Wednesday, August 31, 2016

Retirement Goals - Update


Early this year I did some financial planning and was thrilled to discover I will be able to retire on time.  Up until then I was hopeful about that, but not certain.  Now I am certain.  In fact, I have an actual retirement date.  

August 31, 2029.  

Thirteen years from today!

Soft and pretty pink chenille pillow

Quilted throw pillow


Thirteen years may seem like a long time yet, to some, but I happen to know just how quickly that time will pass.  You see, my youngest will be 13 on her next birthday and I feel like it was only yesterday she was this cute little baby.  It goes by really, really fast!

Pretty handmade doilies with vintage buttons


I could retire at age 62, if I choose, but financially it makes more sense, as long as my health holds out, to wait until I'm 65.  Mainly it is because of health insurance.  My employer provides health insurance for me and if I retire at 62 I will not be Medicare eligible yet.  Rather than pay for private insurance it makes more sense for me to keep working and keep my health benefits while further padding my retirement accounts.

Love these lamps!

My first piece of furniture - acquired and redone

I have a lot of plans and many goals to accomplish between now and then.  I'm sure this will come as no surprise, but I have a lot of lists written out to help get me their too.  Some of those items are checked off and others are waiting to be.  I have been plenty busy working on those things too.

Love this rooster tea towel.  Super fun project.

I named him Roger

My plan is to eliminate debt and build up my savings account so I will be ready to purchase a house in the next three years.  Then I will be working to pay that house off in ten years, before I retire.  The house I currently own will then go up for sale and the proceeds of that sale will be rolled into my savings to further pad my retirement funds.


Pillowcases

...more pillowcases

... and more pillowcases

In the meantime I have a monthly budget set up to work on smaller projects to help me furnish and set up my future home.  You’ve already seen quite a bit of what I've been working on.  It has been super fun and keeps me motivated.


Once the house is purchased I will be working on it to get it retirement ready.  Updates, painting, furnishings, whatever it needs to make a comfortable home for an active retired lady.  I'm sure there will be a whole new set of lists to help me make sure it all goes according to plan. 

A warm and cozy quilt

Another in the works

I am really excited for my future and I hope and pray it all works as I hope it does.  Not always do things go according to plan but I'm hopeful and optimistic.  Of course, whatever is meant to be will be as I know I am bound by His plan and not necessarily my own.  And that will be okay too. 

Vintage Pyrex

Pretties from my collection

Love, love, love this dessert set

In the meantime I will just keep on keeping on.

8 comments:

  1. Best wishes on your goal, and how wonderful you are planning ahead.. 13 yrs will past before you know it [my daughter was happily telling me, this past weekend] that she has 12 years to go , before she can retire.. She is a high school teacher, and she is anxiously awaiting and planning for it.
    Are you planning on a smaller home or a larger one for retirement?
    ENjoyed seeing all your lovely things.

    ReplyDelete
    Replies
    1. My current home is at 1000 sq ft so I don't want to go bigger than that. My main thing is to find a single story home. I don't want stairs to worry about.

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  2. will you be buying a smaller house

    ReplyDelete
    Replies
    1. Smaller would be just fine with me. 600 to 800 sq ft. Not more than 1000.

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  3. Replies
    1. Oh me too! Thank you. I love collecting it. And using it!

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  4. I love this post. There is so much goodness packed into it! Our first home was an older 999 sq.ft. and now we're in an 1,800 sq.ft. Looking back, I wish we had stayed in our first, smaller home. It was comfy, had character, and I adored it. It was very "retro" which I love: hardwood floors, brick fireplace, an old O'Keefe & Merritt stove, and not much storage space! Most people would think more storage space is better, but I actually prefer less - it keeps shopping and clutter in its place, to a minimum!

    D.

    ReplyDelete
    Replies
    1. I agree with you. My favorite home I ever lived in was under 800 sq ft with hardwood floors and itty bitty closets. Built in 1946 and very charming. I miss it. I hope to find another one some day.

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