ArizonaLMCane said:
anyone on here "snowbirds" where they spend most of the year in the south and then the summers in the North?
how do you set that up?
It's a conundrum because financially it's better to buy a cute home near Gettysburg and be there during summers- but then who in the heck would want to airbnb it during the winters?
vice versa, to buy a home in Florida along the coast would be great to Airbnb..
but the cost of insurance from hurricanes, HOA fees, and maintenance and just the price of homes in florida is so much more expensive than in the north.
Enjoying one's wealth as one gets older
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Went to a December wedding in Harlingen a few years ago and stayed on Padre Island.LMCane said:
anyone on here "snowbirds" where they spend most of the year in the south and then the summers in the North?
Hotel was full of snowbirds. They had their hotel doors all decorated for Christmas. I guess they get a discount for an extended stay??
We haven't "qualified" for a Roth for a while now, but there are workarounds that will allow for it. Looks like you found them.
"But it is easier to purchase products that denote superiority than to be actually superior in economic achievement." - Thomas J. Stanley
FYI - There's a TexAgs poster named mfbarnes who will sell you some oceanfront property there.Marauder Blue 6 said:ArizonaLMCane said:
anyone on here "snowbirds" where they spend most of the year in the south and then the summers in the North?
how do you set that up?
It's a conundrum because financially it's better to buy a cute home near Gettysburg and be there during summers- but then who in the heck would want to airbnb it during the winters?
vice versa, to buy a home in Florida along the coast would be great to Airbnb..
but the cost of insurance from hurricanes, HOA fees, and maintenance and just the price of homes in florida is so much more expensive than in the north.
I live in Arizona and most of my friends are from North Dakota. Those that stay year round like I do can't stand the snowbirds, even the ones they've known for 50 years from when they lived there.
That's because it's a stupid ****ing idea.
Anyone with means is doing the exact opposite of your approach.
Anyone with means is doing the exact opposite of your approach.
Glad I wasn't the only one thinking that.
Diggity said:
That's because it's a stupid ****ing idea.
Anyone with means is doing the exact opposite of your approach.
That's not true. Medical tourism is certainly a thing.
Not denying it happens, but the folks that do so typically don't have other options. Didn't think this was a thread for Canadian pensioners.
Going to a third world country for my health care is not high on my list of goals for retirement.
and the idea of traveling there for checkups to "save money" is just silly.
Going to a third world country for my health care is not high on my list of goals for retirement.
and the idea of traveling there for checkups to "save money" is just silly.
Diggity said:
Not denying it happens, but the folks that do so typically don't have other options. Didn't think this was a thread for Canadian pensioners.
Going to a third world country for my health care is not high on my list of goals for retirement.
and the idea of traveling there for checkups to "save money" is just silly.
Golden Visa in Portugal on the other hand.
Don't mind if I do, Mr. Public Healthcare, unlimited EU access and dope beaches/wine.*
*The rules just changed. You can longer buy a property in Lisbon, AirBnb it for 5 years and only visit every other year. Bummer.
Its Texas Aggies, dammit
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Diggity said:
That's because it's a stupid ****ing idea.
Anyone with means is doing the exact opposite of your approach.
Given that I'll likely be down there at least half of the year in retirement, it makes perfect sense for me. The guy I mentioned above is in the same boat. Everybody's situation is different.
several posters had valid questions about your strategy, and you gave a flippant response. I gave my own flippant response.
Nobody had broached the subject of moving to Central America in this thread before you came along, so it's a pretty extreme assumption that their situation would be similar to yours.
My wife's family lives in South America. The folks with money aren't getting their major medical done down there if they can help it.
Nobody had broached the subject of moving to Central America in this thread before you came along, so it's a pretty extreme assumption that their situation would be similar to yours.
My wife's family lives in South America. The folks with money aren't getting their major medical done down there if they can help it.
Well, that's brand new information to this thread. Of course it makes sense for you, personally. You just totally changed the narrative.Its Texas Aggies, dammit said:Diggity said:
That's because it's a stupid ****ing idea.
Anyone with means is doing the exact opposite of your approach.
Given that I'll likely be down there at least half of the year in retirement, it makes perfect sense for me. The guy I mentioned above is in the same boat. Everybody's situation is different.
Your initial thoughts proposed this as a good idea for pre-retiree health care for the masses, which it clearly is not.
I'm glad you found a unique solution that works for you.
My question is what if something catastrophic happens in the US? - like a bad car wreck or something similar. I'm assuming in the described part time ex pat scenario there is no US health insurance...so do the foreign benefits/coverage help in that scenario (in the US)?
