We’re debt free except for our mortgage which is a low payment anyway. In a few months the house will be sold for a large profit and we are building a 981 sq ft 2/2 on our rural property. Then we’ll be totally debt free with a brand new house and one brand new vehicle.
We too are debt free (no mortgage), my wife retires this year and I have at least two years left. Our plan is buy or build smaller where we’re going to retire to (while I am still working) then sell the current house, pay off the retirement “estate” and then bank the equity.
Been there done that. We moved from a suburban 4 bedroom home to a small 2/2 cabin in the middle of nowhere at retirement.
Kinda regret it.