Where Do YOU Want to Be in Ten Years?

iVillage Member
Registered: 09-29-2012
Where Do YOU Want to Be in Ten Years?
Sun, 10-14-2012 - 4:26pm

Hello All:

I hope you're having a fun yet frugal weekend!

A few weeks ago, when I did my introduction back to the board, I said that I had been in and out of debt before, so I knew I could pay off the debt we have now. Another member, iv_kassie, asked a question that really got me thinking. She asked me to think about what keeps cycling me back to debt. What a deep question! That's really at the center of everything, isn't it? At least for me it is.

Without going into too many details about my life (I do choose to remain anonymous), we live very frugally compared to a lot of our friends and neighbors. We only have one car, we don't own a tv, no cable or cell phones. We hardly ever go out to eat. But we do have our vices: good food, good wine, travel to see family and friends. Anyway, there are ways to cut back and repay the debt we've incurred; but, then so what? Chances are, I'll be here again in a few years. I've realized that I have a vague image of what I want for my future. What I need to have is something much more concrete.

So here it is...

In five years I want to be in a small, efficient, (preferably off the grid) house with a small mortgage (selling our current home, hopefully for a small profit). In ten years, I want to have the kids' college expenses completely paid for leaving us with only a mortgage, and in 15 years I want to have our new home paid for and enough in retirement to retire if I choose to. I don't think I'd retire at that point, but it would be nice to have the option :smileywink:. Plus, DH would be pretty close to retirement at that point.

Anyone else want to share your long term goals? Paying debt for the sake of paying debt is all well and good; but, I know it isn't enough for me. I really need to get focused on that first big goal. 


iVillage Member
Registered: 04-16-2008
Sun, 10-14-2012 - 4:38pm

Good question!  And instead of getting depressed in the day to day struggle, it is always fun to plan a dream a little! :cathappy:

In five years (or less), I like to have my larger e-fund built up to 12 - 18 months' living expense.  I would also like to have a property with some acreage in the country, in addition to my little loft in town (which has been paid off).

In ten years, I like to have the mortgage of the rental property completely paid off.  Around that time I should also be eligible for retirement.  Not that I want to sit around and do nothing, but it will allow me to explore a second career more aligned with my interests and not have to consider the pay as much.

In fifteen years, I plan to have the property in the country completely paid off as well.


iVillage Member
Registered: 04-10-2003
Mon, 10-15-2012 - 8:21am
Mine are pretty basic. In 5 years I want to be completely debt free except for my mortgage and have minimum 6 months living expenses aside. In 10 years, I want to have my mortgage paid off.
If I happen to get married in between . . . all the better :smileyhappy:

Bex -

iVillage Member
Registered: 11-14-2008
Mon, 10-15-2012 - 10:06am

Love this post. I firmly believe you have to look back and forward to motivate your current life. I just looked back on my goal spreadsheet all the way from 2008 and wow how far I've come I hope to say the same thing in 4 years from now too!

I want to be in a NEW house!

Because we have paid off so much debt over the last 4 years we have not saved much and it is looking like we need a hefty down payment so we can afford the monthly payments even with me going back to work(just had a baby, not sure when I am going back to work).

So that is our big project going forward. Saving for the house while keeping up with our retirement contributions. I hope to increase those a little if we can. I would also like to start a little vacation fund. But I know we will be busy with the house because the basement will not be finished and neither with the garage. Oh well. I can never have just one project on the go now can I?...lol!

iVillage Member
Registered: 10-01-2008
Mon, 10-15-2012 - 1:26pm

Good topic!

The following:  

1) Mortgage paid off between 7 - 10 yrs. from now.

2) Retired and at home.  

3) Paws crossed my health is a little better since I could exercise more & hopefully be in better shape.  




"Patience is the best remedy for every trouble"- Plautus

iVillage Member
Registered: 10-09-1999
Mon, 10-15-2012 - 1:52pm

What a great question.  I usually look out 2 years in advance, but this was a good exercise.  In 5 years our mortgage should be paid off, we should have $20,000 in our EF & then we can increase our retirement savings.   In 10 years we should be thinking about retirement, I'll be 59 & if not retirement then possibly cutting back to a 3 day a week job.

Cheers to goals & planning & hoping we all hit our goals!


Community Leader
Registered: 08-25-2006
Mon, 10-15-2012 - 2:52pm

Well, in my One Day at a Time lifestyle, the exercise is kind of hard.  But, that doesn't mean you can't plan and have goals.  The trick is, in my life, is to allow those goals to be fluid, and not miss out on today worrying about my future goals. I personally believe God is in charge.  :smileyhappy:

We keep repeating things until the lesson has been learned. 

With that said, I do want to be out of CC debt.  I don't like unsecured debt.  I don't really care for car payments, either.  I don't have concrete numbers like some of the other posters have, but I would love to be able to pay cash for most everything I need. 

And if I can't, that the terms be short, like 3 to 6 months.  Or be able to pay for most of a car and only make payments for a year or so.  Stuff like that. 

So I guess my only concrete goal is to pay off my CC, have plenty saved so I don't have to use my CC, and hopefully be at another job that I love and can retire from.