http://www.early-retirement.org/for...ady-to-go-to-new-mexico-32123.html#post593749
Hi all,
This is an update on our situation since I posted the above in 2007. Hard to believe almost 3 years have passed since I posted this. Changes since the 2007 post:
Savings now 460K (down from 568K)
Still no pension for either DH or me
Work situation/additional savings same as in 2007
Want to retire in 5 years
Figure we can live on 40K per year
SS for both will total 22K/year at age 62.
Firecalc shows 99% successful based on 30% stock, 70% bond split, and factoring in SS at 62.
Only debt is 99K owed on the land in New Mexico.
House is now probably only worth 300-320K (down 100K from 2007)
The worry is that we now won't be able to sell the house, pay off the land in New Mexico,and still have enough money to build on the land. We've considered selling the land and staying put in our paid for house, and banking the money we are currently paying on the land. But land on the development is not moving right now, so it isn't an option-may be in a few years. In the meantime, we continue to enjoy living here in small town Northern California, continue saving, and enjoying life. Luckily, DH does not mind his job, is having fun playing in his instrumental rock band, "Points North", and I continue to make a little money (15K/year)gardening. Have also taken up watercolor painting, which is a great creative outlet for me. So life is pretty good, but the last few years have been a bit discouraging.
Thanks for listening, and any comments are welcome.
Mango
Hi all,
This is an update on our situation since I posted the above in 2007. Hard to believe almost 3 years have passed since I posted this. Changes since the 2007 post:
Savings now 460K (down from 568K)
Still no pension for either DH or me
Work situation/additional savings same as in 2007
Want to retire in 5 years
Figure we can live on 40K per year
SS for both will total 22K/year at age 62.
Firecalc shows 99% successful based on 30% stock, 70% bond split, and factoring in SS at 62.
Only debt is 99K owed on the land in New Mexico.
House is now probably only worth 300-320K (down 100K from 2007)
The worry is that we now won't be able to sell the house, pay off the land in New Mexico,and still have enough money to build on the land. We've considered selling the land and staying put in our paid for house, and banking the money we are currently paying on the land. But land on the development is not moving right now, so it isn't an option-may be in a few years. In the meantime, we continue to enjoy living here in small town Northern California, continue saving, and enjoying life. Luckily, DH does not mind his job, is having fun playing in his instrumental rock band, "Points North", and I continue to make a little money (15K/year)gardening. Have also taken up watercolor painting, which is a great creative outlet for me. So life is pretty good, but the last few years have been a bit discouraging.
Thanks for listening, and any comments are welcome.
Mango