Joe
Seems like you are on the correct path to economic freedom. Like Ron and Fred, I paid cash for all of my cars except for my first one I bought in 1970 - my 70 Olds 442, which I still have. Always pay my credit card bills 100% on time and the full amount like Ron and Kristen. Your credit rating is really affected by "late payments". Do NOT be late on any credit cards. Like Fred said, its best to get rid of all credit cards and pay cash for everything.
Studies have shown that people who pay cash for everything spend about 15 to 20% less than people who charge everything. I tried that about 15 years ago, but I like the convenience of the credit card. But I use ONE card for all things that I do charge ... and they are automatically paid out of my checking account. I also pay all bills via an e-bill set-up thru my bank. No stamps, no envelopes, and set up automatic payments whenever possible. Then just download everything from the bank to Quicken. It makes things very easy. And I can see where I spend my $$ ... mostly food and health insurance takes up about 50% of my pension.
Like Fred, I paid off my house a long time ago and retired at 54.5 years. But I did not have the benefit of extra income from the Humpin' Ho Sisters.
I had targeted 55 as my retirement age way back in the late 60's and I made it. But I saved approximately 18 to 25% of my salary
each and every year while maxing out my company 401K and my IRA. With a LOT of help from the stock market, I retired early. If I had not "PAID MYSELF FIRST", I can guarantee that I would be working well into my 70's.
Keep up the good work.