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newmisty

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....to the founding members, the folks involved with minting the gim silver rounds, and those who have offered fiscal knowledge & experience.

Most know I found this site some 15 years ago or so now, after buying generic silver from APMEX and getting one round with the intriguing html - www.goldismoney.info

Because of the repeated mantras I read here as a greenhorn, I kept my $ in metals. Store of value.

When I got divorced in '15, the ex kept the house and our business, I kept my metals.

Because the metals are not as liquid as fiat, it wasnt spent. This enabled me to put a down payment on a small fixer upper.

Next month is my LAST PAYMENT on the house.

Couldn't have done it without you.

Deepest respect and best regards.
 

EricTheCat

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Congrats Newmisty. I love the story about how you found this place.
 

Goldhedge

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Congrats! Glad the place turned out to be of some use....
 

Scorpio

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....to the founding members, the folks involved with minting the gim silver rounds, and those who have offered fiscal knowledge & experience.

Most know I found this site some 15 years ago or so now, after buying generic silver from APMEX and getting one round with the intriguing html - www.goldismoney.info

Because of the repeated mantras I read here as a greenhorn, I kept my $ in metals. Store of value.

When I got divorced in '15, the ex kept the house and our business, I kept my metals.

Because the metals are not as liquid as fiat, it wasnt spent. This enabled me to put a down payment on a small fixer upper.

Next month is my LAST PAYMENT on the house.

Couldn't have done it without you.

Deepest respect and best regards.

We all could ask for no more other than to help others,
as you too have done for others,

what a great story
 

smooth

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Congrats!!
 

davycoppitt

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Awesome to hear. You get to join the elite club. Not many out there can say they accomplished that. All those who have give you the utmost respect because they know how much work and dedication it takes to get a house paid off. The house will feel a little different after that last payment and in a very good way.

I still remember the day my parents paid off their house. My dad worked so hard his entire life to get it paid off and his pride that day is something I will always remember. That same pride came out in full force when my wife and I told him we got ours paid off.
 

Unca Walt

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newmisty said:
Next month is my LAST PAYMENT on the house.

You will actually get chills every now and then, when you realize you are out from under that heavy weight.

The nice part? I've been there since the dot-com boom when I bought at a dollar and sold at 51. Paid for my new house, land, furniture (after only 45 years of marriage at that time).
 

Goldbrix

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My truck gets paid off in August. :2 thumbs up: Jus' Sayin'


Congrats newmisty
 

D-FENZ

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Hopefully your property tax bill is at least reasonable. And I don't mean to piss on your warm fuzzy, but...

I thought I had my residence paid-for free and clear too, until I realized that I still have a $8,500 tax bill due- every, single, freek'n year- until it goes up again.
 

rte

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Congrats.
It's a bit of fresh air and weght lifted off the shoulders, but don't forget the tax man.
Were not truly free...

newmisty said:
Next month is my LAST PAYMENT on the house.

You will actually get chills every now and then, when you realize you are out from under that heavy weight.

The nice part? I've been there since the dot-com boom when I bought at a dollar and sold at 51. Paid for my new house, land, furniture (after only 45 years of marriage at that time).
 

EricTheCat

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Just wanted to add, people brought up a good point about taxes.

I don't know if it's always like his, but when I got my house the taxes were worked in to the monthly payment. I knew that when I paid my house off so it was no surprise to me. Just make sure you save enough through the year to handle that tax burden.

I got my house in 2009 and at the time I wondered how well I would afford the payments on top of energy and upkeep. I had a loan with no early payment penalty. So once I was able I started putting more down on the principal every month. I stared with 200 more a month, changed to 600 more a month, eventually realized I could afford 1000 more a month. After 7 years I realized I had enough to pay off the remainder so I payed my 30 year loan off 23 years early and so I have been debt free since 2016. No regrets here.
 

Ensoniq

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That’s freaking awesome

I love a “no more debt” victory

Dave Ramsey says take your shoes off and walk in your yard. The grass feels better somehow;)
 

D-FENZ

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I got my house in 2009 and at the time I wondered how well I would afford the payments on top of energy and upkeep. I had a loan with no early payment penalty. So once I was able I started putting more down on the principal every month. I stared with 200 more a month, changed to 600 more a month, eventually realized I could afford 1000 more a month. After 7 years I realized I had enough to pay off the remainder so I payed my 30 year loan off 23 years early and so I have been debt free since 2016. No regrets here.
When we first built our place 26 years ago, we were stretching our budget to the max too, and wondered how we would ever keep up the payments along with filling it with furniture and all the extra demands of ownership- and taxes etc. And honestly, we built too nice of a home at the time. We did refinance it a couple of times over the years as the interest rates kept coming down. But no matter what, the whole time, the actual inflation rate was always above the interest rate (with the interest tax write-offs) and our incomes were always going up. So the payments kept getting easier as they stayed pretty much the same in dollar terms but the dollars paid were continually worth less and less. I did consider paying the place off sooner but thought that would be silly because of the way those numbers were working out. Should have listened to myself.

So it was kind of bittersweet for me a few years ago when I finally just paid it off. I had an extra $75,000 laying there just doing nothing. and no better place to put it- or so I reasoned. In hindsight it was not a wise decision at all. Sure, it feels good not having a mortgage, but I would call that 'mental accounting'. That same $75,000 properly invested would have done much, much better in the years since and would have easily more than doubled.

Now my son has just locked in a low interest loan on his new house with a minimal down payment. Never would have thought that he could pull it off but I recommended that he borrow all he could- and he listened. Geez.. What a fabulous place. With the presses printing cash full tilt, along with near zero interest rates, it really is a no-brainer. Congratulations!

In a few years his payments will just be ice-cream money. He too will do just fine and probably a lot better.
 

hammerhead

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That same $75,000 properly invested would have done much, much better in the years since and would have easily more than doubled.
At least you put your cash in something tangible. You could have lost that 75 large also.

All the same, it's nice to see the kids picking up their own places and charting their course.
 

Joe King

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Dave Ramsey says take your shoes off and walk in your yard. The grass feels better somehow;)
He must not live in an area with fire ants then. lol
 

ttazzman

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....to the founding members, the folks involved with minting the gim silver rounds, and those who have offered fiscal knowledge & experience.

Most know I found this site some 15 years ago or so now, after buying generic silver from APMEX and getting one round with the intriguing html - www.goldismoney.info

Because of the repeated mantras I read here as a greenhorn, I kept my $ in metals. Store of value.

When I got divorced in '15, the ex kept the house and our business, I kept my metals.

Because the metals are not as liquid as fiat, it wasnt spent. This enabled me to put a down payment on a small fixer upper.

Next month is my LAST PAYMENT on the house.

Couldn't have done it without you.

Deepest respect and best regards.
That is fantastic .....some will say it's stupid with intrest rates as low as they are now....but there is major freedom in lack of debt ...make sure the bank holding the note sends appropriate paperwork they are not used to notes being paid off