Join Early Retirement Today
Reply
 
Thread Tools Display Modes
"Agonizing" over ER until it's no longer E. . .
Old 08-13-2008, 12:44 PM   #1
Confused about dryer sheets
 
Join Date: Aug 2008
Location: Half Moon Bay, CA
Posts: 2
"Agonizing" over ER until it's no longer E. . .

Located ER forum while browsing your excellent Airstream Forum. If it's half as useful, it will be time well spent. All of your collective wisdom and experience is what makes these forums so helpful.

My wife feels that both belt and suspenders, plus 5 rental units, are not enuf to assure retirement funds because all property is not free and clear.

I'm looking at cash flow, which is consistently positive in spite of healthy additions to 401 K, property equity, etc., which seem to indicate that our years of work, saving, and investment, will enable us to coast through the promised land of retirement. Toys such as sailboat and travel trailer are paid for, and defined benefit retirement income will cover fixed expenses, and increase at COLA and inflation rate.

Years ago I heard about returning ALL early SS payments, (keeping the interest) and resetting to standard SS payout at age 65 or 66. I'll repost this in the appropriate thread, but indicative of my curiosity about retirement schemes and perhaps SCAMS.

Jim, age 61 1/2, $2M real estate, 1/2 equity; pension should produce reliable 75% of current income - or $75K based upon about $100K/year, which includes health insurance at no additional expense! And a random selection of investments in oil & gas, stocks, options, education, and for the time being at least - good health and attitude!

How have you resolved differences in comfort level such as my wife's and mine?

Looking forward to entering data into your various calculators to estimate returns and risk. Which do you find to be most useful? And what are your most reliable sources of information? What's most scary about the big leap, and how have you dealt with it positively? What else should I be asking myself, and you all?

And many thanks to the Mods and software developers that make the internet such a useful tool.

How many of you will be at Burning Man 2008? Want to hook up?

Jim; Half Moon Bay, CA
jsutro is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-13-2008, 01:06 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Feb 2006
Posts: 1,183
Welcome aboard Jim!

Sell 2 or 3 of the rentals and pay off the others. Maybe she will be happy then and you will have less rental indigestion moments?

You should be Golden and she needs to learn retirement math. Unless the pension has no survivor option?

Most valuable calc hands down is Firecalc. Info comes from all sources and then I perk it for myself.
crazy connie is offline   Reply With Quote
Old 08-13-2008, 01:43 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
Welcome! It sounds like you've got a lot to think about...resolving those comfort level differences matter a lot more than the dollars do.

So what Airstream you got? We've got a number of RVers on here--a few fulltimers even. I've got an old Argosy coach which I adore, but sadly, will not likely ever take to Burning Man as I fear breakdowns so far from home.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 08-13-2008, 01:46 PM   #4
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,267
Which one of you works, or is it both?

If your current numbers aren't enough for her, have you asked her to give you a defined number or goal? If her response is just "more" and "not now" it's not a math thing at that point.

Welcome aboard!
laurence is offline   Reply With Quote
Old 08-13-2008, 05:59 PM   #5
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,856
Welcome to the board, Jim.

Quote:
Originally Posted by jsutro View Post
My wife feels that both belt and suspenders, plus 5 rental units, are not enuf to assure retirement funds because all property is not free and clear.
How have you resolved differences in comfort level such as my wife's and mine?
Speaking from personal experience, I'm pretty sure that "ER landlord" is oxymoronic.

You could eliminate a lot of hassle by starting to sell out over the next few years. Or let her take over the landlording...
__________________
*

Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."

I don't spend much time here— please send a PM.
Nords is offline   Reply With Quote
Old 08-14-2008, 05:36 AM   #6
Recycles dryer sheets
 
Join Date: Jun 2007
Location: Oklahoma City
Posts: 338
Hmmm, Tell her, ever so politely, that you understand her apprehension and are fine with HER continuing to work until she feels more comfortable! :P

Bet she will come around real quick when she sees all the fun your having in retirement.
__________________
USAF Veteran -- Retired Air National Guard -- OSW -- ONW -- OIF
militaryman is offline   Reply With Quote
Old 08-14-2008, 02:54 PM   #7
Dryer sheet aficionado
 
Join Date: Jan 2008
Posts: 28
I am 59 and have been retired for a wonderful 3 years. My 49 year old brother, whose net worth is many times my own, still pursues the almighty dollar. Yesterday my 49 year old brother was diagnosed with colon cancer. When will people realize that the dollar is not everything. Take the time to smell the roses and relax while you can!
BanDit1 is offline   Reply With Quote
Old 08-14-2008, 03:30 PM   #8
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
Welcome to the board, Jim. You might model a few possible scenarios in FIRECalc since it can give you an estimate of the chances of "failure." Perhaps your DW will feel more secure once she has seen that at a given income, age, savings, etc. the chances of success are 99% over the past 100 years.
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
Rich_by_the_Bay is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
"Four Season" or "Arctic Package" RV reasonable? bamsphd Travel Information 27 03-24-2010 11:36 AM
"Gut feel" versus "evidence-based" medicine Buckeye Health and Early Retirement 10 11-08-2007 10:21 AM
My "Core Plus" Strategy - Feedback on the "Plus" part? milmoose Young Dreamers 24 11-01-2006 09:41 AM
Anyone notice "Osama" sounds like "Obama" ? Mr._johngalt Other topics 50 10-29-2006 05:41 AM
Book reports: "Blink" & "Tipping Point" Nords Other topics 2 12-04-2005 04:15 PM

» Quick Links

 
All times are GMT -6. The time now is 05:48 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.