The “I want to retire soon” thread (2 Viewers)

[-OZ-]

will probably end up in North Carolina area

A top 4 state IMO.

What's your 3 others?

The Carolinas, Tennessee and AL - North of the Tennessee River

 

[NutterButter]

will probably end up in North Carolina area

A top 4 state IMO.

What's your 3 others?

The Carolinas, Tennessee and AL - North of the Tennessee River

Have you ever been in an airplane?

 

[jwb]

will probably end up in North Carolina area

A top 4 state IMO.

We’ve loved it here. Our lake lot is actually SC, but it’s still close to NC. I have a feeling that my oldest will stay in the Raleigh area just because of jobs/work. Not sure on the other two yet. I could see Raleigh, Charlotte and even Atlanta although my youngest definitely wants to travel (semester abroad in college). I could honestly see him spending time in Japan/Korea of all areas. He’s taken a few years of Chinese so who knows. Middle son is the big question mark. I could see him staying close and crashing with us many weekends with friends. He loves the lake.

Talk me into NC. Last year we flew to Charlottesville rented a car and drove up through VA, ending up in TN and flew out of Nashville.

I think all three states are probably similar with climate. But, we didn't like the coastal cities as much and they can be affected by hurricanes. We liked the more rural green rolling farm field areas better. Ultimately on the west side of the Appellations which eliminated NC. But TN seems to be too far right for our tastes, VA weed is legal. So right now were looking at west Virginia (not to be confused with West Virginia).

My son goes to school in Raleigh.

I love NC. Fantastic place to live.

I agree.

I live about 40 minutes south of Raleigh, and it's "rural but growing" with tons of subdivisions popping up. But I still have plenty of roads with farms and cows and such.

The biggest selling point to me was the climate. Four seasons, but winter is like a NY autumn (I've seen 6" of snow total in 3 years). Yes it's pretty hot from mid June to mid Sept, but other than that the weather is fantastic, especially if you're ok with cooler weather and aren't looking for "t-shirts and shorts year round". The area is rapidly growing, everything is "new", there are jobs all over, and while there are pockets of old timers still fighting the civil war, for the most part, it's very diverse and getting more progressive by the day. I go back to NY now (I'm originally from the Hudson Valley) and it's like black and white Kansas compared to technicolor Oz.

 

[-OZ-]

will probably end up in North Carolina area

A top 4 state IMO.

What's your 3 others?

The Carolinas, Tennessee and AL - North of the Tennessee River

Have you ever been in an airplane?

We like the southeast. We’ll travel plenty, but this area is home.

 

[Sand]

I'm in the other direction, wife is 5 years older than me and 62 is coming fast. Any advantage for her to wait another year or two when we don't need it for any reason - or just get it as soon as we can and invest it?

Tons of money at stake here. If you don't have a good idea what the effects are with two people taking SS then by all means hire someone who can model and show you all the permutations. It's too big to wing it, IMO.

 

[nirad3]

I know I already posted in this thread but too lazy to scroll through 17 pages to find what I said. I'm pretty sure I posted that I'd never retire given my poor financial choices over the years, but I've relegated myself to "consulting" in my mid-60's until whenever I croak.

That said, I do have some hope that I can find myself a nice little Craftsman-style bungalow in a town within an hour from Austin, TX to call home. And then buy a decent-sized RV (with a van base) to drive myself wherever I want for a week or two at a time. Ya'know, go and visit a buddy in Colorado or Georgia and wherever my kids happen to reside and be able to work from the RV. That's my "retirement" plan.

 

[jamny]

Most of our friends moved out of NY long before we did and since we never had kids, there was no real family to keep us anchored anywhere. We travelled a lot in our 30 years together and with our first visit to Boise in 2017, we knew this was the place for us. It hit every point we wanted. We live in a 1 bedroom condo which cost us about half what we sold our NY house for. We'd like to maybe get a slightly bigger one but they seem to be building more apartment buildings and not enough condo buildings. We're considering a townhome that has an HOA handle to landscaping because my wife is a neat freak and some other owners in the condo are not. She's getting annoyed at some things. But we'd want something without stairs since it would probably be our last move but that's hard to find. A 55+ community is also an option. We're fine as is for another couple of years though.

