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Old 01-05-2014, 12:05 PM   #101
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Ha, Seattle is a great city and I love visiting there. It sounds like it is the perfect city for you.

Our ideal location for a place to live would be some place cheaper, sunnier and even more Socialist.
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Old 01-05-2014, 12:20 PM   #102
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Does that mean a place where retirement income will not be taxed, and early retirees will enjoy "free" healthcare and other benefits, same as the dumb workers who toil till their 60s and beyond? Count me in, as I like to get some free benefits too. But they will have to make it easier to apply. I have not bothered with ACA yet this year because of all the horror stories other posters reported. Eventually, I will want mine.
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Old 01-05-2014, 12:31 PM   #103
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Does that mean a place where retirement income will not be taxed, and early retirees will enjoy free healthcare and other benefits, same as the dumb workers who toil till their 60s and beyond? Count me in, as I like to get some free benefits too. But they will have to make it easier to apply. I have not bothered with ACA yet this year because of all the horror stories other posters reported. Eventually, I will want mine.
Sunny, low cost of living, able to work online, low cost of health care, not too far from where the kids settle, beach access, tax haven or acceptable tax treaty with the U.S., Socialist but no wealth tax or prospect of it, no drone program, residency permit - all things to consider. I'll let you know when I have a short list compiled.
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Old 01-05-2014, 12:36 PM   #104
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I used to think of retiring in Provence, but have given that up. It's too much work.

Regarding getting good and free healthcare, many (all?) of these Socialist countries are protective of their "free benefits" and do not want to "share" with foreigners. Canada is the nearest example.

These Socialists can be selfish and parochial.

PS. A while back, I share a story I read from a blog by a Canadian. She moved from her province to the province of Yukon, and it took her 1 year of fighting red tape to get residency to get healthcare.
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Old 01-05-2014, 12:40 PM   #105
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I used to think of retiring in Provence, but have given that up. It's too much work.

Regarding getting good and free healthcare, many (all?) of these Socialist countries are protective of their "free benefits" and do not want to "share" with foreigners. Canada is the nearest example.

These Socialists can be selfish and parochial.
The welfare state is incompatible with open borders. So far the US is turning a blind eye to this obvious truth, but we will have to learn. Slowly and painfully re-inventing every wheel as is our usual procedure.
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Old 01-05-2014, 12:57 PM   #106
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Regarding getting good and free healthcare, many (all?) of these Socialist countries are protective of their "free benefits" and do not want to "share" with foreigners. Canada is the nearest example.

These Socialists can be selfish and parochial.
We have some family ties / dual citizenship issues in our favor. There are many people who retire outside the U.S., even without dual citizenship so I don't think that is an insurmountable issue. Maybe for places like New Zealand or Canada. I don't know what we will end up doing. It is just cool to have possibilities. We have a lot of traveling around and checking out to do before we decide and that will be fun in itself.

First we have to get the kids out of school and self supporting, a house fixed up and staged to sell and years of clutter to sell, donate, or dispose of.
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Old 01-05-2014, 03:35 PM   #107
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I used to think of retiring in Provence, but have given that up. It's too much work.

Regarding getting good and free healthcare, many (all?) of these Socialist countries are protective of their "free benefits" and do not want to "share" with foreigners. Canada is the nearest example.

These Socialists can be selfish and parochial.

PS. A while back, I share a story I read from a blog by a Canadian. She moved from her province to the province of Yukon, and it took her 1 year of fighting red tape to get residency to get healthcare.
I have moved between provinces and getting health care was a snap. Canada is currently governed by a right of centre party. At least the rest of the world would think so. Americans think we are socialists. All compartative i guess.
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Old 01-05-2014, 06:07 PM   #108
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I think ClifP more means the kind of rich that when you are siting at your 25th college reunion table with your still attractive wife, some former classmate comes in with someone who looks like an 18 year old Penelope Cruz, and you think, that b*stad has lapped me 1000 times!
When we're young we want to be older.
When we're older we want to be rich.
When we're rich we want to be young.

Human nature.
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Old 01-05-2014, 06:48 PM   #109
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I was so looking forward to the deaccumulation stage and now we have to try to make even more so we can die with the most toys? Dagnabbit.
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Old 01-05-2014, 07:06 PM   #110
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No, no more toys. Just enough to go see more of the world, not by staying in 5-star hotels but not in hostels either...
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Old 01-05-2014, 07:18 PM   #111
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No, no more toys. Just enough to go see more of the world, not by staying in 5-star hotels but not in hostels either...

Yeah, we had that stuff covered already.
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Old 01-05-2014, 07:38 PM   #112
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No, no more toys. Just enough to go see more of the world, not by staying in 5-star hotels but not in hostels either...
Some of the frequent flyer bloggers seem to be able to fly and stay at five star hotels for free. I have been following the blog for the blogger in this article and the posts are quite intriguing, without even getting into the dodgy stuff, and just opening and closing assorted cards with bonus points on a regular basis, and doing regular spending -

How the Rube Goldbergs of Credit Cards Fly First Class for Free | Motherboard
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Does anybody want to be rich when they get old?
Old 01-06-2014, 01:10 AM   #113
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Does anybody want to be rich when they get old?

