To go evatualy in to retirement

    Quote from Cameron Roberts

    I haven’t been able to pull the kind of returns out of apartments that single family homes command. It’s even better if you can buy one in disrepair and bring it up before renting. It’s possible to get properties at a total investment of 60k that will generate 950 a month gross.

    Roger that. The advantage of apartments is more doors per location. The disadvantage is appreciation is limited to increases in income. SFRs have a much higher potential for appreciation. Out here in the inflated NW you can't find anything other than a mobile home in a park for $60k. Even plexes are upwards of $110k door right now.

    Remember folks - this isn't a rehearsal, this is The Show!8)

    Quote from SlingLow

    Roger that. The advantage of apartments is more doors per location. The disadvantage is appreciation is limited to increases in income. SFRs have a much higher potential for appreciation. Out here in the inflated NW you can't find anything other than a mobile home in a park for $60k. Even plexes are upwards of $110k door right now.


    Ouch. Tougher market for sure. I’ve snagged some that required major Reno for 20k. Brick houses believe it or not.



    Sent from my iPhone using Polaris Slingshot Forum mobile app

    The question that has no correct answer. How much is enough. That amount for someone living in San Francisco living with a large mortgage would have to be larger than someone living in the suburbs of Idaho who has been living on the family plantation all their lives. I don't buy into the percentage theory of needing 80% of your working income times the number of remaining years. What about health needs if you end up needing long term care at home or in an assisted living institution? Those places will easily eat up between $75,000 to $90,000 per year. If you don't have LTC insurance, you better have a large bank roll to cover that bill or have your assets protected. Since you say you don't have a financial planner, you might want to look into finding a good trust attorney. Most of them will either host seminars on what's involved with creating a trust, the different kinds of trusts, and why you need a trust. Others will give you a free one on one appointment to discuss your options. Having a trust, and a PROPER trust is money well spent


    Good luck and start planning now. Waiting until you're in your sixties is a tad too late to plan

    Nobody gets outta here ALIVE

    Quote from Jonathan Thompson

    Appreciate everyone's thoughts. I guess its time to pay a professional...

    I strongly recommend you look for an investment pro who follows the fiduciary rule and charges a flat fee as opposed to a percentage of your investment. The fiduciary rule means the advice you get will benefit you and not generate sales for the so-called investment advisor!

    If you invest through some type of 401k through your employer, there is generally either an investment calculator and/or investment advisory service available. You will be asked questions about your retirement plans such as travel versus home body, etc Most platforms such as Fidelity or Merrill Lynch offer that service free of charge. I also work with our platform to provide annual in house seminars for our employees covering that topic.

    Retirement is so great! We summer in Nova Scotia and winter in Florida. Wonderful places for each of those seasons. The SS is trailered to Fl in Nov, and back to NS in May. We are not wealthy. But have a pretty good life. In my opinion, enter retirement debt free. Pay cash for stuff. But others will have different (and equally correct) opinions on both issues.

    Quote from SSREAPER

    I screwed...Ill be working until I die on the job! :00008862::00000008:


    SSREAPER

    I'm right there with ya @SSREAPER!


    If I could sell all my toys for what I have invested in them and then refrain from buying any more and learn to stay at home instead of roaming all over the country and dis own both my kids and, and, and, well you get the picture. I too will have to work over on the day of my funeral. I'll probably be late for that like everything else! LOL


    Tim "Ghost" Ganey
    Winfield, Alabama
    205spam412spam2868

    Quote from Ghost

    I too will have to work over on the day of my funeral. I'll probably be late for that like everything else! LOL

    I dont mind being late to the funeral....I just think with the way I am working...I get there sooner than I should....worse part is...Ill end up having to see myself on that day....I am THE REAPER afterall !! :evil:


    SSreaper

    :BLACKSS: 2016 SL LE BLACK PEARL :HEADERSS::COLDAIRSS::COILOVERSS::MOTOROILSS::OILFILTERSS:

    We recently paid off the house, so that kinda triggered me to look at where we are financially, hence my question. I'm pretty sure the wife will retire soon (she just turned 40 this year.) I'm sure that will start costing me money.

    ___________________________________
    #02828 January 2015 build date.
    Here to assist anyone in the Denver area.

    Quote from SSREAPER

    May I inquire how old you are sir?
    SSREAPER

    I'm 44, will be 45 in November. I didn't get married for the first time till I was 40 so I had lots of time to save all sorts of money. I always figured I'd retire at 50 even when I was a teenager. I've also been VERY lucky in my career, so that helps.

    ___________________________________
    #02828 January 2015 build date.
    Here to assist anyone in the Denver area.

    Quote from Jonathan Thompson

    I'm 44, will be 45 in November. I didn't get married for the first time till I was 40 so I had lots of time to save all sorts of money. I always figured I'd retire at 50 even when I was a teenager. I've also been VERY lucky in my career, so that helps.

    Well see...there you have it....your older than your wife so you get to retire....she has to work now to take care of you!! :thumbsup:


    SSreaper

    :BLACKSS: 2016 SL LE BLACK PEARL :HEADERSS::COLDAIRSS::COILOVERSS::MOTOROILSS::OILFILTERSS:

    Quote from SSREAPER

    Well see...there you have it....your older than your wife so you get to retire....she has to work now to take care of you!! :thumbsup:
    SSreaper

    she's the one that wants to quit her job... I'd work until I'm dead if I had my way. I've never really cared about the money until I met my wife.

    ___________________________________
    #02828 January 2015 build date.
    Here to assist anyone in the Denver area.