FYI, I remember you posting about Boise before, and I was impressed with how intentional you and your wife were about selecting that community and doing your homework over the course of a few years. We're trying to do the same.

Yeah, this forum was especially helpful in my early research into Boise

Things really progressed quickly and our timing turned out to be great. We bought just before covid and sold our house at a peak of the sellers market in 2021. Now our condo is valued at close to what our house was.

My buddy moved to Star about 4 years ago and loves it there

That's a hot area. Not a lot going on right now but a ton of construction all around. They need to bring more businesses in for all the new people flocking there.

 

[fruity pebbles]

I know I already posted in this thread but too lazy to scroll through 17 pages to find what I said. I'm pretty sure I posted that I'd never retire given my poor financial choices over the years, but I've relegated myself to "consulting" in my mid-60's until whenever I croak.

That said, I do have some hope that I can find myself a nice little Craftsman-style bungalow in a town within an hour from Austin, TX to call home. And then buy a decent-sized RV (with a van base) to drive myself wherever I want for a week or two at a time. Ya'know, go and visit a buddy in Colorado or Georgia and wherever my kids happen to reside and be able to work from the RV. That's my "retirement" plan.

Could be a lot worse. That doesn’t sound half bad.

 

[Peggy]

will probably end up in North Carolina area

A top 4 state IMO.

We’ve loved it here. Our lake lot is actually SC, but it’s still close to NC. I have a feeling that my oldest will stay in the Raleigh area just because of jobs/work. Not sure on the other two yet. I could see Raleigh, Charlotte and even Atlanta although my youngest definitely wants to travel (semester abroad in college). I could honestly see him spending time in Japan/Korea of all areas. He’s taken a few years of Chinese so who knows. Middle son is the big question mark. I could see him staying close and crashing with us many weekends with friends. He loves the lake.

Talk me into NC. Last year we flew to Charlottesville rented a car and drove up through VA, ending up in TN and flew out of Nashville.

I think all three states are probably similar with climate. But, we didn't like the coastal cities as much and they can be affected by hurricanes. We liked the more rural green rolling farm field areas better. Ultimately on the west side of the Appellations which eliminated NC. But TN seems to be too far right for our tastes, VA weed is legal. So right now were looking at west Virginia (not to be confused with West Virginia).

My son goes to school in Raleigh.

I love NC. Fantastic place to live.

I'm in the other direction, wife is 5 years older than me and 62 is coming fast. Any advantage for her to wait another year or two when we don't need it for any reason - or just get it as soon as we can and invest it?

I suggest you look at how much you are leaving on the table in that span....then see how much you would get for waiting and how long will it take to break even on the amount you left on the table annually for those two years.

Calculating your break even is the critical calculation in ultimately making a decision to either turn it on at 62 vs waiting if you really don't need it.

Good idea. I don't think it ever catches up. If I did it correctly. Collect at 62 amount invested compounding at 6% monthly for 11years until age 72 (when I turn 67) is greater than any of the other values: Age 65 for 9 years, age 67 for7 years or 70 for 4 years.

I pretty much come to this same conclusion every time. Looking just at my own the break even point is at age 90. It's just a mater leaving the wife a bigger monthly check if I die early, which still doesn't matter if she continues to invest everything but the spend according to plan.

In any event I don't see any reason to not take at full retirement age, 67. There is no perceived benefits to a surviving spouse for waiting past 67.

 

[SFBayDuck]

will probably end up in North Carolina area

A top 4 state IMO.

What's your 3 others?

The Carolinas, Tennessee and AL - North of the Tennessee River

Sounds moist.

 

[fruity pebbles]

I’ll most certainly take my social security at 62. My son lives with me and he’ll be 16 when I turn 62. Being able to collect an additional 50% of my full retirement benefit on top of my retirement at 62 for two years until he turns 18, puts the break even well past my life expectancy.

 

[Peggy]

Watch out for these taxes and deductions for SS.

• If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2024, that limit is $22,320.
• You will pay federal income taxes on your benefits if your combined income (50% of your benefit amount plus any other earned income) exceeds $25,000/year filing individually or $32,000/year filing jointly. You can pay the IRS directly or have taxes withheld from your payment.

The first bullet sunsets when you reach full retirement age so if you have a part time gig you probably don't want to take SS early.
The second bullet will push off my wife taking SS early by at least one year.

