Listening to Dave Ramsey and he makes is sound like a rare thing to actually own your own home (no mortage).

I'm personally not there yet, getting close $13,500 to go on a $479K property (according to Zillow). Should have it knocked out by middle of next year. I'll be 55 years old when that last payment is sent in.

How about you? Paid off house? How old? What's it worth?

I wonder if Campfire members are a little more responsible than the norm? or not?

I am homeless.

finally at a point in my life where the house payment isn't an issue

Paid off at 55, 4 years ago.

I put a mortgage worth of paycheck in savings every month.

Zillow says $900k but I think that’s low.

Built her on 5 acres in 1997.

Finished paying for mine last July. Bought it when I changed my status to “single” in ‘99. Zillow says $480K, but I doubt it.

Our house is paid off. I was 42 when we paid it off. Zillow thinks our address is several miles away and only 5 acres. No comps anywhere near us, but I wouldn't sell cheap.

I'm 40, bought it when I was 23 and paid it off a few years ago, but it isn't really worth schidt. This whole area is dying, population is shrinking and properties not on acreage have decreased in value a fair bit. The price of acreage has increased about 10x in the same amoubt of time my house has lost about 30% of its value.

Oh well, it's paid for and the taxes are cheap 🤷‍♂️

Intentionally no. I refi'd into a 3% 15 year loan when I retired in 2015. We do own the two properties in Idaho and have for years.

Paid off 8-10 years ago, we are 53 and 48.

Most of my co-workers my age still owe.
Used to work with a guy who bragged that
"I borrowed $60k to buy my house, we owe over $90k now!"
He was in his early 50s (17 years ago) and was buying into
the equity lie. He owed more on his home than it was worth at purchase!
As its value increases, he borrowed more against it.

The banks have done an astounding job of loaning people into slavery.
As a kid, debt was a four letter word. "They are in DEBT"

Now, it is made to be a good thing that enhances your life.

Used to be folks focused on what was left of the mortgage.
Then the banks evolved the word "Equity".
Suddenly, instead of trying to pay off the loan, it was desirable to
mortgage your home again, for fűck around money.

I had mine paid off debt free other than wifeys car and a smallish heloc. 45 acres acres later I’m in a mortgage again but the timber is there to cover most of it

Payed mine off 8yrs ago, retired 2yrs ago. Enjoying life.

My wife listens to Dave Ramsey...I don't do pod casts

After two divorces.......I bought

My current property.....bought late in life......59 YO.....then retired from UPS...11 yrs ago

Current mortgage is @ 2% for several more years.......this is my only obligation other than daily living expenses

What's the farm worth ?? I have million dollar 360* views......but not worth near that to say the least by any means

Home/property values are going down in most areas.....interest home rates are pushing 7%...leaving some young buyers in the dust

So what's it worth.........23 acres....including .50 acre in the city limits (city sewer & water...annexed to get that ) the rest is county

Taxes for everything is about $1800 (bass turds) I estimate total value at $550K w/water share rights

Would I sell ?? No ........Rather content here......not going anywhere

my 'out the back door pics'

About 1.4 of them are paid off.

Helped move my first wifes grand mother every time her rent went up. I was young & loved hot rods, guns, 4x4's & motorcycles, & spent way too much money. But even then I knew I wanted a roof over my head that was mine by the time I was 60. Barely made it but a big deal IMO for retirement or even hard times.

I designed & help build the shack I'm sittin in & it won't make the front cover of Home & Garden, but the utilities & the taxes/ins. are bearable.

Morgage free in Arizona but the Gooberment still gets their rent check from me every years

should have the North FL house paid off in about 6 years. 20 years to pay a 30 year mortgage. The Miami place is free and clear though.

Had mine paid off since I was 50, 8 year old and me built it. Cost 70,000, worth 400,000 now. No notes of any kind is nice. More Sako money.

I do have a parcel in town I paid $30k for less than 10 years ago recent offer of $450k if all else fails 😉😉

Paid the house off in 1997.

I have a piece of property that is paid for but don't have a house. Not ready to be tied down to any one place yet. In 5 years I will be eligible to draw my 2nd pension and will fully retire and then I'll build a house on my property and pay cash for the construction. The $$$ for that is already set aside.

Nope...
Ain't fretting it either.

Be left to Khanarella or the daughters.

Sell it, keep it ...
Whatever..
Right now it is in my will with Khanarella and then division equal among the 3 daughters if she is wormbait.

Little over half way on the mortgage...
We been adding 300 a month to the payment for awhile.

Home farm equipment land everything is paid for it's an awesome feeling. What I have may not be much to some might be a goldmind to others but I am content and happy..

Parcel down the road I paid $7k for offered $50k

Yes mortgage free for over 6yrs, actually totally debt free owing no one anything. Just kept spending less than I made and paying early on everything.

I'm 45 and we live in one of the cheapest places on Earth and yes, our little house is paid off.

Bought in 2010 when things were really cheap. At the time we didn't have a nickel to our name and paid $90k, FHA loan with like $5k down? Now I wouldn't sell it for less than $240k so obviously it's been a good investment.

This past spring we bought another house up the street, paid $190 and owe about 130 so not too worried as that's our only debt.

That extra $300 a month off the base of the principal you will have it paid off before you know it that's the way to save lots of money..

Haven't made a mortgage or vehicle payment for 20 years--which is partly why we can afford to retire even after being "self-employed" (no pension) since our 30s.

