Tuesday, January 09, 2007

10 years fast fowarded

Where do I see myself in 10 years? That's an interesting question, I'll be 37 and DH 39...I hope that we'll both be done with our schooling obviously. And I hope to have at least 2 kids, ideally 4. But financially where do I see us?

I see us living back on the West Coast in a lower cost of living area. Between southern cali and NE, I can't imagine living somewhere else so expensive. I expect to own a single family home finally and two rental properties. Why two? Because we'll probably buy two homes/condos for our parents and they will rent it back from us. Already our parents are trying to get us to hurry and settle in our final location so they can buy something nearby. As an only/youngest and DH the eldest and only married, I guess we're considered extremely responsible young adults.

I also see our income minimally doubling in 10 year probably closer to 3x what we make now. I'll be done with graduate school and DH done with an MBA, so it's not unlikely that our incomes will go up.

I hope to hit a NW of $1 million by 34 (projected), and by 37 and 39 amassing $1.5 million dollars. These projections are based on our current saving rate and funneling all raises into savings. Not sure if that will happen, but it's a good goal. Ambitiously I see us hitting $1 million by 32 and 34.

I also forsee us having college fully funded by then because another mini-goal is $10k in a 529 by the time our children are 1 year old. We've already got $1k set aside for kid #1. Now I've got to get serious about saving.

And since we're day-dreaming...at 37 I'll probably be driving an SUV and minivan, and live in a 3000 sq ft single family home with a yard and a garage, and be materialistic and consumer driven...maybe even a stage mom???

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