HAVE THE RECENT ECONOMIC CHANGES made you rethink your 10 yr. plan?

[Beekissed]

I didn't know quite where to put this one but, since its based on the shaky economic future, this is as good a place as any.

I don't know about you all, but in regards to my SS life and my family's individual goals, we talk alot about where we want to be in 10 years....financially, geographically, career-wise and in our family matrix.

My boys and I had been doing quite a bit of planning about careers and colleges, locations of living, etc. that we felt suited what they may want out of life. We thought we had a few ideas kind of worked out and firmly in our plans.

BUT....we are starting to get the feeling that spreading ourselves across the country and trying to accomplish our individual goals alone was probably not the wisest choice in light of unsteady economic futures.

We had a family meeting this weekend and decided that they could attend colleges a little closer to home and maybe even attend the same college to help one another stay the course. Even having the boys share living quarters so that the two incomes make for easier living.

My oldest just got laid off from an oil field job he got 2 mo. ago. Great money, lots of work since they signed the domestic oil bill....then poof! all those jobs gone! We've had to re-evaluate how to support each other more by a change of plans.

I've been hearing about families moving back in together to share expenses. People used to do this out of necessity back in the olden days and, it seems, its beginning to look more attractive.

I'm wondering if you all are finding that being more SS means combining forces and changing one's mind about the meaning of independence? Independence from each other or independence as a whole? Will it come down to multiple families living together again, I wonder?

 

[sylvie]

I think it's ridiculous to try to project the next 10 years. Changes are happening too quickly.

My DB and SIL have a daughter in college and another who planned to enter in fall.
Last month DB lost his job of 34 years at a pharmaceutical laboratory. That was the last sector I thought would be hit with all the Americans on prescription drugs. His job prospects look bleak and his daughters' college plans may be over.
SIL works at the same lab and expects her layoff soon. Without the incomes the house will be gone so I'm not sure how they will plan for 10 years, much less who is moving in with whom.

 

[Wifezilla]

A friend is moving mom in with him and selling her house. She will break even, not make a profit on the sale, but it will get her out from under the mortgage payment. That will free up a lot of money per month for her. She is getting older and needs help anyway, so the economy just sped things up for them a bit.

 

[enjoy the ride]

I do try to plan for the future- in fact for the rest of my life. With the full understanding that things don't go according to plan very often and flexibility is need.

Planning helps to define what goals are important and leads you to think about preparing to deal with those unexpected situations.

At my age, my goal is to stay as healthy as possible as long as possible and stay in my own home. In fact when I built it I planned as best I could for what might happen. The doors are extra wide for wheelchair access. The doors have lever handles and I have a shower stall for easy access and bath tub. It was supposed to be all on one level but the boys pulled a change- the stupid garage ended up 4 feet lower- whan I pointed out that this isn't what the drawing showed, they said that the land sloped more than they thought. Oh well- flexibilty is needed........

 

[freemotion]

I do make goals, short-term (six months to a year), mid-range (3-5 years), and long-term (retirement!) If I don't hit them, I just adjust the date, or re-evaluate the goal.

I try to do this once or twice a year, in writing. It makes a HUGE difference in many areas of life.

One thing I adjusted was the idea of replacing my horse. I am filling my little barn to fill that space just in case temptation overcomes me! I am expecting to start getting offers of freebies. I have many times over the years. I just don't want the extra expense right now, especially since we don't have enough pasture to support a horse, so have to purchase lots of hay.

I adjusted my short-term goals to become more ss, hence the goats and turkeys and canning and gardens. This also includes longer-term goals.....an energy-efficient house, for example.

 

[k0xxx]

"HAVE THE RECENT ECONOMIC CHANGES made you rethink your 10 yr. plan?"

Nope. I was planning on still being poor in ten year. Nothings changed.

 

[Tallman]

"HAVE THE RECENT ECONOMIC CHANGES made you rethink your 10 yr. plan?"

Yes, but I would have to say that I have had to change them every so often anyway. My biggest fear is leaving something for the kids. I had things planned a certain way; however, with the stock market dropping daily, the spending bill that is being called a "stimulus package," and being out of work, the plans will have to change.

To me, that is what SS is all about? I have to change, adapt, build with what I have, and do whatever it takes while reminding myself that it is God who controls all - not me.

And all means including everything - excluding nothing.

 

[SKR8PN]

"HAVE THE RECENT ECONOMIC CHANGES made you rethink your 10 yr. plan?"


Yes and no. I had planned 10 years ago to be as SS as possible and I am very close to reaching that goal. Mortgage is paid off, cars are all paid for( I haven't had a car payment in over 20 years) retirement is another story. I am 55 and have worked so hard to get to where I am, retirement plans had to be put on the back burner. Now my retirement goal is to be able to work until they stick me in the ground.

 

[Tallman]

"HAVE THE RECENT ECONOMIC CHANGES made you rethink your 10 yr. plan?"


Yes and no. I had planned 10 years ago to be as SS as possible and I am very close to reaching that goal. Mortgage is paid off, cars are all paid for( I haven't had a car payment in over 20 years) retirement is another story. I am 55 and have worked so hard to get to where I am, retirement plans had to be put on the back burner. Now my retirement goal is to be able to work until they stick me in the ground.

SK, I know what you mean. I have had everything paid for for several years, and at 61 am watching my retirement money dissolving. I will be very happy to work as long as the work is there, and that I can control the benefit of my labor- if you know what I mean.

By the way, your up awfully early.

 

[Quail_Antwerp]

Well, I didn't really have a 10 year plan, we just try to plan for the current year and set goals for that year.

We do have a few goals for this year.

Anyone see the concerns on the news this morning regarding our banks? Wallstreet announced that all eyes are on banks this week. That is enough to convince me that I've been right on with my planning.

Last year I felt sure that this year there wouldn't be $ to do what we needed. I have spent a lot of time praying. I prayed that God would hold off whatever was going to happen until we got our tax return. God has answered that prayer. I honestly believe it's down hill from here.