I think I can answer this with one word – “NO”. The reason that I say this is because of the ever present existence of property taxes and utilities. Maybe 100-200 years ago a person could go out west and stake a claim of land live the remainder of his life debt free. In today’s society in most States you must pay property taxes, water, sewage or something equal.
You could live in the country and have well water and a septic tank but then there’s the taxes. You could pay for water but live in a state with no property taxes. The bottom line is that yes, you could be debt free but for 98% of us it is just a fantasy.
My new definition of being debt free is to be current on all bills, no credit card debts, loans or outstanding medical bills. With a house payment is ok but a paid off home is the ultimate that a person could hope to achieve in being debt free.
