Smart Couples: Dreams Basket
My wife and I recently resumed reading Smart Couples Finish Rich. The book helped us discuss our different values, sync on our current retirement savings plan, and start talking about our insurance needs. The last section in the book was focused on our dreams. Clearly its the mostly uplifting topic in the book and we had a great time talking about.
1) Our primary topic is what we wanted to establish with a family vacation home. Remote, on the water, near the mountains, somewhere in Virginia or North Carolina. We want a place to bring family together and establish a place full of memories.
2) We talked about financial freedom. While nothing was decided we talked about a couple ways to go forward. We could buy a smaller home in the next year to allow us to put more money away towards our $2 million goal and hope to move to our "dream home" sooner. Our other option is to plan on working and staying were we are longer and buy a larger home.
It's going to be a tough decision for us. We don't yet see how we could live in a <$250k house in our area. We could probably only get a 3 bedroom house in the area but we don't know how we could start a family, entertain guests.
However if we could, I certainly think that would help us slingshot towards our goal. We would have less monthly cash flow expenses allowing us to save significantly more each month for our "dream home" and our $2 million net worth goal.
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