Caribou Gear

Sound Off - 100% Debt Free

Northwoods said:
I’ll be debt free the day that I die but congrats to Gunner46 and the rest of you that are debt free. As long as my assets are worth more than I owe, I’ll continue to enjoy a day off and a cold IPA.
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I used to be debt free, then I graduated high school. My plan is to finish the ride at break even or owing a couple bucks, keeping the life insurance paid up in case the ride hits an unexpected detour. To each his own, but I wanna live a little and enjoy the moment, plus Ramsey's beans & rice makes me more flatulent than usual...
 
I'll add, so far we got our oldest out of college debt free. Since starting her full time job after graduation she's started her 401k, started savings. She just bought a 2nd vehicle for cash. She's saving for her first debt though, but unless there is an ideal situation, she'll be waiting about 3-5 years before diving into the mortgage pool.
 
Retired 6 years ago at the ripe old age of 48. Paid the house off last July. Both my trucks and all my toys are paid for. Wife wanted a new car and a new toyhauler so we have those payments but they should be paid for shortly. There's something to be said for busting your ass early while raising the family so you can enjoy it before it's too late!
 
We are debt free. I have one kid still in college but it is already paid for. I'm 52, my wife is 53. Currently live in Massachusetts but our goal is to retire in five years and move to Montana, somewhere outside of Bozeman. We will take the cash from the sale of our house and our small condo at a nearby ski resort and build a home out there so we stay debt free. We want at least 20 acres of land and a small 1,800 foot house that is super efficient; basically free of any utility costs. We want to live out our lives gardening, hunting and fishing.

Be smart, don't by crap you do not need and make sure you have a small mortgage. Keep your eye on the prize and you can call it quits at a reasonable age....... I hope :) Pete
 
brushcreek said:
We are debt free except for our mortgage. Have a 15 year note that will be paid off in 2027 if we don't pay it off early. Will be debt free at 49 if not a few years earlier.
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Another Arkie native here that is debt free. Off 6 months of the year, gives me lot's of opportunities to pursue favorite hobbies and make plenty of tours of the west, of which I really love, especially when the aspens turn.
 
noharleyyet said:
Debt free is a myth....taxes, insurance, and someone to edge the headstone.
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Usually steer clear of these types but how often does one get to be more literate than harley??? You are confusing "debt free" with "expense free". Modern life will always have expenses but with determination you can easily be debt free. It is not about how much you make, it's about how much you spend. Been debt free for 20+ years, before dave ramsey made it "cool" and scream worthy.
 
Me and the wife paid off our mortgage early at the age of 49, 10 years ago, never had any other debt, never had any help from our families, never asked for it.
Shortly after I got a redundancy payout from the telecoms firm I had worked for for over 30 years, very timely!
It was a great day when we poked 2 fingers at the bank, they even tried to charge us a penalty for paying it off early, they tried!
Cheers
Richard
 
was dept free at the age of 24,car,house,rifle
worst thing i did,should of kept buying more houses with ops money,at which rate i could afford to travel the world hunting
bit of juggling and ill be out for an eastern and mid caucasian tur next yr on my 70 th
so shows that one can never have enough money
 
squirrel said:
Usually steer clear of these types but how often does one get to be more literate than harley??? You are confusing "debt free" with "expense free". Modern life will always have expenses but with determination you can easily be debt free. It is not about how much you make, it's about how much you spend. Been debt free for 20+ years, before dave ramsey made it "cool" and scream worthy.
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...sorry grasshopper but mandatory expenses are debts. Think of your estate as a company. Of course zero balances on loans, credit cards (redundant expensive loans)..etc mitigate financial health, but on the grid is never debt free. You are correct about headstone edging's optional expense classification.;)


*Accounts Payable include all of the expenses that a business has incurred but has not yet paid. This account is recorded as a liability on the Balance Sheet as it is a debt owed by the company.
 
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Our house will be paid off in the next few years and then it's just your typical monthly expenses (cell phone bills, internet, insurance, etc.). Like many have mentioned on this thread, it's just a matter of controlling your spending.
 
noharleyyet said:
...sorry grasshopper but mandatory expenses are debts. Think of your estate as a company. Of course zero balances on loans, credit cards (redundant expensive loans)..etc mitigate financial health, but on the grid is never debt free. You are correct about headstone edging's optional expense classification.;)


*Accounts Payable include all of the expenses that a business has incurred but has not yet paid. This account is recorded as a liability on the Balance Sheet as it is a debt owed by the company.
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well... Until you can produce a cute meme that proves that i'm going to define it as I wish... but now must go and feed my (paid for) hay to my debt free llamas... whilst most are out generating income to pay off my estates debts...
 
squirrel said:
well... Until you can produce a cute meme that proves that i'm going to define it as I wish... but now must go and feed my (paid for) hay to my debt free llamas... whilst most are out generating income to pay off my estates debts...
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By all means...and don't forget to refresh your location scrambler and count your barter stash.
 
noharleyyet said:
...sorry grasshopper but mandatory expenses are debts. Think of your estate as a company. Of course zero balances on loans, credit cards (redundant expensive loans)..etc mitigate financial health, but on the grid is never debt free. You are correct about headstone edging's optional expense classification.;)


*Accounts Payable include all of the expenses that a business has incurred but has not yet paid. This account is recorded as a liability on the Balance Sheet as it is a debt owed by the company.
Click to expand...

Property taxes, car insurance, home insurance, electricity, wifi, phone, govt taxes ( for those that work ) Cremation eliminates the headstone trimming, as well as buying a burial plot of land somewhere ---but except for things like this we are debt free.

It surprises me how many grown children are staying in their parents home, some even after marriage . Maybe this is just a Canadian thing. Personally, as soon as I left for college, I never lived at home again, but several people I know do. grown adults, some with children, are still living with their parents. Going back to the divorce thread, some go back home when a divorce happens.

We also have entertained going into debt to buy rental property, letting the rent pay off the property, so at some point, after the debt is paid we would have additional revenue, as well as possibly selling the unit when we are older and retire someplace warm :)
 
Pucky Freak said:
Just checked my mortgage payoff amount, and it is $72.49 less than the latest chunk of change I have to throw at it. I’ll see if I can dig up my promissory note to burn on Monday!
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Congrats on that! I’m jealous! We just have our house and my wife’s half of our student loans left (fancy expensive degree). Can’t wait for the day those are gone!
 
Started a new list...'s
The AD.
Advanced Directives. Have a video talk with that nurse on Thurs., need to get cremation info from her.
Looking for a NM lawyer to write the will.

The Trucks.
Get them both back in tip-top shape.
Ford goes for body repair Tues.
Tacoma goes with mechanic next weekend to his shop. New suspension.

The Ranch.
Get porches finished.
Get new culverts under road in and rock the loop on my place.
Back-up generator and propane tank for it.
Drop off shop.
Habitat cages built.

Seems I have a clock running. In my head.
Doc's gave me 2-20 years. I'm 18 months in...

Seems spending quality time with my Aunt and Uncle paid off. Not that a payment was ever needed.
I have a pile of pictures to go through, letters and books to read. Artwork to display. Memories of good lives.

Was talking with her last May, asking advice still. The AD.
She said "Stay positive and move forward."
She died in her sleep 2 days later.

I have no mortgage, no cards, no debt.
Except monthly stuff, electricity. Useless insurance...lol. Pills.
Dog food.

As close as I ever thought to be 100% debt free...and a legacy to carry on.
"The Greater Los Angeles Drinking and Fighting Club" lives on.
 
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