Author Topic: Retiring But where?  (Read 7751 times)

PonoBill

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Re: Retiring But where?
« Reply #60 on: February 19, 2019, 11:21:56 AM »
Probably the most important factor in deciding timing for SS is what you'd do to your savings without it. If you are withdrawing more than 4 percent per year then there's a good likelihood it won't continue to support the lifestyle you are living. That's based on some academic research that is probably a bit dated, but I consider it to be still fundamentally valid. If you consider all the risk aspects you generally wind up with the same number even with limited data. You are probably always better off adjusting your lifestyle lower early rather than late. The fundamental investment approach of cost averaging works against you when you are retired--you tend to sell more investments when their value is low. Fortunately, you aren't buying when they are high, but all the timing-related risk elements work against you.

Go cheap early.
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eastbound

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Re: Retiring But where?
« Reply #61 on: February 19, 2019, 01:28:46 PM »
have we all roth'ed our ira's??  if you have sig $$ in, check into this asap

brooklyn is one of the cheapest places to live in the country---if youve lived in a house youve owned for a loong time, and filed no bldg permits, the ratio of face value to annual RE tax is insanely low--lower by far than anything ive ever seen anywhere else

ex: an old brownstone nearby my brooklyn house closed at 3.1mm$, 6 weeks ago--taxes on the house were 6566$ per year--same appx annual tax as one of my houses in CT, which id be hard-pressed to sell for 450K$

now one could sell said brooklyn house and move south (or pretty much anywhere), and get a lot more house for a lot less $$, but the taxes risk being much higher

so there are quirks to the analysis

and like pb, who pays a lotta tax in HI and OR, i am willing to forgo some tax advantage to live where i like, but RTG's damned chart, with NY's winning position, will haunt me!!!
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RideTheGlide

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Re: Retiring But where?
« Reply #62 on: February 19, 2019, 01:39:51 PM »
Probably the most important factor in deciding timing for SS is what you'd do to your savings without it. If you are withdrawing more than 4 percent per year then there's a good likelihood it won't continue to support the lifestyle you are living. That's based on some academic research that is probably a bit dated, but I consider it to be still fundamentally valid. If you consider all the risk aspects you generally wind up with the same number even with limited data. You are probably always better off adjusting your lifestyle lower early rather than late. The fundamental investment approach of cost averaging works against you when you are retired--you tend to sell more investments when their value is low. Fortunately, you aren't buying when they are high, but all the timing-related risk elements work against you.

Go cheap early.
In an odd way, it would almost be a good thing if my current job falls a year or so short and I have to take something for significantly less for a year as an adjustment stepping stone. Almost. I had a discouraging conversation today. Management at my current company doesn't think I have much chance of making it to my target date with the current client whether I become relevant on the new project or not. If the client goes away, they will not have anything for me. This is not an urgent situation; it is almost certain that nothing will happen this year and it is unlikely that it would be next year. It's after 2020 that it would get dicey and I want to make it to late 2023.
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RideTheGlide

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Re: Retiring But where?
« Reply #63 on: February 20, 2019, 04:28:22 AM »
Probably the most important factor in deciding timing for SS is what you'd do to your savings without it. If you are withdrawing more than 4 percent per year then there's a good likelihood it won't continue to support the lifestyle you are living. That's based on some academic research that is probably a bit dated, but I consider it to be still fundamentally valid. If you consider all the risk aspects you generally wind up with the same number even with limited data. You are probably always better off adjusting your lifestyle lower early rather than late. The fundamental investment approach of cost averaging works against you when you are retired--you tend to sell more investments when their value is low. Fortunately, you aren't buying when they are high, but all the timing-related risk elements work against you.

Go cheap early.
In an odd way, it would almost be a good thing if my current job falls a year or so short and I have to take something for significantly less for a year as an adjustment stepping stone. Almost. I had a discouraging conversation today. Management at my current company doesn't think I have much chance of making it to my target date with the current client whether I become relevant on the new project or not. If the client goes away, they will not have anything for me. This is not an urgent situation; it is almost certain that nothing will happen this year and it is unlikely that it would be next year. It's after 2020 that it would get dicey and I want to make it to late 2023.
How quickly things can change; it could become urgent based on another conversation yesterday. They may rework the relationship with the client so that they aren't billed for specific individuals at varying rates. Flat rate for support and maintenance for the phase out and not pursue a smaller role in the new project (management here is unconvinced that will amount to anything). The only reason the client would consider this is if it would cut their costs. The only way my company could lower the bill and still have the project be profitable would be to cut their costs. If the small role in the new project is eliminated, we are overstaffed. I am doing most of the work related to the new project. There is a pretty good chance the client will turn that down, though.  They have some control on who is doing what work now and they would lose that. They can cut costs by choosing an individual themselves and they have been asking some questions about people they have little interaction with.
« Last Edit: February 20, 2019, 04:32:30 AM by RideTheGlide »
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Caribsurf

