The awesome bloggers over at Our Next Life shared an intriguing post on their blog about what their “next life” will look like after they begin early retirement. They invite other bloggers to continue the series and share their own daydreams of what their “next life” will be like – after they reach whatever goal they’re planning for, such as paying off debt or achieving financial independence. Feel free to write your own post and link back! Who’s in?
My take on this series will be considerably different from mr and ms at Our Next Life. Their goal is early retirement, and mine is paying off 100,000 dollars of student loan debt. The fun thing about this series is that it gives us all a chance to see a variety of different goals and outcomes.
Some questions you may wish to answer in your post:
- What will your transition be like? Will you be quitting a job? Making a move? How will all of that go down?
- What are the big goals you have for your next life, or just the goals for the first five years or so?
- What are the little day-to-day goals you have for yourself?
- Will you quit working, change what you do for work, or stay the course?
- What will a day in the life look like?
- How will you manage your finances in the next stage?
- What will excite you about getting out of bed every day?
What will your transition be like? Will you be quitting a job? Making a move? How will all of that go down?
My husband and I plan to have our 100k of student loan debt paid off by July of 2018. Once the debt is paid off, we will save for a home. The biggest transition will be FINALLY moving out of my parents’ house! I am so beyond grateful to my parents for allowing my husband and me to live with them. It’s the reason we are able to pay our debt off in three years.
That being said, it’s not easy to live with parents (or in-laws) as an adult. It’s particularly tough when there are five of us in one small, very crowded house (my older brother also lives with us). Needless to say, buying our own home is something my husband and I are extremely excited about.
What are the big goals you have for your next life, or just the goals for the first five years or so?
- Purchase a home. It definitely will not be the most expensive home we can afford – we have learned a lot from being in debt and neither of us want to ever live paycheck to paycheck.
- Adopt two pugs.
- Consider starting a family (we’ll start with just the pugs :) ).
What are the little day-to-day goals you have for yourself?
Be okay with splurging a little on experiences that will actually benefit us – like travel, gym memberships, a yoga studio membership, rock climbing package, and/or occasional date nights. While I’ve been on this debt repayment journey, I’ve found that I really don’t miss spending money on “stuff”. I don’t need new clothes all the time, and designer purses seem silly and wasteful to me now. But I do miss spending money on experiences that provide value to our lives.
What will a day in the life look like?
I will come home from work in the evenings and be greeted by two adorable pugs. My hubby and I will actually be able to afford to have date nights. We will be able to say “yes” when friends invite us to do fun things that cost money.
What will excite you about getting out of bed every day?
Having my own place to live – when you live with your parents, you have to abide by their rules. They are doing you a huge favor by allowing you to live with them, so it’s only fair that you follow their rules. There are SO many things I will be able to do when I have my own house and I can set the rules, like:
- Parking in a garage EVERY day. Not having to put a cover over my car’s front windshield and scraping ice off the side windows and back window every day in the winter. Knowing that my car will actually start (probably) every day because it hasn’t been sitting outside in -20 degree temps.
- Leaving the dishes in the sink for more than 30 seconds when I just don’t feel like doing them.
- Blaring music while I get ready to go out or while I do chores.
- Using the bathroom or kitchen whenever I want. Not having to wait for someone to finish smoking before I can use the kitchen.
- Inviting friends over anytime.
- Making sure my dogs are properly trained, not aggressive, and taught not to beg.
- Organizing and decorating the house the way I like it.
These may seem like insignificant things, but when you’ve lived with your parents as long as I have (27 years, minus a couple years during college), these things are huge.
Thank you for writing an inspiring post! Living with my parents is challenging, but it will be well worth it when all of our debt is paid off!
Love this! Thanks for adding your vision to the series. :-) It’s awesome what you guys are doing, and I’m sure the hardship of living at home will pay off big time when you reach your goal of tackling your debt, and then can buy your own place.