We have only one debt, the mortgage. We bought this house in August of 2011. We pay about double the mortgage+interest. (Taxes and insurance are on it too but we don’t double those.) We have paid our mortgage down by just over 1/2.
We max out IRA’s for both of us. Due to being self-employment we do traditional IRA’s. Easy to do with no consumer debt.
We also max out a family HSA. We have health insurance that is about $1200/month for dh and me. High deductible of over $5000. I was in the hospital earlier this year for 4 days. When the bills started coming in, we were able to write a check for each one. Many many times over the years of almost 37 years of marriage that was not the case. It makes it easier to be sick when you have no consumer debt.
We will be taking dd (30 yo, living at home) for a medical procedure. We will have to stay overnight. The hotel bill will be cash flowed. Easy to do with no consumer debt.
Kinda see a pattern here? For so many years we had some level of debt. Some years more than others. When you get rid of it all though, it is hard to go back to that lifestyle.