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Old 09-23-2021, 07:04 AM   #1
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I am no longer under water....

Passed a milestone this year, my debts are finally less than my investments, including my house mortgage. It is a funny feeling but now I'm hoping my health will allow me to enjoy it awhile! I hope others can enjoy the sense of relief from stopping their water treading and breathing freely!
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Old 09-23-2021, 07:11 AM   #2
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Congrats! It's a great feeling!
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Old 09-23-2021, 07:34 AM   #3
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👍👍 ooh yeah, it absolutely is a great feeling 🍻
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Old 09-23-2021, 08:16 AM   #4
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I paid off the suv note last December, and now we are out of debt. It is a great feeling. It wasn't easy getting to this point, which makes me appreciate it more.
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Old 09-23-2021, 09:25 AM   #5
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It's definitely a great feeling to be mortgage/loan free.
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Old 09-23-2021, 10:29 AM   #6
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I still have a mortgage, albeit small, but I also have more in investments than my mortgage. I guess a better explanation would be my net worth is now positive?
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Old 09-23-2021, 11:53 AM   #7
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Originally Posted by cpaharley2008 View Post
I still have a mortgage, albeit small, but I also have more in investments than my mortgage. I guess a better explanation would be my net worth is now positive?
You need to include all assets in calculating net worth. Given you are near to fully owning your home that alone would make your worth a much bigger positive. Your good bullion stash would add to it too.
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Old 09-23-2021, 12:29 PM   #8
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Congrats, Jim, it's a good feeling I know

It's no small thing, the sense of relief (for lack of a better term though that's inadequate) that achieving these 'milestones' brings (above water, mortgage-free, debt-free, etc).

Many folks aren't so fortunate as you know, count each among your many blessings as I'm sure you do.

Wishing you continued good health, security, and Happy Camping with the arrival of your latest Escape!
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Old 09-23-2021, 12:44 PM   #9
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I still have a mortgage, albeit small, but I also have more in investments than my mortgage. I guess a better explanation would be my net worth is now positive?
Heartiest congratulations! Your biggest asset is your health and I wish you much enjoyment!
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Old 09-23-2021, 12:57 PM   #10
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I saw a bumper sticker once. 'Crime doesn't pay, neither does farming'.

It's been good around here for a number of years but I can remember my Dad getting together with my Gramps and talking about now to make it next year. At least there was no debt to service. It was still in my Gramps tenure and he would NOT allow ant debt beyond monthly bills.
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Old 09-23-2021, 03:05 PM   #11
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I saw a bumper sticker once. 'Crime doesn't pay, neither does farming'.

It's been good around here for a number of years but I can remember my Dad getting together with my Gramps and talking about now to make it next year. At least there was no debt to service. It was still in my Gramps tenure and he would NOT allow ant debt beyond monthly bills.
You could add ranching to that list too.
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Old 09-23-2021, 05:07 PM   #12
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Underwater

I’m not familiar with CPA jargon, but what I think above water means is that if you sold everything you own and cashed in your investments all to pay your bills, you would be close to penniless and homeless but without debt. I guess that’s better than being underwater.
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Old 09-23-2021, 05:12 PM   #13
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My new drug costs $4,000 a month, paid for by the government, which is why I'm not penniless.

Or dead.
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Old 09-23-2021, 10:17 PM   #14
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Bumper sticker - where can I get one?

Quote:
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I saw a bumper sticker once. 'Crime doesn't pay, neither does farming'.
I came to ranching (sheep) late in life, a childhood dream come true - well, sort of. Except as a kid I saw myself on a cattle ranch in Wyoming, rounding up stock with with horses, etc. In my mid 50s, life experience had scaled down my expectations, and sheep on 40 acres seemed more realistic - little did I know! In fact, I knew nothing but I had saved enough $$ from real jobs to carry me through, and I am growing long in tooth with seven sheep, one llama and four alpacas, all long of tooth too. A pleasant enough lifestyle for waiting out Covid 19 and all its variants. Only lacking good conversation, but I have my Aussie for that. This winter we, the Aussie and I, will explore the nearby parks in our E19.
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Old 09-23-2021, 10:22 PM   #15
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Living debt free is certainly not glamorous, but it sure is satisfying!
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Old 09-23-2021, 10:23 PM   #16
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Yup!!!
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Old 09-24-2021, 12:49 AM   #17
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Will never forget walking into my bank and handing over the last check to pay off the mortgage....had to do that in person.
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Old 09-24-2021, 11:13 AM   #18
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Although I have no mortgage, our two cars are paid off and my VA doctors have been great, regardless, if there's a will I want to be in it.
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Old 09-24-2021, 11:31 AM   #19
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Congrats on your achievement!

As others have commented, it's not easy!

I never thought I'd be able to retire... or own a nice camper... but we somehow got there.

We now count our blessings and hope to enjoy the gift of time before our bodies (bah-days) wear out.

2 days ago, we were in our Escape surrounded by beautiful autumn scenery. Jimmy Buffet somehow came out of the speaker and said "I made enough money to buy Miami but I pissed it away so fast." Wealth is subjective!

Mike
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Old 09-29-2021, 09:04 AM   #20
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Quote:
Originally Posted by cpaharley2008 View Post
Passed a milestone this year, my debts are finally less than my investments, including my house mortgage. It is a funny feeling but now I'm hoping my health will allow me to enjoy it awhile! I hope others can enjoy the sense of relief from stopping their water treading and breathing freely!
Hi: cpaharley2008... I feel your relief!!! Even though we're mortgage free we have a line of credit tied to it. In this case we can't "Burn the mortgage". I use it to pay for my love of "Big boy toys". Alf
escape artist N.S. of Lake Erie
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