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Officially Debt Free Today

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Just made my last payment on a huge assessment levy on my property a few minutes ago, and am finally free of debt burden and interest payments. House, small business, property, vehicles....all clear. Am worn out, aged beyond my years, losing whats left of my grey hair, flat arse broke, credit rating tore up, and the business is in shambles....but am finally debt free. Hey, did I mention I am debt free grin

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So what big purchase are you going to make next? Time's ticking, gotta keep our economy moving you know!

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Suppose your right. Maybe should invest in a mid life crisis, where I can get a fancy sports car, hair plugs and dye, gold eagle chain, and trade in my 49 year old model for a 30 something one.....at least it wouldn't be going through menopause. Have fun while ya can young fellars....thats some crazy stuff!!!

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Congratulations! I tried to talk my wife into paying off the house but I didn't get anywhere.

If you have one of those 30 year fixed mortgages at 3 percent I'm on her side.

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Thanks for coming to my party Del grin Yep, there are a few ways to looks at it. Could have reinvested and gained more...but could have also not gained more and still be saddled with debt. My magic fortune ball was unclear, so opted for this.....

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Thanks for coming to my party Del grin Yep, there are a few ways to looks at it. Could have reinvested and gained more...but could have also not gained more and still be saddled with debt. My fortune ball was unclear, so opted for this.....

Peace of mind is worth a lot. And assessments usually have interest rates that are high by today's standards, so that can be a good thing to pay off.

On the other hand,...

Having debt at a low cost also feels different if you have plenty of assets that could pay it off that are making more than the rate on the loan. That's how many of those rich guys got rich.

(I paid my house off some years ago, but I had an 8% mortgage)

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Lol...got that one covered though. After quarterly corporate, state, city, sales, Fica and unemployment for the employees.....there is nothing left to tax grin

Edit: Forgot about use tax...got to love that one!

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I'm jealous dude. I'm getting there but not quite. I still make a monthly payment for my little house on the prairie. Some day....................

BTW- grey hair falling out isn't that bad. Chicks dig the bald man.

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Way to go. It's a great feeling. My wife just bought living room furniture she didn't have the money for and I told her it is totally her debt. My plan is to never owe anyone money again. So far, so good.

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Congrats!

I love the 'you lost your tax break' comments. Really, Pay a dollar in interest, write it off on your return. It reduces your income, it is not a credit, so you spend a dollar to save 35 cents (assuming you are paying 35% out in taxes)

It is a great feeling to wake up in the middle of the night and know you own what you have.

Oh and does your credit rating matter if you do not need to borrow money? laugh2c

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Congrats PB must be great knowing that.

All you owe is TAXES, but that debt can wait grin

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Dont forget that if you fail to pay your property taxes, they'll take your house.

Unfortunately, you dont own that house, just renting from the government.

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