Mountain_Man
Dryer sheet wannabe
Have been working on financial freedom for years. Always thought it would be better to make sacrifices when young for two reasons; First the power of compounding and second it's easier to be poor when you are young then when you are old. javascript:wink()
We have no debt of any kind + 2 very young kids. We own a small condo($260K) and a beautiful plot of land in the mountains($220K) where we want to move within the next 3 years and build our dream home which will cost about $450K to build. Our IRA's combined stand at $170K. We have various stock 30%, bond 40%, and cash 30% taxable investments totalling $740K. We live on one base salary which is $75K/year, but usually have good commissions of $40K+ on top of that which we invest. Enjoy the job. We also have $22K in a 529 savings account. No pensions. We are in our mid-thirties.
Concerns/questions:
We need a larger home for our family soon. Selling the city condo and using the proceeds to build in the mountains is under consideration as is buying a bigger place in the city to live in for the next few years.
The job opportunities in the mountains are not so great. Considering proposing a telecommunting position to present employer or searching for a similar type position with another firm.
Have worked very hard and made many sacrifices up to this point. Now with young kids, the goal is to take the foot off the gas a little bit to spend time with them and each other. Have already dropped one income.
Dream is to live in a comfortable mountain home surrounded by family and a couple of dogs and do things that are both intellectually and physically stimulating.
Thanks in advance for any suggestions.javascript:smiley()
We have no debt of any kind + 2 very young kids. We own a small condo($260K) and a beautiful plot of land in the mountains($220K) where we want to move within the next 3 years and build our dream home which will cost about $450K to build. Our IRA's combined stand at $170K. We have various stock 30%, bond 40%, and cash 30% taxable investments totalling $740K. We live on one base salary which is $75K/year, but usually have good commissions of $40K+ on top of that which we invest. Enjoy the job. We also have $22K in a 529 savings account. No pensions. We are in our mid-thirties.
Concerns/questions:
We need a larger home for our family soon. Selling the city condo and using the proceeds to build in the mountains is under consideration as is buying a bigger place in the city to live in for the next few years.
The job opportunities in the mountains are not so great. Considering proposing a telecommunting position to present employer or searching for a similar type position with another firm.
Have worked very hard and made many sacrifices up to this point. Now with young kids, the goal is to take the foot off the gas a little bit to spend time with them and each other. Have already dropped one income.
Dream is to live in a comfortable mountain home surrounded by family and a couple of dogs and do things that are both intellectually and physically stimulating.
Thanks in advance for any suggestions.javascript:smiley()