 

[-OZ-]

There is no perceived benefits to a surviving spouse for waiting past 67.

that’s the part many miss.

You will pay federal income taxes on your benefits if your combined income (50% of your benefit amount plus any other earned income) exceeds $25,000/year filing individually or $32,000/year filing jointly. You can pay the IRS directly or have taxes withheld from your payment.

Does this include traditional IRA / 401k and pensions?

 

[NutterButter]

I know I already posted in this thread but too lazy to scroll through 17 pages to find what I said. I'm pretty sure I posted that I'd never retire given my poor financial choices over the years, but I've relegated myself to "consulting" in my mid-60's until whenever I croak.

That said, I do have some hope that I can find myself a nice little Craftsman-style bungalow in a town within an hour from Austin, TX to call home. And then buy a decent-sized RV (with a van base) to drive myself wherever I want for a week or two at a time. Ya'know, go and visit a buddy in Colorado or Georgia and wherever my kids happen to reside and be able to work from the RV. That's my "retirement" plan.

That sounds like an awesome plan. I've become a fan of that living on the road in an rv or airbnb lifestyle. One of my many retirement ideas is moving somewhere out west like arizona and then going on road trips from there throughout the year.

 

[stbugs]

Watch out for these taxes and deductions for SS.

• If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2024, that limit is $22,320.
• You will pay federal income taxes on your benefits if your combined income (50% of your benefit amount plus any other earned income) exceeds $25,000/year filing individually or $32,000/year filing jointly. You can pay the IRS directly or have taxes withheld from your payment.

The first bullet sunsets when you reach full retirement age so if you have a part time gig you probably don't want to take SS early.
The second bullet will push off my wife taking SS early by at least one year.

Yeah, lots of fun tax implications. It doesn’t make sense to work and take benefits early. Not sure how capital gains are counted. One note is to make sure you read the second bullet clearly. The tax rate isn’t 50%, it’s that you pay federal tax on 50% of the SS benefits (50% is not taxed). If you are married filing jointly, you are in the 12% tax bracket up to $125k including the standard deduction. That $125k is comprised of 50% of your combined SS plus any other income. Many states, like SC, don’t tax SS at all (SC also has a $10k deduction on other income) so that’s another thing to consider.

 

[Uruk-Hai]

will probably end up in North Carolina area

A top 4 state IMO.

We’ve loved it here. Our lake lot is actually SC, but it’s still close to NC. I have a feeling that my oldest will stay in the Raleigh area just because of jobs/work. Not sure on the other two yet. I could see Raleigh, Charlotte and even Atlanta although my youngest definitely wants to travel (semester abroad in college). I could honestly see him spending time in Japan/Korea of all areas. He’s taken a few years of Chinese so who knows. Middle son is the big question mark. I could see him staying close and crashing with us many weekends with friends. He loves the lake.

Talk me into NC. Last year we flew to Charlottesville rented a car and drove up through VA, ending up in TN and flew out of Nashville.

I think all three states are probably similar with climate. But, we didn't like the coastal cities as much and they can be affected by hurricanes. We liked the more rural green rolling farm field areas better. Ultimately on the west side of the Appellations which eliminated NC. But TN seems to be too far right for our tastes, VA weed is legal. So right now were looking at west Virginia (not to be confused with West Virginia).

West of northern Va might be worth a look. Charlottesville pretty nice too. Message me if you’d like some specific recommendations.

I'll hop in and offer my two cents if you want them on western VA, too. IIRC, matty & I live about 30 miles apart. I'm about 90 minutes (at 3 a.m. - otherwise, it's 74 hours on I-66) west of D.C. & 90 minutes NW of Charlottesville.

 

[steelerfan1]

will probably end up in North Carolina area

A top 4 state IMO.

We’ve loved it here. Our lake lot is actually SC, but it’s still close to NC. I have a feeling that my oldest will stay in the Raleigh area just because of jobs/work. Not sure on the other two yet. I could see Raleigh, Charlotte and even Atlanta although my youngest definitely wants to travel (semester abroad in college). I could honestly see him spending time in Japan/Korea of all areas. He’s taken a few years of Chinese so who knows. Middle son is the big question mark. I could see him staying close and crashing with us many weekends with friends. He loves the lake.

