How much do YOU think YOU need to retire? ...and at what age will you (and spouse) retire? (Part 1)

@BunsenBurner I guess I’d ask you a few things before I answer your question. Would the new house be some place you would stay past when you plan to retire? So, you see yourself working an additional 20 years? Would you actually be paying for the new house in cash/savings or using a mortgage where your capital would not be completely tied up and you could deduct mortgage interest?

But it depends on so much. How many years will you have to make the commute, and will you now have to work longer into retirenent? Are you going to have to drive back into your old area all the time now for visits and family? I’m usually all for not having to spend time in a car, but if you’re retiring in a few years and this is already the perfect house, maybe not. If it’s just money, than I say, spend the money.

Bus, we are thinking about parking our butts near the new Sound Transit Eastside rail corridor. That way, we can be a short light rail train ride from the city center without being in the city. Plus we plan to stay there as long as we can. I plan on working for at least 20 years if I stay healthy. It is a long-term plan! :slight_smile:

Go for it! Sounds like a good way to live more “green” with public transportation, too.

Yeah I’d go for it, too. Twenty years, nice area, much better commute, just a matter of where you put your money…I’d do it. I HATE moving, but at least you get to enjoy your investment in a house. And more free time.

A fringe benefit to moving is a good excuse to declutter before you get old. More posts for the Bag a week thread. :smiley:

@BunsenBurner, quite a bit. I used to have a long commute (I remember you do now).
I moved jobs, knowing that it would seriously impact my promotion potential, but I now have a less than 25 minute commute (most days), and sometimes a less than 10 minute commute. It is worth every penny of opportunity cost.
We also paid more for the house we moved to during this transition, but in our case we felt like it was a good deal, bc we sent our kids to public school in the new place, and would have paid for private in the old place.
That said, our house appears to be worth about 100K less than we paid for it 10 years ago.
Time is worth a LOT.

I heard from someone here that @dstark is fine, and has not been banned, but we don’t know if or when he will come back to cc.

Thanks for the info, @1214mom. Glad he is well which was my primary concern. His presence is missed and I hope he comes back to CC at some point.

That’s good to know dstark is doing well, 1214mom, thanks for sharing that! You always worry when you haven’t heard from people for some time. I hope he comes back, if only briefly to say hello and how he’s doing. I’m sure he would be highly entertained to know that when I argue politics with my family now, I sound like him. :open_mouth:

Glad you’ve come to the light side, @busdriver11. @dstark might think it’s worth coming back for that! :wink:

I agree with @doschicos, as I usually do.

Whatever dstark’s reasons for not posting, it is good to know things are okay.

God help me, doschicos. What is the world coming to? :smiley:

Craziness, which is what I think pushed you and your common sense to reason. :smiley:
Now, will we and our investments survive? :-SS

675 pages are a bit too much to read.
Especially knowing that when I hit my retirement age of 127…I will be long dead.
(I also understand this should have been mentioned/not too funny by post #9694)

Work commute time and the timing on property selling and purchasing are important decisions/factors. Good luck for those working these things out.

DH and I always enjoyed living close to work and other commute issues. We did buy one home which in hindsight we could have done something different (it was in a bad school district, which forced us to sell w/o doing more to the home as it was not going to appreciate in value - and we did eventually sell it but we lived in it longer than planned once we figured out what we needed to do). How bad was the school district? They closed the HS and built a new one elsewhere (this is a city that has magnet schools; two HSs are in the proper districts but those have a number of problems too). We now live in the school district that is the best of the four in our area.

Plan to get together with our financial guy again to tweak things and for me to be better informed on use of some of our assets.

@IxnayBob, I get it. If you’re rebalancing, that makes sense. I thought people were talking about over-weighting bonds.

I am 54 years old, and H is 56. Right now 60% of my retirement is in stocks. I can retire in less than 18 months, but will likely wait until 60 or 62. I’m debating about changing to only 40% stocks. Opinions of if that is too conservative?

@1214mom , ime, I find that even getting to 50/50 is not easy, and I’m usually hovering around 55/45. It depends in part on how substantial your non-equities are (e.g., what % of living expenses can be covered by pension, SS, home equity, etc). You need a certain % of equities to have real (i.e., > inflation) gains, but if it’s too high, you will have difficulty “staying the course” in a downturn. It’s very much individual psychology.

I personally went from 100% equities to 80/20 when I was in my 50s, to 60/40 early 60s to gliding toward 50/50 now that I’m over 65. My wife is 7 years younger, and longevity runs in her family more than mine. We are very conservative. We have enough without making great gains; we don’t want to risk unnecessarily. Pardon the hockey analogy, but if you’re up 2-1 near the end of the game, you don’t pull your goalie.

Here’s just one look at the stock/bonds ratio performance over a set period of time.

http://www.marketwatch.com/story/careful-you-might-be-risking-too-much-for-the-same-investment-return-2015-12-22

We just had our yearly wrap up with our Vanguard guy who as expected says stay the course. Their outlook is 50/50 mix will average around 4-5% over the next ten years.

The domestic and international environment is too crazy right now to take major chances with our retirement.