Early next year (around February or March 2010), I’ll soon be making my last mortgage payment on my primary house.  I’ve been make extra payments for the past 11 years, and finally, I’m almost there.

After I pay off my mortgage, I’ll be able to increase my cash flow by $12,000.  I don’t know what I’m going to do that extra money yet.  I’ve been playing around with some ideas…  I do know that in some way, it will go into investments of some sort.  I’m not sure if I’m going to go with stocks, bond, rental property, gold or what yet… but it should be an exciting time and decision!

In some ways, I’ve been fortunate with my “paying off the house” decision.  The anxiety this year of companies laying off workers, and stock market losses in general, has definitely been lessened.  By knowing that I could pay off my house at any time, if I needed to, was a great relief.  Have the basic need of shelter checked off on the “to do” list is always a plus.

Initially, I had a hard time deciding whether to pay of the mortgage early or invest the additional money in stocks or other investments.   And to be honest, my choice wasn’t the best for everybody.  I decided to go the “pay off the mortgage early” decision because I didn’t think I had the will power to invest the difference in stocks, and the fact that I hate to be in so much debt.

So anyhow, that’s my current financial position.

I feel like I’ve completed a large step towards financial independence.  Unfortunately, there appears to be 3 or 4 more steps to go.  But I do think this 1st step was the hardest.  I now have a “I can do it” attitude.