It could make sense to me if one went full ex pat and was living mostly permanently abroad. But that's not the situation described. It was a fly down a few times a year to go to the doctor scenario.
It could make sense to me if one went full ex pat and was living mostly permanently abroad. But that's not the situation described. It was a fly down a few times a year to go to the doctor scenario.
Even if I was living mostly abroad, if I got cancer I'd rather be somewhere like MD Anderson than a system in Central America.
100% - that's about the only place I'd want to be.
Yes I'm not sure this moving abroad thing applies to the majority of Ags. We live in this greatest country in the world. Unless you're one of those that says "if So and so wins the presidency, then I'm leaving the country."
This thread has derailed…….
AgOutsideAustin said:
This thread has derailed…….
Just proof that old people don't know how to enjoy their money.
When I think of great, high-quality surgical care, Guatemala is the first place that pops into my mind. Good luck with that.
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I said it was a partial solution. I did not say it was perfect for everyone. In addition, saying I don't have time to give a detailed primer and identifying a resource for more research is very different from implying someone is fu$k1ng stupid. Latin America is not monlithic. Different places suit different people. I did my research and drew my own conclusions.
For those who are genuinely interested, check out the Ex Pat files podcast and reports, which are by a guy who has been down there for 30 years. I've visited a dozen or so times and see it as a partial healthcare solution for me. There are multiple reasons why people engage in medical tourism. On average, you can get great care for about 20% of the cost in the US even if you pay out of pocket.
The above does not include the benefit of being able to live a great life for about $2-3k per month for a couple in a beautiful place with year-round springtime weather and easy access to the US.
For those who are genuinely interested, check out the Ex Pat files podcast and reports, which are by a guy who has been down there for 30 years. I've visited a dozen or so times and see it as a partial healthcare solution for me. There are multiple reasons why people engage in medical tourism. On average, you can get great care for about 20% of the cost in the US even if you pay out of pocket.
The above does not include the benefit of being able to live a great life for about $2-3k per month for a couple in a beautiful place with year-round springtime weather and easy access to the US.
I bleed maroon said:Well, that's brand new information to this thread. Of course it makes sense for you, personally. You just totally changed the narrative.Its Texas Aggies, dammit said:Diggity said:
That's because it's a stupid ****ing idea.
Anyone with means is doing the exact opposite of your approach.
Given that I'll likely be down there at least half of the year in retirement, it makes perfect sense for me. The guy I mentioned above is in the same boat. Everybody's situation is different.
Your initial thoughts proposed this as a good idea for pre-retiree health care for the masses, which it clearly is not.
I'm glad you found a unique solution that works for you.
Quote:
My question is what if something catastrophic happens in the US? - like a bad car wreck or something similar. I'm assuming in the described part time ex pat scenario there is no US health insurance...so do the foreign benefits/coverage help in that scenario (in the US)?
It could make sense to me if one went full ex pat and was living mostly permanently abroad. But that's not the situation described. It was a fly down a few times a year to go to the doctor scenario.
makes perfect sense, 50% of his living in Guatemala, also being the more likely place a medical catastrophe would occur, classic 80/20 rule- 80% of the problem covered by 20% of the cost
I was enjoying reading this thread because it is relevant to where I am in my life at this moment. Total derail now…..
Me too. I'm almost there, but not quite…
I have never lived an extravagant lifestyle so I was able to indulge my wants with few exceptions. In retirement I've learned it's important to keep 2 lists. Wants and needs. Most on here probably have much more than I so this may not apply but if it does apply to you recognize it before your last work day.
Pacifico said:
Interesting thread. I don't have to work anymore but I don't want to retire either. I'm 53. All my friends still work and will continue to do so well into their 60s I guess. I don't want that. I'm obsessed with time. Not sure why. I don't have a bucket list as I have been everywhere I have wanted to go on the company nickel over the past 30 years. I don't hate my job but I just think I would be happier using my time in a different way. Pre-retirement planning is the way if you want to get out early.
Please Tell me more about pre-retirement planning
Having started saving at the beginning of my career, it helps me to think about my spending/saving as part of the future value of my money with compounding
Every 10 years the retirement value of my contribution is roughly half, meaning at a certain point, the compounding is doing the work and I can use my previous savings contribution to enjoy life more.
Ex, $1,000 saved at 25 is roughly $15,000 at 65 (7% assumed rate for these numbers)
$1,000 saved at 35 is roughly $7,500 at 65
$1,000 saved at 45 is roughly $3,800 at 65
$1,000 saved at 55 is roughly $1,900 at 65
I'm sitting in that point at 40 where if I continue to contribute at the same rates, I should hit my Retirement numbers at ~51. (51 isn't exactly a goal, but will be a moving target depending on real returns/spending/inflations/etc going forward)
I could also cut my contributions down to just 401k company match only at 5% (Not going to leave that on the table as long as I work for a company) and only push my retirement out to ~54 with the same assumptions
We've lived plenty in the interim, but we started saving early so things just now mainly need to time to compound.
