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Re: Introduce yourself here!
Old 02-23-2005, 02:11 PM   #281
 
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Re: Introduce yourself here!

Hello playaman! We did not research 55+ communities
because we did not think they would work for us.
However, I understand the appeal. In fact, a friend
retired and moved to "The Villages" in Florida and he
claims they love it. My wife and I are more tuned
to being off by ourselves and speaking for myself, I tend
to be a bit of a loner and self-entertaining. OTOH,
some day we might look into it (55+ spots).

JG
 
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Re: Introduce yourself here!
Old 02-24-2005, 06:27 PM   #282
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Re: Introduce yourself here!

Hello everyone...just found this site. Think it is wonderful. I am 50 yrs old, raising a 3 yr old granddaughter. Working...but very concerned about getting ready for Retirment. Have just over $30K saved and worried a bout how we will get there? Any suggestions.
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Re: Introduce yourself here!
Old 02-25-2005, 07:26 AM   #283
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Re: Introduce yourself here!

There are a lot of folks who can help with your question but they will need a lot more details. Do you expect a pension? How much from Social Security? How about real estate? One big issue for some folks is medical costs. You may have enough assets around elswhere but if it is only $30K in total resources you are about $1M short by conventional measurements.
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Re: Introduce yourself here!
Old 03-03-2005, 05:34 AM   #284
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Re: Introduce yourself here!


Hello All,

I'm 57 1/2 and in my first week of early retirement. I must say I'm absolutely enjoying my ER. I'm still decompressing from my final job in which I was on call for 24/7, 365. Now I can sleep through the night without worrying about a phone call from work. I'm also struck by how many work related issues I took home with me without even realizing it. And how much these work related issues interfered with my home life. Those issues are gone and I no longer have to think about them.

I've joined a gym. I plan on working out, taking care of my health, taking charge of my life, enjoying my family, and enjoying my time.

This is a great forum and I've gotten a lot of excellent information from it.

Twincity

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Re: Introduce yourself here!
Old 03-03-2005, 12:11 PM   #285
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Re: Introduce yourself here!

I have enjoyed reading the posts to this forum for some time and have learned a great deal. I feel that the discussions are always worthwhile and have gone a long way toward assisting me in making the decision to retire.

I am 58, single and will receive a $27K pension (COLA). I have a 401(k) from a previous employer of $267K that I have not yet rolled-over to an IRA. My present 401(k) has only $5K, but I have an IRA with $41K and a Roth IRA that has about $18K. I also have approximately $85K in cash and $50K in taxable investments. My allocation is 50/50, not counting the cash.

The equity in my home is around $300K and I plan to relocate (although I haven't actually determined where I would like to go at this point). I drive a ten year-old pickup truck and spend only moderately.

FIRECALC indicated that I might be able to count on a yearly gross income of over $60K, which seems like more than enough to survive or even prosper, based on what I have read here.

I would like to know if this is a valid assumption. Also, is a period of part-time work prior to selling my home and relocating worth considering at this point? I should point out that I enjoy my job (but not the commute). However, I would also like to take advantage of my remaining years of good health and possibly spend some time on pursuits other than work: travel, hobbies, visiting friends and family, etc.

Your responses and advice would be most welcome.

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Old 03-03-2005, 12:31 PM   #286
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Re: Introduce yourself here!

Chester, the cola pension has a lot of value so long so long as the source of the pension is healthy. I assume you are eligible for social security when you reach age 62--do you have an idea what that amount is? I assume the home is mortgage free? Do you also have retirement health insurance? If so, you look in good shape to me.

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Re: Introduce yourself here!
Old 03-03-2005, 12:41 PM   #287
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Re: Introduce yourself here!

Thanks, Martha. My home has an $180k mortgage, but the homes around me appear to be selling within a week or two, so I am not really concerned. My last social security statement noted a $1340 monthly benefit at age 62 (I suppose this is IF I continue to work ‘til 62?). And, yes, my health insurance will continue at my group rate until I am eligible for Medicare, although I must pay the monthly charges, once retired.
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Re: Introduce yourself here!
Old 03-05-2005, 04:35 AM   #288
 
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Re: Introduce yourself here!

Hello Chester! If I was single with what you have, I
could hang it up and live the Life of Riley Good luck!

JG
 
Re: Introduce yourself here!
Old 03-05-2005, 12:04 PM   #289
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Re: Introduce yourself here!

Thanks, JG. I am impressed that you noticed the William Bendix link. 8)

I have a great deal of respect for the critical manner in which members of this forum approach most questions. The real life experience of the folks that post here is very valuable. It is quite revealing that the net worth required for FI has proven to be so much less than I was led to believe by the alleged financial experts in the MSM.

So, since there have been no negative comments, I suppose that I am in pretty fair shape financially. And I have no reason to claim "Wotta revoltin development this is!"
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Re: Introduce yourself here!
Old 03-13-2005, 02:48 PM   #290
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Re: Introduce yourself here!

Hi Rile,

Sounds like the sale of your home and where and how much you spend for the next Casa de Riley is an important ingredient in your financial future. If you can sell high and buy low in an area that suits you... you'll be home free!

BUM
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Re: Introduce yourself here!
Old 03-14-2005, 07:43 AM   #291
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Re: Introduce yourself here!

