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Mortgage paid off!


Thaddeus Kosciuszko
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Great feeling isn't it! We paid off the house earlier this year. Our credit card debt is down to zero. We are paying on a car but the interest rate is only 1.5%.

 

We've always had an escrow account that paid the property taxes and insurance. I have to remember to save about $7K for that each year.

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Aboot a year away for us.  So where will the money go?  I guess there are always places!

 

Some will go towards another wedding about a year from now.  We're rolling the amount we used to make for car payments and the mortgage payments into a savings account.  Interest is next to nothing on the account, but anything 'liquid' doesn't yield much anyway.  Once we have enough rolled up in the account we pay the next loan off, then add that loan payment into the monthly savings account deposit and start on the next loan.  We're not perfectly disciplined with putting every bit into savings, but we stay on track for the most part. 

 

Then probably another wedding the year after next, too.  I think then we'll be done with weddings, at least as far as paying for them.

 

Then - finally with all the loans paid off - I think we can start stuffing away serious funds for retirement.  Not that I ever expect to retire, or that I expect social security to be there if I do.

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