Anyone else here forced to retire and scared to death?

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Ivinsfan, It's a holiday weekend the OP could be away. Vacation? Apartment hunting? OP probably couldn't get much done with many offices/resources being closed. Maybe OP doesn't have Internet access?
From the things that the OP has said about him/herself (lazy, etc.) and others (Geez, read his/her first post, OP is shocked at this forum. We had all the breaks.), I don't see any point in giving him advice. Besides, he/she has been given the same information over and over. There are other threads on this forum where many of us have talked about family and friends that don't save and blame others. If this is a real person OP wasn't forced to retire, OP did it to him/herself.
 
ivinsfan said:
.............. He put on a huge list of things he was going to do in one day and there hasn't been any update from him. ...........
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That is how these forums work. We don't owe the OP anything and he doesn't owe us anything. We can give advice or not, he can take it or not.
 
travelover said:
That is how these forums work. We don't owe the OP anything and he doesn't owe us anything. We can give advice or not, he can take it or not.
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I agree completely, just saying that I don't feel that the OP is being picked on, he has started a few threads and doesn't really seem bothered about our posts.
I think he's a pretty laid back guy.
 
This thread has been valuable even if the OP never posts again. Someone in the future who needs to break a lease to reduce living expenses is likely to find it helpful to hear the accumulated wisdom and experience.
 
travelover said:
Yea, blood in the water brings out the worst in people.
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-1 (minus one)

When the majority of us are forced to repeat advice (cut biggest expenses now) after OP comes back with the responses that he has multiple times - (can't break a lease - clerk told me so) do you really think this is the "worst in people"?

We don't know if he is intentionally or unintentionally misunderstanding. Maybe he is on some type of prescription medication that is his clouding his thinking (had a coworker experiencing this of and on for years).

Either way, repeating the advice that the majority have recommended when he comes back with very peripheral alternatives (ie change my asset allocation because total stock/total bond portfolio is not sufficiently diversified) I think the message is not getting through.

I have experienced this sort of thing in my immediate family so I may be overly sensitized to this sort of thing.

-gauss
 
gauss said:
-1 (minus one)

When the majority of us are forced to repeat advice (cut biggest expenses now) after OP comes back with the responses that he has multiple times - (can't break a lease - clerk told me so) do you really think this is the "worst in people"?

We don't know if he is intentionally or unintentionally misunderstanding. Maybe he is on some type of prescription medication that is his clouding his thinking (had a coworker experiencing this of and on for years).

Either way, repeating the advice that the majority have recommended when he comes back with very peripheral alternatives (ie change my asset allocation because total stock/total bond portfolio is not sufficiently diversified) I think the message is not getting through.

I have experienced this sort of thing in my immediate family so I may be overly sensitized to this sort of thing.

-gauss
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Or it could just be that he has some moral issue with breaking the lease... he did mention about his credit score, so there is that... he did mention about getting another apt with a bad reference also...

I have also found that there are many people who just do not think like I do... and my thinking has changed drastically over the years... when I was young, I would never have thought about breaking a lease.... now that I am older and wiser, I would do it if I were in the OPs position....

Same thing about paying a mortgage... had a friend who moved out of a condo in the 80s and kept paying... finally sold for $20K less than the mtg... he was scared they would come after him... but there were so many that they did not go after anybody.... he could have saved himself some big money.... today he might not pay (well, except that now they have a LOT more money and $20K is nothing to them)....
 
gauss said:
-1 (minus one)

When the majority of us are forced to repeat advice ............

-gauss
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Seriously? You were forced? I guess I have super powers because I can just click on the next thread when I want or even turn off the computer if it is bumming me out. :flowers:
 
This forum has not been harsh at all. If you want to see harsh go to Mr. MM forum.
 
ivinsfan said:
Yes, well the OP has also started 4 threads at the same time. And I've noticed he throws out a topic and seems to just sit back and read for entertainment purposes. I'm not sure what he wants from this board...
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Hey, I come here for entertainment too. This is the only forum I visit, and so I thought I would give back to tell ya'all some of my stories, sad as well as happy, hopefully providing some entertainment.

Piling on, I've seen worse. He put on a huge list of things he was going to do in one day and there hasn't been any update from him. I'm starting to think that some of the concerned posters here are more worried about his situation then he is.
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He was given some ideas, and is mulling over them. It may take a while to digest and to work out the details of implementation.
 
NW-Bound said:
Hey, I come here for entertainment too. This is the only forum I visit, and so I thought I would give back to tell ya'all some of my stories, sad as well as happy, hopefully providing some entertainment.


He was given some ideas, and is mulling over them. It may take a while to digest and to work out the details of implementation.
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Absolutely nothing wrong with any of that at all, I was responding to a few posters who seem to think the replies were mean and nasty. That's not how I see them. If a dozen people advise you to try to break your lease and move into cheaper quarters, is that piling on, or simply a consensus of liked minded people?
 
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I have enjoyed the thread, and can't hope that he addresses his health, more important than $$.
 
