Popular Post Sgt. Pepper Posted May 22 Popular Post Share Posted May 22 (edited) The other day, me and my wife went to Newport News, VA, and moved everything out of the rental house we had. Tomorrow is the closing on that house. The house in Little River, SC is paid off. Both cars are paid off. We have 0 credit card debt, and the money from the closing should be wired to our account this week. Kids are long gone from living with us. Now all we have to do is keep the lights on, pay the taxes, and make sure the dog gets fed, and me and my wife are debt-free. I smell a trip to Barbados soon. Edited May 22 by Sgt. Pepper 5 3 2 Quote Link to comment Share on other sites More sharing options...
DanvillRob Posted May 22 Share Posted May 22 (edited) Congratz! As I was planning for retirement, I paid off the house....so now just have to pay property taxes, utilities & Insurance. I've not had a car payment in 40 years. I've NEVER carried any kind of debt for long. I paid off the Solar panels (10-year loan) in a year. Haven't carried credit card debt in over 40 years. I get the maxium Social Security payment each month, (except they ding me over $450/month for Medicare. My wife gets a much smaller Social Security payment, it's based on my payment, but she started taking Social Security at 64. I get a monthly payment from my investments that about matches my Social Security payment. I still get a sizeable check from my old job.....(next year will be my last check). So, like you..... I just sit and pass the time as debt free as one can be in California. Edited May 22 by DanvillRob 1 Quote Link to comment Share on other sites More sharing options...
NighthawkChris Posted May 22 Share Posted May 22 Congratulations @Sgt. Pepper hope everything goes all as planned! Quote Link to comment Share on other sites More sharing options...
Ceptorman Posted May 22 Share Posted May 22 Congrats fellas, that has to be a good feeling. Sarge, that's impressive, because I believe you're in your mid 50s? So....no new guitar purchase? 1 Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted May 22 Author Share Posted May 22 6 minutes ago, Ceptorman said: Congrats fellas, that has to be a good feeling. Sarge, that's impressive, because I believe you're in your mid 50s? So....no new guitar purchase? Nope. I only want a Martin M-36 and even used they are stupid expensive. Quote Link to comment Share on other sites More sharing options...
PrairieDog Posted May 22 Share Posted May 22 (edited) Congratulations! It’s a wonderful feeling! We theoretically are at the point where we could pay off the house in a lump, but our advisor said, because we have a such a low interest rate on the mortgage, we’d lose more interest now than we would save paying it off. Plus, thanks to inflation, the payment is costing less in today’s dollars than when we took it out. I just said this morning, when we took it out our payment could buy a “good” new guitar every month. Now it will only buy a fair used one. Still, it’s hard not just ripping the bandage off and having the security. I can’t get there fast enough. I really don’t want to go into retirement with a mortgage. And credit card debt is the devils score! Oh I had trouble when I was young. Vowed never again. I use my cards to keep my credit score up, and to get the cash back perks, but never more than I can comfortably cover when the bill comes. I will occasionally use those 0% promotions for big ticket items, but then yeah, like Rob, I always pay off faster way faster than the plan would let me. Edited May 22 by PrairieDog 1 Quote Link to comment Share on other sites More sharing options...
gearbasher Posted May 22 Share Posted May 22 (edited) Congratulations. Good for you. My parents always believed that if you had to borrow money, you can't afford it. And that's how I was raised. I've never owed a penny in my life. I lived (and still live) very simply. I have everything I need and want (i.e. house, car, guitars, bicycles, etc.). I've been retired for 8 years now and my pension more than covers my expenses. I have a separate annuity plan that I haven't touched, yet. All I have to pay are property taxes, insurance and utilities. Oh. and food. I like to eat, but I love to cook. So, I don't eat out. My food bill isn't much at all. Edited May 22 by gearbasher 1 Quote Link to comment Share on other sites More sharing options...
OrdinaryNimda Posted May 22 Share Posted May 22 👍 I hear J-200s are great, too. Quote Link to comment Share on other sites More sharing options...
NighthawkChris Posted May 22 Share Posted May 22 There’s a rumor going around that Gibson is letting cracked nuts get by their QC. Inspect your NGD present carefully. Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted May 22 Author Share Posted May 22 43 minutes ago, NighthawkChris said: There’s a rumor going around that Gibson is letting cracked nuts get by their QC. Inspect your NGD present carefully. Good thing I down own any guitars that begin with G. 1 1 Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted May 22 Author Share Posted May 22 (edited) 1 hour ago, OrdinaryNimda said: 👍 I hear J-200s are great, too. Nope - too big. I played one once. Plus I don’t like maple as a tone wood. Edited May 22 by Sgt. Pepper 1 Quote Link to comment Share on other sites More sharing options...
