Retirement Plans

[mkd]

. I don't want to be carried out on the gurney at work. I need to figure out a passive income stream...rental properties or something along those lines to supplement my income some more.

Rental properties are anything but passive. If you value all the cost accurately, it's thought to best a good REIT. REIT ETFs don't seem to perform well, but picking individual stocks isn't that tough.

[champshire]

That is exactly what scares me about buying a rental. I don't want the phone call at 3 am when the heat goes out.

Wife and I have talked about buying our beach house in the OBX now and running it as an Air BNB. Let it pay for itself and then we have a place to stay every year on vacation. Problem is it's 750 miles away... Hard to be hands on when you're that far away.

I do not know anything about REITS, I will have to do some reading. I have a stock trading account with TD that I mess around with some. It's been a fun challenge to say the least.

[pmartin]

My wife and I have owned and operated a B&B for 20 years now along with my full time job and 5, now 6 house renovations in the same time frame. I am now semi-retired,(about 15hours on site and 17-ish at home programming)

Semi-retired means 7 days/per week but it's only hard work when I am doing the reno.

The B&B with 4 rooms grosses $650/night when fully booked. I like working from home and would love to drop the 15 hours on site.

[__]

I was thinking about doing the snowbird thing with cuba, aiming to retire at about 40

[pmartin]

I was thinking about doing the snowbird thing with cuba, aiming to retire at about 40

It's funny, I lived in Cuba probably long before you were born. I was 4 when we came back to 'Murrica cause Castro.

I wouldn't choose to live there or really anyplace further south than Massachusetts cause of the heat.

[__]

It's funny, I lived in Cuba probably long before you were born. I was 4 when we came back to 'Murrica cause Castro.

I wouldn't choose to live there or really anyplace further south than Massachusetts cause of the heat.

I like the heat, although the summer can be trying

[pmartin]

I like the heat, although the summer can be trying

Yup, trying to fry my ass!

[__]

Yup, trying to fry my ass!

youd do fine in november or october, quite a bit cheaper too,
ofc im aiming to head back much sooner than that

[jwillard@Kauffman]

I started saving much too late in life, and will probably never catch up.  At this point, my 401(k) contributions along with company match are 13%.  I've accumulated some, but it'll likely never be near the numbers most experts say I need to retire. 

I reached full SS retirement age last November, and drew my first check in December.  Most of that is also going into savings, with about 20% being set aside for household needs (that A/C ain't gonna last forever, etc.).  I'm resigned to the fact that I'll work as long as I'm able to put one foot in front of the other, and I'm fine with that.  I don't have hobbies, we don't travel much.  It is possible I'll get to a point where I can work part time and be fine with savings, 401(k) and SS.  A few good years with the stock market would be a big help.

My wife retired a few years ago from the state school system.  She was a bookkeeper/data manager at an elementary school.  Between her school retirement and SS, her net monthly pay is slightly higher than when she was working, so that's working out well.

[mkd]

Make sure you're in majority fixed income by 2035
 Nerding out on this video.

[Incogneeto]

Ecuador vs Puerto Rico; Chat GPT says:
https://chat.openai.com/share/21575f99-e39e-4bca-83e3-6f772baac964

Both are under threat of volcanic and earthquake interruptions.

Heck has Puerto Rico even restored Full power to the electrical system??

I love the Idea tho.. But would like a little more of a stretch between Emergency's.

[mkd]

Both are under threat of volcanic and earthquake interruptions.

Heck has Puerto Rico even restored Full power to the electrical system??

I love the Idea tho.. But would like a little more of a stretch between Emergency's.

At least hurricane 🌀 is not so much of an issue for the top of south America.
 I heard most of the drug shipping of Columbian snow goes out an Ecuador port.
 Geographic arbitrage for early(er) F.I.R.E.

[mkd]

https://www.investopedia.com/rule-of-55-5324286
 just discovered this.
don't roll over to an IRA, roll it over to your next employer. That way if you retire at 55, you dont pay the 10 percent penalty.