Retirement Planning - Lessons Learned
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MoKelly
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MossRoad
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Or too far.
goeduck
Super Member
When I was in high school I worked summers for a guy that built houses. I asked him why they were all single level and had big bathrooms, hallways and big doors. He said that he built for retired people and that they were a different customer than a young family.
That stuck with me.
That stuck with me.
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Actually the personal finance side of things in CA has exceeded expectation...
The original plan to buy a fixer at 22, move in and fix and repeat every 18-24 months worked like clockwork... keeping for rental income also OK but it's a job with ever increasing mandated responsibilities and less control... full of landmines laying in wait... no resemblance to when I started when there was no rent control, no Just Cause Eviction, No Vacant Parcel Tax, No Code Inspecting, No Business License and Rent Board requirements...
What has not gone to plan is family obligations to step up with Grandparents and Parents health issues and now compounded with pandemic...
In theory I should be footloose and fancy free but that changed at age 12 when Grandfather passed and drafted into family auto business...
Not a complaint but more of a different path... not many 12 year olds paying into Social Security then or now...
Working/Obligations kept me on a short leash and there really wasn't the opportunity to get in trouble...
On the other hand being 16 and the weekend manager of a auto parts store with zero family connection provided many opportunities at a young age...
Every job I have ever had was either self employed or being asked to work for the company...
In hindsight I would have stayed self employed concentrating on building a Real Estate portfolio...
The original plan to buy a fixer at 22, move in and fix and repeat every 18-24 months worked like clockwork... keeping for rental income also OK but it's a job with ever increasing mandated responsibilities and less control... full of landmines laying in wait... no resemblance to when I started when there was no rent control, no Just Cause Eviction, No Vacant Parcel Tax, No Code Inspecting, No Business License and Rent Board requirements...
What has not gone to plan is family obligations to step up with Grandparents and Parents health issues and now compounded with pandemic...
In theory I should be footloose and fancy free but that changed at age 12 when Grandfather passed and drafted into family auto business...
Not a complaint but more of a different path... not many 12 year olds paying into Social Security then or now...
Working/Obligations kept me on a short leash and there really wasn't the opportunity to get in trouble...
On the other hand being 16 and the weekend manager of a auto parts store with zero family connection provided many opportunities at a young age...
Every job I have ever had was either self employed or being asked to work for the company...
In hindsight I would have stayed self employed concentrating on building a Real Estate portfolio...
Last edited:
goeduck
Super Member
^^^ you are a good man for stepping up. Thinking man as well. 
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- Cat D3, Deere 110 TLB, Kubota BX23 and L3800 and RTV900 with restored 1948 Deere M, 1949 Farmall Cub, 1953 Ford Jubliee and 1957 Ford 740 Row Crop, Craftsman Mower, Deere 350C Dozer 50 assorted vehicles from 1905 to 2006
Learned much from TBN and my many older friends...
I was the "Kid" as a teen an 40 years later still the "Kid"...
I was the "Kid" as a teen an 40 years later still the "Kid"...
Larry Caldwell
Elite Member
Mine is a ranch style too. One step to the front door, but I could build a dead level ramp from the driveway if I had to. I only hope they get those self-driving cars perfected before I'm so old they take my driver's license away.
We get a bunch of California equity kings moving into the area. They will pick a view site, with a driveway so steep you can't walk on it if there's a frost, and build a 3000 sf two story mansion with a dining room window staring at a cut dirt bank. So much for retiring in luxury. They'll be there maybe 10 years and then be forced to move into assisted living.
- Joined
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- Cat D3, Deere 110 TLB, Kubota BX23 and L3800 and RTV900 with restored 1948 Deere M, 1949 Farmall Cub, 1953 Ford Jubliee and 1957 Ford 740 Row Crop, Craftsman Mower, Deere 350C Dozer 50 assorted vehicles from 1905 to 2006
Yep... what goes up comes down but so far comes back stronger...
I can show a 1920's Oakland Bungalow that sold for 80k in 1988 and 510k in 2007 and 100k in 2009 and 725k in 2019...
Plenty cashing out right now... with few remaining in state... I have friends in so many States it would make a great motorhome trip...
Most recent headed to Larry's Oregon... bought a large custom view home on double lot for 500k in 2012... closed last week for 1.8m...
Defies explanation...
I can show a 1920's Oakland Bungalow that sold for 80k in 1988 and 510k in 2007 and 100k in 2009 and 725k in 2019...
Plenty cashing out right now... with few remaining in state... I have friends in so many States it would make a great motorhome trip...
Most recent headed to Larry's Oregon... bought a large custom view home on double lot for 500k in 2012... closed last week for 1.8m...
Defies explanation...
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goeduck
Super Member
^^^ sounds like you have done well? Good for you!