It has been a long tough road to get to this point but I’m excited to say that my husband and I are finally ready to find a “forever” home for our family. A house of our own where the payments are no longer made to a landlord. I have been renting ever since I moved out on my own. We were just getting to a good place financially, debts paid off or behind us when I became pregnant with my daughter. She is a wonderful surprise that I’m thankful I was blessed with each and every day, however it definitely put our financial plans into a tail spin.
We had to move to a bigger home which increased our monthly home payment by $400 a month and added a weekly daycare expense. It was not easy getting through it all and our credit suffered. However it was this experience that really thought me how important it is to plan for your future. I want to be able to retire one day and not worry about where I’m going to live or how I’m going to get food on my table.
This weekend my husband and I met with a very awesome and forthcoming mortgage broker here in South Florida. After he explained each process we would go through, and went over in depth the fees we would be responsible for I found myself quite comfortable with the idea of taking this big step in our future plans. We left the office with a pre-qualification letter that we can present to our realtor. Our next step is to find that perfect home for our family.
Our choices are limited due to my unwavering need to keep my children in their same schools. When I was young my family moved a lot, and just far enough that I would have to enter a new school. I hated this and really wanted to do all that I could to keep my children from having to do the same. I want them to grow up with the same friends and sense of blogging to a community. We have tons of schools in our area so having children in three different schools and keeping them in those schools means we have a limited area to find our home.
One of the main reasons I want to purchase our own home is to ultimately start preparing for our retirement. Our mortgage broker even told us we could shave 5 years off our loan by making one extra principal payment a year. In addition to a new home, this past year I finally signed up for the 401K at work. I know I’m behind when it comes to savings but any savings is better then no savings. The pass changes in the economy definitely made me think about my future in a different light. Ready articles didn’t always help unless I read a good one on how to prepare like Guaranteed Income — for Life. The article speaks about using your retirement founds and gives you good advice on annuities which is not something I was very familiar with.
Retirement Information from Genworth
Genworth has some great information on annuities including what they are and how they can help.
- See how a fixed annuity can help you reach your goals
- Find out how fixed annuities can grow your money
- Learn how fixed annuities can guarantee your retirement income
Do you own a home? What is your perfect home look like?
Disclosure: This post has been inspired by Genworth through Brandfluential. All opinions are my own.