Originally Posted by emmett442
As of today, we did it. Completely debt free.
We paid it off in a little less than 6 years. She is 34 years old, I'm 35. Saved approximately $100k in interest and, with no home, auto, credit card, or other debt, have allowed ourselves some pretty sizeable cash flow and thus a huge amount of financial flexibility. Literally, all I need is to pay now is property taxes, insurance, and keep the lights on and fridge full. Will really come in handy as the kids get older or if we ever fall on hard times.
I know this is can be a hot topic with no right or wrong answers. Many hem and haw over it, like I did myself for a while. For those who are considering this path or who are on this path: We've no regrets.
Congratulations on your accomplishments!!!
Did you analyze the opportunity cost you incurred by choosing to go this route?
And did you use that opportunity cost analysis as part of your decision making process?
As of today, we did it. Completely debt free.
We paid it off in a little less than 6 years. She is 34 years old, I'm 35. Saved approximately $100k in interest and, with no home, auto, credit card, or other debt, have allowed ourselves some pretty sizeable cash flow and thus a huge amount of financial flexibility. Literally, all I need is to pay now is property taxes, insurance, and keep the lights on and fridge full. Will really come in handy as the kids get older or if we ever fall on hard times.
I know this is can be a hot topic with no right or wrong answers. Many hem and haw over it, like I did myself for a while. For those who are considering this path or who are on this path: We've no regrets.
Congratulations on your accomplishments!!!
Did you analyze the opportunity cost you incurred by choosing to go this route?
And did you use that opportunity cost analysis as part of your decision making process?