Talk me into NC. Last year we flew to Charlottesville rented a car and drove up through VA, ending up in TN and flew out of Nashville.

I think all three states are probably similar with climate. But, we didn't like the coastal cities as much and they can be affected by hurricanes. We liked the more rural green rolling farm field areas better. Ultimately on the west side of the Appellations which eliminated NC. But TN seems to be too far right for our tastes, VA weed is legal. So right now were looking at west Virginia (not to be confused with West Virginia).

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid.

I’ve always liked eastern TN. I’d love WY,MT, but I’d be going there by myself, but eastern TN might be okay to sell.

 

[Desert_Power]

But TN seems to be too far right for our tastes, VA weed is legal.

Hemp derived products every bit (or more) as effective are legal in almost all states right now.

 

[Gally]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

 

[Peggy]

There is no perceived benefits to a surviving spouse for waiting past 67.

that’s the part many miss.

You will pay federal income taxes on your benefits if your combined income (50% of your benefit amount plus any other earned income) exceeds $25,000/year filing individually or $32,000/year filing jointly. You can pay the IRS directly or have taxes withheld from your payment.

Does this include traditional IRA / 401k and pensions?

I think so because they count as income towards your AGI. They definitely don't count towards the earning limits though that cut the amount of the SS payment. Just make it so you pay tax on some/more of the SS payment.

Watch out for these taxes and deductions for SS.

• If you are under full retirement age for the entire year, we deduct $1 from your benefit payments for every $2 you earn above the annual limit. For 2024, that limit is $22,320.
• You will pay federal income taxes on your benefits if your combined income (50% of your benefit amount plus any other earned income) exceeds $25,000/year filing individually or $32,000/year filing jointly. You can pay the IRS directly or have taxes withheld from your payment.

The first bullet sunsets when you reach full retirement age so if you have a part time gig you probably don't want to take SS early.
The second bullet will push off my wife taking SS early by at least one year.

Yeah, lots of fun tax implications. It doesn’t make sense to work and take benefits early. Not sure how capital gains are counted. One note is to make sure you read the second bullet clearly. The tax rate isn’t 50%, it’s that you pay federal tax on 50% of the SS benefits (50% is not taxed). If you are married filing jointly, you are in the 12% tax bracket up to $125k including the standard deduction. That $125k is comprised of 50% of your combined SS plus any other income. Many states, like SC, don’t tax SS at all (SC also has a $10k deduction on other income) so that’s another thing to consider.

Capital gains are added in to your AGI which determines how much of the SS payment is taxed. I think. Would love someone else in the know to confirm all this.

 

[Peggy]

will probably end up in North Carolina area

A top 4 state IMO.

We’ve loved it here. Our lake lot is actually SC, but it’s still close to NC. I have a feeling that my oldest will stay in the Raleigh area just because of jobs/work. Not sure on the other two yet. I could see Raleigh, Charlotte and even Atlanta although my youngest definitely wants to travel (semester abroad in college). I could honestly see him spending time in Japan/Korea of all areas. He’s taken a few years of Chinese so who knows. Middle son is the big question mark. I could see him staying close and crashing with us many weekends with friends. He loves the lake.

Talk me into NC. Last year we flew to Charlottesville rented a car and drove up through VA, ending up in TN and flew out of Nashville.

I think all three states are probably similar with climate. But, we didn't like the coastal cities as much and they can be affected by hurricanes. We liked the more rural green rolling farm field areas better. Ultimately on the west side of the Appellations which eliminated NC. But TN seems to be too far right for our tastes, VA weed is legal. So right now were looking at west Virginia (not to be confused with West Virginia).

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid.

I’ve always liked eastern TN. I’d love WY,MT, but I’d be going there by myself, but eastern TN might be okay to sell.

We were thinking that eastern TN would have less harsh winters and longer warmer summers as compared to WY or MT. Wife is from MT and we have both family and friends there, but, looking for somewhere a bit farther south and warmer.

 

[WVU Alum]

will probably end up in North Carolina area

A top 4 state IMO.

