Do you have an ultimate goal? If you can do anything at all, what would it be? Is it your current job? Many of us are so busy with day to day life that we don’t have time to think about what we really want for our future. When you don’t have a long term goal, your objective is only to get through the day/week/month. Years will have flown by and you will still be doing the same thing with no direction. You need to visualize your ultimate goal and make your way there.
Are you currently doing what you want to do? If you are a software programmer, the #1 job in 2012, are you doing something that you want to do 20 years from now? Let’s say you like being a software programmer and love working with computers. What would make your job better? Is it a bigger paycheck, being in a leadership position, starting your own company, or something else? You can’t expect to the do the same thing forever because nowadays, job expectations change. When you are in a senior position, the corporation will expect you to contribute more.
I’ve been in my job for over 15 years and it started out well. I liked the work that I did, but I neglected the long term plan. The pay was good and the job was challenging, so I lived from project to project without mapping a course to success. Eventually, this caught up with me. My job expectation changed and I started to lose interest. Now that I think back a bit, my naive answer to “what would you like to do in 10 years” was to become a manager so I can make more money and climb the corporate ladder.
Now that I’m a bit older and know myself more, I’m pretty sure a corporate career is not for me. When I first realized that becoming a manager was not my cup of tea, I didn’t really update my long range plan. That was not wise, but it’s never too late to make a plan. I’ll keep my rants about the corporate culture to myself today and explore what my ultimate goal would be. You’re probably asking yourself now – if he is going to retire, does he need an ultimate goal? Well, I have to do something for the rest of my life, right? I’ve got 60+ years left so I’d better make a plan. Yes, I plan to live happily to be a centurian. 😉
The RB40 Villa
I have been dreaming about owning a B&B in a tropical paradise for a while now. As long as I’m dreaming, might as well make it a perfect dream. The ten acre RB40 Villa B&B will be situated on a white sandy beach with year-round perfect weather. We will have 10 environmental friendly beach huts with solar panels. Each dwelling will be unique, secluded (no view of other cabins), and off grid. There will be a mixture of tiny houses, container homes, and stilt houses, all of unique yet simple architecture. Our B&B will emphasize tranquility and rejuvination. There will be no TV in the huts so the guests can wander the extensive garden, spend more time at the beach and enjoy nature.
Guest can learn to ride horses on the beach, bike to town, take surfing lessons, order picnic lunches, play beach volleyball, join a Tai-chi or Yoga class, or just soak in the sun. We’ll have an open-air gathering area with a community BBQ, big wood fired brick oven (for pizza night), and dining tables where guests could gather and hang out. There will be a projector here so we can have movie nights and soccer nights. (I’m not a soccer fan, but there is always a huge festive crowd around a soccer game in foreign countries and it is a lot of fun in that atmosphere.) I’ll do minimal work and hire people to do all the cleaning, booking, and other jobs for me. Maybe I’ll pick up and drop off guests from the one-flight-a-day airport. Oh yeah, the most important thing is the RB40 Villa will be cash flow positive enough for me to live a comfortable lifestyle in one of the nicer huts. 🙂
This is the first time I’ve written down this long range goal and I’m nowhere near it. I’ll have to figure out how to get there eventually. Here are some steps that I can work on over the next few years.
- Save up money and invest so if the right opportunity comes along, I will be able to take advantage of it. Enough money can remove almost any obstacle.
- Search for the right location. I’ll take a trip to the Big Island next year and see how things are. We’ve been to Belize and I think that could be a good option. I would like to buy some empty land and then build up later. We have got many years until baby RB40 goes to college.
- Slowly convince Mrs. RB40 that this is a good idea. If I keep at it, I might be able to make some headway in 10 years or so. She is stubborn like an elephant.
I’d better wrap this up so we can get back to your ultimate goal. It’s important to make a long term goal and keep working towards it. Sometime the long term goal may not be what you thought, but that’s ok, you can make course corrections and reset the goal. I’m not going to say you will achieve your dream if you just work as hard as you can, but I’m sure you will be closer than you are today.
I would love to hear about your ultimate goal. Is it to teach and become a principal someday, own your own business, or win a Nobel Prize? Please share some of your dreams with us.
Passive income is the key to early retirement. This year, Joe is increasing his investment in real estate with CrowdStreet. He can invest in projects across the U.S. and diversify his real estate portfolio. There are many interesting projects available so sign up and check them out.
Joe also highly recommends Personal Capital for DIY investors. He logs on to Personal Capital almost daily to check his cash flow and net worth. They have many useful tools that will help DIY investors analyze their portfolio and plan for retirement.