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I have moved between provinces and getting health care was a snap. Canada is currently governed by a right of centre party. At least the rest of the world would think so. Americans think we are socialists. All compartative i guess.

What Danmar said. Canada's current Federal government is, by Canadian standards, extremely right wing and could not by any stretch of the imagination be considered socialist.

I immigrated to Canada years ago and have lived in three Provinces. When you move, the Province you leave covers your health care for 3 months, giving you time to set it up in the new province. The process was extremely easy in all three Provinces. The Yukon blogger quoted by NW-Bound may have had difficulty accessing insurance because of that Territory's bureaucratic procedures, or difficulty accessing health care because the Yukon is a remote and sparsely populated territory where there are few specialty services. This question might be clarified if NW-Bound could provide a link to the blog to which he referred.
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Old 01-06-2014, 01:51 AM   #114
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For me, it is more about efficient use of resources I have at my disposal, which puts me squarely in the "enough" camp rather than striving to be "rich". Having said that, with most of my ER income being derived from a government pension, I will have most of my other ER stash in shares, because that provides the best (historic) long term return and is therefore efficient, albeit very volatile at times.
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Old 01-06-2014, 02:13 AM   #115
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...
I immigrated to Canada years ago and have lived in three Provinces. When you move, the Province you leave covers your health care for 3 months, giving you time to set it up in the new province. The process was extremely easy in all three Provinces. The Yukon blogger quoted by NW-Bound may have had difficulty accessing insurance because of that Territory's bureaucratic procedures, or difficulty accessing health care because the Yukon is a remote and sparsely populated territory where there are few specialty services. This question might be clarified if NW-Bound could provide a link to the blog to which he referred.
I made a post a while back on what I read. It is here.
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Old 01-06-2014, 06:39 AM   #116
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The answer the question asked in the title of the thread, I don't want to be rich as I get old but I do not to worry about money either.

I feel rich by being healthy already, having more money is secondary.
+1

At this point in my life health and time are what make me feel rich. Still in good health, still able to spend time with my DW without the need for chemical enhancement (), and being able to more time on what I choose to do (including work) are primary.

I've always been wary of focusing on being rich as I've seen many folks who are and are just not enjoying life. I've reached the point where I have enough to enjoy my life, with the bonus of being able to help others - not in ways I think are big, but in ways they see as big - and I'm very happy with that.

My main temptation towards richness is not to get more "things", but to avoid ever becoming a financial burden on someone else.
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Old 01-06-2014, 09:41 AM   #117
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We hear a lot about "rich" people being unhappy, or shallow, or focused on the wrong things,etc. Not saying these anecdotes are not true but I am a very happy guy doing real fun stuff and have no worries be they financial, health, relationships, etc. I may be the exception that proves the rule but I doubt it. At least for me life is really good. Cheers.
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Old 01-06-2014, 10:52 AM   #118
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My grandmother had what for her day made her rich. She said often, "It's much better to be rich, it solves so many problems". And she wasn't referring to her devoted children or her many friends, or her influence on her parish, she was referring to her mink and all those lovely checks that arrived in her mail drop week after week.

But then she was a down to earth person who called 'em like she saw 'em. She also wasn't one to consult a study to learn what made her happy.

Ha
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Old 01-06-2014, 11:02 AM   #119
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We would probably be considered rich via the OP definition. We have a very conservative AA for our liquid portfolio but we also have a significant allocation in alternative investments (rental vacation real estate and private business shares).

Total portfolio as of 10/1/2013
6,100,000

Percent in stock market equities
37%

Percent in bonds/short term/cash
48%

Percent in income property and private shares
15%

We have a WR of 2.55% or about 160k before taxes. Currently about 100k of that WR is covered by cash flow from the 15% allocation to real estate and private shares.

My point is that over allocating to stocks is not the best or surest way to get rich. Most significant wealth is created by either real estate or private business ownership. But both take knowledge and work, even as a passive investor.

I've gone from a net worth of 0 at age 30 to a net worth of 6.5M at age 44 and ERed at 43. Up to age 30 my wife and I lived on an income of less than 50k year (sometimes much less). So we know both living frugally and living flush.

Flush is better.

With all of that said, being flush with cash does not make us happier than before. It buys us security and freedom. Nothing more, nothing less. The happiness part is up to us.
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Old 01-06-2014, 11:30 AM   #120
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Does anybody want to be rich when they get old?

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We hear a lot about "rich" people being unhappy, or shallow, or focused on the wrong things,etc. Not saying these anecdotes are not true but I am a very happy guy doing real fun stuff and have no worries be they financial, health, relationships, etc. I may be the exception that proves the rule but I doubt it. At least for me life is really good. Cheers.

Believing people cannot be wealthy and happy is a form of sour grapes, a protective mechanism, IMO. That belief is just the flip side of poor but happy: "Not much money, oh, but honey, ain't we got fun?" And "One day you'll look back on this and realize these were the best days of your life."
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