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Longer Term Goals

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    Longer Term Goals

    The zombie-like return of the 2019 goals thread started me thinking about the future, and I realized that there seems to be a tipping point at which everything just starts rolling faster and faster. It's almost bewildering, but somehow our future plans are coming together remarkably well, and very favorably for us. So take a look ahead with me...how are your longer-term goals shaping up?

    Our near-term goals over the next 3-4 years will mostly revolve around 3 things: (A) Paying off our next house within 3-4 years; (B) getting above $1M in taxable/retirement/RE investments (excluding our primary home), probably by ~2021; and (C) Me finishing my Masters degree & DW earning her DPT to become a physical therapist (her life's career goal). Beyond that, we'll basically be building up non-retirement investments (both MF's & RE), and along the way our retirement accounts should hit ~$1M around 2025, with non-retirement investments not far behind. And by even very rough numbers, all of those estimates are looking highly plausible.

    Mid-life "end goal" is shooting for my "retirement" on 1 June 2028 with a $2M+ net worth, plus 1.3 military pensions totaling ~$75k/yr in today's dollars (DW recently got medically retired on 30% disability). All of which means we'll have the freedom to do whatever we choose by the time we're ~42-43 y/o, with our boys not even in high school yet. Frankly, we haven't figured out quite what we'll do with that freedom, but it'll likely involve some kind of occupation for both of us to stay suitably busy, church/charity work, and liberal traveling. Potentially/hopefully, something that combines all 3 of those into one awesome second career. For one, we're definitely planning to serve a multi-year mission for our church after the boys leave the house.

    I'll acknowledge that nothing is assured...I could get booted from the military, stock & real estate values could crash, and so on. But the glide path is looking pretty sweet, even using somewhat conservative numbers. I guess my bottom line is that there's alot to hope for and look ahead to. My wife & I both started with basically nothing. Sure, I got a "free" college education (sold my soul to a military academy) & DW had a ~50% scholarship...but otherwise we've been on our own since graduating high school. Both of our families were (are) quite middle-class (her dad & my mom both teachers, her mom mostly SAHM, my dad a military/NOAA meteorologist). But over just 12-15 years, DW & I have built ourselves into a very strong financial position, and it's all moving so fast now that we could even just let it ride with no new investments & we'd be just fine.

    So sit back, watch the ball roll, and be happy. If you haven't hit that tipping point yet, keep working & you won't even realize that you've flown right past it until you look back one day and see your goals racing toward you. And dream! Anticipation is half the fun!
    "Praestantia per minutus" ... "Acta non verba"

    #2
    Kork,
    Congratulations-- and to quote "Hannibal" Smith from the A Team, "I love it when a plan comes together!"
    I noticed from the other thread that you are renting a furnished apartment for 7 months. Did you already sell your house in preparation for your upcoming move? If so, it sounds like it will a lot less complicated when you do make your move.

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      #3
      Originally posted by Like2Plan View Post
      I noticed from the other thread that you are renting a furnished apartment for 7 months. Did you already sell your house in preparation for your upcoming move? If so, it sounds like it will a lot less complicated when you do make your move.
      No, I'm on an extended temporary assignment with the military, so I'm on the east coast as a geographic bachelor. The apartment is where I'm staying out here, while my family is still at our house back in Alaska. But as painful & stressful for the family as this is, its was also the best way to get into a field that I've been trying to break into for most of my career, which could also very easily turn into a 2nd career after the military. So this was an interim step to some more long term goals.
      "Praestantia per minutus" ... "Acta non verba"

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