SM and I are having THAT conversation again. Downsizing. Should we buy a "fixer" out in the country? Should we do it now or wait a few more years?
I've always been a saver. It bugs me that our savings account has been stagnant for the past 2 years. And so I start thinking. And a "Thinking Tami" is a dangerous thing. (grin)
It's bad enough that the "great recession" has caused our incomes to drop. SM has been self-employed with all the hiccups that that brings. My employer has had us on reduced hours for over 2 years.
But in a way, the "great recession" has been a good thing. It's been a wake-up call. What is our future going to look like? We are closing in on the "golden years"...How can we help keep that future secure?
We hope to always be able to work for our expenses, but what if we can't?
That's why I'm so interested in the "homesteading" lifestyle. If we can supply much of our basic needs by having an orchard, garden and livestock (chickens, pigs, goats) wouldn't that "investment" help secure our future?
What can we do to live on less? The most obvious answer is to get rid of the mortgage by purchasing a smaller place. A small house with enough land to allow for more freedom in pursuing this lifestyle.
So we browse the net for properties. SM can work anywhere. But most places that appeal to us leave ME with an 1 hr to 1 hr 1/2 commute...one way. That's not good. Easily a 11-12 hour day. We'd have to get a newer car and gas will eat up some more cash... sigh. So I flip...and I flop. One day I'm hot, the next day I'm cold.
I just don't know if it's worth it to do now. But I'm grateful for the wake-up call. I'm grateful that SM is starting to re-consider our future too.
I've adjusted my "savings" mindset in that my home is my savings account for now. I can always sell this place when the time is right for a complete shift in lifestyle. Some point in the future when we don't need to live off the big city, when we can live in a smaller town with smaller paychecks and smaller lives.
Will it be tomorrow or 10 years from now? Who knows? Stay tuned.
What happened to the rv living. Can even get work if you want to do that. We have a fellow in our group who hasn't worked since he was 40. He bought & sold fixer uppers then took his $ and buried in the desert in silver form. When he needs some he goes and gets it. Of course, he is ...... you fill in the blanks. But he is over 70 now.
ReplyDeleteThat's a big part of why we want to downsize. If I have a home that's paid off...then I can start NOW to work for expenses, and retirement, and toys like a small used class C that we can strip down, fix up and park on our land. I guess we still want it all...for now.
ReplyDeleteRemember Mom, I don't have a SS check coming in every month...and likely never will. So for now I got to work for "The Man" at a job that pays a bit more than minnium wage.
I also suspect our "retirement" will look a bit different than yours and Bob's.
And that's OK. I'd just like to be prepared for it.
Dan and I have always felt more secure with land than investments. We consider our home and land to be our investment. One big goal is getting it paid off. We too bought a "fixer upper" that was livable to move in to. We waffle between paying the mortgage down and continuing with not only fixing the house, but investing in the land: fruit trees, animals, fencing, pasture, seed, equipment. I agree that retirement for our generation (if we even want to call it that) will look a whole lot different than what folks have come to expect.
ReplyDeleteWe've talked even more since this post.
ReplyDeleteI think moving forward it will always be in the back of our minds. SM travels alot both in NC and SC so when he gets a really good "vibe" from an area, it's worth investigating. Right now it's towards the mountains, but that puts a kink in my work.
So do we move and "hope" I'll find employment? or stay put until my contribution($)is a non-issue?
It's a process...babysteps. But I'm glad we're thinking along the same path.