I’m 37, and my husband and I have gone from $80k in debt to being completely debt-free, including our mortgage. We now have over $300k in savings, along with investments in stocks, retirement funds, and an education fund for our child. I’m wondering—what do people usually do once they reach this stage? Any advice or ideas?
I’d treat myself to a vacation. That’s exactly what I did when I became debt-free. But it really depends on what makes you happy.
It’s kind of like losing weight—you have to keep at it or risk slipping back. Stick to budgeting and watch out for lifestyle creep. Also, maybe don’t keep $300k in the bank. Consider moving a portion into investments, but keep enough for emergencies. Congrats on your amazing progress!
@Wilder
Great advice!
Debt-free at 37 with $300k in savings? How on earth did you do it?
Fern said:
Debt-free at 37 with $300k in savings? How on earth did you do it?
I’m in a similar boat—$300k liquid, $300k in retirement, and no debt, including mortgage. We never made a ton of money; the key was buying a modest house and paying it off early. I didn’t have student loans, and we’ve always driven paid-off cars. It’s amazing how much you can save when you don’t have big expenses.
@Hayden
That’s incredible! I’m 33 and don’t even have $50k saved.
Fern said:
@Hayden
That’s incredible! I’m 33 and don’t even have $50k saved.
I’m at -$30k.
You got this—you can turn it around.
Fern said:
@Hayden
That’s incredible! I’m 33 and don’t even have $50k saved.
Don’t be too hard on yourself. You didn’t get to buy a house for $80k like they did. $50k is still better than most people have!
@Hayden
Where do you live that you could buy a house for $80k? I’m in SoCal, and it’s impossible to find anything for less than $400k.
Bret said:
@Hayden
Where do you live that you could buy a house for $80k? I’m in SoCal, and it’s impossible to find anything for less than $400k.
Nebraska. Times were different then, though—our house is worth closer to $250k now.
@Hayden
I’m single, in Nebraska too, and also debt-free. Bought a house for $143k, paid it off by 32. If I could find a financially responsible partner, we’d be unstoppable.
@Hayden
Yeah, but… it’s Nebraska.
Save more. Retire earlier. Enjoy life.
Addison said:
Save more. Retire earlier. Enjoy life.
Exactly!
Addison said:
Save more. Retire earlier. Enjoy life.
Investing is key.
We’ve been debt-free for 15 years. Here’s what worked for us: we stayed financially conservative, avoided risky investments, and focused on flexibility. Being debt-free gave us the freedom to leave jobs we didn’t like and avoid money-related stress in our marriage. Congrats on reaching this milestone—it’s a big deal!
Check out financial planning communities. They’re great for tips on investing, tax planning, and managing money long-term.
First of all, congrats! Have you thought about investing in businesses or setting aside funds for early retirement? Keep up the good habits—you’ve worked hard for this.