Wife and I look at all our friends and how they're living so far beyond their means and are thankful we don't live with that kind of stress.
Many of our son's friends families have lost their big homes and had to downsize into homes smaller than ours. All their "toys" like ATV's, boats, fancy cars are gone too. Those were very valuable conversations to have with both our sons. At 19 and 17 they "get it" that financial stability and discipline are big enablers of a stress free life.
” - - versus those who are saddled with debt is priceless, isn’t it?”
Yes.
We have a friend our age, he retired by refinancing his home to pay off his debt (I know, he’s still in debt). Then he refinanced it again to get more to spend. Then he bought a new motor home and bragged his payments are $500 per mo.
He can’t sleep nights, very moody, many health issues I think are nerve related.
I hate to rag on him, for he, like so many, have a very self destructive issues. I’ve given him advice about getting counseling, like an alcoholic, he just thinks it does not apply to him.
Yes, it does feel good to be financially secure.