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Old 09-08-2020, 03:28 PM   #21
Confused about dryer sheets
Join Date: Feb 2020
Location: Portland
Posts: 5
Originally Posted by RetireBy90 View Post
Do you expect any change in monthly expenses from current to VA Beach ? I would think VA Beach might be a bit more expensive.

Not knowing what your current occupation is, do you expect to be able to work some in retirement or is that out of the question ? That could provide a buffer if needed.

Does your partner plan to retire at the same time or is already retired ?
Are there any income sources or retirement savings from partner ?

I would look at total income VS expenses and build in a buffer amount. If I understand, your disability is part of the $1800 ? You show $3,600 monthly income and various retirement savings of about $850K ($250 TSP, $70 current home, and $500K Orchard - just a SWAG). So your income with minor $1K monthly draw shows about 1% withdraw rate. You could figure the $2,450/month from orchard sale as income for the duration until it is paid off. I made a complex spreadsheet but in the end I pretty much just did as you, income and expenses with changes over time. Of course once we get some inflation your $3,000 expenses will increase but since you have double that in income or more you should be ok. Just remember that.

I would think that your finances are great for retirement. With your addition of even just one SS check of more than $2K/month you should have sufficient income to pay expenses and taxes. Good luck and enjoy retirement.

Yes, I do expect my monthly expenses to change when we return to Virginia Beach. I currently live near Seattle and we bought a $500,000 home which we are putting on the market in two days. We own a home in Virginia Beach that we have been renting out to a coworker which we fully remodeled before we transferred out here.
Our monthly expenses are over $4k here and will be roughly $3k in Virginia Beach.
The wife and I are talking about running a small business out of our home but we do not need to.
My wife is retired, her income stream is from our avocado orchard in southern Cali.
$2450 per month is from a piece of land that we are selling to a developer with us carrying the contract.
The Avocado orchard is worth @ $1M and we do not plan on selling that, we will continue to split the profits with the Grove management company, at least for 3 to 5 more years at which time we are looking into developing the property by creating 5 acre home tracts with their own mini groves.
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