Credit Card Debt? Gone.
Car? Paid for.
Bills? Payments are, for the most part, automated.
Retirement Accounts? Getting funded more and more each year.
Emergency Fund? Two months of expenses saved and on the way to way to three.
Insurance? Life, health, dental, home, car, and personal liability…done.
Discretionary Savings? All set up and getting ready for those larger than normal, but not an emergency, expenses.
Other Investment Accounts? Long-term investing and shorter-term speculative accounts…check and check.
Estate Planning? Not done, but the wheels are starting to turn on that one.
Looks like everything is going along quite nicely, from a financial planning standpoint. So…
It took me a little more than a decade to work my financial situation from a barely manageable level of debt to almost hitting on all cylinders. During that 10-plus year frame of time, it seemed like I was always doing something when it came to my money: add this, take away that, check this, check that and so on and so on.
I still feel like I should be more hands-on with my financial system, today, and I’m not sure that’s entirely a good thing. Don’t get me wrong; financial plans need change with us as our lives progress. This feels like more than that, though.
When I had a lot of debt, I would look at my money every morning to make sure something bad hadn’t happened or that I didn’t forget to pay something or transfer money from my savings to my spending account so I could afford all of the credit card payments.
There’s just not as much to do these days, and I find it odd that I’m a little uncomfortable with that given that this situation was kind of the goal.
(Extremely first world problem, I know. Especially considering how so many others have been impacted by the COVID-19 pandemic.)
I keep trying to remind myself that this was the goal that I had so long ago, and the goal I kept for the years it took me to get here. As uncomfortable as this transition may seem at the moment, getting closer to a “my money just kind of works” situation is a good thing. It was getting to this point that has freed up my mind to pay attention to my friends in the FinTwit (Financial Twitter) community to learn about some next steps. These next steps include adding a personal liability insurance policy earlier this year, and a goal to add an estate plan by mid-2021.
I just need to pause and evaluate any changes I want to make to the plan, and make sure those changes are likely to be positive in the long run, and not just me wanting to meddle in my own affairs to feel a little more important in the short term.
It would seem that no matter how positive a transition might be, it’s never totally comfortable. But, I’m sure I’ll get to that comfort level at some point.
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