When we married , My wife and I both had a home paid for but I still owe a little on my fish camp.

Paid mine off when I was 40. I’m 49 now and been retired a year. No idea what it’s worth, but we’re happy here so it doesn’t matter.

They're never paid off.

Property taxes every spring and fall..................

Paid off in '07 @ 41 years old. Have been debt free since. Property tax is only $600/year due to my Veterans discount. Bought the wife a newer Jeep last year, paid $32,000 cash. Surprisingly, it is worth more now. I have $150K set aside for property to develop. Haven't found it yet, but I'm looking.

They usually are a great investment. Congratulations on having no mortgage.

You pay property tax twice a year? Here it's once a year

Yes, bought our new place then sold the old house 3 months later, put the money in the bank, house here now we paid 642.000 now at 900.000 or more if we sold it.

No mortgage, but we pay our rent to the state and county quarterly.

Maybe it's cheaper doing it that way each time but that's just the odd way to me but what do I know different location

That's how you hurt the bastards!


Haha!

Debt free for over 30 years

Yeah, we do that too--but in our part of Montana it still isn't too bad!

Paid off a few years ago.

Yep ,no debit. everything is paid off . worked hard at it ,gave up a lot ,but worth it

Just sold my house a month or so back. Im homeless😁

Waiting to see how bad schit gets.

Paid off 8 years ago, been putting the same as the payment in the bank since. Each year add to the CDs.

A house is a great feeling, especially after bouncing around and paying rent for 15 years.



Taxes on our rez hut are about $2400/year, you can pay it every 6 months or once a year.

Paid off since 2009, at 52 years old, was the last debt we have had. Just paid the property tax for the year.

Kent

3x here,Jan,June,Sept. fuggin sux

#Doublewide

No and never will.

I have a $300k mortgage on a $1.25 M “ranch”

Paid off in '07. Not having a mortgage has made retirement a lot easier.
Taxes here are annual but you can pay half twice a year if you prefer. Unfortunately, the 1st half is in December, along with Christmas and the insurance on my pickup.

House and 100 acres paid off in 2011, 3 months before I retired. Gave both kids 5 acres free and clear to build their homes on, and kept the 90 in between. Land is worth over 10X what we paid for it back in 1983.

I’m mid 30s. Met my wife when I was 29. Started listening to Dave around the same time. We moved a year later, got married, started new jobs and built a house all in the same year, not quite 5 years ago. Only debt we have left is the mortgage and we’ll have it paid off within two years if things go at the rate they have been. We’re not devout Dave followers either. We’ve both been maxing out our 401ks and back door Roths each year since we got married.

Say what you want about Dave; not having payments sure helps the money stack up.

Paid off a 20-yr mortgage in 17 years. That was 20 years ago. House is now worth right at 5.5 times what we paid for it.

Nope, but I have the cash if I want to. I’m in no hurry to pay off the balance at 3%.

My home is paid for. Market value is $280,000 conservatively. The home four houses down recently sold for $350,000. I have retirement-proofed it within the last ten years. Replaced all wood fascia/soffit with Harde board, carport, insulated patio cover, new roof.

I have 4 years worth of firewood stacked and tarped.

4 of my 5 vehicles are paid off, 1 of my 2 tractors is.

I am married to my first and only wife 20+ years now

And Dave Ramsey can eat a dick.

Yes. On house #3 from 40yrs old to 60 yrs. All paid for in cash. Helps not to have kids!

My house is paid off... but I have to carry a mortgage to cover my bar tab.

For some reason I like the last line quite well. Just don't lose the wife in your golden lose the wife and it seems like it goes back to ground zero did that a couple times myself..

No debt of any kind for last 20 years, since age 42.

I don't owe a dollar to anybody, but I do know that debt is choking this country.

If you could put a neon sign on every house and every car on the road that showed the balance owed the bank, I am sure the streets and alleys would all be lit up in neon...

Debt free for two years. Retired nearly as long. Loving it.

Paid it off in 2009, it's been nice to be free. It was also nice knowing that if I died my family would have been able to carry on and not lose the house.

House and cabin both paid off. No personal debt of any kind.
Dave Ramsey is a Fugkin idiot.

When I was house shopping the bank approved me for $125000.... I went out and bought a $60000 house...

I paid it off once.... then a 20 acer piece of land came up that was just down the road from me... so I borrowed on my equity to shore up that acreage... And I paid that off now too...

Paid cash for both cars and the boat... got 5 years of home heat cut and piled in the wood shed.... I get 5 deer tags a year... I'm surrounded by potato fields....

It's just me and the dog here.... we eat very well.

Life is good.


Dave Ramsey is nothing but an advertising platform...

Mine is payed it off in April, 49 years old.

Paid it off 15 years ago a couple days before my 45th birthday.

Paid off the place in 2015. Bought a new f150 in 2016 paid it off early in 2021, have a tacoma, a Bonneville, a travel trailer, 5 boats , 4 canoes, to many guns but not as many as I would like and a wore out dog with an attitude. All paid for free and clear. Yup even got some cash, eat beans and meat ,drink cheap booze.fug loans..mb

When we were both 29 years old in 1999…. We paid the house and about $110k of other misc debts. Owed about 90k at the time on the mortgage.

