Long Term Financial Goals

You’ve read our debt free why, which hints at some of our long term financial goals. But why are we trying to get out of debt so aggressively, down to our car loan and student loans? We view our debt as the first step in achieving our long term financial goals, and I thought I’d share those with you because I always find it inspiring to read other people’s long term plans. If you are trying to pay off debt but don’t have a debt free why or a long term plan I’d highly encourage you to take some time to brainstorm what’s ahead of you- otherwise your journey will feel even more monotonous and perhaps even aimless.

Our career goals are perhaps a little non-traditional. My husband has already achieved his goal of becoming self employed and intends to stay self- employed for the foreseeable future. I am currently working as an ophthalmic technician which has made us realize that having multiple income sources provides us with a stability that the self-employed construction path often lacks. I also have a BA in Creative Writing. However, I have never been very career driven and see myself staying at home with our family once we start to have children. So, we have been brainstorming ways to achieve having multiple income sources without me necessarily always working outside of the home.

We currently own our first home, a fixer upper that we purchased with the intention of making a profit when we sell.  We plan to stay in our home for about 2 more years, more or less the amount of time we foresee our debt payoff taking along with finishing the repairs we need to do in order to sell the house (everything is on hold as we pay off debt). After we sell our house we intend to use the equity to buy a house that we can rent out OR buy another fixer at auction that we can flip. Either option provides us with the ability to eventually reserve cash to build my husband’s dream business- flipping houses and full time construction.

At some point we will purchase more of a forever home with enough land on the property that we can have a little livestock to add to our income potential. We also have dreams of being self-sufficient- having a garden and raising our own meat. I see myself dealing with the business side of this dream. My dream job is honestly being a homesteader. I love nothing more than taking care of the home and would quit my job in a heartbeat if it meant I could garden, preserve food, tend animals and take care of my babies. I may be naive about the work this involves, however, I am willing to rise to the challenge.

Ultimately, my husband and I are both creative people. He has dreams of woodworking and I have dreams of working creatively from home in some fashion. Having these multiple income streams will afford us the ability to spend less time working just to survive and more time enjoying family and the work and lifestyle that we have in our hearts to live. We have simple, old fashioned dreams of working with our hands and having seasons of work that are full and seasons that are slower. I want to teach my family to eat traditionally, grow their own food and enjoy the fruit of a simple life.

Right now the discipline of debt payoff isn’t an easy one. We sacrifice a lot that we see other people our age doing- going out, driving nice cars, buying the home of their dreams.  But I’ve never really cared about material possessions enough to sacrifice the rest of my dreams for them. I love the house we live in and it will be sad to sell it, however, again, I care more about our lifestyle than our house. We are both working full time at jobs that we don’t see ourselves working forever so we can get out of debt ASAP, which is building character and teaching us that anything can be endured for a time if there’s an end goal in sight.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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