We’ve loved it here. Our lake lot is actually SC, but it’s still close to NC. I have a feeling that my oldest will stay in the Raleigh area just because of jobs/work. Not sure on the other two yet. I could see Raleigh, Charlotte and even Atlanta although my youngest definitely wants to travel (semester abroad in college). I could honestly see him spending time in Japan/Korea of all areas. He’s taken a few years of Chinese so who knows. Middle son is the big question mark. I could see him staying close and crashing with us many weekends with friends. He loves the lake.

Talk me into NC. Last year we flew to Charlottesville rented a car and drove up through VA, ending up in TN and flew out of Nashville.

I think all three states are probably similar with climate. But, we didn't like the coastal cities as much and they can be affected by hurricanes. We liked the more rural green rolling farm field areas better. Ultimately on the west side of the Appellations which eliminated NC. But TN seems to be too far right for our tastes, VA weed is legal. So right now were looking at west Virginia (not to be confused with West Virginia).

West of northern Va might be worth a look. Charlottesville pretty nice too. Message me if you’d like some specific recommendations.

If you are interested in info on areas west of NoVA, let me know. Jefferson County is a good one to look at for the rolling farmland. Jefferson and Berkeley Counties are at the northern end of the Shenandoah Valley. Both an hour from the DC metro area. I-81 runs through Berkeley. Very close to I-70 and 66. Small regional airport, but very close to JFK (We drive 30 minutes farther and fly out of BWI). MARC train runs into DC, or a quick drive to Leesburg/Ashburn area to hop on the metro. Cost of living is relatively low but with easy access to large metro areas.

 

[bcat01]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

We vacationed around Asheville and went to a brewery/cidery that was out in the country. We thought it would be laid back and relaxing. There were a couple hundred people there.

 

[IvanKaramazov]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

We vacationed around Asheville and went to a brewery/cidery that was out in the country. We thought it would be laid back and relaxing. There were a couple hundred people there.

We were in Asheville about a year ago. The nearest liquor store was like a 15 minute drive away.

That kind of thing wouldn't fly in the upper Midwest.

 

[Peggy]

But TN seems to be too far right for our tastes, VA weed is legal.

Hemp derived products every bit (or more) as effective are legal in almost all states right now.

It's the or more part that scares me. I just want to grow my own without fear of the ganja police.

 

[Peggy]

will probably end up in North Carolina area

A top 4 state IMO.

We’ve loved it here. Our lake lot is actually SC, but it’s still close to NC. I have a feeling that my oldest will stay in the Raleigh area just because of jobs/work. Not sure on the other two yet. I could see Raleigh, Charlotte and even Atlanta although my youngest definitely wants to travel (semester abroad in college). I could honestly see him spending time in Japan/Korea of all areas. He’s taken a few years of Chinese so who knows. Middle son is the big question mark. I could see him staying close and crashing with us many weekends with friends. He loves the lake.

Talk me into NC. Last year we flew to Charlottesville rented a car and drove up through VA, ending up in TN and flew out of Nashville.

I think all three states are probably similar with climate. But, we didn't like the coastal cities as much and they can be affected by hurricanes. We liked the more rural green rolling farm field areas better. Ultimately on the west side of the Appellations which eliminated NC. But TN seems to be too far right for our tastes, VA weed is legal. So right now were looking at west Virginia (not to be confused with West Virginia).

I love Charlottesville. It pretty much has everything we’d want in a small city, plus it’s home of the Army JAG school.
TN probably is too far right for many, but it’s still among the top states imo. But then, I’m in Alabama so everything is left of us.
The Carolinas, Tennessee and AL - North of the Tennessee River all work well if you can stand the humidity. Which isn’t horrible in western NC IIRC.

I just realized I screwed up Charlottesville with Charlette, NC. Charlottesville is a small city, what? We didn't make it that far north. Made it to Roanoke, then Hot Springs before we went back down into NC and TN. The most picturesque place we went through was Johnson City TN, but focusing on VA there are two golf courses just north of Bristol that look like there are some rolling farm field type neighborhoods.

 

[-OZ-]

Charlottesville is a small city, what?

It very much is a small city, college town. Good food, stuff to do, traffic can suck but nothing like a big city.

 

[matttyl]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

We vacationed around Asheville and went to a brewery/cidery that was out in the country. We thought it would be laid back and relaxing. There were a couple hundred people there.

Was it by chance Sierra Nevada, or maybe Oscar Blues? Both are kinda destination spots (I’ll be there next week myself).