That 90k was materials, we built this house (WE-US, not a contractor)

Mrs slumlord had a really cool govt contract dental project for about 2 years and was making about $2500-DAY. We didn’t piss around, we used everything coming in to wipe the slate clean.

We are 52 now.

We drive old cop cars and mail vans for our daily drivers.

Rental properties and land-farms paid off. Tenants pay my rentals off. lol

Built our house in 86 for $75K on a 14K lot. w/ a 15 year Mortgage @ 11.5%
Over the years rates went down, value went up.
Put all 3 sons through 4 years of college by refinancing , always kept about the same payment and never added to the years that were left on the original mortgage.
Mortgage free for the past 21 years. House has been appraised for a little over 600K. Lifes good !!

Yup. Lived here for going on 10 years. Paid cash.

Told my wife we have x amount. Nice house and payments for vehicles and upgrades. Or cheap house house and everything is paid for.



We went middle of road and made it work. Decent house and older vehicles, but vehicles run good and house is solid.

No payments

Pretty sure you should take a drink every time someone says Dave Ramsey said. Keep sending him your money so he can tell you what to do with it.

One paid off, one trying to partition and force the sale on to get a bat [bleep] crazy ex out of.

It was before Hurricane Ike (2008). Now I owe a little less than I paid for it in 1992.

44 and house is very close to being paid off. Wife and i have worked stupid hours and busted our asses to get to where we are in life

Funny there’s a theme here…. Hard work and living below your means. People actually need Ramsey to tell them this?

And most of them seem to hate the liberals and Democrats kind of one the same I guess but

Isn't that the truth? I always thought living on less than you make should be a normal way of living.

Been paid off

So is cottage up north

48 yrs old

Yup! Fugg em!!! Im almost 67 and I own no real property!!! No lease, no rent, no nothing.

Still owe about 20 k not sure if I will pay it off or sell in the next couple of years

Was fortunate enough that I was able to pay cash for both my houses. They are both in the country. I gave one to my mom who lives about 1mile from me. I live ½ mile from nearest neighbors, wooded all around. Love the peace and solitude 👍

Retired about 1.5 years ago at 62 and owe on both house and home equity loan. But it will be done within 5 years. I live life as I want doing what I want. Drive old vehicles that if I can't fix them my brother with 40+ years experience can. The only vehicle is a payment on my 2004 Jeep Rubicon that was a bucket list vehicle. Got plenty of guns I could sell to pay off lots of the bills but I think I'll keep them for now. Life is very good.

Being ridiculously non materialistic makes it easy to live cheap. I can't think of anything that I want enough to buy it.

It pays to be diversified brother!

Bingo.

Words to live by.

Indeed. Never understood those that don't.

Paid it off back in the 80's and i don't care what someone thinks it is worth,it is ours.

66 as for now and it was a great day when the final payment was made.

No. I purposefully refinanced at 2.5%. The two properties in Utah and the one in Wyoming are paid for though. Going to start claiming residency in Wyoming for tax purposes.

I donated 2 nice homes to Ex's. I am about 60 DAYS from paying this one off. Glad of that.

Yep, has been for about 3 years. Damn near killed me too.

Yeah, for a while,now.

I don't do (((loans))) in the first place, so all of mine are paid for.

Yes, and I have never had a mortgage.

45 now, paid the house off 4 years. Could I do it again I might refinance at 3% on a 30 year note and invest that extra cash, would be ahead in the long term. But, I suppose paying it off early was a better decision than spending it on cocaine and hookers. Maybe.

This isn't our retirement house, so that's another factor. It's a 4/3 3000' , I want something smaller and lower maintenance. Plus I want a nice car shop for the hotrods .

I've only financed one house in my lifetime and I paid it off in 2005 when I sold it. I've never financed a vehicle. I financed a tractor once but that was only because they had a 0% financing special. Life if a lot easier when you don't owe anybody anything.

We’re 71 years old. House was paid off about 20 years ago. Have moved twice since and paid cash for the homes. Haven’t financed a vehicle or anything else in more than 20 years. Never have paid a penny in credit card interest in our life.
Being debt free for 20 plus years allows a lot of “flexibility” in life.
We sorta followed Dave Ramseys policies before I heard of him.

Nope! I could but with a 2.25% rate, why?

I’m 49. Carry a small mortgage on a second home because the money was virtually free. My net worth is many multiples of the mortgage balance and I could pay it off tomorrow if I wanted to. But who doesn’t want money at 3pct before factoring in the tax deduction?

Paid for mine when I was 44. Could have done it earlier but chose not to. Moved in 2012 to accommodate some health problems. Paid cash on the difference. Presently worth $750,000 - $800,000. At present am down about $50,000 on investments. Assuming I live awhile the market will recover as it always does and I will be back to where I was.

Jim

The reason why if you're extra cash was earning less interest..

Interesting thing, taxes.


People like to talk about them, bitch or brag.

Thing is, as much as we hate them we love them.
Roads, schools, emergency response (even volunteer "self-funded depts get money from taxes) we expect the things taxes buy.

You pay for it.
Renter? Don't think the landlord pays it. It's in the rent.



A guy from Virginia and I were chatting, he ask about my property taxes.
He pays way less, on 3 times the house.

Then, the revelation!

This was...an intelligent and honest man!

