No I haven't won the lottery, and technically, I am not debt free at the moment. This is just something that popped into my head this weekend while seeing some estate sales with all their cr@... However that point (being debt free) is no longer a mystical nirvana for me, I can see that point will come not too far down the road. Already I have more in liquid savings than I owe on my mortgage, so I *could* take out everything and pay it off (and be 100% debt free), though I'm not going to do that for now. My one big concern (my car) looks like it may have an easy resolution. My mother wants to upgrade her car next year and I will probably pay her for her very low milage car at that point (based on whatever a reasonable trade in price will be).
So say I'm at that point (house is paid, car is paid and in beautiful shape, no debts). Now what?
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Go for another job? I like what I do, low stress, decent pay, good pension, even has a gym to stay in shape. There's no reason to leave that.
Travel? Heck, I lived overseas for a few years and truthfully I have no burning desire to do that again.
Get in better physical shape? I'm already trying to do that. Plus you really don't need that much money to do it anyway.
Buy the latest and greatest gizmos? I work in high tech all day, I have no desire to be around it 24/7. I don't even watch TV (except for some sports, and I even have less desire to do that than I used to). I've got a computer, 2 TVs, and DVD player, what more do I need?
Fix up the house? Yeah, there are some things to do (replace driveway, new carpet, cut down a tree out front, maybe get a new water heater or furnace though they are working fine). Those are nice, but they won't cost that much to have done. Maybe one or two pieces of furniture could be replaced, but again, I don't need much (most of my furniture I made by hand, and is still very solid). And I have all the dishes, utensils, cookware, bric-a-brac I will ever need (thanks yard sales!).
Invest? Well you can see I have some investments, though not nearly enough to quit my job. I figure to continue investing, though it certainly won't take up all my earnings.
Hobbies? I already have enough to be happy. I'm sure I will buy more, but I doubt all that much. And actually I have started to sell some excess on ebay as I would like more space in the house.
Sell this house and get a house closer to where I work? This idea has intrigued me, but I doubt I will consider it for a few years at least. If I do it, it will be no sooner than 2015 as I think this area's prices will be improved by that time.
Volunteer? I'm not that big on that, though I do some already. It is more than enough to keep me fulfilled already, I don't need to do more.
Go to Vegas and gamble? Ummm NO! Going to shows - yeah that I could see, but gamble? No thanks.
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This wasn't meant to brag, nor to complain. Just sorta a train of thought. Most people that work towards being financially independent (I think) have a major goal like doing something different for a living or travelling (or not having to move in with a child when they retire because they have no money!). For me, its been the simple matter of not being a slave to others, and being in a position where if someone really ticks me off I can tell them to take a hike and not worry about the consequences. Now that I can see that time coming on the horizon, it makes me wonder what is next.
Ok, you're 100% debt free. Now what?
November 14th, 2010 at 06:50 pm
November 14th, 2010 at 07:25 pm 1289762716
November 14th, 2010 at 11:34 pm 1289777695
I think it is a rare blessing to be so content.
& if something else does come along in the future (some dream or goal) you will be in a great position to pursue it. Life is full of surprises.
November 15th, 2010 at 12:26 am 1289780814
November 15th, 2010 at 03:18 am 1289791083
November 15th, 2010 at 05:09 pm 1289840975
November 26th, 2010 at 11:04 pm 1290812693
Jerry