20 responses

  1. Financial Samurai
    February 22, 2010

    Congrats man! Time to buy a new Porsche 911 Turbo?!
    .-= Financial Samurai´s last blog ..How To Get Your Super Motivated Boyfriend to Marry You =-.

  2. MoneyReasons
    February 22, 2010

    Thanks :)

    Well, if I save for a few months, I think I can afford a used picture of a Porsche 911 Turbo…

    It is a nice feeling, it’s just taking a while to sink in. The payoff was overshadowed by my sister having her first baby this past weekend.

    She always did have to be the center of attention!

  3. Evolution Of Wealth
    February 22, 2010

    I’m interested to see what you are going to do with the money that use to be your mortgage payment. Making 1.5 times your payment must be a pretty big chunk of money that is now free every month. Do you treat yourself to something nice first? Or are you just going to save all that money? If so, where are you saving it to?
    .-= Evolution Of Wealth´s last blog ..Why Your Finanical Planner is Like a Buffet =-.

    • MoneyReasons
      February 22, 2010

      @Evolution Of Wealth

      Welcome to my site!

      Most likely, I’ll put the money in stocks (and later bonds) that have a fair dividend/yield. Ideally, I’d like to have the stocks and bonds provide a decent amount of passive income.

      I’m still playing around with ideas…

      When I do get enough of them, and they produce a decent enough payout, I think I’m going to go somewhere big for vacation (or at least for me big). Some place like Hawaii or Europe…

  4. WellHeeledBlog
    February 22, 2010

    Congratulations!! This is such an awesome achievement.. you and your family deserve a celebration. When I buy a home, I hope I can pay off my mortgage earlier too.

    • MoneyReasons
      February 22, 2010

      Thanks WellHeeled!

      Blogging about it for the last few months made it seem to last forever… I started feeling like a kid in back of a car on a trip asking “Are we there yet? Are we there yet?” over and over :)

      Paying of our house made sense at the time, with rates so low, I don’t know if I would do it again.

  5. LeanLifeCoach
    February 22, 2010

    And I thought I was having a great day? This totally rocks… Congratulations!

    12 years of a mortgage to go or less and I’ll be joining you!

    More power to you!!!!
    .-= LeanLifeCoach´s last blog ..Combat The Closing Techniques – The Puppy Dog Close =-.

    • MoneyReasons
      February 22, 2010

      Thanks Coach!

      It goes fast that’s for sure! Honestly, I think is just a phobia of debt that I have. My wife initially though that I was crazy to try and pay off the house early, but with the way the markets turned out, I think it will work to my advantage. Especially if I start really jumping into the market now…

      It’s an exciting new adventure for me… Hopefully, in a few years I’ll be vacationing where Sam was this past week (or at least on the same island…) :)

  6. MoneyReasons
    February 22, 2010

    @Sam @WellHeeled @Coach

    Congratulations to all three of you for your nominations for the Plutus Awards!

    Very well deserved! (virtual clapping goes here :) )

  7. moneyhoneysf
    February 23, 2010

    Congratulations MR. MR!

    It must be a great feeling not having ANY sort or type of debt. Unbelievable! So all the earnings every payday is free to be used on anything?

    DH and I are making extra payments as well on our 30 year mortgage. We hope by doing this, we’ll have it paid off in 20 years or so.

    I’ll be keeping post to hear what you’ll be doing with your money from this point out.

    Any hints of an expensive splurge on the horizon for you?

    http://moneyhoneysf.blogspot.com/
    .-= moneyhoneysf´s last blog ..Prize: a $2,000,000 house =-.

  8. MoneyReasons
    February 23, 2010

    Thanks MoneyHoney!

    Yep, I can use the money for anything, but most likely it will be used for a lovely basket of investment vehicles… Most likely stocks, mutual funds, etfs and bonds…

    I created a spreadsheet to do “what if” analysis with the payments. I knew exactly when it would be paid off, and how much interesting I would shave off of the cost of the house… Worked out great!!!

    After I buy that Porsche 911 that SAM mentioned above (lol), After a few years of savings, I’m thinking a vacation overseas, Hawaii, Alaska or Gotham City…

    I’m still in Debt-Free shock, I’m floundering a bit now… Hopefully I’ll have a better plan of attack after a few months! :)

  9. MoneyReasons
    February 26, 2010

    @Stay at Home Mom CFO
    lol, yeah, it was 10 years in the making. I personally know people that did it in 5 and 1 guy that has never had a mortgage… he/they paid for both of their houses outright. (Grrr, erh I mean great!)

    I see you got a new website, in addition to your current one! Very nice!

    Thanks for visiting!

  10. Edward Culligan
    May 5, 2011

    It must be a great feeling not having ANY sort or type of debt. Unbelievable! So all the earnings every payday is free to be used on anything? What a great feeling. Great Site!

  11. Cell Phone Call
    August 20, 2011

    This is a wonderful milestone to achieve. I noticed that your family enjoyed some great vacations since this posting. The memories of swimming with the porpoises will last a lifetime.

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