Retirement Planning - Lessons Learned

[Oaktree]

These "shows" are happening in at least one nearby small city. I have not seen video but I am sure it exists. The "news" is only reporting on it because people are complaining but it sounds like the "shows" happen most weekend. I wonder if it is happening in other cities but it is just not be talked about.

I had to Google "sideshow" to find out what it was, never heard the word used in that context before. The Wikipedia article I read made it seem like it's a California thing, but you imply it happens elsewhere. Glad here isn't one of them.

 

[JethroB]

As far as investments, and before I found the bogglehead site I was leaving my investments to be managed by a company. They really did nothing, and took a percentage of what I was making.
Now my investments are easy, go to vanguard or fidelity Get 3 funds. Total stock market, total international, total bond.

Another method is the retirement target date/age based funds offered by Vanguard, Fidelity and others. They basically are a mix of the funds like Forgeblast mentions above. It's a hands off method that invests more conservatively as you age and requires no periodic rebalancing on your part. If you want to be more aggressive (more stocks) choose a fund farther out.

 

[MossRoad]

OK, part 2 kind of makes sense, especially nice if you live in an area with a lot of vacation homes. Never heard of a city/town giving a mortgage discount on property taxes though. The only homestead exemption we have here protects your primary residence from creditors in the case of bankruptcy (up to a certain $ limit), nothing that reduces taxes though.

Just to be clear, you can only use them on your primary residence. No 2nd home or vacation homes will qualify.

 

[bob11x]

Congrats on the retirement and the grandchild!

This Friday January 29th, 2021 I will officially retire :thumbsup:

I am looking forward to Friday and starting my retirement journey and rejoining TBN We should also be able to travel and see the sites of the great USA!

 

[ultrarunner]

My experience with Illinois is I lived in Peoria as a kid (5-10 years old).

I was a huge Cardinals fan surrounded by a whole bunch of Cub fans.

It was a great time for the Cardinals (1960痴 - 3 trips to the World Series). The Cubs were, well, they were the Cubs. Never won. Never really competed. Despite it all, I had to keep hearing 努ait till next year? Over and over and over.

So, Illinois will always be tainted in my opinion.

MoKelly

Growing up some of the family's best friends were all from Peoria... They worked for Caterpillar and had the opportunity to transfer to the Caterpillar plant in the SF Bay Area and the other two family's from Kokomo Indiana...

Having come to CA and embracing and making a career with roots including kids and grandkids not a soul left...

All those people retired to Florida and Oregon...

I have nothing scientific but as for retirement planning all happy where they landed and 35-40 years in California just a stop along the way...

 

[ultrarunner]

I had to Google "sideshow" to find out what it was, never heard the word used in that context before. The Wikipedia article I read made it seem like it's a California thing, but you imply it happens elsewhere. Glad here isn't one of them.

What starts in CA seldom stays here... sideshows are anything goes and law enforcement woefully out manned/gunned...

One thing in planning is several states... California and New York talk of an exit tax for those leaving...

CA did go after those receiving State pensions that left and it got ugly... guess it could happen again?

 

[MoKelly]

Growing up some of the family's best friends were all from Peoria... They worked for Caterpillar and had the opportunity to transfer to the Caterpillar plant in the SF Bay Area and the other two family's from Kokomo Indiana...

Having come to CA and embracing and making a career with roots including kids and grandkids not a soul left...

All those people retired to Florida and Oregon...

I have nothing scientific but as for retirement planning all happy where they landed and 35-40 years in California just a stop along the way...

Seemed like half the people in Peoria worked at CAT. My father did not - he worked at GE as a salesman for medical equipment. He then got transferred to St. Louis.

MoKelly

 

[dmccarty]

Hello TBNers, I have been away for several years, checking in occasionally to see whats going on.(See the Pallets in the Field thread is still going on:laughing Life has been real busy the last few years and no time to post. I thought once I retire I could get back involved with TBN and I check in today and see this thread!

...

I am looking forward to Friday and starting my retirement journey and rejoining TBN We should also be able to travel and see the sites of the great USA!

Welcome back and congrats on retiring. It is UNREAL that that conversation about Pallets is still going on! :shocked::laughing:

Later,
Dan

 

[dmccarty]

I had to Google "sideshow" to find out what it was, never heard the word used in that context before. The Wikipedia article I read made it seem like it's a California thing, but you imply it happens elsewhere. Glad here isn't one of them.

