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Thread: OT retirement

  1. #41
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    Quote Originally Posted by Limy Sami View Post
    Take a tip - start preparing (as in saving etc etc) for it, apart from pensdions and the like - any spare cash (yeah I know it's a joke - and a sick one) but any cash or shall we say ''valuables'' you have no immediate call on - stash, ...............in lots of different places!!!
    Hey youre not wrong, I started contributing $75/month into a separate retirement account from my pension for this exact reason. Sure it isn't much but it ain't nothing. Have a small IRA that needs a little love as well.

    Unfortunately it is just too hard to save for retirement with my huge avocado toast eating habit...

  2. #42
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    Quote Originally Posted by Trueturning View Post
    I think it could be the case that retirement is there and adjustments need to be made to cover expenses. In regard to having for example equity in a home it can be the case that someone may need to capture the equity by selling the home and most likely will switch to a apartment rather than begin with a new home. Apartments even now are reasonable in many cases unless they require income of three times the rent to qualify like so many places. Someone on SS retirement income is not likely able to pull that off so even getting a apartment now a days can be tough unless more than one person shares it. Little storage space for even minimal things kept from life is extremely limited. They also could be renting out the house to keep making the payments and also to have extra money. Usually if you talk to someone and they will tell you about why it can make sense given their situation.
    My apartment won't consider tenants unless they have a good credit rating and at least 3x income. It isn't a super luxury place but not ultra cheap either. ANd I assume someone who is retired doesn't want to live in a shit hole.

    However, wouldn't retirement earnings count as income in that case? I guess you'd need to show you have some solid income coming in.

    Ideally in retirement you own your home and it is paid off so you don't need much money coming in. Theoretically. I can't even get into a starter home at the moment so god knows what itll be.

  3. #43
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    Ha ...smashed avocado.....the PMs standard response to the cry of the millenial...."You would all have houses ,if only you could do without $10 latte s,and smashed avocado in the morning."......to which I add " and $100 a month for streamed internet movies and another $100 a month for phone rental and charges"....to which the millenials all cry ,"Nooooo we must have our lattes made by a barista,and if we try to minimize data costs ,all our friends will think we might be dead."

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  5. #44
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    Meanwhile an old three room house on 200m2 tiny block of land sells for $850,000 ,a $100,000 increase over the asking price in what a real estate agent says is "The most astounding thing Ive seen in twenty years in the business."

  6. #45
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    Congratulations Dave.
    What you gonna do first??
    I'm 5 months behind you.
    Jeff

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    Get my home shop (metal and wood) better organized and finish the house remodel I started 3 years ago. Yeah, I'm a little slow. Going fishing tomorrow and it doesn't matter if I catch anything.

    If I ever get the shop presentable I'll post pictures.

    Dave

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