Author Topic: Debt free day - NGC (Read 5600 times)

geoff in almonte · « **on:** November 20, 2015, 04:24:01 PM »

Today.

Paid off the mortgage - no other debts.

Time for a celebratory hit of Highland Park (18yo single malt) and a deep sigh of relief.

Maybe even send out for a pizza!

Cheers!

G

Aaron D. · « **Reply #1 on:** November 20, 2015, 05:07:31 PM »

Good for you!

radguzzi · « **Reply #2 on:** November 20, 2015, 05:45:32 PM »

Congratulations Geoff...

That is a great feeling.

egschade · « **Reply #3 on:** November 20, 2015, 05:54:07 PM »

Congratulations sir! Hope to be in your shoes in the next couple years.

You going to buy that pizza with your credit card?

Wildguzzi.com · « **Reply #3 on:** November 20, 2015, 05:54:07 PM »

Bonafide Bob · « **Reply #4 on:** November 20, 2015, 05:54:37 PM »

Congrats, paying off mortgage is a great thing.

Perazzimx14 · « **Reply #5 on:** November 20, 2015, 06:07:20 PM »

Wrote the last check for our mortgage October 2014 several days before my 41st birthday. It was a hell of a feeling shedding that burden. Went into work the following Monday and maxed out my 401K contributions and started an additional ROTH. I actually now have a bit less cash now but if all goes well when I'm 54 I will be bidding the daily grind farewell.

Once your house I paid for it really takes a ton of pressure off your shoulders. GOOD ON YOU and enjoy

RinkRat II · « **Reply #6 on:** November 20, 2015, 06:21:55 PM »

Congrats,Geoff, now those chores around the house won't seem so bad knowing your doing them for yourself and not the mortgage company

Paul

AJ Huff · « **Reply #7 on:** November 20, 2015, 09:06:54 PM »

Wow! I can't even imagine.

-AJ

Randown · « **Reply #8 on:** November 20, 2015, 09:54:47 PM »

We have a non-conformist in Almonte sector. Apprehend for re-education.

Put that equity to work against you now - new cars every 3 years, toys, maybe a new wardrobe & some regular fine dining. You home is your own private atm - use it! Being a debt slave has its perks.

Sasquatch Jim · « **Reply #9 on:** November 20, 2015, 11:22:45 PM »

I paid off all my debts and cut up my cards back in 91. It not only feels good, it's like getting a 25% Raise in pay.
I figure that was how much of my income went to pay interest. Some folks probably waste 45 or 40 percent of their income on interest on mortgage, auto loan and other credit purchases.
Foolishness I say, to pay others for the use of my own money. I had to tighten my belt a bunch to achieve it, but
once done it's smoother sailing. Now the amount I used to pay in interest, I pay into savings to squander on useless things like motorcycles.

nick949 · « **Reply #10 on:** November 21, 2015, 06:18:57 AM »

Good one Geoff. I can't wait for that day here. Enjoy it.

Nick

Gliderjohn · « **Reply #11 on:** November 21, 2015, 07:28:05 AM »

We had everything paid off ten years ago the year I turned 50. Great feeling. Nice just dealing with the usual monthly bills.
GliderJohn

Dean Rose · « **Reply #12 on:** November 21, 2015, 07:50:07 AM »

Quote from: gliderjohn on November 21, 2015, 07:28:05 AM

Nice just dealing with the usual monthly bills.
GliderJohn

:1:

Dean

John Ulrich · « **Reply #13 on:** November 21, 2015, 09:10:01 AM »

I bet you sleep better.

Gliderjohn · « **Reply #14 on:** November 21, 2015, 09:18:54 AM »

The only depressing part is insurance and taxes cost more a month now than what my first house payment was.
GliderJohn

80CX100 · « **Reply #15 on:** November 21, 2015, 09:20:57 AM »

Congrats,,http://wildguzzi.com/forum/Smileys/default/bow.gif, nice to hear Geoff,,, I've been mortgage free a couple of times in my life,,, looking forward to getting there again some day. Hopefully our paths will cross in our travels,, I'm not too far from you as the crow flies, just off Kinburn side rd.

take care, Kelly

Attackpug · « **Reply #16 on:** November 21, 2015, 09:29:23 AM »

We will be debt free next summer, then time for a new bike if I don't have a little debt I get lazy

56Pan · « **Reply #17 on:** November 21, 2015, 09:32:10 AM »

Way better than just a good feeling. Was like being let out of prison. I really don't like being in debt. Wish I could instill that hatred of debt into both my boys.

Gold is the money of kings.
Silver is the money of gentlemen.
Barter is the money of peasants.
But debt is the money of slaves.

56Pan · « **Reply #18 on:** November 21, 2015, 09:35:22 AM »

Quote from: gliderjohn on November 21, 2015, 09:18:54 AM

The only depressing part is insurance and taxes cost more a month now than what my first house payment was.
GliderJohn

I see you live in KS John. Property taxes are that bad there? Surprises me.

lucydad · « **Reply #19 on:** November 21, 2015, 10:27:13 AM »

Excellent!

MGPilot · « **Reply #20 on:** November 21, 2015, 10:34:19 AM »

Congratulations!

