Paid in Full! Then What?

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I think one of the main reasons I keep going back to my cycle is the fact that I don’t plan past my debt elimination goals. There’s a certain direction I want my life to take but I’m afraid of planning so ambitiously without first accomplishing these more immediate tasks.  But now I’m starting to think of that stage as something I might need to specify so I can have something to look forward to.  I guess its responding to the question, then what?  At first it was establishing myself; buying a car, a place to live etc.  Now it has to be more.  So here are the things I want to achieve:

  1. I want to own multiple properties in my area, rent and manage the properties and reinvest the income to acquire more properties.  I also want to teach myself to invest intelligently in stocks and bonds and profit from that as well.
  2. I want to reduce my hours of working for a company to the minimum I need to stay on their health insurance.  I understand I sound like an opportunist when stating this so bluntly but I think that’s one of the perks of working for someone else; certain things cost you less because their price is being passed onto someone else.
  3. I want to take lessons in cooking, wine tasting, painting and some sort of martial arts.  Basically, I want to spend my time and money on learning skills that I always wanted to have.
  4.  I want to be able to travel extensively, especially in the winter.  Every winter, I look out my office window to the grey and brown wasteland that is the office park and adjacent street and realize I’d rather be anywhere else but here.  Upon achieving my debt payoff goals I would like to be able to travel for at least 2/3rd of the winter to warmer locations.
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2 thoughts on “Paid in Full! Then What?

  1. I think you’re spot on. Anytime you don’t have another goal to work towards, you run the risk of falling back into your old pattern. You always want something else to look forward to.

    here’s my humble opinion on your plan (although you didn’t ask lol)

    1. YES! housing is a limited resource because there’s only so much land. but there will always be a need for it. not to mention, at the rate we’re going, it doesn’t look like we are going to stop reproducing anytime soon. what state are you from if you don’t mind me asking? where i am, a one bedroom rents for $1k and a 2-bed can rent for as high as $2k.

    2. that’s not opportunistic, that’s smart. you have no loyalty to any employer. their loyalty to you is limited to what you can do for them. why can’t you be the same way?

    3. i’m not artistic enough to paint but i think i’ll steal your idea about wine-tasting…

    4. if only i could convince my husband to leave this ice block… i’m over it! i want to be rich enough to spend the winter enjoying the carribean, SO CAL & new orleans. someday…

    Like

    • Haha its ok, I love opinions (its a blog after all)

      I live in the DMV area and rent here is absurd. An “affordable” one bedroom here is about $1300-$1500 but can go up to $2000 or more depending on convenience for travel (the commute is horrendous). This is why I thought it was cheaper in the long run to buy a property than rent.

      Like

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