ChrisTexas
Dryer sheet aficionado
Hi, I am retired Navy, got remarried 3 years ago and then we decided to foster 2 children. We are now adopting them but during a cruise in Alaska my wife got pregnant. Even though I am older, I realize if I retire, I can raise these 3 girls as I will be around most of the time.
Here is the 7 year plan: My current home and rental home equity should be high enough in 7 years to build and pay for a house on some land we own in a smaller country town. I will leave my job in a little over 7 years, almost age 60.
In about 8 years I will be drawing 2 pensions that will be about $65K a year combined. When I draw social security, probably around age 65, I will be paid a higher amount since I have little kids.
We have about $335K in retirement accounts and are adding over $20K a year. We have another $50K in investments and emergency funds.
We plan on living on 10 acres, lots of gardening and a few cows. We also plan on going on an extended vacation to Europe for 6-9 months, we will home school during that time.
Our frugal life of cheaper cell phone plans ($54 a month for 2 smart phones), Netflix (no cable), and carrying no debt is accelerating our savings for retirement.
Exciting future. I keep telling myself I will be old for these children but I will offer them lots of time and experience on our land and traveling.
I enjoy reading these forums for even better ideas we can use!
Here is the 7 year plan: My current home and rental home equity should be high enough in 7 years to build and pay for a house on some land we own in a smaller country town. I will leave my job in a little over 7 years, almost age 60.
In about 8 years I will be drawing 2 pensions that will be about $65K a year combined. When I draw social security, probably around age 65, I will be paid a higher amount since I have little kids.
We have about $335K in retirement accounts and are adding over $20K a year. We have another $50K in investments and emergency funds.
We plan on living on 10 acres, lots of gardening and a few cows. We also plan on going on an extended vacation to Europe for 6-9 months, we will home school during that time.
Our frugal life of cheaper cell phone plans ($54 a month for 2 smart phones), Netflix (no cable), and carrying no debt is accelerating our savings for retirement.
Exciting future. I keep telling myself I will be old for these children but I will offer them lots of time and experience on our land and traveling.
I enjoy reading these forums for even better ideas we can use!