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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?


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Been clear for years.


Not a real member - just an ordinary guy who appreciates being able to hang around and say something once in awhile.

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No, but should be by the time I am 55 in 3 years.


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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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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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About 2 yrs to go on this one.

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Paid mine off Jan 2012 when I retired at 49.

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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.


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59. Two paid off. Been that way since 2005.

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No idea.

Never asked.


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My young wife decided to play the field and had moved several dudes into my house
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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.


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Paid the last one off in 14 years, been totally debt free for 12 years, I'm 63.

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Originally Posted by centershot
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.


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Yep

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Yes. Totally debt free and well stocked with ammo.


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Originally Posted by mrchongo
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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Originally Posted by rost495
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!


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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.

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I think a mortgage at today's interest rates is a hedge against inflation.



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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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