Notes_Norton Posted May 22 Share Posted May 22 Congrats. The best thing we did is finance our home with a 15 year mortgage, paid an extra $100 on the principal every month, and paid it off in less than 10. Our cars are old, but still run well, and we also have zero debt, and have been for years. Once you have zero debt, you are free. Welcome to the club. Notes ♫ 1 1 Quote Link to comment Share on other sites More sharing options...
sparquelito Posted May 22 Share Posted May 22 It is indeed a good feeling. Lean existence sometimes, here in retirement, but owing nothing to nobody is a very liberating way of life. 🙂 2 1 Quote Link to comment Share on other sites More sharing options...
Ceptorman Posted May 22 Share Posted May 22 56 minutes ago, Sgt. Pepper said: Good thing I down own any guitars that begin with G. Not even a Gallotone? Gretsch, Guild? Quote Link to comment Share on other sites More sharing options...
'Scales Posted May 22 Share Posted May 22 (edited) Good for you Joel Debt is something I’ve avoided as much as I could as it always resembled a dead weight to me. I think I was 38 the last time I owed money I needed to work a job in order to pay - the freedom of that debt-free feeling over the past 16 years has been great for my peace of mind and well-being I’m sure, and I hope you enjoy similar. Job well done mate! Edited May 22 by 'Scales ‘cos it’s a sunny day outside 1 Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted May 22 Author Share Posted May 22 (edited) 4 hours ago, Ceptorman said: Not even a Gallotone? Gretsch, Guild? I used to have a Guild, and lots of Gibson’s, but now just 2, and both start with M. I’m waiting to join the neck reset club. Edited May 23 by Sgt. Pepper Quote Link to comment Share on other sites More sharing options...
B.T. Posted May 22 Share Posted May 22 Congrats Sarge! Got there about two years back. Retired about this time last year. Don’t have a huge amount of liquid assets but the value of our holdings is pretty good. We bring in enough to pay the bills and splurge occasionally! The best part is taking our morning walk around the neighborhood and watching everyone else head off to the “coal mine”. (I know - it’s a bit sadistic but no apologies!) Not much beats the lack of pressure. A year later and I still revel in the freedom! I thank God daily!! I take on an occasional project - carpentry - I have a well equipped wood shop and build custom pieces. I pick and choose what I want to do and when I want to do it. Well done!! Enjoy! BT 1 Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted May 23 Author Share Posted May 23 4 hours ago, sparquelito said: It is indeed a good feeling. Lean existence sometimes, here in retirement, but owing nothing to nobody is a very liberating way of life. 🙂 What culinary master piece do you make with those 4 items? 1 Quote Link to comment Share on other sites More sharing options...
sparquelito Posted May 23 Share Posted May 23 30 minutes ago, Sgt. Pepper said: What culinary master piece do you make with those 4 items? Two complete meals of chicken/mushroom ramen, plus scrambled eggs for breakfast the next day. 😐 1 Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted May 23 Author Share Posted May 23 1 minute ago, sparquelito said: Two complete meals of chicken/mushroom ramen, plus scrambled eggs for breakfast the next day. 😐 After living in Japan, it’s hard to enjoy ramen in the USA. 1 Quote Link to comment Share on other sites More sharing options...
sparquelito Posted May 23 Share Posted May 23 18 minutes ago, Sgt. Pepper said: After living in Japan, it’s hard to enjoy ramen in the USA. After living ANYWHERE it's hard to enjoy ramen in the USA. But when you are hungry, it's very much filling. And you never have to add salt. 😀 1 1 Quote Link to comment Share on other sites More sharing options...
Sgt. Pepper Posted May 23 Author Share Posted May 23 17 minutes ago, sparquelito said: After living ANYWHERE it's hard to enjoy ramen in the USA. But when you are hungry, it's very much filling. And you never have to add salt. 😀 Just a touch of MSG. And not the kind that plays a Flying V. 1 Quote Link to comment Share on other sites More sharing options...
IanHenry Posted May 23 Share Posted May 23 Congratulations, that's the way to live. Quote Link to comment Share on other sites More sharing options...
Larsongs Posted May 23 Share Posted May 23 We still have a Real Estate business.. Tax wise there’s no advantage for my wife & I to be completely debt free.. I believe we’re set up to be as debt free as we can be taking Taxes into account. If it weren’t for Taxes we would be.. 1 Quote Link to comment Share on other sites More sharing options...
MissouriPicker Posted May 23 Share Posted May 23 20 hours ago, Sgt. Pepper said: The other day, me and my wife went to Newport News, VA, and moved everything out of the rental house we had. Tomorrow is the closing on that house. The house in Little River, SC is paid off. Both cars are paid off. We have 0 credit card debt, and the money from the closing should be wired to our account this week. Kids are long gone from living with us. Now all we have to do is keep the lights on, pay the taxes, and make sure the dog gets fed, and me and my wife are debt-free. I smell a trip to Barbados soon. Congrats on being debt free! It’s an awesome feeling to be debt free. Time to take a relaxing trip. You’re at a special time in life. Enjoy it! Quote Link to comment Share on other sites More sharing options...
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