Accidental Retiree
Thinks s/he gets paid by the post
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- Feb 17, 2012
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Retiring to Salton City, any advice?
- Thread starter Lwinner
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"You're subject line suggests you're looking for advice. But you seem to have all the answers and don't want any advice."
Fair enough Rodi, let me break it down. I'm not interested in advice on how to retire. I am looking for advice on being retired. I have to say some of the comments sure seem to be more interested in telling me what I can't do or what might go wrong or what I ought to be worried about rather than what I can do and how to enjoy life in retirement. Maybe I should have made it clearer up front just what kind of advice I want.
OK, I understand most people sweat the small stuff but I ain't one of them. There are 2 rules to a happy life. Rule 1 is, don't sweat the small stuff. Rule 2 is, it's all small stuff.
So if we can get past the why I can't do what I will do or why if I don't read a book on investing I must be an idiot, or trying to tell me what constitutes residency in Canada, etc. then maybe we can move on to advice of use to me. Advice on being retired and what might matter to me.
I'm looking for advice from people who are retired and don't need to work, on how to enjoy retired life. What to watch out for like turning into a drunk with too much time on my hands or how to spot a gold digger from a mile away etc. I wanna hear what people do with their time. I've got no interest in golf but I might look for a 40-45 year old lady who is outdoorsy or a Pilates instructor who has kept herself in shape. Any suggestions on how to find one? That I could use. Don't say join a health club, that ain't gonna happen.
If someone like mh lives near Salton City then I'd like to hear what lesser known attractions there are may be around or a good restaurant where you can get a good $5 breakfast. Or maybe the name of a good dentist over the border in Mexico in case I get a toothache. That would be useful advise.
Mh, I don't care if property falls to zero. I'm not buying to make a profit. If I do fine, if I don't fine. Where do you go and spend time between there and where you live? Doing what?
Hope I've made it clearer now.
Fair enough Rodi, let me break it down. I'm not interested in advice on how to retire. I am looking for advice on being retired. I have to say some of the comments sure seem to be more interested in telling me what I can't do or what might go wrong or what I ought to be worried about rather than what I can do and how to enjoy life in retirement. Maybe I should have made it clearer up front just what kind of advice I want.
OK, I understand most people sweat the small stuff but I ain't one of them. There are 2 rules to a happy life. Rule 1 is, don't sweat the small stuff. Rule 2 is, it's all small stuff.
So if we can get past the why I can't do what I will do or why if I don't read a book on investing I must be an idiot, or trying to tell me what constitutes residency in Canada, etc. then maybe we can move on to advice of use to me. Advice on being retired and what might matter to me.
I'm looking for advice from people who are retired and don't need to work, on how to enjoy retired life. What to watch out for like turning into a drunk with too much time on my hands or how to spot a gold digger from a mile away etc. I wanna hear what people do with their time. I've got no interest in golf but I might look for a 40-45 year old lady who is outdoorsy or a Pilates instructor who has kept herself in shape. Any suggestions on how to find one? That I could use. Don't say join a health club, that ain't gonna happen.
If someone like mh lives near Salton City then I'd like to hear what lesser known attractions there are may be around or a good restaurant where you can get a good $5 breakfast. Or maybe the name of a good dentist over the border in Mexico in case I get a toothache. That would be useful advise.
Mh, I don't care if property falls to zero. I'm not buying to make a profit. If I do fine, if I don't fine. Where do you go and spend time between there and where you live? Doing what?
Hope I've made it clearer now.
ArkTinkerer
Full time employment: Posting here.
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Have to ask--have you spent much time there? My parents use to catch fish there but after they released the info about the pollution they threw out any they had in the freezer and never fished there again. I visited many years back and I remember the smell as unpleasant.
Rotting Balls of Fish Flesh Invade Salton Sea's Shores
Rotting Balls of Fish Flesh Invade Salton Sea's Shores
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
I think you've identified what's wrong with this thread. The "tone" is off and does resemble rotten fish.
