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I have officially rejoined the 3%...

Doc
Of Americans who are debt free. Paid off the mortgage today. Took exactly 3 years.

I read that 3% of Americans carry no balance on credit cards and pay them in full each month never paying interest. That's me.

I heard that 3% pay cash for a new car and avoid finance charges and interest. That's me, too.

I was told that 3% pay off the mortgage early. I realized it's the same 3% all the time. So 3% of Americans are debt free. That's me!

On the way home from the bank I stopped at a Dodge dealer and test drove a Challenger R/T with a 375 HP V8. As a young man I had a 1970 Challenger with a 375 HP V8. That was a 4 speed. New one is a 6 speed. I think I'm ready for that midlife crisis I've been promising myself. The car fund started today.
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Comments

33 comments

Date Votes
  • select-fire
    I can afford the NRA membership now. :roll:
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  • Doc
    Like I said, rejoined the 3%. Paid off our previous house in 8 years and I tried to pay cash for the new one but wound up financing 20% of the price. Paid off in 3 years.
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  • Rack Ops
    I carry no debt other than my mortgage, and I wouldn't pay it off early if I could. No debt is "good debt", but carrying a mortgage is a better financial plan, in certain circumstances, than tying all of your wealth into the walls of your home.


    But seriously, Congrats. Most Americans have no *plan* at all and end up being dependent on someone else.
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