"What I didn't tell you was about our other taxes. You pay real estate taxes
and you are done. When I pay for my vehicle registration, I get taxed on the value of my cars. Along with the simple registration fee like you pay. And it is substantial. It is the number one teason i drive a 25 year old pickup. I van afford a new one, would like one. But the taxes on $60k worth of pickup is crazy, and im not buying a truck just to fork over that much money to the state every year "

And he went on to describe other taxes he pays, that we don't.

Illuminating.

We all be paying Da Man.
He just takin it in different ways.

I don’t expect schidt anymore from anyone

Zero ...and tax free......

Ramsey recommends living like a peasant for your whole working life so you can be wealthy for the last 10 years of your life when you are all crippled up lol. I didn't buy until I was about 35.... payed 180k for a junk house on a couple acres in a really nice area..… spent all my spare cash and did all the work myself but when I refinanced last year it appraised for 550k.... I got a 15 year mortgage for 2.1%. I also have a boat payment and we have one truck payment...ohhhh the HORROR 🤣🤣🤣 I put good down payments on both and can dump em quick if ever need to but I'm gonna enjoy life now while my kids are young..... we can eat out whenever we feel like it, still put a little in the savings account every week and I have enough guns, trailers, and other chit I could liquidate if I ever need to. My house will be payed for by the time I retire at 55 and I will have a really good pension and annuity to pay my taxes and utilities.

It will be. Our house is in the process of being sold (Full price offer, closing at the end of Nov). Will be paying cash for the new house in Cedar City Utah.

One yes, one no. Plan on buying a 3rd with cash in the next 18 months if the housing market does what I think it will do in the PNW. The one with a mortgage has a rate so cheap I have zero motivation to pay it off. I will probably never get money that cheap again.

Paid off my first house at 30. Bought some land and built another bigger house cash money. Renting the first house but may sell when the time is right. Taxes where I live are low out in the country and I have exemption on the first house in town. I’m 47. Both trucks paid off no debt just monthly utilities bills food and hunting stuff lol.

Not yet, have 28yesrs left if we don’t pay off early. Owe $160k on a 480k piece. Should be done in 2.5-3years as it our only debt.

Two are paid off.

I started my own business when I was younger. I am now 37. Worked my ass off, and now own my home, a rental, 170 acres of land and no vehicle payment. Not bragging, but I am proud of myself and my wife.

My van is paid for! It's a warm dry home

Had one paid for, sure was nice. But county and area getting rough. Bought our current house in 2019, refinanced when things got real low and put more down. Got about 70% equity in it now. Hope to have it paid off before the first goes to college in about 5 years. Anyway if I die soon, wife can sell it and walk away with a bunch of money.

When kids are out of the house, probably gonna build something on some old scrub hunting land we have and live the rest of our days shooting deer off the back porch.

I've got a uncle who saved his whole life, multi millionaire and my aunt still outside hanging clothes out to dry. Neighborhood turned and he still refused to sell and move. He claims to have saved and invested 33% of every paycheck he has ever made. Chemical engineer. Aunt got cancer and died about 30 years ago, she never got to enjoy any of it. He remarried and started spending some of it, took new wife on nice vacations, etc. He's given the max gift tax limit to all of his grandchildren since they were born, they are graduating highschool with hundreds of grand in the bank each. He finally bought his first new vehicle ever a couple years back, a 2wd Tacoma. Told my mom it was time to start spending it. He's 88 now. I know he's leaving each daughter a mil a piece, and each of his 6 grandchildren 500k a piece when he kicks the bucket.

Shucks, I don't even know you and I'm proud of you too! Good work!

House, land, vehicles, tractor, cattle all paid for since 1992. House and tractor are both '78 models. Only thing we owe on is water, electricity, and credit card which are paid in full every month. No interest being paid here, we do not rent money.

We bought our house 21 years ago, and paid cash for it. An intangible value of the property is this million-dollar view out the back door!

I haven't had a mortgage payment in 40 years, no vehicle payments either. All we have for bills are insurance for health, homeowners and vehicles. We have to pay the government their "rent" every year too.

Been debt free since 07, ain't got much but at least it's paid for. Property taxes suck, just another way the government came up with to steal from the working class.

All my guns and optics are paid for.

🦫

$100,000.00 @ 3% fixed for 30 years = around $80,00.00 interest.

Oh yeah, that's 'free' money that only costs $55.00 a week.

The financial institutions of America love you guys.

Which one?

Sweat equity. I spent 2 years and one month building my 2100 sq ft log cabin.
It is on 48 acres. The house is worth about $350K and the land is worth $600K.

Paid off. I don't go around calling myself a millionaire, I only have $950,000.

yes mine is paid for.

Actually, that only about 50k in total interest. But I get your point. Trick is to not take 30 years to pay it off. If they'd have done 15 years at 2.5 instead, that's only about 20k in interest, and again, dont take 15 years to pay it off.

All of them are. As are all the depreciating assets. Only a fool mortgages a vehicle/boat/motorcycle/rv/aircraft/etc. - if you can't write the check, you can't afford it.

We've been debt free for a couple decades now.

We downsized about 6 years ago and paid off the current house. Looking for a duplex when the market changes finally.

Main residence and beach house both paid for since 14'. 59 YO next month. Boats, cars all paid off. No debt except monthly expenses. The thought of borrowing money terrifies me. Looking @ retiring in the next few months. Wifey planning on working a few more years.

