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Boundary Waters Quetico Forum Listening Point - General Discussion Mortgage paid in full :) |
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09/27/2017 05:47AM
I got home from work yesterday and the bride told me she had some great news. She is the financial wizard in our house and told me she had paid off our debt. Finances are something I don't pay much attention to being hitched to a smart money planner.
Needless to say, when I told her now was the time to get my Savage River solo canoe, she just chuckled and said, "I don't think so, hon".
She is also wise on how I spend it!
Needless to say, when I told her now was the time to get my Savage River solo canoe, she just chuckled and said, "I don't think so, hon".
She is also wise on how I spend it!
09/27/2017 05:55AM
Congats! The borrower is slave to the lender but now you are free! Seems to me the new canoe would be an appropriate way to celebrate ;-)
I am swallowing hard and after being out of all debt for a long time I am pulling the trigger on a new car for the Missus. Dave Ramsey would not approve!
I am swallowing hard and after being out of all debt for a long time I am pulling the trigger on a new car for the Missus. Dave Ramsey would not approve!
Lets Go!
09/27/2017 07:44AM
Congratulations! I too feel a new canoe is the appropriate way to celebrate the occasion? Heck, a new canoe's the appropriate way to celebrate ANY occasion (LOL)!
"Let us live so that when we come to die even the undertaker will be sorry." Mark Twain
09/27/2017 10:15AM
quote mastertangler: "I am swallowing hard and after being out of all debt for a long time I am pulling the trigger on a new car for the Missus. Dave Ramsey would not approve! "
Dave would approve if you saved up the cash for it.
09/27/2017 11:08AM
Indeed Dave would approve if I saved up the cash. He's a smart guy, I like him.
Speaking of Dave Ramsey bwcasolo, his saying is that the paid of home mortgage is the "status symbol of choice" (or something to that effect).
Speaking of Dave Ramsey bwcasolo, his saying is that the paid of home mortgage is the "status symbol of choice" (or something to that effect).
Lets Go!
09/27/2017 12:26PM
Congratulations on a smart wife and retiring the debt. My smart wife got our debt paid off a couple of years ago or so. Few better feelings anywhere. You might sell the canoe idea if you "decided" to go for a used model. As a money wizard, she "should" go for that.
the greatest come backs are reserved for those with the greatest deficits.
09/27/2017 03:46PM
quote awbrown: "Buy the canoe. It's easier to ask for forgiveness than to ask for permission. Lol"
Amen. Using that approach for my next puppie. "Surprise!"
"I don't think so, Hon." Heard that one enough to know better.
One more cast... 'Adopt the pace of nature: her secret is patience' R.W. Emerson
09/27/2017 04:06PM
We paid off our original home in 2006 after two sets of renters had occupied it for the last 23 years. Our second home was paid off in 2008, after we had lived in it 32 years. For the last 10 years we have not had to make payments on a car, either. Our savings were increasing by bounds, despite both of us being retired.
Now, because of the existence of grandkids in a different location, we have a brand new mortgage (We wanted to buy the new house before selling the old one because of the need to go through and pick among 32 years of accumulation. We did not want to be rushed in our move).
We are also making payments on a newish car.
I had told my wife, "We have it made in the shade. Why would we want to move?" "We want to get to know them before they reach their mid-teens," says she.
So, don't assume monthly payments are a thing of the past. There are some long range decisions ahead that you may not be able to plan for.
Now, because of the existence of grandkids in a different location, we have a brand new mortgage (We wanted to buy the new house before selling the old one because of the need to go through and pick among 32 years of accumulation. We did not want to be rushed in our move).
We are also making payments on a newish car.
I had told my wife, "We have it made in the shade. Why would we want to move?" "We want to get to know them before they reach their mid-teens," says she.
So, don't assume monthly payments are a thing of the past. There are some long range decisions ahead that you may not be able to plan for.
The business of life is the acquisition of memories. In the end that's all there is. ___Mr Carson (Downton Abby)
09/27/2017 07:45PM
I have been without debt for several years. It gives me a feeling of peace.
I came through the financial crisis of the last few years pretty well, but enough people I know weren't as fortunate. It taught me how quickly things can change.
Despite having no debt I have chosen to buy used canoes. There are just fine and I don't have to worry about the first scratch. I hope I never have debt again.
I came through the financial crisis of the last few years pretty well, but enough people I know weren't as fortunate. It taught me how quickly things can change.
Despite having no debt I have chosen to buy used canoes. There are just fine and I don't have to worry about the first scratch. I hope I never have debt again.
09/27/2017 07:49PM
Way to go, Curt (and Mrs. Curt). :) Hope you go out and celebrate.
"Keep close to Nature's heart, yourself; and break clear away, once in a while, and climb a mountain or spend a week in the woods. Wash your spirit clean." ~ John Muir
09/28/2017 07:33AM
Mortgage paid off just in time for kids to enter college! Fortunately, due to their generous scholarships and our contributions, they will likely finish their degrees almost debt-free. Cash always finds a way to outflow...
“Growth for the sake of growth is the ideology of the cancer cell.” -Edward Abbey
09/28/2017 01:00PM
Congrats,
I paid off my home 1.5 years ago, then bought a new canoe. Doctor Dave Ramsey gave me a lot of good advice that I always use today.
Live like no one else today (frugal) so you can live like no one else tomorrow (well off and debt free).