 

[matttyl]

Charlottesville is a small city, what?

It very much is a small city, college town. Good food, stuff to do, traffic can suck but nothing like a big city.

Also, if it matters, very blue in a sea of red.

 

[Peggy]

To determine the amount of what Social Security calls your combined income, add your AGI, interest income, and half of your benefit amount. Your gross income includes the following:

• Salary or wages
• Capital gains
• Business income
• Investment earnings
• Dividends
• Alimony
• Retirement account distributions

 

[stbugs]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

I live on the south side of Charlotte and we didn’t really like the north side closer to 77 and Lake Norman. It was a lot busier there. That said we also do have a lot of building going on, everywhere in Charlotte and Raleigh does. People are moving here, it happens but after growing up going to NYC and Boston and living outside DC and LA, I can equivocally say that “traffic” in Charlotte/Raleigh is a bit of a pain sometimes but it is nothing like the big cities. If it’s not rush hour or vacation Saturdays, it’s very manageable. Again, I think 77/Lake Norman/Huntersville on the NW side of Charlotte is the worst.

Honestly, weather wise, I love it here. Sure, their are some humid days but it’s not summer in Arizona or summer in Florida. I’ll deal with some humidity while in shorts and a t-shirt and then enjoy the lovely weather almost all year round. I have no desire to have a freak snowstorm or icy roads and Spring/Fall/random weekends in Winter are incredible. Even on the coldest days, it’s usually sunny/Carolina blue outside.

That said, we are planning to move in a couple years to the lake once all our boys are in or out of college, but that’s still in the same general area.

 

[Desert_Power]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

If you can't stand humidity, you probably should target areas with higher elevation or avoid most southern states.

The thing to keep in mind with traffic is that you aren't going to be commuting like folks typically do because you are retired. I would prioritize communities that have a central area you could live near and shop/dine even if that makes it a further drive to actual core of the metro area.

People love to complain about growth, but the demand here is not going to slow any time soon. Without an investment in transit, I forecast a rough time living in these suburban car-centric areas.

 

[steelerfan1]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

As stbugs said, I guess it’s where you’ve come from. For me 77 south is a bear, as is hwy 150 and 73. the heat for me is bad, but any temp that starts with an 8 already has me uncomfortable.

 

[Desert_Power]

Also, this: https://youtu.be/Wgz1RZ-W5OM?si=topqShCx3k-WEX_A

 

[stbugs]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

As stbugs said, I guess it’s where you’ve come from. For me 77 south is a bear, as is hwy 150 and 73. the heat for me is bad, but any temp that starts with an 8 already has me uncomfortable.

For retirement, as mentioned above, you aren’t going to be commuting in bad spots. NC traffic is still a long way away from terrible traffic. I lived outside of DC for years and the traffic was relentless. Going to the mall on the weekend or going down 66 to go into the city Saturday night. It was way more than just commuting. I was so ready to get out of that.

 

[WVU Alum]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

As stbugs said, I guess it’s where you’ve come from. For me 77 south is a bear, as is hwy 150 and 73. the heat for me is bad, but any temp that starts with an 8 already has me uncomfortable.

For retirement, as mentioned above, you aren’t going to be commuting in bad spots. NC traffic is still a long way away from terrible traffic. I lived outside of DC for years and the traffic was relentless. Going to the mall on the weekend or going down 66 to go into the city Saturday night. It was way more than just commuting. I was so ready to get out of that.

You are spot on with DC traffic. I use the metro as much as possible to avoid any driving on or in the beltway even on a Saturday mid-morning

 

[steelerfan1]

I’m in the Lake Norman area of NC. I’m looking to get out in 5 years or so. The area has grown so fast with all the green areas now having apartments, town homes and homes thrown up. The roads can’t handle the growth and I 77 is a PITA. Plus summer is so humid

NC is one of the areas we wanted to visit as a possible retirement location. This description is making it less desirable. Still want to check it out sometime but I hate humidity and traffic with a passion.

As stbugs said, I guess it’s where you’ve come from. For me 77 south is a bear, as is hwy 150 and 73. the heat for me is bad, but any temp that starts with an 8 already has me uncomfortable.

