Word of the Year 2020: Build 8: Money

ATM in Yerevan, Armenia. March 2012.

On Build thus far

Word of the Year 2020: Build 1: After the Floods
Word of the Year 2020: Build 2: Fronterista
Word of the Year 2020: Build 3: "House"
Word of the Year 2020: Build 4: Chosens
Word of the Year 2020: Build 5: It Takes a Village
Word of the Year 2020: Build 6: Elevation
Word of the Year 2020: Build 7: Trail Building




Last month, I said ....

If I visualize a long trail such as the Appalachian Trail, there are sections, each with different geographic and climate features. I can divvy up my through hike into sections, too:

1. Money
2. Health
3. Relationships
4. Service and activism
5. Creative life
6. Rootless goals I want to achieve

This month is about money. 

About money in the context of this year's word: Build. About money for the future.

Why?

My mission: Live independently for as long as possible while maintaining a pleasing quality of life. 

I have a three-stage strategic plan:

• Until age 70
• Age 70-80
• Age 80 - demise

I've drafted this post several times, only to scratch out the draft, start over, scratch it out, start over.

Got too involved in sharing details that, at the end of the day, are relevant only to me.

Really, all that matters are:

First: Have a plan. 

1. Have a plan to bring in money.
2. Have a plan to save money.
3. Have a plan for how to spend money.
4. Have a plan to deal with plan disruptions, as much as one can. 
5. If you've got consumer debt: have a radical plan to pay it down as fast as possible, without incurring new consumer debt.

In fact, have three plans:

• Short-term (now)
• Mid-term (five-to-ten years from now)
• Long-term (10 years and longer from now)

Second: Execute the plan.

And be ready to re-route the plan if the severity of an inevitable disruption requires it.


Related posts on money

• Being Debt-Free (October 2010)
• Ability to Be Rootless: The Seeds Sown (November 2013)
• Stuff: 10 Tips for Downsizing Your Money Life (February 2016)