Yrs ago 96 ish IIRC in the old westvaco lands here out in either houston or Stewart county off clyde keeler rd or hurricaine springs rd where I used to hunt.
Surrounded by westvaco regrown timber land pines.
86 acre tract of mature hardwoods with a small camp on it for sale.
Prime area for hunting...
Was like 90k....

Piqued my interest .
Had a 2 yr old daughter, preggo Khanarella with # 2 on the way.
Lot of Army issues and responsibilities on top of young family stuff, just promoted to E7 about 10 11 months prior..
🤷‍♂️

I can only imagine how much that place is worth now.

Would have been a hell of an investment.

Sometimes you lose money writing that check, taking the incentives and money off for financing a vehicle with them for example that you normally wouldnt get by paying cash/check. Then pay it off over the next couple months. You can save money this way. Just gotta do the math. You really wanna leave a couple grand on the table just to say you paid cash to your friends..?

I love me some 0% too, recently bought a fridge at lowes, normally 3200, got it for 2200 on sale, 24 months with no interest. I could have wrote a check for it, but why?

House-paid off
42 acres hunting property-paid off
53 acres farm ground-paid off
Commercial building-paid off
All vehicles-paid off
Government rent check-bastards
All guns lost in a boating accident.

Centershot: LONG time ago paid this place off - $650,000.00 value "they" say.
God damn the banker man (loan officers!)!
Hold into the wind
VarmintGuy

Sitting here at 1.8% for the small amount left. Those rates are long gone!

One house paid for that's paying for my second house. Locked in at 2.625 on the second house and have accumulated about $90K equity on the second house. The rent from the first house pays my mortgage, utilities, and taxes on the second house.

Basically, I'm inhabiting for nothing on 5 acres of quality rural Bluegrass Thoroughbred horse farm country with Lexington leftists financing the whole affair. I'd like to be able to say that it was my plan all along. But it wasn't. It just worked out that way after I bought an antebellum bungalow in the historic part of Lexington for $152K back in the late 90s.

They want to stick a "Blah lie mattah" sign in the yard,...knock yaself out. Just have the rent check ready.

Yes, bought on a 20 year mortgage, paid off early, debt free for 15 years

That’s what I was thinking too

KC

Nope. Paying them bills.
But all the farm is paid off. Equipment is owned outright.
Farm runs off its own funds. Save the good years to pay for the bad.
The house is not a big concern. Ag lending is way more expensive than a 2.5% mortgage.

But if invested wisely, that $100 grand will net way more than $80 grand, after tax in 30 years. So technically you are right, it’s not free, but it likely not the best net financial decision.

I agree, I needed some plot work done at the club and ran a across a kid straight out of highschool who was advertising on craiglist. Showed up with an old rusty tractor but it got the job done. He now has new tractors, skidsteers, all the attachments...all paid off now...and does all this in the afternoons and weekends after a week of being a linesmen for Ga Power. The kid is busting it and making a ton of money, proud of him. He's probably 25-26 now....just bought 45 acres to build a house and have his shop on. His wife doesnt have to work. And you see all these young folks crying about not making any money. Just a good ol country boy out there getting his.

Yeah I bought my house with cash. Girlfriend lives about 1/4 mile away, much nicer piece of land than mine, great oak woodlot. Friggin outstanding. Very rural.

Disagree on the vehicle. Thats a gotta have.
Borrowed on two trucks and a car for my wife.
Last car loan was 1996, last payment on a car was early 2000.
Started payroll deductions into the credit union to pay for the next one,
and haven't borrowed on a car since.

Saying you may need to borrow for a car recognizes the need for transport.
$20k+ Ain't "need" thats want.

But its the decision a majority folks have made in order to own a home. How many people, especially starting out have the cash to buy a home out right and another 100k to invest. Mortgages are always gonna be there for most. Might as well be at 3% instead of 7%. But yeah, I would certainly imagine that home will be worth a lot more than 150k you paid in the long run over 30 years as long as its been halfway kept up and in a decent area.

Just depends on what you could do with that 100k if you didn't dump it into a house.

Have you ever looked at the prices of vehicles in other countries? The same model comes in at half or less. That's because of people who buy from a dealership get royally screwed on the new price and think they're getting some kind of deal at 0% of a vehicle that costs 40 grand less in every other country. It's easy for a dealer/manufacturer to knock off 5 or even 10 grand on the price when it's over priced by 40 or more to begin with.

I haven't purchased a new vehicle since 2000 - same with purchasing from a dealer of any type. I buy strictly from individuals like yourself who got royally ass raped (but proudly at 0% - LOLOLOL) when they're 2-5 years old for less than half what a new one cost. What folks like you have done to truck prices in this country means I drive the same truck I've had since the late 90's just because I'm not paying what they go for now.

And Geno hits it put of the park!!!


People's just gots to have da newest body style,
The status.

As long as that drives sales, prices will climb.

How many people 25 years into a 30 year mortgage are into their 3rd, 4th, or 5th new car over that time? How many were even remotely wore out at time of trade?
How many have had even more cars, leased?

As long as people run to the dealer because they NEED a NEW car and are
going to only consider a new car. Paying whatever a new car costs.
The price of new cars can continue to go up, radically.

Have found the very best bargains in cars come from buying the last years of the last body style. Especially when that style is 3-4 years+ out of date.
By that time in its production, bugs have been worked out.
Other flaws are known, and their fixes can be factored in.

