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Tammy
9-25-16, 10:58pm
In 1991 my SO and I owed no one anything. Our net worth was only a few thousand dollars - but we had no debt.

Then for 25 years we had various loans and debts. Houses, cars, college loans, and other things that happen while raising 3 kids. We also started IRAs and such so we were building wealth - but still always had a few loans for various things.

Now once again we owe no one anything - the first time in 25 years! But this time our net worth is well over 200,000.

It feels good.

And now I'm thinking about building wealth for retirement. I fell into a job with a state pension about 6 years ago. So I would be ok even if I didn't plan my own retirement. But I'm still doing it as I like a multipronged plan. I guess I really don't trust people to keep pension promises. 😄

So ...

1. It feels good
2. It feels different

I'm thinking about how to keep my money secure. So I'm still thinking about money. 😜

flowerseverywhere
9-25-16, 11:24pm
Fabulous. Be proud that you get it. Enjoy life

ToomuchStuff
9-26-16, 12:12am
Congratulations on being debt free!
Are your states pensions, fully funded, or does it have issues like Michigan?

iris lilies
9-26-16, 12:15am
Yay! Sing it sister!

Tammy
9-26-16, 1:20am
They seem to be ok in Arizona. Some changes were made to keep it solvent that made it less beneficial for those hired after July 2011. I hired in during 2010.

Tammy
9-26-16, 1:22am
I have a four legged retirement plan: IRAs, pension, social security, 1/4 of an Ohio farm inheritance someday. If two don't work out, I figure I'm still ok.

Tybee
9-26-16, 4:58am
I have a four legged retirement plan: IRAs, pension, social security, 1/4 of an Ohio farm inheritance someday. If two don't work out, I figure I'm still ok.

Hooray on the debt free status, and that plan sounds very solid!

rosarugosa
9-26-16, 5:41am
That's great news, Tammy, good for you!

razz
9-26-16, 5:59am
That is a wonderful burden to unload from one's shoulders. Well done!

Gardnr
9-26-16, 7:42am
WELCOME to the club:cool::) Good job!

catherine
9-26-16, 9:04am
Congratulations, Tammy!!! That is truly wonderful!

Float On
9-26-16, 11:58am
Congratulations!!

JaneV2.0
9-26-16, 12:02pm
Yay for a sturdy, debt-free retirement plan! Congratulations.

Tammy
9-26-16, 12:33pm
It still feels odd. I've never fully mentally adjusted from the early 90s when our family of 5 lived on about 20,000 a year with no insurance. I still think this last 15 years of plenty is temporary. 😄

Teacher Terry
9-26-16, 2:09pm
That is great!!

Tenngal
9-27-16, 10:01am
congratulations, I will always remember the day we paid off our mortgage.

Selah
9-27-16, 11:43am
Congratulations, Tammy! I'm thrilled for you! Seriously, well done! Enjoy your well-earned freedom! :)

Tammy
9-27-16, 2:03pm
I never thought I'd be in this place if you asked me in the year 2000. Some of it was being in the right get place at the right time. A lot of it was hard work.

jp1
9-29-16, 7:47pm
That's awesome! Congratulations.

freshstart
9-29-16, 8:36pm
I'm sure it was a lot of hard work, well done!

Paige
10-31-16, 1:10am
Congratulations. Also, be sure to double check how much your pension will be. Sometimes it is not very much. You may want to keep putting money away...like a Roth IRA...

Tammy
10-31-16, 1:24am
I'm maxing out my Roth.

awakenedsoul
10-31-16, 8:24pm
Congratulations Tammy. That's fantastic news. You sound very prepared for your future.

Tussiemussies
11-1-16, 8:29am
It must feel like such a relief to be in the good position you are in now! Good for you!

Greg44
12-7-16, 6:18pm
We never carried credit card debt - until the "great recession" my income (commission based) dropped in half. Then some unexpected expenses - last minute flight when
daughter had emergency surgery, computer died, wedding, major car repair, just when we were making serious progress - something else would happen. :-( It seemed like we went from never carrying any balance - we suddenly had thousands on that Costco American Express account.

We always could have taken the $$ out of savings, but it is so hard to get it back in, I just didn't want to go that route. Now we are ALMOST there - it will probably be in the
spring, but we are not adding to the balance and making small gains each month. Winter time is a slow time at work and hence smaller pay checks, but there is a light at the end of the tunnel. It is our last debt, no mortgage, no car payments, etc. :-) I am really tempted to just transfer the $$ from savings, but the joy I don't think will be as sweet!

catherine
12-7-16, 6:59pm
Congratulations!!!

ToomuchStuff
12-8-16, 11:51am
I am really tempted to just transfer the $$ from savings, but the joy I don't think will be as sweet!

Might be sweeter when you compare the interest your receiving, verses the interest your paying. Then you still have that monthly bill, but more of it goes to you.

Tybee
12-8-16, 4:35pm
Might be sweeter when you compare the interest your receiving, verses the interest your paying. Then you still have that monthly bill, but more of it goes to you.

Maybe not as joyful, but the peace of mind is tremendous. I have done that, wiped out debt with savings. It sort of levels the playing field. I know everybody has a different take on this question.

freshstart
12-8-16, 6:43pm
congratulations, Tammy!

Gardnr
3-11-17, 9:27am
So Tammy, it's been a few months. How are you feeling? How has life changed for you?

inquiring minds want to know (and compare to my own nondebtedness life:~)

Tammy
3-11-17, 9:32am
I no longer think about little things in my budget cause I have several thousand that has accumulated in the checking account. So it's not a concern if there's a balance to cover things if I pay a big bill a few days before payday.

Now I'm thinking about index funds for some of that balance.