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10 year lookback

November 23rd, 2015 at 02:10 am

When I first started this blog, in 2006- I was working with my son, helping him start a business and also taking care of my parents. Back in those days, I was practicing very frugal living- and loving the challenge.

To supplement my income, I was breeding labs and working with the hub in his firewood business, splitting, stacking and selling firewood. Hard work, but enjoying the opportunity to be at home.

In the almost 10 years since- both of my parents have passed- and sadly my sons business failed.

I had went 'all in' on his business and invested most of my retirement savings into it. I knew it was risky, but I was so confident in my son and his determination. And when it finally failed, I knew the failure was because of the economic downturn of 2006-2009- rather than my son not giving it 100%.

I went back to work in 2007...and in the 8 years I have been back to work- I have rebuilt my retirement to where it was in 2006.

And now, 8 years later, my son is starting year 3 of rebuilding his company and doing great. 2016 marks an important turn in events- as he will start paying back my investment this year. This will put my retirement goals on the fast track- and for that, I am excited!!

If we stay on course, I will easily retire in 2019 or 2020- which will be 58 or 59. If my son's business continues as it has- he wants to hire me part as an advisor- which would help him and supplement my income nicely.

By then, if all goes as planned, our bills should all be paid in full with the exception of the house.

6 Responses to “10 year lookback”

  1. Carol Says:

    What a happy story! So nice to read!

  2. VS_ozgirl Says:

    So good to hear you made it through the hard times and things are much rosier!

  3. pjmama Says:

    A very happy story indeed! Just goes to show what determination and diligent saving can do for you Smile Great job!

  4. Ima saver Says:

    I joined about the same time you did and I remember your parents and your helping your son with his business. Glad to see that things are turning around for him and that you are looking forward to retiring. I have enjoyed, greatly, knowing you. I wish you a wonderful future!! (and all your family too)

  5. MonkeyMama Says:

    That's great to hear you that you are getting your money back! & that retirement is on your horizon. Woohoo!

  6. FrugalTexan75 Says:

    Such an awesome turnaround Smile

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