It’s been so long…

Happy New Year! Yes, it has been that long since I wrote a blog post! This is my official first post of the new year. It’s a shame, I know! I just took a glance at the goals I created for myself for 2017. While the first three still are in the works, I have shifted focus on #4. I no longer am working to pay off my mortgage early. This is a dramatic shift from what this blog has been about. My entire blogging presence has mostly been consumed with one financial goal: kill the mortgage! Ever since November, I have been re-evaluating life and finally have realized: I have no idea what my long-term plan is. Here are few factors I am dealing with:

1. Husband’s job – in his 10+ years working at his company, he’s seen layoffs happen often. We are both realistic that at some point, his time may come. He is predicting that he has about 5-10 years with the company, but it could be more or less. I like to think in worst case scenarios; in 2021, he could lose his job. Or he could work at that company until he retires.
2. My job – My position in grant-funded and ends June 2022. There is a slight chance it will be renewed, but most of us are thinking it wont be. Thus, I am out of a job in 2022. I would love to be able to shift to freelancing at that point.
3. I really want to move. I’ve tried to pray and journal a way this feeling, but it is not going anywhere. Either I embrace it or continue to fight this feeling every day. I am leaning towards a new home. Whether we sell our current home or use it as a rental property is another layer of complexity.
4. My kids are going to attend college in 8 and 11 years, with one year overlap. They could get scholarships or we could end up with 100% of their cost. Of course we always have the choice of whether to pay or not. But it is something we have decided we value and that we are going to at least give them some funds for college.

Here’s what we are currently doing mostly by default:

1. Husband – contributes 10% of his income to a retirement account along with 5% from his employer
2. Me – contributes 7% of my income to a 401K which is matched by my employer. I also contribute $25 each month to a Roth IRA
3. House – we are currently paying on a 15 year mortgage with a 2.8% interest rate. We are also saving 100% of my paychecks for a down payment on a new home. We currently have $14K saved of the $90K we need.
4. College funds: We are contributing $25 a month for each child.

So there you have it! More information that you ever needed to know about our financial situation. One of the things I love about blogging is feedback! What grade would you give us?  What would you do if you were me?