For retirement, as mentioned above, you aren’t going to be commuting in bad spots. NC traffic is still a long way away from terrible traffic. I lived outside of DC for years and the traffic was relentless. Going to the mall on the weekend or going down 66 to go into the city Saturday night. It was way more than just commuting. I was so ready to get out of that.

I was from smaller towns in MA, so it really is what you’re used to I guess.

 

[Sand]

A few (ok, many) days like today and this thread will get real. Or at least realer.

 

[SFBayDuck]

A few (ok, many) days like today and this thread will get real. Or at least realer.

I think I'm in touch with that emotion

It's probably not healthy to be still working and listening to 10-20 hours of retirement-focused podcasts weekly.

 

[New Binky the Doormat]

A few (ok, many) days like today and this thread will get real. Or at least realer.

I think I'm in touch with that emotion

It's probably not healthy to be still working and listening to 10-20 hours of retirement-focused podcasts weekly.

have you started playing with FireCalc?

that can really take you down the rabbit hole

 

[SFBayDuck]

A few (ok, many) days like today and this thread will get real. Or at least realer.

I think I'm in touch with that emotion

It's probably not healthy to be still working and listening to 10-20 hours of retirement-focused podcasts weekly.

have you started playing with FireCalc?

that can really take you down the rabbit hole

Wait until you try portfoliovisualizer.

 

[Sand]

A few (ok, many) days like today and this thread will get real. Or at least realer.

I think I'm in touch with that emotion

It's probably not healthy to be still working and listening to 10-20 hours of retirement-focused podcasts weekly.

have you started playing with FireCalc?

that can really take you down the rabbit hole

Wait until you try portfoliovisualizer.

Retirement geek's paradise.

The hole you will never be able to climb out of - in 60 parts.

 

[Grahamburn]

Evidently only 4% of retirees are living the dream. Probably has more to do with not knowing what the dream is as most are comfortable or doing ok.

Not sure it’s going to matter for those under 40ish right now. Think the majority are going to be working until they drop.

This right here

Hopefully they started saving in their early 20’s?

 

[-OZ-]

A few (ok, many) days like today and this thread will get real. Or at least realer.

Is > 25% gain in the last year not enough for you?

 

[Grahamburn]

the very least stop accumulating

This is what the FIRE people call “CoastFI“. Get to a savings number that will, hypothetically, grow to your ultimate “number” at the age you want to retire, and stop saving. This lets you divert the money you had been saving to spending on experiences (or whatever).

Big benefit of this approach is that it allows you to spend more in earlier years on travel or other activities where you are presumably going to be healthier.

I'm reading "Die with Zero" right now, and while I don't agree with everything he proposes in the book there are some great nuggets. One of them is spending money on experiences earlier in life, as there are certain things you can do at younger ages that you won't be able to do later, and that applies from your 20s all the way up into your 50s-60s-70s, when we go through the go-go, slow-go, and finally no-go years. He also talks about the concept of compounding memory dividends - you get much more joy over your life from things you did earlier as you can think back on them fondly, tell stories, look at pictures, etc. For me that totally rings true, as there is a reason my college buddies and I still talk about so many of the same stories 30-35 years later.

I'd really love to be able to get the kids on their feet when they move out. Set them up for success and put them on a path to stay out of bad debt.

One of the other things he talks about is that if you are inclined to pass wealth to your kids, do so when it will have it's best utility or they can really enjoy the benefits. While getting a chunk of cash in your 50s-60s from an inheritance is obviously nice and all, for many it's probably not life changing. But how much more impactful would a much smaller amount have been had you been given it when you were 22 to take a dream vacation, to pay for college or pay off student loans, or at 30 to put toward a house?

I am 51 and my wife has really started to drive this home. We have done a great job saving for retirement (not enough for college though) and she has recently stated how we are "going to make our kids rich" and she's right. She wants to start doing more for us and I can't argue with it.

Youngest kid heads off to college in the fall and I think her & I are going to spend some inheritance.

Children shouldn’t expect an inheritance. If they get anything, great. They should consider it a bonus and be extremely grateful. I’m appalled at this recent thing going on online where these “kids” are getting upset when their retired parents are spending money. Go fly a kite is what I say.

