<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Major Goal Revamping
 

Major Goal Revamping

July 24th, 2007 at 02:19 pm

Time to revamp the "Journey to Balance Sheet Affluent" goal ... and I do mean a M-A-J-O-R revamping. My DH & I are about to head down a road not many have gone, so we are going to have to draw our own map.

DH is starting to wind down the busy season for his business, and it has been a really good year. I thought that was going to give us a really good jump start on our goal of being BA by age 60. But the goal has changed big time: It is now "BA by the time DH is 50," which is just a bit over 6 years away.

The "goal behind the goal" is that we would like to be in a position where DH can try out for the "Champions (formerly known as Senior) Golf Tour" when he turns 50, and if, against all odds, he managed to make the cut, he would be able to "retire" from his business and go out on the tour without jeopardizing our financial future.

This idea has been a "wouldn't it be nice? ... " sort of dream of ours for a long time, ever since he gave up on his dream of becoming a pro golfer when he was younger. But lately it has started to be more of a "do you think it could be possible? ..." sort of idea, and now with the good business results this year, it became a "we might be able to make this happen" serious thought followed by some serious discussions (and me having to get over my surprise when I found out the age to try out is 50 and not 55 as I had thought), and now it is a "we have a shot at this if we work really hard and don't have any major setbacks" goal.

It may surprise some that someone as cautious as me is even entertaining such an idea, and yes it does give me butterflies in my stomach, however I do know that:
- The odds of DH actually making the cut are extremely slim. Probability says that he will chase the dream, not make it, and then go on with his business and life as usual. But at least he will have had the chance to pursue the dream. He won't have to die thinking that he never got the chance to try.
- This is not a "must" goal, even tho' we will work very hard to reach it. If, when he turns 50, it just isn't a responsible idea financially, I know he will willingly abandon the idea.
- He won't risk bankrupting us in the process. If he happened to make the cut and go out on tour, he would give himself a certain amount of time to start at least breaking even, and then he would give up if he had to.

I have come up with annual goals for the next 6-1/2 years and the numbers frankly are intimidating. I still have to revamp my first year's quarterly goals, but frankly my head is spinning so now that I probably won't do that for a couple days. And I am definitely going to run this by the CFP when we have our annual review in the fall, to see if my idea is anywhere close to reality ... I wonder how many people ask him a question like that?!?

Well ... What do y'all think? Are we crazy?

6 Responses to “Major Goal Revamping”

  1. JanH Says:

    Sounds like you guys are planning ahead. And having gotten to the point where the kids are out of the house, we find ourselves beginning to plan for things for ourselves. Wish we'd had the foresight as you have to plan earlier. I think it is cool when someone gets to try out their dreams--no matter what their age or their dreams! I once read a book on people who started a whole new life after age forty or over. Some really famous achievers changed their focus from the first halves of their lives and went on to achieve amazing things in the second. Gives me hope!

  2. Ima saver Says:

    I say, go for it!! I always wanted to live somewhere else but florida before I hit the age of 40.
    Three months before my birthday, we moved to the mountains of North Georgia. We had no jobs at all. We lived on our savings for a year and my husband built his first ever house on the banks of the toccoa river. It was easily one of the best years of our lives.

  3. monkeymama Says:

    I say go for it!!! Anything is possible. Planning ahead helps. Wink

  4. boomeyers Says:

    It sounds wonderful and I think it is awesome that you are so supportive of his goal. Nothing like a team to get the job done!

  5. PauletteGoddard Says:

    Three months before my birthday, we moved to the mountains of North Georgia. We had no jobs at all. We lived on our savings for a year and my husband built his first ever house on the banks of the toccoa river.
    Reading this gladdens me. I won't say scfr and/or Ima Saver's families are crazy: sometimes drastic changes are called for and timely. I had grappled for over two years about making a severe change, and the longer we stay where we are, the worse it's going to get. Good for both of you for lighting out for new territory!

  6. scfr Says:

    Wow - Thank you all so much for the positive comments! Truth be told, I was expecting a mixture of some positive and lots of "are you nuts?" replies.

    It's interesting that it's women who are being so supportive (thank you, sisters) ... I thought we women were supposed to be the ones who are afraid to take risk ... Is it possible that while we may be more conservative in our investments, we are more willing to take lifestyle risks, if it means the possibility of having a more fulfilling life?

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]