yeah -- if everything stays on course, we should be debt free, including our house in about 5 years. I won't be retiring for another 20 years, unless my passive income can increase to the point I won't need to "work".
Well, we were supposed to be - that was the plan. However, if dh does get laid off soon and is forced to 'retire' we won't be. But I will still be working and he will be getting another job. So then the plan is to yes, be completely out of debt when we both 'really' retire.
Yes, we were debt free many years before retirement. That was what allowed us to save like crazy and retire early. I can't imagine going into retirement with debt, although I know people who are doing so.
I am only 29 now, and have 13 years and some odd months left on house. that is all the debt i have now. I am hoping that I dont get any more debt ever. I know i will need a new vehicle at some point, but i am doing some saving for that, so hoping that will not be another debt. things happen however so i cant say for sure!
Dh and I have vowed to never take out another loan in our lifetime. We are currently debt free with the exception of our mortgage, and our mortgage will be paid off before we retire. We have no plans on purchasing another house, so we should be good before we retire.
We have about 20 years left on our mortgage, but with making extra payments, hopefully, it will be paid off long before 20 years from now!
we have a good chunk of debt right now, but with real focus and dedication we'll get rid of it next spring, leaving the house which has 8 years left on it when we renew in December. Dh figures we should roll the remaining debt into the mortgage then just do extra principal payments to lessen the burden, but if all goes right, we'll only have $5000 left to pay off when we renew the mortgage and that seems silly to roll in.
We are headed towards being debt free. We still have a ways to go but it is doable if we stay on track. The goals and the steps we have in place to acheive them would allow us to retire early. If we aren't out of debt it won't happen.
It is our plan to be debt free..medical is kicking our tail right now...but we will get that taken care of within the next three months. I don't want to have to worry like so many around here about how we will survive. We are trying to save every extra dime.
Yes, that is the plan. I am 37 and DH is 43. We will be debt free, except the mortgage, in one month, yay! We have $35,000 left on our mortgage, so we should be able to do that withing the next 4-5 years easily.....if everything with our jobs stays the same and we have no major life changes.
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