course as work brings me a lot of joy but I also would like to go to school and do a degree and eventually move into a more intellectual field but my son now being 7 months old it means, god willing, that he and any subsequent kids will grow up having their parents around a bit more and having the flexibility to be more involved.

We are also planing a move and will be moving from that little 3 bedroom starter house to a larger home, more suitable for long term living with a family our size (in the Australian culture anyway, a lot of people do just find in small dwellings around the world)

Congrats.

Moved remote and stopped consuming was the trick for me to pay off everything. And the best for the family.

Continued to pay mortgage into a bank account for a few years and purchased a investment property in Tassie when the interest rate for savings was about 1%.

48 Love my job too much to retire, but good to know I could at 50 if I wanted (gov super also )