And ironically, Mr/Mrs Jones will pay more for a car
1 year newer (body style) with higher miles, than the older car sells for
with low miles.

Conspicuous Consumption is one of our big problems.


Tieing that into our discussion, how many of the albatross mortgages are
for needed homes.

4000sqft for a family of 3.2
.
One family member working 3+ weeks a month to serve that house.
And we cry about home prices.




They talk about me being "rich" at work.
Because I have no debt and cash in my wallet, only cash pay checks
every other payday.

Living in a 1050sqft home, average age of our 2 Dodges, 1 Ford, 1 Chevy is
is 16 years old.


Meanwhile they traded a nice vehicle for a new one and their car payment
is way bigger than our mortgage was. On guy had a house payment (30yr)
2 1/2 times ours. Making less than me.(But my Mom doesn't carry us)

Paid mine off about 4 years ago at 50 years old.
Never approached it as an investment. Wanted a place that I would like, so I put a decent house on a nice piece of land in an awesome area.
Have no clue what it's "worth" and don't care.

Not at all.

I bought it two years ago while considering a divorce. I hope to have it payed off in 13 years but at 3.2% interest, and getting more back longterm from my IRA and Roth than what I pay in interest and being a gun whore. 13 years may be optimistic. I look at it as investment and storage unit for toys, and a man retreat. If things went bad it’s nice having a second option two blocks away.

I’d rather have a cabin up north, which was the original plan (our primary home is in her name and 1/2 paid off). At some point I’ll probably sell mine and buy a cabin on land or take a second mortgage to pay for a cabin and rent this one out but I’ve put a lot of time and money in to upgrading this one and hate the idea of renting it.

Yup, Karen and I bought our home when we married at twenty years of age.

We had it paid off by the time we were thirty years old.

We still live in our wonderful home after 57 years.

Blessings,

Steve

Great to hear from you, Steve.

Hope you’re doing better.

🦫

Congrats!

I wish that I had that maturity and wisdom at a young age.

I took the short bus but better to learn slowly than not at all😉

Yep and I don't know what it's worth because I'm not looking to sell. I like it here. Suppose I should find out for insurance purposes. No debt except to Uncle Sam who has his thumb in my eye socket twice a year. Live within your means and everything works itself out.

Ramsey had ought to take all that money he's made since his bankruptcies and get a rib removed. That way he can suck his own cock instead of charging people to do it.

Should be, but i piss away too much money on toys. About got everything i need as far as that goes though. Plan on buckling down and paying it off within the next 2 years or so. About to turn 40. Dont want to have debt my whole life.

I am just about where you are, pay off next summer, except I'm 60.

These rising interest rates are going to fugk folks more than they ever knew this is going to be 2008 x3

It seems that a big key to a paid off house is to avoid acquiring ex wives, no?

Same house and same spouse is what a retiree told me was the key to wealth.

Raised the rent $400 a month on my rental. Interest rates have people hesitant to buy. Last renter moved out this week,....got 4 people lined up to view it tomorrow.

A job that pays well helps some too.

You’re not wrong BUT great life choices never hurt either.

One house and especially one spouse combined with a solid retirement plan is the easy button. I’m sure that you know that.

Pay rent?

I guess I do though I haven't experienced some of it.

The fact of the matter is for the majority of people zero debt is the right answer while for others it is not. We make our choices.

A divorce from even that one spouse can sure be a torpedo hit below the waterline tho.

Paid it off almost 3 years ago. Built in 1993. According to Zillow worth almost 2 1/2 times what we bought it for.

One is and one isn’t. It is relatively rare to own your own home. With a 30 year loan, if one never moved, many more would be paid for. But with every move or refinance, the mortgage thing starts over.

Remember Dave Ramsey is the guru of Joe Sixpack. If your situation is more complicated than that, his advice is not always correct.

Me and the missus are thinkin pretty hard of downgrading the driveway from $8 to $3. Thataway we can spend a little more on new tarps for the roof. Thankfully we can still get the old tires we need to hold it down down at Chuck's Spin and Grin Tire Shop. Lookin forward to the day the T1-11 gives out an we can go straight tarpaper. Tough and looks good too.

We gotta good thing goin here.

And like Gruff said, is the rest of your chit paid off?



Boats, tats, bedroom sets, etc...

I'm in my 30s and we've owned my home for six years now. Its worth about $270,000 and I owe around $70,000 on it. I had a large portion of cash put back I paid initially. The rest, I borrowed in cash from a relative interest-free with a plan to pay it off in ten years which is doable and I've been paying it back in cash as well. Only other payment I have is my pickup truck. Wife's car has been paid for four years now. No credit cards, no boats, no crazy toys or anything other than an old project car and an old project truck that don't eat anything.

If we buckled down, we could pay the house off in a year or so.

Still owe on the boob job and azz enhancement work. The rest is clear.

Paid it off year ago.
It was hard writing a check for 185k. Everyone told me to invest in the market. Bur I suck at it. This way I knew I won’t loose any of it. Nice to be debt feee
At 40
Only problem now is I need more write offs. And no good deals on homes right now. But it’s coming

I just bought a new 6.5 Creedmoor with a Leupy 3x9.... Mastercard says if I make a $50 month payment in 12 years it will be paid off....
I think that was a smart move... a CREEDMOOR... now I can shoot to 1500yds... that's worth something..

Oh and the house.... rotated the roof tires recently, they last forever...

