We don't have any debt and it makes me that much more determined never to incur any.

Although I hate being in debt, I didn't want to rent forever. I am in the process of buying a townhouse and plan on paying it off in 10-12 years. After that, I refuse to take on anymore debt.

Op here again. I like what I'm reading so far. Just to give more insight into my current situation, I'm at an impasse. I'm within range of paying off all my debt. I'm mid-30's, married w/ a kid, have good retirement savings and other savings so far, decent income, but no house (we rent).

I crunched the numbers recently and it looks like I may be able to retire in really good shape if we avoid taking on a mortgage and simply move into my parents house in 30 or so years after they've passed away.

Or, maybe with no debt we can move to South America for a while and 'downshift' our lives?

Or maybe my wife can scale back her hours or even choose to be a stay at home parent? This last one would still be a stretch financially but would rule out any thoughts of early retirement.

I guess the bottom line is: our minds are swimming over this... do we take on a mortgage or max out the opportunities that being debt free offers?

No debt and have been that way for a number of years. There's a tremendous freedom that comes from this. DH has retired young, but works if something interests him. I'm still working bc I like what I do. We also do consider the price of things.

- Fund retirement
- Fund college accounts
- Give more money to charity
- Spend more on trips
- Tell my husband to quit his job and follow his dream

Fund retirement so I could retire early-to-mid 50s.

OP here. Of course I'm referring to debt as a means and not an end. Ha!

We have fully prepaid college and dumped tons into 529. We buy everything with cash or put on credit to get miles and then pay off. We spend on fun and interesting vacations. We spend money on experiences (classes for kids, concerts). We give nice gifts to family and friends as appropriate for the occasion. We pay our landscape and cleaning staff well and tip well. We donate to our church, our schools, causes we support. We do not drive fancy cars and we do not wear lots of brand names just to be flashy. We keep our home in good shape. We continually budget away funds for future renovations or upkeep projects. Odd that you would view debtlessness as an opportunity to get back into debt. Debt is not a goal. It may be a path but it is not a goal.

PP - $72k is hardly 'no debt'. LOL. Or, I wish I was so rich that it seemed like no debt!

Op here. Lack of debt gives more freedom and flexibility to how you live your life, because you have less 'overhead'. What I'm wondering about is unique ways that people take advantage of their lack of indebtedness.

You know what I would do if I had a million dollars? I would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities...

We have been debt free for several years. But it does not inspire us to spend no money, or to retire.

I know you asked for zero debt, but we are pretty close to zero (compared to anyone else we know). We do have a house payment, it has 10 years left at $600 a month payment. If it were up to me, once paid off the money would go into retirement. Up to my husband, a new slightly larger house. That is our only debt.

I will be debt free in a few months and that is when I will start saving for a home. So, eventually I will get back into debt with a mortgage.

There is much discussion on the interwebs about what you would do differently if you were suddenly rich, or how you would live if your income were to drastically rise. However I would like to know how you would choose to live your life differently (if at all) if you suddenly didn't have any debt - NONE. Would you use this an an opportunity to get back into debt again? For instance, would it justify the purchase of a new, more expensive house? Or perhaps you would use the opportunity to downscale your life (work less, pursue a hobby, etc.)? I'm curious what others would do.