Guess we'll be settling in for a while

As I said in a post not too many posts back, this blog may have grown less needful.  It started as an outlet for the angst that had built up through the years around a career too full of unsatisfying career moves and un-looked for disruptive relocations.  Now living here, in the modest sized and low-key capital of a corn-belt state, working for a company that has a genuine purpose & mindset to support ministry organizations, and which offers me a professional stretch in my duties almost daily, I wonder to myself: "where has all that angst gone?"

I promised myself I'd put in 3 years here, to give it a solid go, and then see if I want to re-up for another 3+ years, or... switch jobs, or... retire.  Well, that first three years finished up in June, as did our role as long-distance landlords when that hanger-on of a house finally sold up north.  Real estate is definitely cheaper here, and a similar house costs at least $75K less, if not even more than that.  Interest rates are low, comparatively speaking (the first digit is 3!), as are property taxes.  So... with work going well (including some international travel coming up this fall - stamps in the passport, woo!), it seemed possible to consider a late-career investment in a retirement nest egg that we could actually live in.

The idea of going into retirement without debt is a prime goal.  Going into it with a paid-off house and no monthly rental or mortgage payments didn't seem likely.  But it would sure give a lift to the way our retirement planning models look; the last time we assumed monthly rent would be required.  Yet, to buy a house here, with the intent to pay it off by retirement, would mean...  oh, my...  wait for it...

staying put!  

For a long time!

Those of you who know my history might be laughing along right now.  16 addresses over 37 years of work doesn't indicate much success at staying put.  From job dissatisfaction, to selloffs & mergers, to advancement relocations, the longest I've stayed in one place has been 5 years.  We're now at 3+.  Another three would set a personal record.  Now, I had hoped to retire early, like in two-three more years, but as they say "the best laid plans of mice and men oft go astray."  Financially, I believe I'll have to work a bit longer than that.  But at this place, in this job... I might actually WANT to.  :)

My "normal retirement age" (as the SSA defines it) is 8.5 years out.  At that point, I can start drawing on an old pension plan from the creepy company that really got this blog going in the first place.  Those guys owe me, man!  (literally and metaphorically.)  And at that point, Social Security benefits are at their normal levels, too - so retiring is pretty feasible.  But, still... 8.5 more years in one spot?  With the 3 years we've been here already, that puts the whole duration at more than double my longest prior stint.  Is this reasonable?  And, could I possibly pay off a mortgage in 8.5 years?  Even more, could we find a house at the right price in the right location with the right features?

This week, the answers wound up being yes, yes, and yes.  I have a job I enjoy that's providing a professional stretch in the twilight of my career... we found a house that is the right size, in a good location, with the setup we want... and a local lender offered a monthly payment including property tax escrow, offset by income tax deductions we haven't had for 3 years, which puts us about $150/mo more than our current rent.   So for an extra $150/mo, we can own a nice house, and pay it off right as I reach retirement age.  That's a deal I'll take all day long.

For a guy in my profession, where the past is used to predict the future, this is a dicey proposition.  Yet, it seems solid.  I'll take the chance that I can weather disruptions, and remain personally & professionally content.  We close on October 15th.  Wish me luck!