Inquiring Minds Want To Know
Our goals are plastered all over this site and we’ve been writing about them forever. Now, Mad Money Monster wants to hear all about your personal financial goals and how you plan on getting there. You just might be featured on our site or be asked to write a guest post.
Happy Saving!
23 Comments
First off…glad to have you back blogging! As for the goals, my primary financial goal is to get out of debt. After that I want to learn to save so that I can stay out of debt. That’s it for now. Trying to keep it simple!
Thanks! That’s a great goal, and one that most people don’t have. We are certainly on the same path. Most of our debt these days is mortgage debt. That’s supposed to be “good debt” but I think I disagree. All debt is bad 🙂 Keep us posted on your progress!
Mrs. MMM
My goal is to pay off all of my medical bills without taking on any debt. I am doing this by cutting daily expenses I never thought about before. And I’m trying to do this while starting my journey to financial independence and hopefully early retirement. A devastating health diagnosis is not the end of my financial world!
Yeah, unfortunately, medical bills can derail anyone. It sounds like you are using an unfortunately situation to enhance your entire financial future. Kudos! Keep us updated on your progress!
Mrs. MMM
No debt, smart spending and the ability to work if I choose to. Very simple !
It is truly amazing how no debt and a responsible fiscal plan can set you free. Congrats!
Mts. MMM
The mortgage is paid, we are debt free, we’ve invested for our entire working careers, and now we’re on our Encore Voyage – Working how and when we want, exploring, reinventing ourselves. And as we have no children, our joke is now, “How do we check out of this life with a net zero balance?!!!” (How much to charities, church, spending, travel, etc.) It’s an interesting problem to have! And hopefully we won’t be “checking out” anytime soon!
It sounds like congratulations is in order! I imagine it’s a wonderful feeling to have your money “problems” 🙂
Mrs. MMM
Let’s see, on the home stretch towards what I hope to be a somewhat early retirement. Goals: paid-off primary residence, muni-bonds coupons to cover non-discretionary expenses, stock dividends to cover my discretionary expenses, mutual funds to deplete to cover my wife’s discretionary expenses, and two years’ expenses in cash to buffer.
Best case, a business deal matures in four years to put us over the top. More likely, we continue to work and build up until the nest is empty in eight years, then downsize and transition.
Very nice! It sounds like you thought of everything. I really like the most likely/best case scenarios. I’m rooting for a business deal to mature! Keep us posted.
Mrs. MMM
Paying off debt while balancing family and work life and focusing on healthy choices. Trying to overcome my binge-purge urges — I tend to go super-hard at something, until I burn out and then swing far in the other direction. Bringing things into a comfortable middle ground!
I know all about goal fatigue. I have experienced it many times. Reading and writing blog posts sure does help though, doesn’t it! 🙂
Mrs. MMM
Our financial goal is to save enough so that we don’t have to have any paid work for the ten-years from 2017 to 2027 when our pension income is available – in the UK this is a mixture of state pension paid at 67 years and workplace pensions. Although we live fairly frugally we want to have enough money to be able to run our campervan and take trips of two or three months at a time in southern Europe while we are still healthy and able. We are nearly there and just have about nine months more of paid corporate working life left.
Sounds like a great plan! It must be wonderful to see the light at the end of the corporate tunnel. Mine still shines bright with fluorescent lighting. Ha!
Mrs. MMM
GOALS
#1: Be completely debt free in the next 20 months at our current pace.
#2: In approximately three years, take on a “mortgage” to buy a home (aka a truck and an Airstream) and hit the road with my family as a traveling nurse.
#3: Once debt free and living on the road, max out retirement contributions and IRA’s, while also stacking away money in a taxable investment account.
#4: Continue this lifestyle for the foreseeable future while homeschooling our son and immersing him in incredible life experiences and hands-on learning opportunities.
#5: Reach financial independence and retire early by the age of 45 (I’m 29 now.)
#6: Continue loving life! 🙂
Wow, I LOVE it! I love love love the Airstream idea. I often talk with Mr. MMM about an idea like that. Some nights I catch myself surfing the internet looking for vintage travel trailers. Please keep us updated on your accomplishments along the way. Congrats!
Mrs. MMM
We’re really looking forward to it! 🙂
I love the IDEA of a vintage one but the model I’m eyeing (Airstream Flying Cloud 30 FB Bunk) just started in 2014/2015 so I’m not seeing any used ones for sale yet. Hopefully within the next 2-3 years, when we’re actually ready to buy, that will be a potential option. Without the proper tools and what-not, I don’t feel like a remodel of a vintage trailer would be within my capabilities so it’s quite likely a newer/brand-new one will be our likely go-to…thus, the reason I mentioned the mortgage”…lol.
The model I mentioned is awesome because it has a bedroom for me and my wife on one end and a bunk style bed area on the opposite end that would be perfect for our son to have his own private area, as well. We are going to Denver in a few weeks for a little getaway and are actually planning to stop at a dealership and check the thing out in-person. I’m really hoping that it’s as spectacular as I’ve got it built up in my head from researching and viewing pictures online.
I’ve been thinking about writing a post about our longer-term goals such as this…so maybe I’ll get to working on that! 🙂 I’ll definitely keep the progress towards that up-to-date. Please let me know if you guys further consider it, as well. Maybe we can share some tips and/or, one day, meet up on the open road! 😀
You definitely need to write about this new and exciting venture! You must let me know if you love it in person just as much as you love it in your mind. 🙂 When I say “vintage” I’m talking about a vintage trailer that someone else already updated. Mr. MMM isn’t all that handy and I don’t think I’d be up for such a challenge. Please keep us posted!
Mrs. MMM
lol! I couldn’t agree more; I’ve read several blogs about remodeling those vintage Airstreams and the amount of work that goes into it is staggering! The crazy thing is that by the time you pay others to do all that work, you’re about at a price point that is comparable to a brand new model, of which comes with brand new plumbing, appliances, etc. Maybe I’m rationalizing the purchase of a new model a bit…but whatcha gonna do? 😀 lol!
Please keep me posted on your ongoing pondering, as well! 😉
Hey! I thought I would let you know that, although we unfortunately didn’t make it to Denver, we did make an unplanned trip to Illinois and were able to stop by an Airstream dealer in Missouri on our way back home. As our luck would have it, they had just sold the model I wanted to see and it had been picked up the day before; however, we did look at several other similar ones and I must say that the quality of an Airstream is second to none. Obviously, the price tends to match that quality! lol
Anwyay, I’m definitely still in love with the idea of the Airstream but we are gonna keep our options open and check out some Class C’s when we have the opportunity. Going that route would allow us to keep and tow our Jeep, as opposed to having to buy (and finance) both a truck and the Airstream, thereby saving us some serious dough. So many options! Thankfully, we’ve still got plenty of time in the planning phase before executing our plan.
Any updates to report on your possible plans of doing this? Still surfing the net for vintage trailers? 🙂
Goal 1: Pay off revolving debt
Goal 2: Continue developing the extra skill I’m learning that will double my take home pay
Goal 3: Save up DP for condo with a bathroom of my own
Goal 4: Supercharge my retirement and investing accounts for two years so I can
Goal 5: Only work for my own LLC afterwards
Goal 6: Achieve Financial Freedom in 5 years
Goal 7: Pet puppies
We hope to hit financial freedom in about 5 years too! I love your 7th goal. That is definitely worth achieving 🙂
It’s a goal I try to achieve every day. Makes life!