While I totally agree on one hand, I actually hate how my FIL is spending his money in retirement. My MIL passed early and he received a large life insurance payout. FIL dropped 150k on a boat that he's used twice. Purchased an XBOX and no joke 50 games new just to have things for the grandkids to play when they go over. He doesn't play xbox.

So I agree, its his money to spend, but damn... like don't waste it.

At least you know you’ve got a nice boat coming your way when he ends up in a double murder road rage incident.

 

[Max Power]

the very least stop accumulating

This is what the FIRE people call “CoastFI“. Get to a savings number that will, hypothetically, grow to your ultimate “number” at the age you want to retire, and stop saving. This lets you divert the money you had been saving to spending on experiences (or whatever).

Big benefit of this approach is that it allows you to spend more in earlier years on travel or other activities where you are presumably going to be healthier.

I'm reading "Die with Zero" right now, and while I don't agree with everything he proposes in the book there are some great nuggets. One of them is spending money on experiences earlier in life, as there are certain things you can do at younger ages that you won't be able to do later, and that applies from your 20s all the way up into your 50s-60s-70s, when we go through the go-go, slow-go, and finally no-go years. He also talks about the concept of compounding memory dividends - you get much more joy over your life from things you did earlier as you can think back on them fondly, tell stories, look at pictures, etc. For me that totally rings true, as there is a reason my college buddies and I still talk about so many of the same stories 30-35 years later.

I'd really love to be able to get the kids on their feet when they move out. Set them up for success and put them on a path to stay out of bad debt.

One of the other things he talks about is that if you are inclined to pass wealth to your kids, do so when it will have it's best utility or they can really enjoy the benefits. While getting a chunk of cash in your 50s-60s from an inheritance is obviously nice and all, for many it's probably not life changing. But how much more impactful would a much smaller amount have been had you been given it when you were 22 to take a dream vacation, to pay for college or pay off student loans, or at 30 to put toward a house?

I am 51 and my wife has really started to drive this home. We have done a great job saving for retirement (not enough for college though) and she has recently stated how we are "going to make our kids rich" and she's right. She wants to start doing more for us and I can't argue with it.

Youngest kid heads off to college in the fall and I think her & I are going to spend some inheritance.

Children shouldn’t expect an inheritance. If they get anything, great. They should consider it a bonus and be extremely grateful. I’m appalled at this recent thing going on online where these “kids” are getting upset when their retired parents are spending money. Go fly a kite is what I say.

While I totally agree on one hand, I actually hate how my FIL is spending his money in retirement. My MIL passed early and he received a large life insurance payout. FIL dropped 150k on a boat that he's used twice. Purchased an XBOX and no joke 50 games new just to have things for the grandkids to play when they go over. He doesn't play xbox.

So I agree, its his money to spend, but damn... like don't waste it.

At least you know you’ve got a nice boat coming your way when he ends up in a double murder road rage incident.

I'd probably sell it. There might be evidence of some boat rage murders I want no part of either.

 

[Sand]

A few (ok, many) days like today and this thread will get real. Or at least realer.

Is > 25% gain in the last year not enough for you?

Sadly not quite enough to get me to lifetime FU monies. I'm getting close to being able to drop to part time, though.

 

[-OZ-]

A few (ok, many) days like today and this thread will get real. Or at least realer.

Is > 25% gain in the last year not enough for you?

Sadly not quite enough to get me to lifetime FU monies. I'm getting close to being able to drop to part time, though.

same, or at least not enough to make me want to retire any time soon. But if that kept up, it would be pretty sweet.

 

[IvanKaramazov]

A few (ok, many) days like today and this thread will get real. Or at least realer.

Is > 25% gain in the last year not enough for you?

Yeah, but unfortunately I still have a few years to go, which means there is still time for things to go sideways. As I approach retirement, I am starting to feel like the Press Your Luck contestant who has a winning total but still has a handful of spins they are forced to take. No whammies, no whammies . . .

 

[-OZ-]

A few (ok, many) days like today and this thread will get real. Or at least realer.

Is > 25% gain in the last year not enough for you?

Yeah, but unfortunately I still have a few years to go, which means there is still time for things to go sideways. As I approach retirement, I am starting to feel like the Press Your Luck contestant who has a winning total but still has a handful of spins they are forced to take. No whammies, no whammies . . .

Are you moving more into bonds?