[The-Shoveler]

Then on the other side.
GM, Ford, And Others Want to Make Working on Your Own Car Illegal

https://www.yahoo.com/autos/s/gm-ford-others-want-working-own-car-illegal-160000229.html

[The-Shoveler]

So does that mean that next year it is 1986?

If so I will keep my old truck and maybe fix it up LOL.

7 more years…

[The-Shoveler]

I have seen more than one family go BK while building their dream home.

It’s easy to hire the wrong contractor and you have to (or you have to have someone) watch the crews like a hawk.

you really need to be able to trust the people you hire, good luck.

[The-Shoveler]

Unless your going to be your own contractor, from what I have seen it can be quite a bit more expensive to build than buy an existing home (unless your going to do something really simple like a prefab).

Which seem unlikely in your case.

Building a custom home, the expenses can quickly go through the roof (you have to be a tough boss or hire someone who is and you can trust) (else the sky is the limit…)

[The-Shoveler]

My Mothers retirement community has a nice Golf course,

Costs 8k in HOA transfer fee’s

She has not used it once in the 20 or so years she has been there.

Looks nice though.

A lot of people buy in that community just to play Golf whenever they want to.

[The-Shoveler]

Dang I wish someone had done that for me LOL.

[The-Shoveler]

[quote=AN][quote=flu]cool. This time it’s different though. This time i’ll have more than 1 property i can sell.[/quote]
+1. Depends on how high it goes before it crash. I might just keep them and add more at the bottom. We’ll see.[/quote]

If your going to sell and be done with a property I think that is fine. But IMO it is very unlikely we would see the kind of decline that would make it worth it to sell and try to buy again just for the profit.

That was a once in a life time (thank goodness).

anyway IMO.

[The-Shoveler]

My Mother has “SCAN” seems pretty good.

I think this Crisis is way overblown anyway my two cents.

I don’t think the previous generations situation was any better.

[The-Shoveler]

Baby Boomers Better Prepared for Retirement than Previous Generations
https://www.debt.org/2012/12/11/boomers-better-prepared-for-retirement-than-previous-generations/

That retirement crisis? Not so bad, after all

http://www.reuters.com/article/2013/12/04/us-column-sternadvice-retire-idUSBRE9B30HL20131204

[The-Shoveler]

IMO the retirement crisis is one of the most over hyped and untrue media hypes that has been occurring,

The Boomers are the most well prepared generation for retirement that there has ever been.

The the generation behind them will far exceed the boomers.

We’re On The Verge Of The Greatest Transfer Of Wealth In The History Of The World

The great transfer will see a handover of about $12 trillion from those born in 1920s and 30s to the boomers. But the boomers are expected to transfer some $30 trillion in assets to their heirs over the next 30-40 years in just the U.S.,

Read more: http://www.businessinsider.com/biggest-transfer-of-wealth-in-history-2014-6#ixzz3XfmwKOYH

http://www.businessinsider.com/biggest-transfer-of-wealth-in-history-2014-6

[The-Shoveler]

My main point is it is not a disaster if you don’t have a million saved for retirement.

My mother retired at 65, takes bus trips a few times a year (they sponsor them at her senior community), as well as the Hawaii trip.

The bus trips are very cheap (few hundred dollars for several day trip).

Yep I guess you can’t spend big, but from what I have seen most don’t anyway (maybe a few do), me I think I could be happy just walking on the beach a few times a week.

To each their own.

Once you hit 75-80 it is very very unlikely your going to be riding off road motorcycles etc…

[The-Shoveler]

I think you need to factor other things (do you own a economical car and can you make basic car and home repairs etc.._).

I don’t think you need to own a high maintenance BMW etc.. (in fact most people really don’t know how to handle a Boat/plane or high performance car etc.. to begin with).

You can get by with say up to a 5K property tax bill easy with around 3K SS or pension coming in (I see people do it all the time).

I even know one lady who takes one trip a year to Hawaii on less than 2K SS coming in a month. (tax bill and HOA on her condo is around 3.5K).
She has quite a bit less than 200K saved.
Playing on the internet all day is free (well almost).
And there are lots of ride share and senior discounts,
You can live fairly well surprisingly with a little effort.
Also she could play Golf everyday if she wanted to (Nice course actually from the looks of it)

[The-Shoveler]

IMO as long as your home is paid off (with a low prop 13 tax base) (not one of those homes with a 15-20k MR and tax bill)

I think you could easily make it on a lot less than a million in the bank (retirement).

I think people are being push to take high risk when there is no real need IMO.

200 – 500K should be enough to live really well (with a paid off home and low tax base)(SS and/or pension included of course).

[The-Shoveler]

1 out of 25

http://www.joshuakennon.com/1-out-of-every-25-households-millionaire-united-states/

Probably a lot higher in SD county.

5. San Diego County, California: The fifth county in the U.S. and the 3rd in the State with the most number of millionaire households, San Diego has 102,138 millionaire households that make up 9 % of such households in California. It also accounts for 1 % of the total millionaire households in the country.

http://www.streetdirectory.com/travel_guide/73297/real_estate/top_10_us_counties_with_the_most_millionaires.html

[The-Shoveler]

[quote=AN] Any 7 figures net worth out there as a W2-er?[/quote]

Actually I think it is probably quite common in older Coastal SD for home owner to have 7 figure net worth (and not really make that much on the W2 income).

If they inherited the home they live in or bought it say in the late 80’s etc…, the the home could easily be worth 7 figures but they make say 70-100k on W2

Stuff like that happens all the time I am fairly sure.

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