Retirement…. and debt.

[Ozz]

I guess I’m not like most people.
Most people, when planning on a retirement lifestyle such as RV travel, would buy and pay for their tow vehicle and trailer while working, then retire.
Not me. I would say we racked up well over $120,000 in debt about the time we hit the road. When we traveled for the 5 years, another additional tidy sum was accumulating on our credit cards.
I wouldn’t trade the wonderful times we had traveling, meeting great people, seeing beautiful country for any price. I know full well why so many do so. But…
I says to myself; “Hershel, let’s pull one of those Dave Ramsay deals and pay this crud off!” So, Sue and I put our heads down, started a new company and committed to a 7 day a week campaign to do so.
We paid off a couple of credit cards, paid off the truck, three years seven month’s early. We just paid off our last credit card bill, well over $26,000.
We kept combining our credit debt with interest-free cards until we were able to write that last check to clear them up.
Our HVAC company started with 2 customers 3 years ago. Our success has been amazing. I believe in great service, no call-backs, rely on my past training and I think most of all, my love for what I do.
We have been saving for our upcoming travels while paying off the debt we owe.
We now owe a total debt of just $12,700, that is for the $50,000 Montana 5th wheel balance. We should have it paid off 10 years early, probably mid-Winter.
In less than a year, we will be on the road again, a little money in our pocket to travel with, and no debt.
No debt. I just like the sound of that.

[Art-n-Marge]

Need an assistant? We are fortunate enough to have no debt (paid off everything the day I retired so we can stay at $0 debt), but I'd sure like to have some "mad money" to be able to caravan with you on occasion. Nothing like taking care of your own debt, eh?! Us tax-payers sure appreciate it.

So I guess I would be like most people because other than a mortgage to keep from paying taxes, except that I did this when I was 50 so I could have some youth to do some things upon retiring.

Great job on the plan and the execution! Another example of, "I thought I wasn't supposed to be as busy when I retired". Translation, "I might be busy, but the busy is all mine!".

[Ozz]

Art and Margie, You are on my list of people I want to meet and share a cup of coffee with. Thanks, I just did what I had to do, can't undo the past, should have done it better, but didn't.
My sweet Sue has been with me on this tough journey every step of the way, in 100 degree plus weather changing out A/C units, trying to keep me from passing out as I braze the line-sets. I couldn't have done it without her.

[H. John Kohl]

OZZ,
Great news. Thanks for sharing your situation with us not to mention your success story.

[drsmart]

OZZ. Congratulations. You took the bull by the horns and tamed it. Soon you'll be closing this chapter with a smile

[Ozz]

Thank you all, we are excited to be on the short run to the life on the road. We hope to attend rallies and travel to meet our MOC friends again.

[NCFischers]

Congratulations, Ozz. We hope to meet you some day.

[Ozz]

quote:Originally posted by NCFischers

Congratulations, Ozz. We hope to meet you some day.

I will make that happen, we can talk volts and amps over a cold one..

[clutch]

Congratulations on digging yourselves out of the debt crater. We did that when we were about 50.

[CORattler]

Great story! I like hearing about Americans that take responsibility for themselves, roll up their sleeves and make good things happen. Sounds like the both of you AND your customers benefited from your "adventure".

[8e3k0]

Thanks for sharing; and that's the way to go; we tighened our belts to be totally debt free prior to retirement and we mastered it!! it's a tempting world out there when it comes to debt load. I think the banks should have the term "shark" in there somewhere. Watched a program last night on television about the amount of debt that a great majority of our University students are carrying and trying to get degrees; Wow, pretty scary!! Many are carrying a $100,000 to 150,000 debt load and haven't even started in the work force! Interesting how marketing works; no more monthly payments; its weekly or bi-weekly as the amounts look smaller and attainable!

[ole dude]

Ozz, keep on keeping on--maybe we'll hook up one day and smell the freezone together.

[footloose]

Now that's pulling yourself up by your bootstraps. Good on 'ya.

[sreigle]

Excellent, Jim and Sue. We're very happy for you two.

By the way, we're back in the area (but not in Independence) so email me when you are not working those 7-day weeks and let's get together for lunch or dinner again. Salty Iguana or Corner Cafe, either will work. Or another if you'd found another one to introduce us to!

[8.1al]

Glad to hear everything worked out for you Jim, we hope to see you on the road againg soon

[rlwhit]

When we retired 8 years ago we were debt free except for the house. It sold, and since than we will never buy other than cash. If only more folks would plan to retire debt free. It makes living on a reduced income managable.

You had to work real hard to get there. Enjoy life!!!!

Dick and Toni

[Rondo]

Hey Ozz, maybe you'll be able to make the 2nd Central Plains Rally up here in Nebraska coming up on July 13-18th, 2011. It's going to be held at the same campground, Pine Grove RV Park and Campground, Greenwood, NE. just off I-80 at exit 420 between Omaha and Lincoln. Watch for more coming up around the first of the year, if not before, on the Rally! Glad you've been able to get things all sorted out and will be on the road again. Looking forward to finally meeting you! We missed you down in KC when Dave and Betsy were down there this last time. We had a good get-together and was really looking forward to finally meeting the "Legendary Ozz"! Maybe we'll be able to make that happen later this next year.

[Ozz]

Rondo, I am sorry I couldn't make it. I had to check out 3 houses for the management company, they had them rented, I had to do the mechanical on them. I work, or am on call 24-7 365.
This coming summer will be out of the question, I generally put in 10 hr. days every day. I am training a guy to take over the business so I can turn it over to him, but I am a little concerned about his level of commitment. Not everyone has 'The right stuff' for this work. Kids...
When we hit the road, we will get together.

[stiles watson]

Great!! Debt free! That's the way to be. It is a marked accomplishment. Free at last, free at last......Smile every time you think about it.

[mainer]

Congratulations to the two of you, what an accomplishment. You guys are definitely an inspiration to others. Now you will be able to totally enjoy your retirement...