Recent content by er dr

Will check it out!

Hi Westlake! I'm certainly no expert but I wanted to post some thoughts. First of all.. I am very impressed that you were able to accumulate 10 rental properties and pay off the mortgage on 8 of them as well as pay off your home making a modest 50K/yr! What that tells me is that you are very...

Unfortunately I really do not have any other assets (besides business and real estate ... see below) to sell. :( I've thought about selling all my real estate in 2 years when I sell my business but the two issues I have with that is it may not be a good time for selling real estate and so I...

Very good point and you're absolutely right! My thought was keeping a year or two cash reserves in a short term CD or something similar just for those occasions when the timing isn't right for selling a home or maybe if we go through another dip in the market and I may not want to touch the...

???Well.... actually what I had no clue on was what rate of return I should use for my investment. basically a 3% ROR over 20 yeras is vastly different than 10% ROR. I was hoping to get some ideas as to how to figure out where I stand and I've learned a lot by going through other threads as...

I love that!

I guess I'm a little greedy. I want a certain lifestyle but I want to reach it very soon. I'm estimating $10K/mo which includes cost for a home in Canada (approx $2200-2500 total monthly cost including mortgage, utilities, taxes, ins etc), a small home in West Florida (approx $1000/mo for...

Hi Cocoa2012! Being able to spend unlimited time with a child is probably the best legacy you could leave. I too am so driven to make this happen. I have a 10 y/o son and I so want to spend evenings, weekends and summers doing all the things I was never able to do growing up because both my...

nice to see more Canadians on this board! Welcome!

I looked over this site a bit this morning. Thanks for passing it along. Will have to spend more time reviewing this site but it looks to have great information.

Ok... so the way I wrote it makes it sound like I'm guessing but I meant it more like it is hard to know exactly how my spending habits will change when retiring. I actually do track everything. Since august 1997, I have tracked every penny coming in and out of my life. I'm actually kinda...

hmmmmm.... very good point. I shall look into this myself. Thanks.

Ok.. so this is my plan....first some background. I have 10 rental properties with varying amounts of equity in each and with minimal cash flow loss each month. I've bought approx 1 property/year for past 10 years. Total equity in all 10 properties is about $600,000 currently. I'm done buying...

Thanks Webzter and youbet for your thoughts. This is exactly the sort of stuff I was hoping for and now I only wish I had seen this forum years ago. Never too early to think about retirement!!! Anyways... I plugged in my numbers into FIRECalc and looked at the ORC that Webzter mentioned. the...

Actually 3 years ago after my 401K tanked about 40% I pretty much gave up on the idea of retiring at age 45. I assumed I would have to work at least 2-5 more years which, though not something I relished, I guess was still not the end of the world. I could still retire before 50. However...