Under ideal conditions, I would not want to break the lease. I would if necessary. My primary advice was/is to make a realistic plan, then do it, now, not later. Could be that getting other arrangements made will use most or all the remaining lease period anyway, but in worst case, pack tfu and split. Easier to beg for forgiveness than to get permission...
 
Last time I broke a lease was about 32 years ago when I had been burglarized 3 times and the management didn't do anything.
But I think OP is right to consult a lawyer to review his options before breaking the lease. (I don't think breaking the lease is immoral but it's prudent to look at his options.) I visited Portsmouth a decade ago and liked it a lot; I'm not sure how much cheaper it would be than Richmond now, but I assume it would be noticeably cheaper. At the very least, moving to the periphery would be a reasonable alternative, even if one didn't go full Florida. Western Pennsylvania also sounds reasonable, if he wants to stay in the area--or more rural Maryland. I drive long distances without much thought, having lived in Texas, Oklahoma, and the West, so it's easy for me to post this. And, yes, get some part-time gig to keep body and soul together until SS. (I also think posting here is a good sign and showed some gumption; he doesn't have to necessarily draw up a 20 point plan in a day or two.)
I was lucky to pick my time to semi-retire on my own terms.
 
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RobLJ said:
I visited Portsmouth a decade ago and liked it a lot; I'm not sure how much cheaper it would be than Richmond now, but I assume it would be noticeably cheaper.
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I haven't researched it, but since the Hampton Roads area is a bustling metropolis with lots of jobs, I suspect apartments would be more expensive for the same thing than Richmond. Richmond may be the state capital, but it's not thriving. Plus Richmond is only about half as far away from the DC area, which the OP has indicated he has reason to stay close to.
 
I was out of town all weekend and did not check the Internet during the three days.

Now I have returned and saw that there were a number of posters who complained I had deserted the thread because I did not reply to their comments.

Basically until I check with the attorney on Wednesday, my life and planning is on hold. Though I did check the Internet early this morning and googled the term "Breaking your apartment lease due to unemployment." The websites had all kinds of horror stories about the apartment complexes blacklisting you from ever renting at a nice spot ever again and suing you for the rest of your lease and damages. So if I moved in the night to a cheaper town to save on my rent, in the end it could cost me more money because I could be paying rent in Richmond or Hampton Roads or maybe the town I grew up in (Saint Cloud MN) and then be sued for the rest of my lease plus damages and then get on a list of deadbeats and not be able to rent at a nice apartment for years. Tenant Screening websites such as this one:

Best Tenant Screening & Background Credit Checks on Renters
 
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OP: You are looking for every justification to stay in your expensive apartment and pretend nothing has changed. What you describe will never happen. Landlords, including corporate landlords, only sue when there are significant damages. It costs them a lot of money to sue. Since there is a legal requirement for the landlord to re-rent, the damages are going to be minimal. That's especially true if you give them notice, move, and leave the place clean.

Make it clear you are moving at the end of the month because you lost your job. Tell them you will do everything you can to help them re-rent the apartment and minimize their damages. Offer to show the place to prospective tenants. And then document your efforts.

Once they figure out you are moving no matter what, they should work with you. If they don't, that's another reason they would not have a successful court case. However, the rental business is just that - a business. Their objective is to maximize their revenues and minimize their losses. To do that, they want the unit rented quickly at the same or higher rent. Giving notice, showing prospective tenants, and keeping the place in pristine condition will allow them to do that. As a 20 year landlord, I'm pretty sure they are not going to sue you. Their damages are small. It's just not worth it.
 
Forced to Retire said:
I was out of town all weekend and did not check the Internet during the three days.
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What kind of progress have you made on the other items on your "to do" list of a week ago?
Forced to Retire said:
OK, someone asked me to stopping complaining and make some changes to my attitude and DO SOMETHING about my situation. So here is my plan for today:

Go to every temp agency in the area and push hard for temp work to tide me over until I can move.

Do more research into how I can use my $300K in my Fidelity Account to pay for my expenses so it won't run out before I die.

Talk to a legal aide attorney about how I can break my lease without destroying my credit so I could not rent in the future.

Look into selling some of my stuff to get a cash infusion.

Look into cancelling my $800 a month COBRA health insurance and going on Obama Care with federal subsidy.

Drive down to suburban Richmond VA and check it out. I can live there and be within 100 miles of my friends and family in the DC area but live in a cheaper more low keyed town. I see nice apartments advertised there for under $800 a month. I will talk to them about how I can rent without a job but with assets. (Maybe pay a year ahead in rent?)
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You do realize that links you posted is from an association of landlords, so what else would you expect to read there.
 
MichaelB said:
What kind of progress have you made on the other items on your "to do" list of a week ago?
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I think he's probably pretty busy keeping up with the 8 threads he's started at the same time.:angel:
 
This has gotten so ridiculous that I am laughing out loud and the dogs are looking at me funny:)) We were a landlord for awhile and we never sued anyone. We had people do damage and just kept their security deposit. As others noted it is not worth it to sue unless the damage done to the place is extensive.
 
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