It’s amazing how our priorities can change in such a short amount of time. In 2016 we were blessed with our first child, Abel and, almost immediately, we knew our career goals and priorities were shifting.
First, Allison, left her job by our son’s 1st birthday, thanks to our growing side job, 3 Nails Designs.
My shift in goals came around later. I’d been hanging around early retirement blogs for years, but I thought it was something for me once I retired from the fire department at 38 with 50% pension. Most of the time, I truly enjoyed being a firefighter. That held true until mid-2016 when several things began happening at once;
…which leads me to our goals.
1. Build a real estate portfolio that allows me to walk away from the fire department on July 1, 2022.
At this point in time I will be vested with the firefighter’s pension and have the ability to withdraw my contributions (9%) and my employer’s contributions (14%), which will be in the neighborhood of $85,000 (before taxes).
We currently own 3 single family rentals and are working towards a small multifamily property (4-8 units) for 2018. Real estate likely won’t cover all of our expenses though; we plan to continue working to some extent. If necessary, I plan to find a full-time job for 2022 and 2023 until we can purchase an additional multifamily property with my pension withdrawal
2. Be amazing parents to our children and spend as much time with them as possible.
Truly being present with them while they’re young is our highest priority. By 2022 our son will be 7, our daughter will be 5, and they’ll just be entering school. Riding bikes with them to and from school, playing, teaching, helping and being there for them.
3. Focus on our marriage
Our goals aren’t just about for our kids. I loved her first.
4. Mortgage Free by September 2025
We purchased our home in 2015, and we’re on track to be mortgage free in 10 years, which will decrease the monthly income we’ll need.
By 2022 I’ll be financially free and focusing on my family and whatever I’m passionate about at the time. Stick around to watch it unfold.
What would you do if money wasn’t a worry?
What are your goals?
Let’s talk about it in the comments.