Thursday, December 26, 2013

Retirement state of mind

I feel like my last post needed some explanation. Our master goal is to work smarter, not harder in the areas that we can. Short of winning the lotto we have to work to pay bills but we can change what we're working towards.

We live off one income, we also have and it's something that works for our family. My job is to make the most of that pay. This year the focus is on making that pay work smarter by having less for it to cover. Yes, at first it's not going to be easy..that's to be expected. It's going to take time, no quick fix here! Over time the paycheck will have less to cover and go farther by nature.

In terms of the house, it's a catch 22. We'll be living here for at least the next year while I focus on making the bills smaller. I'd love to move at the same time but we need to keep in mind this will take baby steps to work properly. We can't afford a move, rent, mortgage and focus on debt reduction all at the same time. So, bills first..then the house :(

Most people won't understand our housing decision, that's okay. Yes I know home ownership is supposed to be the American dream but not for us. For us, home ownership is labor we don't have time for, repairs we don't have the money for and a yard no one uses. Our money and time is better spent renting where repairs and labor are someone else's worry, the yard is someone else's concern and we can simply enjoy our place. I'm aware that we might not like the neighbors..that happens anywhere. And yes I know we're going to pay more monthly but we're willing to pay for amenities to enjoy and not worry about the upkeep. Honestly we don't have room for a pool or gym and even if we did they'd just be another thing we'd be trying to pay off and something else to take care of. There's just no point in that. We'd rather it all be included in the rent :) No, I won't be able to "put my stamp on everything" and I'm completely okay with that. I don't need to paint walls, tile backslashes or install a floor to feel like a live in my space. Personal artwork, furniture and memories will do that just fine. We have zero desire for renovation at this point in our lives. We bought this house with great expectations and have realized we wanted someone else's dream.. ours is less complicated. :)

In essence my goal for my sweetie and I is to live in a retirement state of mind…as little stress in the way of housing and bills as possible..more money in savings and security. I want to go on vacation to see family and worry less about..everything! At the end of my plan our only commitments that involve our dally life will come with early termination fees if we choose. That's freedom!  I'm well aware that this all won't go off without glitches..something is bound to go wrong. I expect it..that's why it's a 3-5 year for trouble.  I'll keep you posted on how all this planning plays out in the real world. Keep watching in 2014 :)

Do any of you lovely readers have a giant plan underway?

1 comment:

  1. Thing is, the American dream of the 50s may have been to own your own home but in the 00s it is simply not economical or feasible for the majority of us. Owning your own home is full of "hidden" costs that can make you crazy. You pay in time or in money. There's always a cost.