M Paquette
Moderator Emeritus
I did say it was an interesting area. Mostly noteworthy for being an agricultural drainage pit. And the Salton Sea isn't all that great, either. Big growth industry is meth labs and replacement mobile homes for the ones that blow up or burn down.
I think this Sojourn is about at an end. Time to give the System a rest. Right Guys?
FUEGO
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Sounds like you have the financial side pretty well sorted to the extent possible. Congrats.
I'm just curious about your choice of words. Do they really say "ain't" in Canada? Your word choice and vernacular read more southern US. Maybe you have spent too much time in the desert down here?
I'm just curious about your choice of words. Do they really say "ain't" in Canada? Your word choice and vernacular read more southern US. Maybe you have spent too much time in the desert down here?
Major Tom
Thinks s/he gets paid by the post
If you hang around here for a while and make a regular habit of reading the various posts and threads, you may well find some of the answers to your lifestyle questions. We talk about those things quite often here. I was about to say something on the subject of how your money, if invested in something "safe" and low interest with the bank, could slowly lose spending power over time, but you've made it clear you're not interested in information on investing. Maybe you've got enough of a lump sum that you don't need it to keep up with inflation in order to give yourself small, incremental raises, perhaps you'll find a way to slowly spend less and less over time, perhaps you'll have some kind of state pension from Canada to help with that - or perhaps you're just not going to "sweat the small stuff"."You're subject line suggests you're looking for advice. But you seem to have all the answers and don't want any advice."
Fair enough Rodi, let me break it down. I'm not interested in advice on how to retire. I am looking for advice on being retired. I have to say some of the comments sure seem to be more interested in telling me what I can't do or what might go wrong or what I ought to be worried about rather than what I can do and how to enjoy life in retirement. Maybe I should have made it clearer up front just what kind of advice I want.
OK, I understand most people sweat the small stuff but I ain't one of them. There are 2 rules to a happy life. Rule 1 is, don't sweat the small stuff. Rule 2 is, it's all small stuff.
So if we can get past the why I can't do what I will do or why if I don't read a book on investing I must be an idiot, or trying to tell me what constitutes residency in Canada, etc. then maybe we can move on to advice of use to me. Advice on being retired and what might matter to me.
I'm looking for advice from people who are retired and don't need to work, on how to enjoy retired life. What to watch out for like turning into a drunk with too much time on my hands or how to spot a gold digger from a mile away etc. I wanna hear what people do with their time. I've got no interest in golf but I might look for a 40-45 year old lady who is outdoorsy or a Pilates instructor who has kept herself in shape. Any suggestions on how to find one? That I could use. Don't say join a health club, that ain't gonna happen.
If someone like mh lives near Salton City then I'd like to hear what lesser known attractions there are may be around or a good restaurant where you can get a good $5 breakfast. Or maybe the name of a good dentist over the border in Mexico in case I get a toothache. That would be useful advise.
Mh, I don't care if property falls to zero. I'm not buying to make a profit. If I do fine, if I don't fine. Where do you go and spend time between there and where you live? Doing what?
Hope I've made it clearer now.
But about the lifestyle stuff - stick around here, make yourself at home, and read all you want. I spent months here reading before I even made my first post. That way, I had a good idea what these forums were all about.
I'd tell you to go to Niland and meet Leonard Knight, but he passed away not so long ago. His interesting piece of folk art is still out there in the desert, being looked after by his many admirers though - might be worth a visit.
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REWahoo
Give me a museum and I'll fill it. (Picasso) Give
I think they sense the presence of a troll and gather for the kill, much like a school of sharks who smell blood in the water.
Lucantes
Recycles dryer sheets
Now that really did make me LOL!Lwinner, you sound like quite the sojourner.
papadad111
Thinks s/he gets paid by the post
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- Oct 4, 2007
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- 1,135
I disagree entirely. His post actually makes total sense.