We basically now just have more wiggle room in our spending, especially to be more guilt free in spending, and have some fun with our kids. I can't quit yet, but this comfort opens up avenues that we can pivot on if we want to, take some risks if we want.
Every 10 years the retirement value of my contribution is roughly half, meaning at a certain point, the compounding is doing the work and I can use my previous savings contribution to enjoy life more.
Ex, $1,000 saved at 25 is roughly $15,000 at 65 (7% assumed rate for these numbers)
$1,000 saved at 35 is roughly $7,500 at 65
$1,000 saved at 45 is roughly $3,800 at 65
$1,000 saved at 55 is roughly $1,900 at 65
I'm sitting in that point at 40 where if I continue to contribute at the same rates, I should hit my Retirement numbers at ~51. (51 isn't exactly a goal, but will be a moving target depending on real returns/spending/inflations/etc going forward)
I could also cut my contributions down to just 401k company match only at 5% (Not going to leave that on the table as long as I work for a company) and only push my retirement out to ~54 with the same assumptions
We've lived plenty in the interim, but we started saving early so things just now mainly need to time to compound.
We basically now just have more wiggle room in our spending, especially to be more guilt free in spending, and have some fun with our kids. I can't quit yet, but this comfort opens up avenues that we can pivot on if we want to, take some risks if we want.
Things to do though when retired
Gonna save this video for when people ask me what I plan on doing after I retire.pic.twitter.com/2pxY8LxvQx
— Defiant L’s (@DefiantLs) September 24, 2024
Perhaps these young men from China are paid by the Commies to make funny videos to distract Americans & make us unproductive.
Or maybe Chinese dudes are idiots when you give them enough free time, just like we are.
Good stuff.
Or maybe Chinese dudes are idiots when you give them enough free time, just like we are.
Good stuff.
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50's. I don't think I will ever retire in the sense of not doing some type of "work" - I enjoy it: legal work, active in real estate - continue to broker, no pressure construction - possibly with one of my kids who will be getting into real estate/construction, investing, etc. I will slow down from my normal pace. I am very active and snow ski (still enjoy black diamonds even after 2 ACL repairs-that will change in the next few years), surfing, tennis, golf, poker with friends! I plan on continuing all of those as long as possible. Me/Wife and family travel regularly each year - at least one big 10-12 day international trip, one 8-10 day trip to Costa Rica, and usually a Big Cedar Branson, NYC, or Vail/Breck as well. I could see getting my businesses set up to where me and my wife could spend extended time in Costa Rica or Vail/Breck (month or two at a time).and go on a mission trip every year. I would also consider coaching youth sports teams again as I had an absolute blast with my kids. We are planning on leaving the bulk of what we have to our kids, even though we think we have given them plenty at this point with all of them having already graduated from A&M or about to graduate from A&M - debt free. God has blessed us and we plan to find ways to bless others as well. Heading to Vegas tomorrow with my wife. It will be the first time for both of us. Neat to hear all the different ideas and how successful many on this board have been. Gig "Em
I find this interesting: Get financially able to go anyplace and have anything you need or want. There is a good chance that you will not want to go anywhere and do not need or want anything; contentment with where you are and what you have becomes a mindset. I know someone like that.
What do you find interesting about my post? Is there something in my post that shows a lack of contentment?
It sounds like a lot of you are only working for the money. As soon as you save enough, you retire.
I'm taking a different approach. I enjoy being productive and hear that most men that retire early get bored and find a job of some kind within 1-2 years. I'm not saying I kill myself working. I strive to be in roles that I am suited for, that I enjoy, and with good people. Not roles that leave me drained. So I don't long for retirement. And I feel a reduced burden to save tons of money toward a complete cutover to a life of leisure. This allows me to enjoy life more now.
It's crazy to plan to work 45 years to save up a nestegg that you can live on for 25 years. It's a huge burden. Find the alternative.
I'm taking a different approach. I enjoy being productive and hear that most men that retire early get bored and find a job of some kind within 1-2 years. I'm not saying I kill myself working. I strive to be in roles that I am suited for, that I enjoy, and with good people. Not roles that leave me drained. So I don't long for retirement. And I feel a reduced burden to save tons of money toward a complete cutover to a life of leisure. This allows me to enjoy life more now.
It's crazy to plan to work 45 years to save up a nestegg that you can live on for 25 years. It's a huge burden. Find the alternative.
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