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Thread: I'm debt free :)

  1. #1
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    I'm debt free :)

    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. 😜

  2. #2
    Senior Member flowerseverywhere's Avatar
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    Fabulous. Be proud that you get it. Enjoy life

  3. #3
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    Congratulations on being debt free!
    Are your states pensions, fully funded, or does it have issues like Michigan?

  4. #4
    Senior Member iris lilies's Avatar
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    Yay! Sing it sister!

  5. #5
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    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.

  6. #6
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    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.

  7. #7
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    Quote Originally Posted by Tammy View Post
    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!

  8. #8
    Senior Member rosarugosa's Avatar
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    That's great news, Tammy, good for you!

  9. #9
    Senior Member razz's Avatar
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    That is a wonderful burden to unload from one's shoulders. Well done!
    Gandhi: Happiness is when what you think, what you say and what you do are in harmony .

  10. #10
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    WELCOME to the club Good job!

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