Our accountant gave me the usual tax benefit argument, but that's a simplistic view. There's a lot of security and freedom in not owing money. Was a big relief for me.

Orange Guzzi · « **Reply #21 on:** November 21, 2015, 11:12:13 AM »

Quote from: Randown on November 20, 2015, 09:54:47 PM

We have a non-conformist in Almonte sector. Apprehend for re-education.

Put that equity to work against you now - new cars every 3 years, toys, maybe a new wardrobe & some regular fine dining. You home is your own private atm - use it! Being a debt slave has its perks.

I agree with this to a point. Fortunately I have a mortgage with a very low interest rate 2-5/8 fixed. The average cost over the life of my 15 year mortgage is less than $300 per month. $10 per day to live in my home, cheap. I did not have to save for years while living in an apartment or take money out of my retirement plan or do with out. The balance of my payment goes to principle and the appreciation since I purchased has exceeded my total interested payment. My mortgage is a good investment for the family. No complaints about monthly payments and the liquidity it has left me works. I can't take the dry wall to the grocery store and buy a loaf of bread. I get the full benefit of my home with out paying full price. I take that deal any day. No payment would be nice also though. Not much longer.

Gliderjohn · « **Reply #22 on:** November 21, 2015, 12:32:51 PM »

Quote from 56Pan:

Quote

I see you live in KS John. Property taxes are that bad there? Surprises me.

Don't really know how it compares. There is acreage besides the house and buildings and we have to pay more for insurance due to living too far from a fire station. But no mortgage payment on top of that yet.

GliderJohn

geoff in almonte · « **Reply #23 on:** November 21, 2015, 04:13:31 PM »

Thanx to all for your good wishes. We were 32 years paying off the mortgage. I've been in debt since I was 15 - I'm 62 now.

It's a strange feeling having that monkey off my back. Hard to describe. Kinda liberating.

I mentioned starting my debt when I was 15. I was a bit of a problem child back then and when I was 14 my parents shipped me off to my Uncle Victor for the summer. Uncle Victor owned a resort near Toronto that catered to an eastern european clientelle. I worked 14 hours per day, six days per week and took home $35 per week. At the end of the summer I bought $400 in Canada Savings Bonds. The following spring I used those bonds as collateral for a loan. I used the loan to buy my first motorcycle - a 1965 Honda 160 Benley. I still remember the look on my dad's face when he found out whose motorbike was in the lane way. It was classic!

To the fellow from Kinburn Rd - Was that you on the Black Norge? If so, Ive seen you several times - I live very close to the Almonte High School. We should meet!

To Nick from Inverary - Expect a PM soonish.

Cheers All! And Thanx again,

G

Texas Turnip · « **Reply #24 on:** November 21, 2015, 04:53:39 PM »

I'm happy for you. Instead of paying high interest to the charge card and interest to the mortgage company, I use the money to pay cash for a new Guzzi every few years.

Unfortunately, I know some that don't have a clue, only how much their monthly payment is. I don't like to hear that I'm "lucky' that I'm debt free.

Tex

Lee Bruns · « **Reply #25 on:** November 21, 2015, 08:27:29 PM »

Quote from: geoff in almonte on November 20, 2015, 04:24:01 PM

Today.

Paid off the mortgage - no other debts.

Time for a celebratory hit of Highland Park (18yo single malt) and a deep sigh of relief.

Maybe even send out for a pizza!

Cheers!

Good show, SIR!!!!!

G

geoff in almonte · « **Reply #26 on:** November 24, 2015, 10:00:20 AM »

Quote from: nick949 on November 21, 2015, 06:18:57 AM

Good one Geoff. I can't wait for that day here. Enjoy it.

Nick

Thx. It is fortunate that you responded to this - I have been meaning to contact you.

When we met last summer at the Ont rally we had a brief discussion about the FI on my 08 Vintage. At that time, you indicated that you had the hardware (laptop, pigtails), software (GuzziDiag) and experience to make the FI on the Vintage right.

I'm writing to see if you still have the inclination?

I expect that the throttle bodies will need to be synced, the mapping corrected and the TPS set properly. I had the bike into Wheelsport during the summer to see what they could doto fix it. They took my $$ and did nothing. I dont think I'll be back.

I have accumulated the bits that I need - Laf pipes & x-over and the cannister-ectomy will be performed in the spring.

What say you? We can discuss a suitable compensation for your time and trouble later.

Cheers!

G

jcctx · « **Reply #27 on:** November 24, 2015, 10:36:46 AM »

Congrats on getting rid of the debt; our magic day was in MARCH, 1990. Our son and DIL just got rid of their mortgage last month; definitely a great feeling!!!

ponti_33609 · « **Reply #28 on:** November 24, 2015, 11:17:06 AM »

Congrats....if you are like we were you will see how quickly your savings accumulate now!

slowmover · « **Reply #29 on:** November 24, 2015, 12:03:20 PM »

Search 11 Great Reasons to Carry a Big, Long Mortgage -

News:

Author Topic: Debt free day - NGC (Read 5600 times)

Wildguzzi.com

56Pan

56Pan

lucydad

Orange Guzzi

ponti_33609