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I understand that the economy of many of us is in the 'TANK'', but you still need a long term plan on how you will make it through these times and beyond. I chatted with someone who said thinking of long term makes them sad that they will be old, loneyly and poor. Well, it does not have to be that way.

I do not want specific data, but just what kind of planning are you and your s/o doing to prepare for your children as they grow, your retirement, you don't want to work forever, do you?

What is your long term financial plan?

  • Savings?

  • Being Debt-free?

  • Stocks or Bonds?

  • Other, please list. Thank you.

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Submitted by at 11:44 AM on Dec. 3, 2008
Votes (111) Comments (17)

What is your long term financial plan?

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Submitted by at 11:44 AM on Dec. 3, 2008
Votes (111) Comments (17)


  • ilovedogs1...
    Submitted by   at 4:21 PM on December 3, 2008

    we follow dave Ramsey's advice. we are going to be debt free within a couple of years, and we are thinking of selling this house for a lesser expensive one, and enjoying the benefits of being able to save more, and also have the vacations etc and pay cash for them. for retirement we are goign to save and also use 401K

  • Joeygoat
    Submitted by   at 6:09 PM on December 3, 2008

    I too, am a Dave Ramsey convert. No plastic here.

  • SylviaNCal...
    Submitted by   at 7:07 PM on December 3, 2008

    Our long-term plan is to start and then manage many different types of businesses. We don't really want to depend on others for employment long-term. We also need to be able to make unlimited income so that we can live the life of our dreams.

  • J.Lily
    Submitted by   at 7:09 PM on December 3, 2008

    We do not use credit cards at all, hardly ever buy things that are unnecessary. I have some RothIRAs from 2 prev jobs, otherwise we have a long way to go.

  • Joeygoat
    Submitted by   at 10:16 PM on December 3, 2008

    Thanks for the input, I am glad you all have a good plan in place.

  • mum2gr8byz
    Submitted by   at 6:05 AM on December 4, 2008

    all of the above and then some :) haha we have a personal savings, college funds for each of our children, bonds, CDs and an IRA for our retirement. I will begin working full time once our kids start elementary school and my income will be designated for real estate investments.

  • Joeygoat
    Submitted by   at 7:20 PM on December 4, 2008

    I am glad I am not the only 'budget' guru around here. I made a plan and stuck with it, and now I am enjoying the benefits from that prudent planning.

  • Joeygoat
    Submitted by   at 8:18 PM on December 5, 2008

    I was working on the long term budget, and I will be debt free in July 2012. Yeah! Then I can begin to save for long term. I have a small savings now, it took a hit when I paid off the a/c unit and the one doctor bill I had. So, I am building it up slowly.

  • debra_beng...
    Submitted by   at 9:54 AM on December 8, 2008

    We plan to have everything paid off in full, but we'll also have savings and my husband's retirement fund (we pay into each twice a month.)

  • youlookin4...
    Submitted by   at 3:11 PM on December 11, 2008

    We hope to self-sustainable in the next 10-15 years, we know that its a long time but we don't use credit( by choice not credit) we are very realistic about how long it will take us(unless we hit it big LOL) but we have a dream and we really want to achieve that goal.

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