Is the grass greener? Retirement, what does it really mean?

Kraut_n_Rice said:
For you retired fellas, who still has a mortgage on your primary residance?

My very short term go is to pay off the house.  Actual "retirement" is a long way off...
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I would like to get my house paid off before retiring again and have some "ideas" to make that happen but dammit if things I want don't keep popping up... :lol:

We bought this house a little over 3 years ago.  My interest rate is 2.25%.  Other than just not having to make the monthly payment, paying it off early is not a "huge" savings.  I am also on a pension retirement with COLA increases every year, along with VA compensation with COLA.  My situation is probably much different than most here.

 
EmpirE231 said:
retirement used to be the time to slow things down, and live a simple / low expense life.  Enjoy your garden... maybe take a cruise once in a while.

I guess if I do it that way, retirement is a possibility.... but to my own demise, I think about one or two 1K+ HP Buggies, stacker, tag axle etc ..... money to fuel, and maintain all that.......not to mention all the other projects, activities and trips when we're not at the dunes. needless to say I will not be retiring any time soon. 
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This is the challenge, figuring out how to do both, and lots more!. 

 
I am punching out September 2024. I am a bit older than yous guys, 61, but still feel early 30's. Mama gonna work at least 4 more years, but we are almost debt free, and she works remotely(Starlink gets fired up this weekend, we can be anywhere!). We have our house in Apple valley set up exactly how we want it, so that would be hard to walk away from. My SS(even retiring at 62) will cover our monthly nut, so the rest is gravy. 

We plan on travelling a lot, around the US. We have been to England, Scotland, Ireland, Iceland, and contenetal Europe, so we don't have a huge desire to travel overseas for a long while. Maybe Italy. I wuld like to play at flipping cars, but not play hard. Just Civics and Camrys, clean em up, put fresh plates on em, and sell them.  we plan on Snowbirding it for awhile, and if we find a place we absolutely love....

 
Great topic and happy to see people doing well. We are 58ish and Stef is retired collecting here pension but no SS yet. Our goal is to not go past 62 but would like to go by 60. To go early would require us to get creative. LOL. What I dont like is we probably cant move out of California now. The idea of selling and buying something cheaper some where else really does not apply anymore. I could sell our house, buy drastically cheaper with a large down payment and my monthly payment would still be higher. Current loan is sub 3% as well as our motorhome and Jeep. We are focused on everything other than the house must be payed off but with such low interest rates there really is not much of a hurry. Obviously when you put everything down on paper it looks good but I know it will not be that easy. Lately I have been thinking about the equity in the house. We do not plan to leave much behind but what is the best way to take advantage of it? 

 
I have Two (2) Financial NAZI's. They're extremely smart when it comes to money. Good Debt vs Bad Debt. Good Debt you can get out from under if needed. Bad Debt. NO! Owning a house with equity-Good Debt. Paying on a $500k Motorhome / Trailer-Bad Debt. I've always tried to purchase Good Debt. Seems to be easier sleeping at night. Peace

 
ChEFF said:
I have Two (2) Financial NAZI's. They're extremely smart when it comes to money. Good Debt vs Bad Debt. Good Debt you can get out from under if needed. Bad Debt. NO! Owning a house with equity-Good Debt. Paying on a $500k Motorhome / Trailer-Bad Debt. I've always tried to purchase Good Debt. Seems to be easier sleeping at night. Peace
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Lots of people end up leaving lots of money on the table when they go. Never get to do what they wanted to do......

 
This topic is awesome, but please do not retire without having your trust all set up, actually if you are over 40 years old, you should make sure your trust is all set up and current.  

 
EmpirE231 said:
retirement used to be the time to slow things down, and live a simple / low expense life.  Enjoy your garden... maybe take a cruise once in a while.

I guess if I do it that way, retirement is a possibility.... but to my own demise, I think about one or two 1K+ HP Buggies, stacker, tag axle etc ..... money to fuel, and maintain all that.......not to mention all the other projects, activities and trips when we're not at the dunes. needless to say I will not be retiring any time soon. 
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That lifestyle will take high 7 / low 8 figures IMO (-=

Any of you guys buy homes simply to offset hyperinflation? Im considering buying to entice the kids up and to hedge against inflation. Don't really want to rent it out but over time homes tend to creep up $. I am SUPER conservative, almost to a fault, I feel dumb after this last month or so but a little smarter when the market dips (-= 

 
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It truly warms my heart reading this thread and seeing everyones plan.. MY wish for you all is that your plan comes true

 
ChEFF said:
If you're on this web-site regularly like most of us, you're a Duner. The Expense it takes to participate in our world is High. Factor in this obsession and, how can you retire? Unless you invented toilet paper, you'll need a job. Unless your Dad invented the machine that makes Cheetos, you'll need a job. Unless you're the heir to the throne, you'll need a job. OR...............find a less expensive (cheaper) hobbie. And if you are looking for that less expensive Hobby......It is not Golf! Peace 
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Dancing for the ladies pays great tips and all tax free!!! 🤷 

 
SandTrap said:
It truly warms my heart reading this thread and seeing everyones plan.. MY wish for you all is that your plan comes true
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You can make it happen. At times you may have to make adjustments. Been retired for 24 years now, seems to only get better.

 
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