What is your 5,10,20 year plans?

[Fairymaryprincess]

Me and my husband are talking about what we would like for our future, I'm fed up today and all those goals seem a million miles away, so what are your plans? Are you working towards them or just hoping they fall into place?

Next 5 years- move into and cosmetically renovate first house.

Next 10 years- hopefully extend said house once we have enough saved

Next 20 years- option a) sell house for £1000000000 and live the rest of my life in luxury or (realistically) b) sell house and move to slightly nicer postcode so children have something decent to inherit.

Sounds so boring when I write it down.

11-15ish year plan- sell current house once DS leaves full time education and move to Pembrokeshire.

We live in a cheap area, so managed to buy a plenty big, nice house already.

These goals are not a million miles away. Early on they may seem a million miles away but life passes faster than you think. Don't let the overwhelm thoughts take hold or you won't make the small tweaks now that will have huge effect later on.

Are your goals financial, career, family, house, personal achievement, service/giving, social contribution? What are your values for living life now in the future (it is a balance between the two) and how do your goals fit?

Setting the goals clearly is key for me. I'm a planner not a pantster. Plus taking the time to understand things like pensions. Then both purposeful action and taking advantage of fortune can be directed towards your goals.

Don't forget your goals might change a bit. Thanks to understanding my pension, I've realised I can continue to work part time and retire comfortably at 60. Whether or not I do that is flexible, but knowing that is empowering and allows me to take a full range of choices. I have effectively bought myself freedom in my time both now and in the future. After all money for me is not an end in itself, it is the path to freedom of choice to do what I want. I might choose to work full time later. But it will be a choice.

Otherwise, thanks to careful planning, most of my goals should be achieved within the next couple of years. Or will happen automatically without extra effort, just the passage of time. This is thanks to careful planning 10 years ago.

Good luck!

We are currently moving from our 1st home to the next one which is a project house. Our 1st home has been great. Plenty of space, close to buses to town, good school down the rd and other amenities are all within walking distance. We are moving to a nicer postcode but also mainly for the quieter roads. I plan to stay here till I die. DH might have other plans though. I can see him wanting to move in about 10 years.

i own a 2 bed flat in z3 london, i like the layout of the flat and apartment living- all 1 level and no garden maintenance/external maintenance. However I would like an extra room- 3 bed flat in the same area- East Finchley/Muswell Hill/Hampstead Garden Suburb. Currently costs about 700k-800k.

Huge jump really, hoping that it becomes cheaper. I am planning on overpaying our mortgage but i still need a price drop (just like I couldn't have afforded my flat without the brexit price drop).

5 years - complete renovation and decoration
10 years - pay off mortgage
20 years - dh will retire and kids will
Have flown the nest maybe downsize?!

It never turns out as you expect! In a few weeks we will have laid off our mortgage (which we never expected in a million years, but moving from south to north is allowing us to). However the house we are buying is much smaller than we would like. The plan within 5 years will be to hopefully get decent jobs and a new mortgage and move into a larger 3 bed detached with a decent garden. I really want to do it before our kids are too big to play in it.

After that I have no plans! I'd just like to feel settled in a home enough to decorate it nicely and feel like we don't need or want to move again.

5 years: Get out of London/Brexit England. Move to Scotland....