I suppose that's the way I should be thinking at this point, Bum. Having a home that is mortgage-free is certainly an essential ingredient. I have been considering a move to Tennessee; I have lived in Florida, which seems to be the usual retirement destination, in the past and found the extended hot weather a bit too much for me.

Am I correct in assuming that I am otherwize within a comfortable margin for covering normal living expences?

I am rather frugal (cheap) and rarely spend on expensive items without an extremely detailed examination.
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Re: Introduce yourself here!
Old 03-14-2005, 09:24 AM   #292
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Re: Introduce yourself here!

Quote:
Am I correct in assuming that I am otherwize within a comfortable margin for covering normal living expences?
I am rather frugal (cheap) and rarely spend on expensive items without an extremely detailed examination.
Someone with your resources who is comfortable being cheap should be absolutely OK.

As I see it, your immediate income will be $27,000 pa. In 4 years, that will increase with SS by $16,080 to $43,080. You have $300,000 home equity that you hope to pull out soon, and $461,000 in various taxable and retirement investment assets. You have adequate liquidity for your short term needs, and to bridge until your home is sold or your SS kicks in. If you capitalize your assets with an SWR of 3-4%, you get somehere around $22,000 to $29,000 additional. So you would have at least $65,000 to pay rent or mortgage, health insurance and your other expenses.

If you feel that you have some specific area of vulnerability that we haven't noticed, just point it out.

But knowing only the above, it looks good to me!

Mikey
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Re: Introduce yourself here!
Old 03-14-2005, 09:40 AM   #293
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Re: Introduce yourself here!

Thank you, mikey. There are no areas of vulnerability that I am aware of at this point.

A quick analysis by a person with no stake in my situation, and has some experience with retirement, is exactly what I needed.

The real world information available on this board is very valuable and is most appreciated.
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Re: Introduce yourself here!
Old 03-23-2005, 10:37 PM   #294
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Re: Introduce yourself here!

Greetings 8). Chanced upon site - seems to be genuinely nice (and clever) folks here. I'm Irish, but work and live in both Europe & US. Work is Derivatives Trading/IT. Hobbies: Music (2CD's), Film (half a dozen scripts), Cycling, Travel. If anyone has any thoughts or has tried the stuff below please let me know.


Q1. Good time to convert Euro assets to US$ or not?
(Long-term outlook for US and the dollar?)

Q2. Tax haven work, anyone ever ventured?

Q3. ER income from Real-Estate or Equities?
(The numbers appear close 3.5% rental yields vs ~4% Fund SWR, but which is safer/better re: Q4.)

Q4. Lifesavings secure in Funds after Worldcon/Enrot/Equitable Life?

Q5. House price correction risk as rates go up?

Q6. ER to Canada or US?

Q7. Prop arbitrage i.e. buy a home now in CA (>20% apprec), and sell home in IL (<8% apprec)?

Q8. Locking in FX rates. Read the posts but this still seems a tricky area . . .

Q9. Anyone Trade / mgt their own portfolios / Assets?
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1.Convert Euro assets to US$ now or not?<br />2.Tax haven work, anyone ventured?<br />3.ER income from Real-Estate or Equities?<br />4.ER to Canada or US?<br />5.Lifesavings secure in Funds after Worldcon/Enrot/Equitable Life?<br />6.House price correction risk as rates go up?<br />7.Prop arbitrage i.e. CA &gt; 20% IL&lt;8%?
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Re: Introduce yourself here!
Old 03-27-2005, 04:49 PM   #295
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Re: Introduce yourself here!

Hi folks,

Another potential refugee from NFB here, like Bookm.
I have lurked here occasionally, seems like a nice group
of people. I'm an American living in Japan, not particularly
looking to RE (I like my job), but certainly interested in FI,
because you just never know what the future will bring.
Having lived in the US in the 70s/80s, with one year in the
UK in there, and Japan in the 90s/00s, I have seen a lot
of economic malaise in my life, and I don't think that I would
trust any good times to last, should I ever find myself in the
right time and place to experience them. My basic strategy
is to emphasize saving, diversification, and low costs.

But enough about me for now. See you around,
Bpp

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Re: Introduce yourself here!
Old 03-27-2005, 08:20 PM   #296
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Re: Introduce yourself here!

Hi Bpp!

It's good to see you here!

Beachbumz 8)
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Re: Introduce yourself here!
Old 03-28-2005, 12:02 AM   #297
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Re: Introduce yourself here!

Thanks, Beachbumz!

Bpp
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Re: Introduce yourself here!
Old 03-28-2005, 01:09 AM   #298
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Re: Introduce yourself here!

Greetings bpp, short time no see. Nice to see you here. I'm happy to know you'll be here to talk with as well.

Bookm
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Re: Introduce yourself here!
Old 03-28-2005, 06:13 AM   #299
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Re: Introduce yourself here!

Hi Bookm!

It's good to see you over here too!

Beachbumz 8)
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Re: Introduce yourself here!
Old 03-28-2005, 06:19 AM   #300
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Re: Introduce yourself here!

Quote:
Hi Bookm!

It's good to see you over here too!

Beachbumz *8)
Likewise Beachbumz. I didn't know you were so active here. All the boards combined you posted at in the recent past, you have been quite busy.

I don't know if you read my question I posted at NFB the last day there or not, but I didn't get to find out if you did. It was about a place in Port Canaveral called Grills tiki bar?

Bookm
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