Yep, it is happening in at least one NC city, and thankfully, not the violence, and the numbers involved seem lower than in CA, but enough cars are showing up to race, do donuts, play load music, endanger the public, etc., that it is an issue.

Later,
Dan

 

[Jstpssng]

We got that here BIG TIME. Just move in, join the school board or town council and start yappin.

I think that's true of any rural area. Then people don't understand when they don't fit in.

 

[riptides]

I take the opposite view....here some people are stuck in the 1800s. And not in a good way.

I think that's true of any rural area. Then people don't understand when they don't fit in.

 

[Jstpssng]

I take the opposite view....here some people are stuck in the 1800s. And not in a good way.

It's a little bit of both, actually. We're seeing a lot of it now, real estate sales in the last 10 months have really taken off as people try to get away from Covid and all of the crazy crap going on in the big cities. Yet they are bringing many of the problems with them which they are trying to get away from... and while Covid was once something which happened to other people in populated areas, it's becoming more and more widespread even in the smaller towns.

 

[polarred21]

I am looking forward to Friday and starting my retirement journey and rejoining TBN We should also be able to travel and see the sites of the great USA!

Congrats on your retirement and good luck!

Coworker announced his retirement today, 64 years old and almost 40 years of service. Bittersweet but I'm very happy for him.

 

[ericm979]

We're seeing increased sales of local mountain properties both here and other rural mountain parts of CA. People who now work from home realized they don't need to live in town so they can have a bearable commute to the office. When Covid's over I don't see those workers going back to the office nearly as often as before Covid, if ever. I don't see it as escaping Covid so much as discovering that it's possible to realize their dream of living in a rural area while they're still employed rather than waiting for retirement.

 

[Jstpssng]

We're seeing increased sales of local mountain properties both here and other rural mountain parts of CA. People who now work from home realized they don't need to live in town so they can have a bearable commute to the office. When Covid's over I don't see those workers going back to the office nearly as often as before Covid, if ever. I don't see it as escaping Covid so much as discovering that it's possible to realize their dream of living in a rural area while they're still employed rather than waiting for retirement.

Yet what happens as they turn that "Rural Area" into a suburb?

 

[ultrarunner]

Hopefully rural does not end up being a compound but sounds like some members are well fortified already.

I wonder how many planning retirement plan to retire in place without moving?

 

[Jstpssng]

Hopefully rural does not end up being a compound but sounds like some members are well fortified already.

I wonder how many planning retirement plan to retire in place without moving?

That'd be me, at least until I cant get around as well. My road has two hills which can be a challenge in winter.
The wild card is if the property next to me gets sold without me getting a chance to buy it.

 

[ericm979]

Yet what happens as they turn that "Rural Area" into a suburb?

It's inevitable that more people will show up to every place that doesn't totally suck. If only we could convince people to stop reproducing...

I wonder how many planning retirement plan to retire in place without moving?

Me! I didn't want to wait for retirement to move to the mountains, I did it a long time ago.

 

[kenmac]

That will cover a modest 3 BR home and about 75 acres of rural Ag land here.

I pay about that ($1200.00) per yr with 3500 sq home, and one 40x80 barn and 1- 40x40 barn with 40 acres

 

[newbury]

Hopefully rural does not end up being a compound but sounds like some members are well fortified already.

I wonder how many planning retirement plan to retire in place without moving?

A lot of us grew up, got educated, looked around and there were no jobs paying worth a darn for our education level. It was move to where the jobs were.
So I moved, did my 40, retired, and have now spent 10 years trying to move.
But the darn real estate market is such that the value of my real estate is going up way faster than my costs.

Now many of the educated are finding they can work remotely for most of the day and still be productive and pull down a good paycheck and more important MANAGEMENT is figuring out how to value output without leaning over the workers shoulder.
About 40 years ago at the small Army research lab I worked at they started "flex time" and occasional "remote work". Virtually none of the managers could deal with it.
Now my son, who works at the same lab in a semi-management position goes in for a couple of hours a day at the most, the rest is work from wherever.
Others who have had an hour commute work from home 3 days a week or less.

As this gets more widespread I expect the rural areas will become denser as jobs that don't require a physical presence let people just get the work done.

Writing a research paper or a computer program can often be done remotely. Of course if you fix steam leaks you have to be on site.