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Started By
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re: This Houston couple has $2.6 million and no idea where to retire
Posted on 5/15/21 at 5:38 pm to rickgrimes
Posted on 5/15/21 at 5:38 pm to rickgrimes
I’d move to Heber Springs, Arkansas or somewhere close by. Place is freaking gorgeous, the cost of living is cheap, as is land, only negative is it being touristy during the summer and Cleburne being a dry county.
0
Posted on 5/15/21 at 5:41 pm to Cosmo
quote:
Exactly
Not sure why im getting Downvoted im dead serious
The fact that every tom dick and harry won’t stfu about inflationacolypse makes me think we are heading for deflation.
Posted on 5/15/21 at 5:41 pm to rickgrimes
quote:
We have about $2.6 million in investible assets
Taxes are going to be a bitch
Posted on 5/15/21 at 5:58 pm to rickgrimes
Sarasota, Florida
Or
St Augustine, Florida
Is the correct answer.
Or
St Augustine, Florida
Is the correct answer.
Posted on 5/15/21 at 6:06 pm to rickgrimes
Greenville, SC is a great spot if they aren’t looking for a beach or mountain town but would like to be close to both. Great downtown & food scene with home values only increasing.
Posted on 5/15/21 at 6:16 pm to rickgrimes
Chiang Mai Thailand . There are about 40,000 expats there now and it’s got great people, weather, food, scenery and it is outrageously affordable.
Posted on 5/15/21 at 6:25 pm to Volvagia
quote:
50k pension annually plus nearly 6k/month from SS at full retirement age goes a long way to bridging the gap.
They could comfortably retire with zero savings.
Yep. 2.6M plus pension and SS means, lots of spendable cash on anything they want.
Posted on 5/15/21 at 6:30 pm to rickgrimes
Sounds like a perfect couple to experience the lovely “up and coming” St Claude area in Nola. I mean they have a Starbucks now.
Posted on 5/15/21 at 6:33 pm to kywildcatfanone
If near family/friends, just stay put. Houston’s airports let you travel anywhere in the world easily and the healthcare available is some of the best in the world.
Test out 4-5 Airbnb or Vrbo properties. Maybe one at the beach, one in the hill country, and one in a mountainous area. Get to know owners and then rent months from them outside of Airbnb/Vrbo. Get the good of all locations without pain of maintenance or risk of loss.
Test out 4-5 Airbnb or Vrbo properties. Maybe one at the beach, one in the hill country, and one in a mountainous area. Get to know owners and then rent months from them outside of Airbnb/Vrbo. Get the good of all locations without pain of maintenance or risk of loss.
Posted on 5/15/21 at 6:35 pm to rickgrimes
Portugal or Spain. Go to a non-packed town. Live the good life. That is my plan, but the north coast of Spain. I like that weather better
This post was edited on 5/15/21 at 6:36 pm
Posted on 5/15/21 at 6:36 pm to rickgrimes
$2.6 million is not a lot to retire wherever you want, but
make a big difference. That should cover and necessities they have and the investment income covers the rest
quote:
$46,000 in pension income
make a big difference. That should cover and necessities they have and the investment income covers the rest
Posted on 5/15/21 at 6:38 pm to Breauxsif
quote:
Very subtle, I’m a Doctor brag.
Doctors are not always as rich as you think. Late work start date, plus plenty of debt. My doctor is the same age as me and I’m retired.
Posted on 5/15/21 at 6:45 pm to Auburn80
If you don't have debt, you don't need 5 mil cash to retire.
I'm 46 and retired. No payments and have plenty of time and money. My wife still works and makes decent money as a nurse but she will be retiring within 5 years herself.
I'm 46 and retired. No payments and have plenty of time and money. My wife still works and makes decent money as a nurse but she will be retiring within 5 years herself.
This post was edited on 5/15/21 at 6:48 pm
Posted on 5/15/21 at 6:47 pm to El Segundo Guy
quote:
I'm 46 and retired. No payments and have plenty of time and money.
I'm jealous. But I assume you have a govt pension.
Posted on 5/15/21 at 6:48 pm to kywildcatfanone
quote:
Yep. 2.6M plus pension and SS means, lots of spendable cash on anything they want.
People thinking a 60 year old couple with 2.6M plus that pension and no debt “don’t have much” to retire on are terrible at math.
That’s close to 10k/month in the years before SS and 16k/month for the rest of their lives once that hits. That’s more than enough. Probably have like 4-5k per month to blow on whatever they want after necessities are taken care of.
Posted on 5/15/21 at 6:49 pm to kywildcatfanone
I am retired from the military. But while I was in I used money saved from deployments and I started 2 small businesses that I held on to for years that I sold a few years ago.
This post was edited on 5/15/21 at 6:50 pm
Posted on 5/15/21 at 6:49 pm to rickgrimes
NW Arkansas
Posted on 5/15/21 at 6:51 pm to Auburn80
quote:
Doctors are not always as rich as you think. Late work start date, plus plenty of debt. My doctor is the same age as me and I’m retired.
American doctors are the worst. They make the most horrendous investment decisions and their wives living the doctor life takes care of the rest. I have a 78 year old doctor that still works to pay bills while his wife spends $1k a month on dog grooming.
Posted on 5/15/21 at 7:44 pm to rickgrimes
quote:
Is Florida the right answer here? Or maybe Savannah, Georgia?
Right answer is Fairhope, AL. Lowest property taxes of anywhere and beautiful scenery and town.
Posted on 5/15/21 at 7:48 pm to baldona
quote:Except for the criteria they specifically said they are looking for: "nice scenery, more moderate weather and less traffic."
What’s wrong with Houston? Meets all their criteria.
This post was edited on 5/15/21 at 7:50 pm
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