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Re: Retiring But where?
« Reply #64 on: February 20, 2019, 10:38:12 AM »
jumped in on this thread late and slightly off topic but..in regard to pets/retirement , we have been using trustedhousesitters.com and it's been a blessing.  We used to spend thousands in kennel and doggie day care when we traveled , which is a lot of travel for work and to our home in the Grenadines where I type this today. Not only the cost, but the guilt of leaving our pets was hard, but this makes it much easier when we have to travel knowing we have great sitters and pets are comfortable at home and for free...

It's a website that has  scores of people from all over the world  looking to house/pet sit in exchange for a free vacation in your home.  Now it helps if you live near the coast like we do in Florida and Maine and attract many applicants, but even so, people are always willing to travel and see the country.  All prospective sitters who join the website pay a fee and  have thorough police back ground checks and credit checks and they get reviewed by those who they have sat for so you know who is reputable.  It's really amazing.  We have used this service 11 times now and had sitters from Australia, Canada, Italy and of course the U.S. and we have never been disappointed. In fact a few are repeat sitters who enjoyed their stay and our pets so much.   The number of applicants we get is crazy, but we weed them out and then use Skype to interview them.     

It's really a great cost saving and peace of mind..

So before you say no to the pet, check this website out
http://trustedhousesitters.com
   I think I will also post this in the travel section...It works both ways as you can also sign up to be a sitter as well.  Might be a great way to travel the world on a budget
  I think we may sign up to be sitters eventually..
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PonoBill

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Re: Retiring But where?
« Reply #65 on: February 20, 2019, 02:39:46 PM »
RTG, your employer has made it fairly obvious they have no sense of loyalty to you, so perhaps you should look at this as an opportunity. I don't know what kind of business you're in, but if you have any entrepreneurial bent, a client being marginalized is an opportunity.
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surfcowboy

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Re: Retiring But where?
« Reply #66 on: February 21, 2019, 08:03:19 PM »
Amen Pono.

Iíve built my client base on helping companies who were left fallow by another company. Weíve moved up to where we get our pick but we still get a half dozen a year that someone left lying half done.

RTG, it changes fast for the good too. Especially in tech. Ride the glide man, all the glides.

OUTSIDEWAVE

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Re: Retiring But where?
« Reply #67 on: March 09, 2019, 11:50:59 PM »
Rtg  based on your description  management  is just waiting for a chance to
cut costs   and that sounds like  you.  Think long and hard be honest   if this client goes,  is there a place for you?   If  the answer is no,   Maybe  dont wait ,  jump ship now!  Competitor perhaps? Can you take that client with you?

 Its a strange and  unforgoving world    i surf with this guy who worked at a municiple job low to medium  field  manager or maintenance   20 years  and gets a very good pension   owns 2 houses  in Oceanside.   Me  worked my way up owned a company only to have  it stolen  pretty much    at one time i made 10 times his salary..  some times  i think  20 years low stress then .......retirement    seems some of our public service folks had the right idea..

My wife loves the trees so we are looking hard at Washington.   We plan on living frugally  we dont travel now and I dont see that changing    in cold weather how much can your heating bill  run   ?  What are utility  food gas   eg  cost of  living  like in Washington?  Any one know?p

Do any if you ever look at the crime stats?  Thats another consideration  but not sure howvreal it is?  While  camping up the coast we went through Eureka   that placevwas scary  easily identifiable meth heads on the street needles condoms and god only knows what other stuff  littered all over.   And just a very bad vibe!
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eastbound

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Re: Retiring But where?
« Reply #68 on: March 10, 2019, 04:13:54 AM »
20 years low stress...pension....retirement....

no such thing anymore
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RideTheGlide

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Re: Retiring But where?
« Reply #69 on: March 10, 2019, 07:09:43 AM »
Just checking in, seeing that I got 3 pieces of advice since I last did.

I am too risk averse at this point in the game to step out on my own. My latest Indeed estimate is that for my position with my experience in my area, I am paid 134% more than the going rate. I have done some poking around and they aren't wrong; a cut of 50% or more is likely if I wanted to be hired anytime soon. So jumping ship before it is blatantly obvious that I need to start packing up is not likely to work in my favor.

The good news is that the client has given me some very positive feedback about my work with their new project. I found the cause of a couple of big problems during a time crunch and one of my contacts tells me she hears my name a lot in a good way. There is no such thing as truly firm footing these days, but I am feeling a lot better than I did not long ago. I don't think the idea of contracting for a generic resource to do my work is going to fly. If they contract for me specifically, management would work the contract to make a profit and be happy to keep me around. There is a chance of that requiring some negotiation though.

