Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Is $1million enough
Old 10-22-2006, 01:19 PM   #101
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,638
Re: Is $1million enough

Quote:
Originally Posted by GolferAndy
If it's a new (or new-ish) home.. 3% is perhaps too high. But when you include longer-term re-modeling costs.. 3%/yr. is about right. Also depends some on climate.
This has to be one of those features that are true at one point in time but change later, like "make your age" was the mantra in the 60s. My house has doubled in value over the past several years. Maintenance costs haven't changed much at all around here. For me, if they were 3% a few years ago, they must be at 1.5% now.
__________________

__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff 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!

Re: Is $1million enough
Old 10-22-2006, 01:38 PM   #102
Dryer sheet wannabe
 
Join Date: Jan 2006
Posts: 24
Re: Is $1million enough

Quote:
Originally Posted by donheff
This has to be one of those features that are true at one point in time but change later, like "make your age" was the mantra in the 60s. My house has doubled in value over the past several years. Maintenance costs haven't changed much at all around here. For me, if they were 3% a few years ago, they must be at 1.5% now.
If your house has doubled in value over the past several years, you are extremely fortunate. I've owned a home in a major metropolitan area for 14 years and it's value hasn't kept up with inflation.
__________________

__________________
GolferAndy is offline   Reply With Quote
Re: Is $1million enough
Old 10-22-2006, 01:50 PM   #103
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Re: Is $1million enough

Quote:
Originally Posted by Running_Man
my limited impression is that these small towns are really not friendly towards Northerners looking to relocate to their small town for early retirement. So building fruitful friendships could be more challenging.
Just as an FYI, small town folks in the north are not really friendly towards non-locals relocating to their towns for early retirement.......
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Re: Is $1million enough
Old 10-22-2006, 02:52 PM   #104
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,457
Re: Is $1million enough

Another option for the frugal financially independent person:

You can still do some things here and there to bring in a little extra cash. You are financially independent which means that you can choose not to work a full time career. But you can still do seasonal stuff or opportunistic stuff.

If there are some things you enjoy doing that cost money, then you have the flexibility to find ways to do them cheaply or at no cost. If you enjoy travel - you can figure out how to serve as a tour guide or do some seasonal stuff in a favorite destination. If you enjoy sailing, you can serve as crew on someone's boat on a part time basis. There are also all sorts of "volunteer" positions where you get benefits - free access to concerts or conferences or campsites, etc.

When you have the available time, you can really stretch those dollars if you are so inclined.

Audrey
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Re: Is $1million enough
Old 10-22-2006, 04:04 PM   #105
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2005
Posts: 5,408
Re: Is $1million enough

our goal is 2 million in savings before we pull the plug. we will figure about 300-350000 for a house out of that, social security and a 20,000 a year pension will add to it.
__________________
mathjak107 is offline   Reply With Quote
Re: Is $1million enough
Old 10-22-2006, 07:44 PM   #106
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,835
Re: Is $1million enough

Quote:
Originally Posted by mathjak107
our goal is 2 million in savings before we pull the plug. we will figure about 300-350000 for a house out of that, social security and a 20,000 a year pension will add to it.
Well I think that I could probably make $1M work for me, but it'll be a bit tight. I'll get US and European SS cheques and a small pension at 65, but to just to be on the safe side I think I'll take a part time job. If I can get $10k to $20k I'll be in very good shape.
__________________

__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

Current AA: 65% Equity Funds / 20% Bonds / 7% Stable Value /3% Cash / 5% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
nun is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
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


 

 
All times are GMT -6. The time now is 01:45 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.