This week is all about new ideas and revisiting old ones. There are so many ideas swirling around in my head I can’t get a grasp on them. That’s the story of my life. I am creative and imaginative, but the follow-through just isn’t there. Lately, I have been reviewing my financial plan for this year, and it’s time to buckle down and begin organizing my future. Here the ideas Im contemplating and what Im going to do.
Vacation Property
I’m so obsessed with vacation properties I had to stop watching House Hunters International. I love traveling to new places and meeting new people. I have been to some great destinations that I would not mind purchasing property in for the long haul. Of the places I have looked at, condos in Mexico are high up on my list. My only holdup is having to pay the entire purchase price, or the majority of it, upon completion. Mortgages in the country are not like ours, so paying in full is the best bet. Properties are not high and can be achievable in the next ten years.
Rental Units
When organizing my future, I’ve played around with the idea of purchasing a long-term rental unit. In the right location, the unit would pay for itself and my residence in full each month. My focus has been on properties in the Carolinas that are beautiful and low-cost compared to the rest of the country. My only drawback is having to be a property manager or giving up some of the generated income to pay one.
Land
Buying land has always been in my financial plan. I don’t want it just because there is money in it, I want it to create an oasis for my family and friends. Putting a house on it or holding it to sell at the right time is not me. I want to build a stunning secret garden and food forest. It’s a big task, but my plans include four garden plots enclosed by a fence of shrubs, crushed rock between cold frame garden boxes buried in the ground. I want two unique she shed office spaces in two of the plots and all the food we can stand to eat. I want fruit trees and even an event space at the back where everyone can come and hang out.
I have a lot of great ideas now I need to buckle down and focus. I’m sure many of you have some great ideas about how to ensure your financial future is a success. I would love to hear about them in the comments below.
Shatel Huntley has a Bachelor’s degree in Criminal Justice from Georgia State University. In her spare time, she works with special needs adults and travels the world. Her interests include traveling to off the beaten path destinations, shopping, couponing, and saving.