Have you ever felt really really proud of yourself. Well yesterday I paid off my farm. It's not big. Only 80 acres. I bought it 7 years ago & put 12,000 ft of terraces on it. I took out some old buildings & trees & fences around the building site. I cleaned up some other fences & got grass headlands estabilished on the outer borders. I've turned it into a real productive farm. I'm not bragging but my Dad & FIL are both gone & I just wanted to tell someone. Gerald
- Thread starter gmccool
- Start date
bob old iron
New User
i think i/all know your feeling, wishing our grand/parents were here to see it now. congrats!
Anonymous-0
Well-known Member
You have the right to be proud of yourself. Sounds like you have been a very busy man in the last seven years.
Tom in TN
Well-known Member
- Location
- Southern Middle Tennessee
Congratulations GM,
You have accomplished something that relatively few Americans have achieved.
Now, considering the financial situation of the USA, have you ever considered running for the presidency?
Tom in TN
You have accomplished something that relatively few Americans have achieved.
Now, considering the financial situation of the USA, have you ever considered running for the presidency?
Tom in TN
greenbeanman in Kansas
Well-known Member
You certainly have earned the right too and should toot your own horn on the event.
I, too, congratulate you.
I, too, congratulate you.
in-too-deep
Well-known Member
Nice job, Cool. You have every right to be proud!
Clodbuster
Member
Great job!!! Now have a "note burning party" to celebrate.
Fullthrottle
Member
That's great! Big job in today's world. Don't worry about the extra money,it spends itself.
Ken Macfarlane
Well-known Member
Congrats! A couple more years for us, but unfortunately its the off farm work paying it off.
37chief
Well-known Member
- Location
- California
Only 80 acres, That is a major piece of land where I live. WOW that's good news. Keep up what yor are doing.I would like to tell my Dad a few things also, but he is also gone. Stan
Tony in Mass.
Well-known Member
Now you have to do 2 things. 1, promise yourself you'll try to never borrow money again, second, next month, when a morgage payment was due, just go out and buy something for that same ammount you and your family -want- not need, just want. A new TV, labtop, a night at the indian casino... It will make you feel like you are alive again!! You won't want to ever go in debt again....
Lloyd In South Carolina
Member
Excellent! I hope to be there in another 2-3 years,,,, its not a 80 acre farm, just a 10acre new retirement home,,,, but paid for a lien free it should be!
Congrats, great job. Very cool!
L.
Congrats, great job. Very cool!
L.
Bob Bancroft
Well-known Member
- Location
- Aurora NY
Congratulations.
Nothing better in this world than a piece of land. You can raise food and pump your own water. You can park yourself and your stuff!
I've been paying extra. At my current rate I've got two more years before the farm mortgage is gone. The shame is with high commodity prices I could pay it off right now. But SS/income tax would kill me. So I will keep updating much needed equipment.
Nothing better in this world than a piece of land. You can raise food and pump your own water. You can park yourself and your stuff!
I've been paying extra. At my current rate I've got two more years before the farm mortgage is gone. The shame is with high commodity prices I could pay it off right now. But SS/income tax would kill me. So I will keep updating much needed equipment.
James Howell
Well-known Member
Congratulations to you; be proud of your accomplishment.
Sounds like you"ve got a lot of "sweat equity" in your farm.
Its a great feeling to be debt free.
Sounds like you"ve got a lot of "sweat equity" in your farm.
Its a great feeling to be debt free.
Well, congratulations are in order!!! I made it to that milestone about 4 years ago. If I may give any advice to you it would be what I did after that last payment. I started putting the same farm monthly payment in a savings account (since we were already working with that same dollar amount in our budget) Wow, what a pretty nice nest-egg in a few months. Kind of like being my own finance company. If something comes along that I would have had to go to the bank and borrow I just now take it out of our "special" savings account. That piece of land looks so much better since you can set back and say "mine all mine" Just my 2 cents worth. Happy Trails....
I did that back in 1981 even though I had a 30 year loan and paid it off in 10 years. I worked a lot of overtime and I didn't buy a new car for 42 years from 1959 til 2001. I bought used cars with low mileage and fixed them if they needed it. I did buy a new truck in 1969 since it was used in a sideline business. I also had a daughter that was going to college in 1972, but she waited 3 years and went to work for the US Government. She went to a local community college and became a nurse in 2 years. After she worked for awhile she completed her studies for her BS and MS in nursing from University of MD. She also received her master's in Public Health from Johns Hopkins. She has completed her studies to become a Nurse Practitioner. She took out a low interest loan when she attended Hopkins and we kept her in money since she couldn't work and attend school full-time. Hal
RandyB(MI)
Well-known Member
Well bragging ain't bragging ifn ya can back it up! Looks like ya dun yourself prowd. They may be gone now but their legacy lives on in you and the inherent values you obviously share with them. Hopefully you have someone to pass it on to also. Keep the fire burnin'. Pretty hard to get it started once it goes out!
Anonymous-0
Well-known Member
Congratulations-on the sarcasism side it is unamerican to be debt free, just look at the federal governement debt
Mark - IN.
Well-known Member
Congratulations!!!
Now in the future, if property taxes were taken out through mortgage escroll, do NOT forget to pay them. Nothing like having someone come up and pay your taxes and then be deeded your property.
I recall reading in the paper a few years ago about an elderly lady in Illinois when I lived there, that under paid her property taxes by $1.00. I am not joking, one stinking dollar, and along came a fella that paid taxes for others legally, and then deeded their properties, all 100% legal in at least Illinois, and he paid that $1.00 under payment for her, and she didn't even know that she under paid until he went to evict her one day. The county never told her, they just deeded the property to him. When her story hit the papers, that guy got so shamed, and he deserved it and more, that he gave her back her property. He had to give her back her property because too many angry people made him offers that he dared not refuse, if you know what I mean.
Anyway, now that you own it, don't make any mistakes that will allow anyone to take it away from you and your family. Congratulations, farm it in great health for many years, decades...
Mark
Now in the future, if property taxes were taken out through mortgage escroll, do NOT forget to pay them. Nothing like having someone come up and pay your taxes and then be deeded your property.
I recall reading in the paper a few years ago about an elderly lady in Illinois when I lived there, that under paid her property taxes by $1.00. I am not joking, one stinking dollar, and along came a fella that paid taxes for others legally, and then deeded their properties, all 100% legal in at least Illinois, and he paid that $1.00 under payment for her, and she didn't even know that she under paid until he went to evict her one day. The county never told her, they just deeded the property to him. When her story hit the papers, that guy got so shamed, and he deserved it and more, that he gave her back her property. He had to give her back her property because too many angry people made him offers that he dared not refuse, if you know what I mean.
Anyway, now that you own it, don't make any mistakes that will allow anyone to take it away from you and your family. Congratulations, farm it in great health for many years, decades...
Mark
Hey guys, be sure and keep your credit active. I retired in "93. Everything paid for farm, house,car, boat, everything. Dont need credit, I thought. Ill just pay for what I need. That worked fine for a while. Then I wanted to start buying stuff that I cannot get local on the internet. Need a credit card to do that. Guess what. Turned down,and I am a stockholder of that bank. Not for bad credit, for no credit. So I pulled a few strings and got my card. Now I am buying stuff with the card to rebuild my credit. Keep your credit open just dont over do it. G
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