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Joined: Aug 2005
Posts: 10,759
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Aug 2005
Posts: 10,759 |
Curious how many still have a mortgage? If not how old were you when you paid it off? I'm 53 and thinking in the next 5 years I want our house paid off. Still owe 70K on a $350K property but with no other debt I should be able to do it. Don't want to be 70 (or even 60) and still have a mortgage. How about you?
A true sportsman counts his achievements in proportion to the effort involved and fairness of the sport. - S. Pope
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Joined: Jan 2005
Posts: 38,891 Likes: 4
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2005
Posts: 38,891 Likes: 4 |
Not a real member - just an ordinary guy who appreciates being able to hang around and say something once in awhile.
Happily Trapped In the Past (Thanks, Joe)
Not only a less than minimally educated person, but stupid and out of touch as well.
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Joined: Mar 2007
Posts: 4,319
Campfire Tracker
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Campfire Tracker
Joined: Mar 2007
Posts: 4,319 |
No, but should be by the time I am 55 in 3 years.
NRA Life Member
~Molɔ̀ːn Labé Skýla~
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Joined: Feb 2016
Posts: 17,821
Campfire Ranger
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Campfire Ranger
Joined: Feb 2016
Posts: 17,821 |
Job loss and divorce. Yeah, i got one. Am livin cheap though.
Hopefully pay off before 65.
Give it to my disabled kid.
Last edited by hookeye; 02/19/21.
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Joined: Oct 2006
Posts: 1,915 Likes: 1
Campfire Regular
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Campfire Regular
Joined: Oct 2006
Posts: 1,915 Likes: 1 |
I was 50 when mine was paid off. I think anyone's goal should certainly have it paid off before retirement.
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Joined: Jan 2010
Posts: 10,731 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2010
Posts: 10,731 Likes: 1 |
About 2 yrs to go on this one.
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Joined: Dec 2017
Posts: 633
Campfire Regular
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Campfire Regular
Joined: Dec 2017
Posts: 633 |
Paid mine off Jan 2012 when I retired at 49.
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Joined: Jan 2005
Posts: 57,494
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2005
Posts: 57,494 |
Never had a house note. Started small, With cash and upgraded and profited, etc... remodels all done by saving cash etc. Don't much believe in payments if we can avoid them. instead we wait.
We can keep Larry Root and all his idiotic blabber and user names on here, but we can't get Ralph back..... Whiskey Tango Foxtrot, over....
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Joined: Nov 2005
Posts: 54,284
Campfire Kahuna
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Campfire Kahuna
Joined: Nov 2005
Posts: 54,284 |
59. Two paid off. Been that way since 2005.
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Joined: Aug 2007
Posts: 115,424 Likes: 13
Campfire Sage
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Campfire Sage
Joined: Aug 2007
Posts: 115,424 Likes: 13 |
Trump being classless,tasteless and clueless as usual. Sorry, trump is a no tax payin pile of shiit. My young wife decided to play the field and had moved several dudes into my house
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Joined: Aug 2012
Posts: 2,435
Campfire Regular
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Campfire Regular
Joined: Aug 2012
Posts: 2,435 |
Have a mtg, but am growing cash in an “offset” savings account. When the accumulating cash equals the declining mtg balance, BAM! I’ll pay it off. Sure, I could just put the extra cash against the debt and save some mtg interest expense, but I just don’t think now is a good time to lose that liquidity. YMMV.
"Keep your mouth shut, work hard. Life is tough. Work through it.” -- Stetson Bennett, Quarterback, Georgia Bulldogs
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Joined: Jan 2005
Posts: 17,042
Campfire Ranger
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Campfire Ranger
Joined: Jan 2005
Posts: 17,042 |
Paid the last one off in 14 years, been totally debt free for 12 years, I'm 63.
Kent
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Joined: Jan 2009
Posts: 23,319
Campfire Ranger
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Campfire Ranger
Joined: Jan 2009
Posts: 23,319 |
Curious how many still have a mortgage? If not how old were you when you paid it off? I'm 53 and thinking in the next 5 years I want our house paid off. Still owe 70K on a $350K property but with no other debt I should be able to do it. Don't want to be 70 (or even 60) and still have a mortgage. How about you? I can relate to your thinking. About 10 years ago I set a goal to payoff the mortgage in five years. It was our last debt to pay off. Five years later, we paid off the mortgage. Two years later I retired. Great peace of mind for me seeing that the little wifey will have no worries about shelter, should I pass suddenly. I think you are on the right tract. If I could recommend anything that has worked for me it would be to stay on a strict payment timeline that ensures you are 100% debt free before you retire.
"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
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Joined: Oct 2012
Posts: 7,624 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2012
Posts: 7,624 Likes: 2 |
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Joined: Feb 2006
Posts: 1,579
Campfire Regular
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Campfire Regular
Joined: Feb 2006
Posts: 1,579 |
Yes. Totally debt free and well stocked with ammo.
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Joined: Jan 2009
Posts: 23,319
Campfire Ranger
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Campfire Ranger
Joined: Jan 2009
Posts: 23,319 |
Have a mtg, but am growing cash in an “offset” savings account. When the accumulating cash equals the declining mtg balance, BAM! I’ll pay it off. Sure, I could just put the extra cash against the debt and save some mtg interest expense, but I just don’t think now is a good time to lose that liquidity. YMMV. That'll work!
"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
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Joined: Jan 2009
Posts: 23,319
Campfire Ranger
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Campfire Ranger
Joined: Jan 2009
Posts: 23,319 |
Never had a house note. Started small, With cash and upgraded and profited, etc... remodels all done by saving cash etc. Don't much believe in payments if we can avoid them. instead we wait. Best way to do it!
"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
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Joined: Jan 2010
Posts: 23,546 Likes: 1
Campfire Ranger
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Campfire Ranger
Joined: Jan 2010
Posts: 23,546 Likes: 1 |
at the moment I have the cash to pay it off in various accounts but I'm scared to empty out my savings, so I probably have maybe 2 more years.
I have the itch to move but I don't want to move in a sellers market as odd as that sounds, since I wouldn't have to sell my home,at least not right away I want to wait until there are a bunch of houses on the market then buy.
Last edited by KFWA; 02/19/21.
have you paid your dues, can you moan the blues, can you bend them guitar strings
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Joined: May 2006
Posts: 2,886
Campfire Regular
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Campfire Regular
Joined: May 2006
Posts: 2,886 |
I think a mortgage at today's interest rates is a hedge against inflation.
abusus non tollit usum
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Joined: Dec 2017
Posts: 4,576
Campfire Tracker
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Campfire Tracker
Joined: Dec 2017
Posts: 4,576 |
Dave Ramsey says it best. "The paid-off home mortgage has taken the place of the BMW as the status symbol of choice."
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