Financial stability

First I wanted my undiscovered country to be financially stable. That meant I wanted positive cash flow every month. Every month. Not up one month and down the next. But my revenues exceeding my expenses on an ongoing basis.

First, I had to get my revenue solid and consistent so that I would know what it would be. I was 63 at the time. Real Estate was giving me nothing anymore and with the great recession at full bore with unemployment pushing 10+ percent and no immediate prospects of that turning around my first job was to figure out where my money was coming from.

I could wait on applying for social security or I could do it right away. The upside of waiting was that my monthly payment would be higher if I put off applying for Social Security until I was 65. How much more.

I got the figures each way and did a little time-sequence analysis. I found it would be a good 20 years before my delayed income would make up for what I was losing by not signing up. So I signed up. My other salary potential is capped, but so far no other outside salary is likely to come along in the near future so not to worry.

More on this next time