Hello Everyone!
I am pretty new to MMM and his teachings and I am BRAND new to forums...so please be kind!
My husband and I are about to make a huge change in our lives, and after reading many financial blogs, I just feel all over the place with what our next move should be. Any advice, or even some encouraging words would be greatly appreciated!!
Right now we own a small personal training studio that we plan to sell in April.
Why sell?
Well #1. We are just bored with our job. Although we grew it to be something very successful, it just doesn't bring us joy anymore.
#2. We HATE where we live. Hate the town, hate the weather, so we want to move.
This bring us to our (not so great) "plan."
Our plan is to sell our gym in April so we can go on a 6 month (approximate) backpacking trip and hike the entire Pacific Crest Trail. Once we return, we plan on moving to Charleston, SC and find completely new careers---with any luck.
We decided on this plan about 6 months ago, and at that same time I stumbled across MMM's blog. When we first decided to do this trip, we had lots of debt--credit card debt, student loans, and a car loan. Our goal is to have all this debt gone before our trip in April, and I am happy to say we have just $5000 left of our car loan, and then we are done-zo! Bye Bye debt!
My question to you is, what do we do when we get back from this trip??
We should have no debt, but very little, to no money to our names except for what we sell the gym for (about $20,000 after tax).
Do we invest it (real estate, index funds, etc.)? Do we just try to survive and get new jobs with the hopes we don't spend too much money in the process? Or, are we just dumb for making this jump to begin with??
I am young, immature, but motivated and have the dream of being financially independent one day. Please help! I'll be listening.
Thank you,
-M