The view is free after I pay my mortgage, taxes and assessments.
One of my goals this year was to pay off all my debt except for my mortgage. I’m on target to do that and still buy a couch. I budgeted for it. And I pick up the occasional extra shift at Wood so I can have extra money for extracurricular activities. I also have started making two extra mortgage payments a year. In December, I’ll start putting an extra $100 a paycheck in my 401(3)B. Plus, I’ll end this calendar year having boosted my philanthropic plan and investing in my health through personal training.
Yikes! When did I get so grown up?
I’m a couple months out from 51 years old. And although I never have had the benefit of a double income, I’ve also never had the expense of kids. I should be further ahead in my retirement planning than I am. I don’t really intend to ever fully retire. I like the idea of being a productive member of society. And it’s hard for me to imagine ‘spending money without making money.‘ But I won’t always be up for my current pace of activity. I need to fully grasp that.
Last year during my fifty milestone birthday, I asked each of my friends about their retirement plan. They are all younger than me. And most were decades ahead of me in their future security. Of course, most of them didn’t live out of a non-profit paycheck either. I don’t regret my career choice. Still, I know I never considered money in ‘my what do I want to be when I grow up‘ planning process. It’s only now in my ‘how to grow old gracefully‘ planning process that money is more than just a means to an end. It’s a necessity to have a nest egg for those final laps on the journey.
Tom forwarded this thought-provoking article Nine Strategies for Cultivating a MIndset of Financial Independence. It’s a brain teaser. It weaves practical and philosophical strategies together to visualize and actualize financial independence. And it’s not ‘out there’ concepts. It’s the daily practice of basking in the simple joys while focusing on the bigger legacy of my life.
*Spend time thinking about what you want most from your life as a whole: Years ago, I told my friends that all I wanted said at my funeral was “Katy was a kind person and always had gum.” They are now quick to point out that I rarely have gum. An unfortunate reprimand about chomping gum in the theatre from a stranger has made me switch to mints. Still, I’m trying to stay on track for being kind. I’m not one to make a plan to far out. I love life spontaneity. I do want some type of a legacy. I’m not having kids. I’d like something of substance to leave behind like a historical marker: Katy Walsh was here.
*Spend additional time thinking about how your daily choices work toward that life: I do try to do the kind thing on a daily basis. Obviously, my thinking about my legacy will also lead to strategizing it from conception to completion.
*Learn to separate needs and wants: I’ve gotten pretty good about this. I can easily identify needs and wants. I just need to rein in giving in to the wants. I never need another glass of wine, another cookie or another pair of shoes. I just always want another glass of wine, another cookie or another pair of shoes. I need to not satisfy all my wants.
*Separate your desires from the desires of others: I’m actually a maverick when it comes to this one. I don’t usually envy what others have. Mostly, I’m happy for their success and their latest acquisition: new vacation home, latest technology, exotic trip. I try not to be jealous and usually I’m 87% not. 😉
*Research all your purchases: I rarely carry cash. I used to have a tip drawer with my stash in it. Now, I put my tips in the bank. I use my ATM for a paper trail. I never balance my checking account but I’m constantly perusing it to assess the damage. I like to know exactly where my money is going so I can curtail it.
*Take your time and be patient: Hmmm! This is definitely not my mode of operation.
*Educate yourself daily: I need to focus on this more. I love learning. In the last six years, I’ve immersed myself in theatre. In the last two years, I’ve started practicing yoga. In the last year, I’ve created the Roaring 20s Book Club, What else should I do to continue to broaden my life experiences for a richer existence?
*Maximize appreciation of the free things in life: I absolutely love free things. I’d rather have a home cooked meal than eat out at a hip restaurant. And it’s not just because I’m frugal. It’s because I need quality, real experiences. I don’t want flashy, trendy, artificial scenes. I love a sunset, a hearty laugh, logging in on Rich’s HBO account. I appreciate and embrace free!
*Build reinforcing relationships: Despite not having a husband, I’ve been blessed to acquire a group of friends that are similarly minded. We have a past. We celebrate a present. And we plan for a future. …together! Years ago, Roger brought up commune living in our old age. The concept has stuck. Part of my due diligence in financial security is ensuring I have a room in the commune.