August 12, 2010

Downsizing...

Ever had one of those moments where you go.."Oh my gosh"!? Well, about 3 months ago, it happened to me. I received my quarterly statement from my investment company one day and I had never noticed the first line on the page before...until that moment. It said "You are eligible to retire in eight years"...harmless enough I guess. But eye-opening for sure, for whatever reason, on that day. I did a quick calculation in my head, knowing that on the day I retired, my income would shrink by probably 40%. So another quick calculation...eight years until I CAN retire and 25 years left on the mortgage on way too much house. So, at that moment, the wheels went in motion. My wife and I love the place we live that we named "La Puerta del Ceilo" or Heavens Gate, but reality is reality and I needed to take up residence in that place immediately. So, fast forward 90 days later. We should be getting a draft copy of the contract for our new home that is half the size but, a full 1/3rd of the current mortgage. It will take some getting used to, but the building on the property that is actually bigger than the house, will certainly help the transistion. Terri already has staked claim on a corner inside the building for "pageant central" and her ideas for it are very impressive. It's located in a small town south of Forth Worth that still has that "small town" feel and it's a perfect place for my lovely bride and I to put down our final roots in this life. We like naming properties and we haven't even thought of one for this one yet, but for now it will be affectionately known as "101 Downgrade Place"...