33K left I’ll have that paid in a year and a half( most likely less )30 year mortgage paid in full in14 years. Other than that I’m debt-free :-) I can retire now, making too much money :-) I’ll hang on for a few more years.

Good to see so many Campfire members in good financial shape. Wonder if we are an anomaly or the real norm? Or if the average age member on here has something to to with it?

We paid ours off 8 or 10 years ago when we were in our early 50's.

Unfortunately, .gov charges me $8000.00 per year to live in my own house.

boom , we are actually renting our own hard work, back from the .gov at gunpoint if we were all being honest.
They use the money for programs for people that wont work hard but vote against us at every opportunity.

whats wrong with this equation?

Even if paid for, we are renting from the bastards that make us pay school, property taxes. You quit paying, you won’t be in it long!

This from the guy that worked for a school district and bragged about how much he made? really?

That's my rub with him as well. It's great I guess for folks with no discipline in their spending habits. Also, his plan does not work for rural folk, especially in northern climes. I'd rather carry a little debt and enjoy my life and and my family as long as I can make the payments AND have a light in the tunnel where it'll all be paid off before I die.

I could be free and clear on my house in the prairie. Or I could by carry a heavy note and live where I promised my wife we'd come back to. If money is all a guy cared about I could sell my place now for 3X what I paid and walk away with a pretty good chunk of change and pay off my tractor and truck loans to boot. But I couldn't buy what I have with what I'd get selling it. So I guess to many I'm a sucker. lol

There’s good debt, and there’s bad debt.

My wife and I decided to pay off our house early, despite the advantages of cheap money. The dynamics of our industry drove the decision. Pharmaceutical sales is a fickle business, full of retractions and expansions, so knowing that we held the paper free and clear made operating in the sector much easier.




P

The best siding is sawmill slab over tarpaper. Put the sawdust in the walls for insulation, held in by red rosin paper.

Here’s another ‘Pro Tip’

Retread tires are the best for roofs.

Lol

🦫

This^^ is why I love the campfire... pro tips that will help you excel in life!

As soon as I get my 6.5 dialed, expect me to flood the campfire with hero pic's of trophy critters!

In all seriousness though guys.

To properly address this issue would require a book of info. It's not as simple as paying your house off and staying married to become wealthy.

Do the math you cannot save enough on an average or even good wage to become wealthy.

You need to learn to invest and in doing so use financial "tools" such as loans etc.....

Now if you just want to live a comfortable but relatively simple life, get a good job, a good wife with a good job, buy a house within your means, pay it off, invest in your 401K
and do this for years and chances are good you will meet your goal.

Pharmseller mentioned good debt and bad debt and he is spot on!

A 15/30 fixed home loan @2.5 percent on an appreciating asset would be considered good debt.

A business loan @4.5% that enables a business that cash flows you a very comfortable living is a good debt also.

Also when interest rates are running as hot as they are now, these interest rates are like free money I.E. , Would you want to be a lender getting 2.5% when the inflation is 9%?

The devil is in the details though, you can take both of the examples I pointed out above and turn them into bad debt. For example, you over pay on a house that is above your price range.... you borrow for a business that becomes insolvent etc....

My rule of thumb is no more than 30% debt to value ratio. I prefer 25% and that is where I am at currently (thanks to inflating asset values)

If I was to disclose my debt many of you would laugh at me... but if I disclosed the value of my assets you wouldn't..... so it's not so simple.

Dave Ramsey is full of schit, yet he is more right than wrong. For the average guy that is consumed with his job and keeping the lights on he is spot on.

For others, willing to put in the work, research etc... then act on that with saved money and leveraged money , the world can be your oyster... if you have the balls, risk reward thing.
To declare your way is the best and only way is just foolish.... but it is fun to "flex" on these threads and they never disappoint to entertain.....

SO, if the car dealer offers me 0% interest on a new car I should borrow against my retirement account to buy the car outright instead of going into debt???

Jeebus.

Yeah, fuby. Sometimes debt is good.

Dave Ramsey would scold you for such foolishness.....

I, on the other hand think that's pretty darn smart...

Ramsey uses a one size fits all , cookie cutter approach . That’s why I quit listening to him fifteen years ago. You’re either a dumb ass or you’re not.

Good thing I was taught by nuns

They showed me how to figger that kinda stuff out by 4th grade

Yes Geno, it's a good thing those virtuous nuns made an upstanding citizen out of you.... I would hate to think how things would have turned out if you had been left to your own devices.......

Yes, but by the person that I rent from:)

Mines paid off. I was tempted to borrow against it a year ago when they had 15 year loans about 2.1%. Sometimes I wish I had borrowed at that rate now that it's tripled but I would have probably built spec homes or new rentals with it and paid too much for them. If I'd have borrowed it and kept it in the bank until prices come down it could have been ok.

They were going to loan me 1.1 million without an appraisal id be sick if I'd done it and invested it and lost. But you can't make money without risk. I think the wife was right though when she said you worked too hard to pay it off to borrow against it now. But 2.1% money was incredibly tempting.

Bb

Good post. If I could start life again I'd definitely use other folks money more than I did and I'd would have for sure not married the evil #2.

I don't owe anything for anything I have other than the property tax grift. But I'm old enough that should be the case.

Most of them would be amazed I'm still alive. And not in the hoosegow.