A few mods and others get snarky and snippy and get their heart rate up when someone comes in not talking about money or looking for money advice and instead talking about living life. Suspect some on here are FIRED but aren't really feeling the rain.
...Let this thread roll. Sojourner or not. He's out there doing it. Not sitting on a computer at 5 am being a desktop quarterback !!
Lwinner- what did you do before lottery day? What are your passions aside desert living - artist ? Hobbies? Have you considered world travel as a way to meet like minded people ?
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Lwinner: congratulations! It sounds like a great life. I'm going to suggest that you look into two things very carefully so that you don't get nasty surprises later on that could throw your plan off.
1. Check the medicare rules in your province. Most have residency rules that are separate from tax residence. For example, in Ontario, you can be out of the province for up to seven months a year and still qualify for OHIP. If you spend more that seven months out, you have to be back for three months before residence is reestablished. Even if you are paying taxes in Ontario!
2. You're not right in saying you can make up to $44,700 in dividend and interest income without paying tax. That may be true for eligible Canadian dividends, because of the tax credit, but it is not the case for interest, which is taxed the same as employment income - starting at around $11,000. Also check to make sure that your source for the $44,700 number isn't assuming that you are 65 and eligible for age and pension credits. Also, the rules vary be province.
Good luck in your new life.
1. Check the medicare rules in your province. Most have residency rules that are separate from tax residence. For example, in Ontario, you can be out of the province for up to seven months a year and still qualify for OHIP. If you spend more that seven months out, you have to be back for three months before residence is reestablished. Even if you are paying taxes in Ontario!
2. You're not right in saying you can make up to $44,700 in dividend and interest income without paying tax. That may be true for eligible Canadian dividends, because of the tax credit, but it is not the case for interest, which is taxed the same as employment income - starting at around $11,000. Also check to make sure that your source for the $44,700 number isn't assuming that you are 65 and eligible for age and pension credits. Also, the rules vary be province.
Good luck in your new life.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
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Although Lwinner doesn't want financial advice, and is being pretty rude about it, I am going to provide information anyway because i think he has not done his research sufficiently and is at risk.
TaxTips.ca - Tax Comparison Investment Income 2014 - Dividends vs Interest
These tax tables show that a non-senior can earn up to around $30,000 in eligible Canadian dividends and not pay tax in most provinces. This is gives you $41,000 in taxable income because of the way dividends are counted in taxable income. But it is based on $30,000 of dividends in your pocket - not $41,000 of dividends.
And let's be clear: you earn dividends by buying shares in companies. You do not earn dividends by buying bonds GICs (CDs in the US) at your bank, credit union or caisse populaire.
Secure investments like these pay interest. The tax tables show that the start point for tax on interest income is below $15,000 in every province.
TaxTips.ca - Tax Comparison Investment Income 2014 - Dividends vs Interest
These tax tables show that a non-senior can earn up to around $30,000 in eligible Canadian dividends and not pay tax in most provinces. This is gives you $41,000 in taxable income because of the way dividends are counted in taxable income. But it is based on $30,000 of dividends in your pocket - not $41,000 of dividends.
And let's be clear: you earn dividends by buying shares in companies. You do not earn dividends by buying bonds GICs (CDs in the US) at your bank, credit union or caisse populaire.
Secure investments like these pay interest. The tax tables show that the start point for tax on interest income is below $15,000 in every province.
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Moderator note
The original post was from a former member who was banned from the forum for continued violations of community rules, returned with a new accouunt and was banned again for trolling (multiple times). Once his identity was confirmed he was banned again.
There are some helpful member comments, so the thread will be closed to new posts but available for all to read.
The original post was from a former member who was banned from the forum for continued violations of community rules, returned with a new accouunt and was banned again for trolling (multiple times). Once his identity was confirmed he was banned again.
There are some helpful member comments, so the thread will be closed to new posts but available for all to read.
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