The main topic of this thread is really important if you are in good, but not stellar, shape for retirement, which kind of describes my situation. If I land the right place and stay reasonably healthy, I should have a comfortable retirement. The right place would mean that I am happy there and my costs are close to what I expected. Moves are a gamble; sometimes people sell quickly for a profit, but all too often it goes the other way. Having to pay for a move and still paying upkeep, insurance and payments for the place you left for a while can burn through some cash.

I will have to be careful about falling in love with a specific town and/or house too quickly. I have a bad history with used vehicles just "feeling right" and ignoring warning signs. That's just the most obvious example; it's happened with other things. I am going to start doing visits to spots on my list this year geared more toward researching them as places to live; staying at an AirBnB in an area that is a likely candidate for a home, driving in traffic, seeing what there is to do when I am not paddling, fishing or just hanging out at the beach. Do at least a day or two of looking at homes in my range. I will also do some paddling and fishing.
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SUP Leave

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Re: Retiring But where?
« Reply #70 on: March 11, 2019, 10:29:06 AM »
Rtg  based on your description  management  is just waiting for a chance to
cut costs   and that sounds like  you.  Think long and hard be honest   if this client goes,  is there a place for you?   If  the answer is no,   Maybe  dont wait ,  jump ship now!  Competitor perhaps? Can you take that client with you?

 Its a strange and  unforgoving world    i surf with this guy who worked at a municiple job low to medium  field  manager or maintenance   20 years  and gets a very good pension   owns 2 houses  in Oceanside.   Me  worked my way up owned a company only to have  it stolen  pretty much    at one time i made 10 times his salary..  some times  i think  20 years low stress then .......retirement    seems some of our public service folks had the right idea..

My wife loves the trees so we are looking hard at Washington.   We plan on living frugally  we dont travel now and I dont see that changing    in cold weather how much can your heating bill  run   ?  What are utility  food gas   eg  cost of  living  like in Washington?  Any one know?p

Do any if you ever look at the crime stats?  Thats another consideration  but not sure howvreal it is?  While  camping up the coast we went through Eureka   that placevwas scary  easily identifiable meth heads on the street needles condoms and god only knows what other stuff  littered all over.   And just a very bad vibe!

WA is pretty temperate on the West side and so your heating/cooling is largely provided by the Pacific Ocean. I pay probably $300 per month average for gas and electric for my antiquated commercial building and roughly $250 for a more updated house. As far as costs of living rural WA is more expensive than Texas, and much less than California. I'm not sure how to encapsulate it. There is no state income tax, but an 8+ percent sales tax.

Property and personal crimes are not horrible, but it depends on where you are just like anywhere.

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RideTheGlide

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Re: Retiring But where?
« Reply #71 on: March 11, 2019, 06:51:29 PM »

Top of my list right now is the FL Space Coast and the first place I plan to visit/look is Melbourne:

https://www.floridatoday.com/story/news/2018/12/07/melbourne-makes-100-best-places-retire-list/2229499002/

That's a recent article, obviously biased, but the list covers a lot of areas. It scores high for value as well as having recreation and weather I want. I plan to head down there for several days within a year to do some serious scouting.
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spirit4earth

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Re: Retiring But where?
« Reply #72 on: March 11, 2019, 07:04:52 PM »
Florida sounds good.  They donít tax SSI or retirement income, either.

Caribsurf

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Re: Retiring But where?
« Reply #73 on: March 11, 2019, 08:25:43 PM »
I own a home just south of Melbourne in VERO Beach.  I surf in Melbourne a lot and itís a nice, relatively quiet laid back surf town with plenty of great beaches and good surf.  You can always find a beach to surf by yourself. Plenty of good restaurants and even a decent airport for travel.

Much less crowded than south Florida, and while the water isnít always that beautiful tropical blue that south Florida gets, the surf is much, much better and fewer crowds and traffic.  There iare many retirees in the area and as a result plenty of good medical care.  The weather is perfect in the winter when we spend time here.  I am far from retired, but I highly recommend this part of Florida.
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Re: Retiring But where?
« Reply #74 on: March 12, 2019, 06:40:14 AM »
RTG,  A young friend who stayed in the private label trade for the surf industry lives there.  He has had plants in China, NICA, MEX and now the DR.  He says Melbourne is perfect from the standpoint of not being either too rednecky or gated/guarded compoundey.*   If you want his number before heading there for a sniff send me a PM.

Jim

*I asked the same question about looking for a winter escape   ..but, I am about ten years too late, and still have some ideas to play with.
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