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Hi This is Todd in Minnesota
Old 04-28-2017, 03:24 PM   #1
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Hi This is Todd in Minnesota

My job has taught me a lot about what works and what doesn't regarding retirement. (I am a tax preparer). It's interesting to view the topic from the perspective of those on this board. The foundation of our retirement will be based upon no debt, social security (no pensions), a paid for home and RV, and modest savings in all 3 tax buckets. (Taxable, tax deferred, and tax free). My observation is that most retirements that go amok financially involve folks who go in with mortgages and other debt and no clue about their spending patterns. We are accountants and have no trouble living within our means. By the same token, we don't have deep pockets and don't want to make any mistakes. Looking forward to participating in this forum.
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Old 04-28-2017, 03:28 PM   #2
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Welcome! It sounds like you'll fit right in.
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Old 04-28-2017, 07:45 PM   #3
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Welcome Todd. I'm in Cottage Grove.
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Old 04-28-2017, 10:41 PM   #4
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Glad you are joining us It sounds like you are on the right track, but when are you planning to retire or have you already?
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Old 04-28-2017, 11:29 PM   #5
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We only work FT during the tax season...we get plenty of time to practice retirement (we love it) during our off season. I have a health issue that is causing me to want to fully retire. Hence my interest in this group. We are 56/58 and my own calculations indicate we can do an "early out" at 60/62 and maintain everything we want including the RV which we travel/camp in extensively. Our "forever home" of 16 years is a townhome on a private wooded corner lot with very little maintenance. If I didn't have the chronic health problem, I would work until 70.
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Old 04-29-2017, 01:18 AM   #6
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Welcome.

You aren't the only one who has a life event (health issue, job loss, death of a loved one) accelerating their retirement plans.
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Old 04-30-2017, 10:48 AM   #7
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Welcome Todd.

I'm a former neighbor, moved away from Eagan a few years ago.
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Old 04-30-2017, 11:08 AM   #8
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Welcome Todd! Former resident of Hastings here. Hope retirement goes well for DW and you.
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Old 04-30-2017, 01:34 PM   #9
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Welcome Todd. Woodbury resident here!
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Old 04-30-2017, 01:40 PM   #10
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Welcome. I look forward to hearing more from you.
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Old 04-30-2017, 02:54 PM   #11
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Why we've decided to maintain our forever home in MN...

Originally from the East coast, not automatically anchored in MN. But as we get closer to retirement, we've decided to maintain our "forever home" here for a variety of reasons...

1) Centrally located- we are RV'ers and like going East and West.
2) Low property taxes ($2000) 2BR 3Bath townhome.
3) Existing home is paid for and updated.
4) Weather is great here 8-9 months of the year.
5) Great health care access.
6) Minnesota Care is an option pre-65.
7) North Shore and driftless zone - favorite summer camping
8) Culture Orchestra Hall, Ordway, etc (Not sports fans but lots of venues here.)
9) Environment is clean.
10) At the end, good MA (we hope to never use) and near family to settle estate.
11). Low taxes, no sales tax on food or clothing, possible property tax rebate, and no income tax at our income level when retired.
12) Will work PT for new owners when we sell our 3 tax offices.

Nothing is perfect, we hate snow and cold but winters are very mild lately, we won't be fully retired for awhile to become traditional snowbirds.
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Old 04-30-2017, 03:40 PM   #12
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4) Weather is great here 8-9 months of the year.

Hmmm. I'm in St. Paul and get about 5-6 months of "great" weather per year. Guess I should move to Burnsville (for the property taxes, too!).
Oh, and welcome!
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Old 04-30-2017, 04:33 PM   #13
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Welcome to the forum. Sounds like you have good idea on retirement and with your background able to make it all work out.
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Old 04-30-2017, 05:40 PM   #14
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4) Weather is great here 8-9 months of the year.

Hmmm. I'm in St. Paul and get about 5-6 months of "great" weather per year. Guess I should move to Burnsville (for the property taxes, too!).
Oh, and welcome!
Lol, I was going to call him out on this one as well. Minnesotans are totally delusional when it comes to weather. Case in point, tomorrow is May and we've yet to get to the "nice weather". Given that September is our last month of really decent weather, that gives you May, June, July, August, September. That is 5 month MAX as May can be really iffy.

The problem is, you only realize the delusion once you stop working and can be home everyday to watch how the weather changes your life (vs going to office everyday and weather doesn't really change your life much).
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Old 05-01-2017, 06:25 AM   #15
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Minnesotans are totally delusional when it comes to weather.
+1
I have friends who live in Burnsville and I honestly believe they simply don't notice the weather. Boggles my mind when I visit. Great people, though.
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Old 05-02-2017, 09:00 AM   #16
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Welcome, Todd! I'm in Saint Paul near the fairgrounds - love it!
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Old 05-04-2017, 09:48 AM   #17
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Other reasons we'll stick with MN as a base...
Use the bike trails which are extensive. We 're near the chain of lakes (Minneapolis) and enjoy the 20+ miles of dedicated bike trails, all paved and flat. Root River also a favorite, many more.
State Park system is 2nd to none.
Solid state economy (surplus).
Was biking in November and we had 50's in March. Our winters are shorter and milder, although we can still get hit hard.
We will eventually escape Dec-Mar but that's a ways out. Those are our working months in the tax offices, easier to work when it is cold outside.
Burnsville is near Minneapolis and St Paul, great shopping, housing, parks (top 10 dog park). Even a performing arts center. 20 minutes from all the big sports venues. I hate the heat and/or humidity of an Austin or Orlando or Phoenix.
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Old 05-04-2017, 10:16 AM   #18
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We're not delusional, we just acknowledge that "good weather" is relative and not only sunny and 70F - 80F. 60 in February this winter felt pretty damn good!!
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Old 05-04-2017, 07:37 PM   #19
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Our winters are shorter and milder....
Quote:
Originally Posted by Maenad View Post
We're not delusional, we just acknowledge that "good weather" is relative and not only sunny and 70F - 80F. 60 in February this winter felt pretty damn good!!

Yep, not delusional at all lol. We literally have one of the longest and coldest winters in the entire country. Tell yourselves whatever makes you feel better but the fact is, almost the entire country has a more pleasant climate than we do. I will say, I didn't realize it either until I stopped work and was home every day. Weather has a much greater impact on a retired persons day than it does to a worker.
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Old 05-04-2017, 07:56 PM   #20
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Welcome Todd. We are thinking of making Minnesota our permanent home. We have a cabin north of Duluth for our summer retreat from Texas heat. I'm a former resident and still have family in the state.
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