You have achieved your credit goals, what next.

[sjt]

Hi All,

For all of you that achieved your credit goals (clean reports, score improvement, attain your dream credit cards, etc.),  what are your next steps. Are your setting new goals? If so, what are they?

[CreditInspired]

A second home on the Chesapeake Bay. I was invited to a friend of a friend’s home who lives on the western side of the Chesapeake Bay. I cannot for the life of me forget that magnificent view, and how calming and relaxing I felt. So the goal is by 6/2022, and it might be earlier once Amazon completes it’s headquarters in Crystal City VA. The homes in the Arlington/Alexandria area is expected to jump ~$100K. I live in Alexandria and once that happens, I’m on the move. 😆

What’s your goal sjt?

[ChessChik47]

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@CreditInspired wrote:
A second home on the Chesapeake Bay. I was invited to a friend of a friend’s home who lives on the western side of the Chesapeake Bay. I cannot for the life of me forget that magnificent view, and how calming and relaxing I felt. So the goal is by 6/2022, and it might be earlier once Amazon completes it’s headquarters in Crystal City VA. The homes in the Arlington/Alexandria area is expected to jump ~$100K. I live in Alexandria and once that happens, I’m on the move. 😆

What’s your goal sjt?

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@CreditInspired we must be kindred spirits!!  I too am looking for a vacation home on a beach and thinking about Cove Point in Lugsby, MD.  I have friends that own a home there and they are right on the beach and it's just sooo lovely!  I went for Labor Day weekend and we had a blast.  I'm in DC and so Cove Point is about an hour drive away for me...just far enough to feel like vacation, but close enough to get home without feeling drained from the drive.  

[sjt]

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@CreditInspired wrote:
A second home on the Chesapeake Bay. I was invited to a friend of a friend’s home who lives on the western side of the Chesapeake Bay. I cannot for the life of me forget that magnificent view, and how calming and relaxing I felt. So the goal is by 6/2022, and it might be earlier once Amazon completes it’s headquarters in Crystal City VA. The homes in the Arlington/Alexandria area is expected to jump ~$100K. I live in Alexandria and once that happens, I’m on the move. 😆

What’s your goal sjt?

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Good question
I have learned to always PIF as part of being more financially responsible, but I can take it up a notch. limit spending, save more, and create a plan for retirement. 

[CreditInspired]

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@ChessChik47 wrote:

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@CreditInspired wrote:
A second home on the Chesapeake Bay. I was invited to a friend of a friend’s home who lives on the western side of the Chesapeake Bay. I cannot for the life of me forget that magnificent view, and how calming and relaxing I felt. So the goal is by 6/2022, and it might be earlier once Amazon completes it’s headquarters in Crystal City VA. The homes in the Arlington/Alexandria area is expected to jump ~$100K. I live in Alexandria and once that happens, I’m on the move. 😆

What’s your goal sjt?

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@CreditInspired we must be kindred spirits!!  I too am looking for a vacation home on a beach and thinking about Cove Point in Lugsby, MD.  I have friends that own a home there and they are right on the beach and it's just sooo lovely!  I went for Labor Day weekend and we had a blast.  I'm in DC and so Cove Point is about an hour drive away for me...just far enough to feel like vacation, but close enough to get home without feeling drained from the drive.  

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OMG ChessChik47, that's exactly where I was--Cove Point in Lusby! I had never even heard of Lusby before. She said Cove Point has 2 beaches. OMG, the view is unforgettable. 

Yep, the world really is small. 

[Anonymous]

Financial independence!

My main credit card goals were to be able to get big bonuses/good cash back, always have a 0% apr promotion available just in case, and high spending limits just in case.

Now that I've achieved all that, DH and I are setting our sights on starting a family and hopefully retiring early or some similar financial solution that allows plentiful quality family time.

[Anonymous]

Once our goals are met then its time for lofter higher goals.   One of my goals has been to get out of the fix and flip  business and use the money tied up in that to do all the things  I and dw want done around the house.  Unfortunetly I need the income to supplement our regular real estate business.   Card wise we have all the cards we will ever need but i would like lower apr and higher limits. 

[iced]

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@sjt wrote:

Hi All,

For all of you that achieved your credit goals (clean reports, score improvement, attain your dream credit cards, etc.),  what are your next steps. Are your setting new goals? If so, what are they?

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I never really had credit goals. I just figured that as long as I didn't do anything stupid my credit scores would address themselves.

I'm trying to remember exactly what I put down the last time there was a thread like this, not that my current goals have changed all that much. I'd say my short-term goal is to upsize to a 1,500+ square foot home and my long-term goal is to reach my retirement savings target number. Interestingly, the short-term goal is rather difficult and the long-term one is all but guaranteed; I had always imagined it would have been the other way around.

[Anonymous]

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@iced wrote:

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@sjt wrote:

Hi All,

For all of you that achieved your credit goals (clean reports, score improvement, attain your dream credit cards, etc.),  what are your next steps. Are your setting new goals? If so, what are they?

---

I never really had credit goals. I just figured that as long as I didn't do anything stupid my credit scores would address themselves.

I'm trying to remember exactly what I put down the last time there was a thread like this, not that my current goals have changed all that much. I'd say my short-term goal is to upsize to a 1,500+ square foot home and my long-term goal is to reach my retirement savings target number. Interestingly, the short-term goal is rather difficult and the long-term one is all but guaranteed; I had always imagined it would have been the other way around.

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I think  the finding  of a larger house is a good goal.  Since atleast in our area lower midatlantic/upper southern the supplies are almost non existant perhaps this can be a short to midterm goal.  If you are handy or have friends that are perhaps you can buy one that needs some work.  I know we have the only two houses for sale in our area for under $100,000 and both need about $30K to $50K in work but no one will touch them.  Some one will come along and get a good deal. Regular fixed price would be $200K each atleast  

[iced]

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@Anonymous wrote:

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I think  the finding  of a larger house is a good goal.  Since atleast in our area lower midatlantic/upper southern the supplies are almost non existant perhaps this can be a short to midterm goal.  If you are handy or have friends that are perhaps you can buy one that needs some work.  I know we have the only two houses for sale in our area for under $100,000 and both need about $30K to $50K in work but no one will touch them.  Some one will come along and get a good deal. Regular fixed price would be $200K each atleast  

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I wish we found properties that ticked our boxes for even 4-5x that much here. That said, we're slowly moving toward taking a broken fixer-upper just to get something that has the majors covered and is 1,500+ square feet in the neighborhoods we want. It probably sounds ridiculous, but even with a $1.5 million budget, we are struggling to find something that doesn't require another $250k worth of work, and what we do find has a lousy layout (cannot be fixed), no outdoor space at all (also cannot be fixed), or has ridiculous HOA fees (some are over $2,000/month) that push the affordability out of our comfort zone. The idea that I could still be forking over $3,000+ monthly in taxes and HOA fees for a home that's completely paid off is frustrating.

Even out in the burbs, we struggle. From what we can tell, most developers in suburbia want to buy up the older homes in our size, bulldoze them, and plop hideous McMansions in their place that are too big and too tacky for our likes. Nobody updates older homes anymore it seems.