Young boys are suppose to be hellions..... today very few understand that

That's the reason we NEVER own our home.

Not all places have outrageous property tax... although I do buy the argument all property tax is outrageous...
I hear about the tax rates back east and think wtf, why would anyone live there?

youre not a sucker...if you cant enjoy life a little what good is it......bob

I borrowed against my paid off mortgage so my kids could have something and not be looking at carpet bagging Yankees for the rest of my life wishing I had

5G peoples rode the 4 wheeler to the house today begging access to the power poles on new land.Sure thing I’d just gotten the braked 308 set up and target hung ain’t gonna ruin my day 🤷‍♂️🤷‍♂️Power line direct behind me “braked 308s” echo badly in hollers I let off 10 rds.Drug lort neighbor pulls out his AK for sport 5G peoples hauled ass 🤷‍♂️🤷‍♂️

Very well written though 25 - 30% is higher than I prefer.

Well thank you Ed... if I had my way it would be 0% .... but I will get there soon..

I just did a little math and given our small numbers we're at about 15%.

Solid Sam.

Yes. And a few more. Slumlord's my hero. Except for the T-111.

Gonna sell 4. About 80% done giving the first one a face-lift. Going at it 7 days a week for the last 3 weeks. Hardest part is getting skilled labor onsite and moving things forward.

Time to smell the roses more.

I can't wrap my head around all of that. I just paid it off as soon as possible and started living easy again .

I have two houses,...one paid for, the other about 40% paid for. One pays for the other one.

If it ever came down to it I'd dump both of them and live in a van down by the river.

None of it means nothing.

Are you a Freemason?

Just kidding. One of my best guys is, and that's pretty much his outlook.

Yes, out of pocket diy 2007 build on 30 ac. Early 40's at the time.

Nice to be debt free with a nice place and still in your 50's!

Build your house with cash and get back to me bitch

Yep, if I die owing the bank money, don't I win? I've traveled the world over many times. Made more memories and done more cool [bleep] than most people I know. I have the toys I want and the time to enjoy them. Yeah, I've got a mortgage, but over 30 years, my payment stays the same but my salary continues to rise, so the value I pay each month goes down. What might have been a high payment 15 years ago is nothing I even notice now. I'll still continue living large and doing the things I enjoy. My retirement account would pay off my house many times over. My home is currently worth 3 times what I bought it for. I ain't worried or scared of debt. I can afford it. Let others work multiple jobs and OT while they're young just to brag about what they paid for. When they are older they can look back fondly on all those cool work stories they have. I'm 51 and have met every life goal I had, save for climbing Kilimanjaro.

I'm also not worried about what I have to pass to my children. By the time I die, they've already figured out how to sink or swim on their own. I don't have to pass wealth to them, any more than my parents having to pass wealth to me. My parents are in their 70s and I hope they spend every last dime they have enjoying life while they can.

Dave Ramsey got rich suckering others into paying him for his advise.

I forgot to mention that my wife is self employed ... she does athletic training. Not a big money maker but a GREAT second income to our family.... she has been doing it since college.... we used to rent a large building in town for quite a few years, when we refinanced into the 15 year at 2.1% we built a big shop at home and now she works from home so what she used to pay in rent now pays for our house AND her building.... I just hope I'm around in 10-15 years so I can peacock around here telling everyone I'm DEBT FREE lol.

Original loan was $45k at 7%. 1993. Paid it off about 98. Then built 24x40 garage, $17k. 2002 put addition on house 20x40 $25k. on the $87k investment todays sale value is about $350k Counting inflation since 2002, 20 years. about 40% of the $350 Roughly $140k is Government over spending.

Doesn’t sound like bragging to me. Just stating the fact you did it the right way. Some folks will see your post as an inspiration while others will be envious and start spouting excuses why they can’t get off their ass and do the same. Congratulations sir! The fact you included being proud of your wife further points to your being a wise man.

Yeah, it supposedly is paid for - but, if it is, why do we get a billing and requirement to pay a sizeable sum to the county every year - forever?

It means you don’t owe a financial institution. You’ll always owe Uncle Sugar.

Mine has been paid off for about18 years. Nice not to have that mortgage oayment.

As a GC my world is or can be up and down as well.
I have More work than I know what to do with right now, and Even I though I survived 08-10 housing market Crash. I don’t want to put my self in a situation where I could loose my house.
In 2010. I walked away from my house/ foreclosure. I Was about 350 into it. Sold, Short sale for 115. Banks would not work with me. All the adjust my loan BS out there was no help.
Not that I could t afford my mortgage, but the higher interest rates in 2008, it was not worth it for me in the long run to pay mortgage on something 3 times the price.
Now I’m debt free, waiting for another down turn to buy homes.

Just when you think you own it free and clear, the tax assessor sends you your annual bill reminding you that the government will crush your ideas about real estate ownership.

Dave Ramsey has excellent advice for settling debts. But the good growth stock mutual fund thing is crap. Different people have different notions of what wealthy is. I don’t see how Ramsey can come up with a plan to earn 300k/year Passive tax free. Or accumulate $7-10 million in assets. You will never save your way to that kind of wealth. Ramsey can’t get you there.

Well the key is to not pull equity out of your house on a refinance.
I paid 180k 30 yrs ago, paid it off. It is worth about 700k today, but in CA the 10% interest rates is killing housing sales. Who can afford a 650k mortgage at 10%?