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Big Goal

March 4th, 2017 at 06:30 pm

I'm starting to ponder a BIG goal. Like cash for our next home kind of big goal. I don't know exactly when we might own a home again. Possibly 5-7 years from now. In just over a year, we will no longer have children home full time. Of course, we expect them to visit! Therefore, we may be able to rent a home with less space then we currently have.

My first thought is to aim for $60,000. But the truth is I'd rather aim for $160,000. And that is a HUGE goal. Overwhelmingly huge. But the truth is if we don't aim for something, we won't get near as far.

Saving $160K in 7 years means saving $22,857 per year. As things currently stand that is not possible. We can save some of it, just not all of it. I'm starting to contemplate new streams of income or even a part time job to make that happen. I'm not sure where the money will come from but I'm looking to make that a new long term goal.

Do you have a HUGE goal that you are looking to achieve? Is it so big you don't know how it will happen?

6 Responses to “Big Goal”

  1. AnotherReader Says:

    If you went back to work full time when the last chick leaves the nest, you could probably come close to your goal in the remainder of your time frame. You could also beef up the retirement accounts, although you are already doing very well there.

  2. Wink Says:

    What an exciting goal! You certainly have great money management skills and with potentially returning to work you can make that dream a reality.

  3. My English Castle Says:

    That would be interesting to think about, CCF. I suspect you know my goal--not sure whether my transnational dream is possible either. But working at it.

  4. rob62521 Says:

    What a great goal!

    We don't have such a huge goal, but we are saving up for a new driveway. We figure it will be around $7,000 to $8,000 by the time we get the money saved. It's not super long, but on a hill.

  5. Kiki Says:

    What a great goal and no matter where you end up it is a good amount of money.

    Where were you thinking of buying? Is this when your husband will retire from the military?

  6. FrugalTexan75 Says:

    Knowing how you go after goals with gusto - I have no doubt you'll do it.

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