I've thought of a few plans. I always seem to have a plan A, B, C, etc....and this time is no different.
Plan A is to pay off the mortgage on this house. That won't work because it will take 4 years and I only have 4 years to spend with my nephew.
Plan B is to save up 25 times my yearly expenses. That would take much more than 4 years.
Plan C is to quit now and get a part time job. This is possible since I only need an additional $541/m if I am receiving rental income but it still makes me feel financially insecure.
Plan D is to work for another 11 months, save up $2,000 a month to equal $22,000 + rental income which is what I would need to cover around 3 and a half years of expenses. This, along with the $10,000 emergency fund that I already have, would give me a nice cushion to fall back on.
I could go on with the plans, move to my old place, rent out this house, etc... but that would take more money than I have available and time is ticking away.
For the moment, assuming I can keep going to my job and not have a major tizzy and quitting, I pick Plan D. 11 months isn't that far away. I can do this. Well, it might have to be 12 months because I have an out of state wedding to go to in June and that is going to take up some money. I need to start watching my expenses more closely and trying very hard to save $2,000 a month. It will be a lot easier to do once my house is rented again. I will have 3 years and 4 months to do stuff with my nephew, if he still wants to hang out with his old auntie.
After I save the money, my goal will be to not use it. I will try to earn enough each month so that I don't have to touch my savings and it will just be a giant emergency fund. I don't know what I will do after my nephew moves on to college. Hopefully, I will have figured out some sort of home business or new career by then.
Also, in order to survive the next 12 months, I have decided to take at least one day of vacation a month. That will give me a 3 day weekend to look forward to every few weeks and 2 three day weekends if there happens to be a holiday that month too. This month I want 3 three day weekends. I get one holiday and I will use up 2 vacation days. I wasn't going to do it until later in the month but I need to spend more time at my rental house making sure the A/C condenser is safe so Friday I will be digging holes and pouring concrete for a new gate. It better not get stolen again. I can't afford it.
Anyway, I like my new plan. If I can stick with it, I think it might actually work.
30 minutes ago