I paid off my home 1.5 years ago, then bought a new canoe. Doctor Dave Ramsey gave me a lot of good advice that I always use today.
Live like no one else today (frugal) so you can live like no one else tomorrow (well off and debt free).
May the rivers be crooked and winding, and your portages lonesome, leading to the most amazing view.
09/28/2017 08:26PM
quote 4keys: "Congrats! It is a great feeling we have enjoyed for a few years. Unfortunately we have 3 vehicles that will need replacing all about the same time- 192000 , 185000, and 143000 miles. "
Oh come on 4Keys, they are just getting broke in ;-)
My Tundra has over 325 K on it and is still going strong with no problems. I had considered getting some new bumpers and repainting it but then I would be putting into it more than its worth. Saturday I ink a "deal" for a new car which is some serious debt, at least for me........41K (you used to be able to buy a house for that LOL)
But she is worth it, she lets me go fishing for a month at a time ;-)
Dave Ramsey would probably be OK.........excellent credit gets me 0% for 60 months. Yea, I will go for that.
Lets Go!
09/28/2017 09:29PM
Congrats!
We've only got 9 years and 3 months left. Not that we're counting. Luckily, we bought at near the bottom of a bear market in interest rates that made it very easy to buy a house (alas, the interest on the mortgage is so low we don't even exceed our standard deductions for income taxes...seems almost unAmerican). How my parents, buying in the early 80's, made it work, I have no idea. How did any of y'all buy a house back then?!? 15% mortgages...eegads!
We've only got 9 years and 3 months left. Not that we're counting. Luckily, we bought at near the bottom of a bear market in interest rates that made it very easy to buy a house (alas, the interest on the mortgage is so low we don't even exceed our standard deductions for income taxes...seems almost unAmerican). How my parents, buying in the early 80's, made it work, I have no idea. How did any of y'all buy a house back then?!? 15% mortgages...eegads!
10/02/2017 03:29PM
A real man would buy the canoe and when she asks where you got the money for it tell her it's all those years of mortgage interest deductions that paid for it. If she gives you any guff, simply stamp your right foot down hard and say "I have spoken" in a booming voice. (You might buy a tent, too..)
10/02/2017 04:39PM
quote : "A real man would buy the canoe and when she asks where you got the money for it tell her it's all those years of mortgage interest deductions that paid for it. If she gives you any guff, simply stamp your right foot down hard and say "I have spoken" in a booming voice. (You might buy a tent, too..)"
Finally, a man after my own heart. A fellow has to put the woman in her proper place. After many years of training I have my wife to the point that she talks to me on her hands and knees > "Get out from underneath that bed you coward and fight like a man" ;-)
Lets Go!
10/03/2017 11:56AM
quote : "Ironically, most of my friends that have paid their mortgages off the earliest are for the most part SINGLE. Figure that one out.."
It can be a lot cheaper, generally, to be single!
aka HermitThrush "Such sights as this are reserved for those who will suffer to behold them." -Eric Sevareid
10/03/2017 12:12PM
My mortgage does not worry me in the least. I pay the bank around 4.25% and deduct the interest and taxes on my income tax. Meanwhile I invest the money I would have used to pay off the house to make 10-12% annually with my investments most of which are tax deferred.
10/04/2017 11:11AM
quote missmolly: "Impressive feat, Mike.
Salukiguy, if the market becomes a bear and you lose your mortgage deduction, will it concern you?"
Yes, that would suck.
I don't think the mortgage deduction will go away any time soon though. This is a very popular deduction and the Real Estate Lobby will give Congressmen enough money that it will stay.
10/04/2017 02:52PM
quote muddyfeet: "Whenever there is talk of a possible new canoe, I find it helpful to refer to this chart:
"
I see clearly now that I have been using a totally faulty analytical structure while debating buying a tandem canoe.
One cannot argue with plain logic.
LNT - The road to success is always under construction. http://hikingillinois.blogspot.com/
10/04/2017 08:26PM
quote jcavenagh: "quote muddyfeet: "Whenever there is talk of a possible new canoe, I find it helpful to refer to this chart:
"
I see clearly now that I have been using a totally faulty analytical structure while debating buying a tandem canoe.
One cannot argue with plain logic."
That's classic!
I can be followed on Instagram @queticomike
10/04/2017 09:25PM
Quetico Mike,
Awesome pic. You have the "James Dean" look standing next to your Chevy. I really like old vintage cars from 60's and 70's.
I had a 65 Chevy and a 66 MGB. My best friend and I ran around in his 68 GTO 400 convertible and my brothers 68 Chevelle 396. Man those were the days. My bud has a 1969 Camaro Indianapolis Pace Car Big Block convertible that is white with orange stripe ... on blocks sitting in his garage waiting to get restored. Can't wait for the day when he fired up that old muscle car.
10/05/2017 08:51AM
That was always my Halloween costume, James Dean. People would say why didn't you dress up for the holiday, and then I have to tell them that I'm James Dean. :) Always been a big James Dean fan. I still wear the white T shirt and jeans on Friday nights when I go out. One bar I went to back in the day wouldn't let me in because I didn't have a collared shirt on. I told the doorman if James Dean came up to this place and wanted in are going to turn him away. The guy just looked at me for a few second and then said go on in.
I can be followed on Instagram @queticomike
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