The accountant says we can retire early. Woohoo!!!

   / The accountant says we can retire early. Woohoo!!! #21  
Some people have to earn more so they can pay more…
 
   / The accountant says we can retire early. Woohoo!!! #23  
Lot of interesting and helpful comments here. Also commend you on hiring a "fiduciary" for planning purposes. That's what my wife and I did over 30 years ago and it was worth every penny.

I suspect we were like a lot of folks on these forums. We worked hard, saved everything we could, moved much more than we wanted, fixed everything, etc. But we had a goal and stuck to it.

Additionally, some of those of us from rural backgrounds seem to come with skill sets that young people today simply don't have. Basic carpentry, wiring, plumbing, auto repair knowledge, etc., has allowed a lot of us to save a good amount of money through the years. And invest it... That sort of practical knowledge seems lacking in many of the young folks I interact with. Fixing up houses we bought or fixing used cars was kinda' second nature to us.

But there's a time to pack it up and do what you want. The cute girl I talked into marrying me years ago had to move and travel...a lot. But you do what you have to do. Still, decades ago, after writing out our personal plan with a lot of specifics, my wife walked in with a small yellow sheet of paper and showed it to me. She said, "So if everything's paid off and we have this amount of investments, we can go back to the farm, right?" I nodded yes. Then she said, "Sign it." And I did. Still have that little sheet of paper. And the girl. When we hit those targets, we went home and never regretted it at all.

But you do need something productive to do after retirement, to keep healthy physically and mentally. For me, a farm fits that bill perfectly. Sounds like you have those kinds of opportunities for work by choice as well.

So, congratulations. You worked for it, you earned it, enjoy it. (and keep a little invested in the market to offset inflation - a little market risk is called for).

Best of Luck
One of the Trade Magazines that I get had a story about the cost of building a house in large subdivisions. They didn't factor in the cost of the land since that varies so much. They did a survey with a bunch of the biggest home builders in the country and the rule of thumb is 1/3 of the cost to build a house is materials. The rest is labor and government fees.
 
   / The accountant says we can retire early. Woohoo!!!
  • Thread Starter
#24  
One of the Trade Magazines that I get had a story about the cost of building a house in large subdivisions. They didn't factor in the cost of the land since that varies so much. They did a survey with a bunch of the biggest home builders in the country and the rule of thumb is 1/3 of the cost to build a house is materials. The rest is labor and government fees.
Eddie,
In my industry (industrial process equipment), it's uncanny how accurate taking the material cost and multiplying by 2x comes to the net cost. Multiply that by 1.25 and you have the selling price.

BTW: When I finally decide to build a house, I've factored in the "Eddie Walker Consulting Fee" to review the plans. I've always been impressed at the little nuances you add to peoples "build threads" that are so intuitive and only come from experience.
 
   / The accountant says we can retire early. Woohoo!!! #25  
I'd love to look at your plans, but you'll have to keep in mind that I've changed my mind on my own house so many times that I've lost track of what was original, and where I'm going next. I'm actually moving the kitchen to the other side of the house, and swapping the front and rear entrances. :)
 
   / The accountant says we can retire early. Woohoo!!!
  • Thread Starter
#26  
I'd love to look at your plans, but you'll have to keep in mind that I've changed my mind on my own house so many times that I've lost track of what was original, and where I'm going next. I'm actually moving the kitchen to the other side of the house, and swapping the front and rear entrances. :)

Isn't that the truth. They say you need to build your dream home twice to work out all the things you'd change.

I'd love to share our friends house plans (and Shellie's tweaks) to see if you agree. I really think it's as close to perfect as you can be.
 
   / The accountant says we can retire early. Woohoo!!! #27  
He always told me that he was going to make enough money to hire out what ever he needed done.
Sometimes, all the money in the world won't get you a plumber, electrician, carpenter, etc. when you really need one. Depending on where you live, these craftsmen can be in short supply.

Then there's the issue of finding one that knows what he's doing.
 
   / The accountant says we can retire early. Woohoo!!! #28  
I retired 6 years ago at 59. About 6 weeks after I retired, a guy I had worked with contacted me and wanted me to work for him. I eventually relented but only work 3 days a week. I can get a lot done in 4 days so I'm ready for a break when I go back to work. I'm not sure how long I'll keep this schedule but it's flexible and no complaints so far.
 
   / The accountant says we can retire early. Woohoo!!! #29  
Sometimes, all the money in the world won't get you a plumber, electrician, carpenter, etc. when you really need one. Depending on where you live, these craftsmen can be in short supply.

Then there's the issue of finding one that knows what he's doing.
Good Luck during the pandemic… couldn’t hire a plumber for love or money and under the gun for a rental by the city…

I ended up doing it and line clogged with wipes…
 
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