ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hi All:
Not been on for a while but used to be a regular poster. Been too busy working yes, I was called back to the same company that I retired from in the first place and gave in. Probably not to my better judgement, but it is done.
Some History (some of you may know this already):
My DW and I retired in 2003 at the age of 45/49 Resp. We are both US an Canadian Citizens. We had a great time and went sailing for 3 years in the Eastern Caribbean in winter and spent summer in Canada. We posted our antics on our website.
What we did was sell all in SoCAL where we had lived for over 15 years when RE prices were pretty good, set up residency in an Income Tax Free State for Tax purposes in the US (Florida). Not that we had a Huge nestegg to worry about, ut it was substantial for us, although every bit helps. We went to Canada to visit relatives for 3 months. Well low an behold after being there for 3 months we were entitled to Healthcare. so we had all our checkups and with a clean bill of health and a very reasonable travel inurance policy for 6 months healthcare, off we went sailing. So effectively we resided in the US for 6 months and Canada for 6 months. we did this for about 3 years, summers were spent in Canada. Our income was low from Fixed income investments as we pulled everything out of the stock market and invested in 10 year CDs at between 6 and 10%. We rolled the income into the principles. 50% was Tax deferred so we did not need to worry about that. The rest we paid taxes on as needed but not much at all. We lived on a cash account.
OK, so we came back and went back to the rellies in Canada. Now boatless and homeless we decided to go back to where we officially lived in the USA and check it out a bit. So off we went to Florida. We rented a place on the water for 3 months and spent most of the time looking for housing, healthcare was again on Travel insurance from Canada. Well you can only do this for so long. Home prices were ridiculous in 2006/2007 so we rented for about 3 years before we purchased a home with cash so we had no mortgage. during this time DW went to work in the US so we could get affordable US healthcare. Good job too as I had to have a pacemaker fitted only 6 months after we got back.
Once my old company got wind I was back i was offered a part time job working from home, this turned into full time as it was fun then and we were both a little bored with Florida retired life. Work was not hard and we had lots of free time, it worked for us. I covered south America, Asia and europe so I got to travel about a bit to break the monotony, which was not really that bad at all.
OK fast forward to 2012, my company (The one I was working quite happily for) was purchased by a competitive company, one that I did not respect at all, as they had a reputation of having business practices that I personally did not subscribe to. My DW is very happy working where she is and says she would be volunteering if she did not work there.
Me, I am at the point where I am fed up of them and bored as my job as changed dramatically. However, I am very concerned about the state of the economy in the US, low fixed income rates and the healthcare situation.
I am definately a fixed income invester and cannot risk a penny at my age. If I divided up our nestegg (assuming No Interest) it would last me and my wife 34 years at our current quality of life burn rate. Including all the things we like to do. ASSUMIING we do not get seriously ill. We are considering going back to Canada when my DW decides to call it a day,(Vancouver Island, or the Niagara Peninsula) but are spoilt by the US weather. And Home prices are an issue, for what we have now would require double the current investment. We are not ready to down size yet.
Current financial Status:
60% Post Tax Cash Vehicles, 40% Pre-Tax IRA/401k Vehicles. Could stay below tax radar by withdrawing minimal from Pre-Tax. No pensions other than SS not due yet but will take at 62. No kids to worry about, do not want to leave anyone anything (If we can help it).
I would be as happy as a sand boy if interest rates on fixed income were ~4-5%+ as now all our high interest investments have expired and are in MM waiting for indecisive me to figure things out.
Soul searching for some advice and support.
Thanks for reading so far....
SWR
Not been on for a while but used to be a regular poster. Been too busy working yes, I was called back to the same company that I retired from in the first place and gave in. Probably not to my better judgement, but it is done.
Some History (some of you may know this already):
My DW and I retired in 2003 at the age of 45/49 Resp. We are both US an Canadian Citizens. We had a great time and went sailing for 3 years in the Eastern Caribbean in winter and spent summer in Canada. We posted our antics on our website.
What we did was sell all in SoCAL where we had lived for over 15 years when RE prices were pretty good, set up residency in an Income Tax Free State for Tax purposes in the US (Florida). Not that we had a Huge nestegg to worry about, ut it was substantial for us, although every bit helps. We went to Canada to visit relatives for 3 months. Well low an behold after being there for 3 months we were entitled to Healthcare. so we had all our checkups and with a clean bill of health and a very reasonable travel inurance policy for 6 months healthcare, off we went sailing. So effectively we resided in the US for 6 months and Canada for 6 months. we did this for about 3 years, summers were spent in Canada. Our income was low from Fixed income investments as we pulled everything out of the stock market and invested in 10 year CDs at between 6 and 10%. We rolled the income into the principles. 50% was Tax deferred so we did not need to worry about that. The rest we paid taxes on as needed but not much at all. We lived on a cash account.
OK, so we came back and went back to the rellies in Canada. Now boatless and homeless we decided to go back to where we officially lived in the USA and check it out a bit. So off we went to Florida. We rented a place on the water for 3 months and spent most of the time looking for housing, healthcare was again on Travel insurance from Canada. Well you can only do this for so long. Home prices were ridiculous in 2006/2007 so we rented for about 3 years before we purchased a home with cash so we had no mortgage. during this time DW went to work in the US so we could get affordable US healthcare. Good job too as I had to have a pacemaker fitted only 6 months after we got back.
Once my old company got wind I was back i was offered a part time job working from home, this turned into full time as it was fun then and we were both a little bored with Florida retired life. Work was not hard and we had lots of free time, it worked for us. I covered south America, Asia and europe so I got to travel about a bit to break the monotony, which was not really that bad at all.
OK fast forward to 2012, my company (The one I was working quite happily for) was purchased by a competitive company, one that I did not respect at all, as they had a reputation of having business practices that I personally did not subscribe to. My DW is very happy working where she is and says she would be volunteering if she did not work there.
Me, I am at the point where I am fed up of them and bored as my job as changed dramatically. However, I am very concerned about the state of the economy in the US, low fixed income rates and the healthcare situation.
I am definately a fixed income invester and cannot risk a penny at my age. If I divided up our nestegg (assuming No Interest) it would last me and my wife 34 years at our current quality of life burn rate. Including all the things we like to do. ASSUMIING we do not get seriously ill. We are considering going back to Canada when my DW decides to call it a day,(Vancouver Island, or the Niagara Peninsula) but are spoilt by the US weather. And Home prices are an issue, for what we have now would require double the current investment. We are not ready to down size yet.
Current financial Status:
60% Post Tax Cash Vehicles, 40% Pre-Tax IRA/401k Vehicles. Could stay below tax radar by withdrawing minimal from Pre-Tax. No pensions other than SS not due yet but will take at 62. No kids to worry about, do not want to leave anyone anything (If we can help it).
I would be as happy as a sand boy if interest rates on fixed income were ~4-5%+ as now all our high interest investments have expired and are in MM waiting for indecisive me to figure things out.
Soul searching for some advice and support.
Thanks for reading so far....
SWR
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