<p>That’s my parents. They’re in their mid-90s, and two months ago we “cleaned” out their house to move them to assisted living. It was a friggin’ nightmare. They were “Depression Era” babies, and they saved every rubber band, every bank statement, every busted art project since the early 1900s. Moreover, my Dad was a “dumpster diver” who got the thrill of a lifetime by picking up and bringing home other people’s trash. The house was filled with it.</p>
<p>Yeah, he did that for 90+ years. You can imagine what the house looked like. Scary.</p>
<p>You can’t take it with you. The biggest gift you can give your kids is not to leave it for them to deal with.</p>
<p>On the bright side, they sold their house in one day. Good luck to you, edad! Looking forward to reading about your adventures. :)</p>
<p>I know what you’re talking about, missypie. My DH and DD are the packrats in our family. I am constantly getting rid of stuff and would love to be a minimalist. I have mentioned to DH and DD several times that it would be better to get rid of stuff as we go instead of DD being stuck with going through everything once we’re dead and gone. I believe it’s much harder to get rid of sentimental things, especially when the item in question belonged to someone who is deceased. As sentimental as some of those items are, I often wonder what I truly would miss if a tornado blew my house away tomorrow. I would miss family pictures and my grandmother’s china. We have a house that, IMO, is too large (2,600 sf) for just DH and me, but we are so very happy where we are. DD had lots of friends that spent lots of time here during her high school years, but we really don’t need the space now. I do not allow anything to be stored in the upper attic except for the Christmas wreaths that are hung on the windows each year. We do have a side attic that has a few pieces of unused furniture, lamps, Christmas decorations, gift wrap, a file cabinet, 3-4 boxes of memorabilia and luggage. My husband, an avid music lover, has thousands of CDs which we don’t even listen to anymore because we have so much music downloaded to our iPods, but he refuses to get rid of the CDs. I can live with that, at least for the time. When DD moves to her rental home with friends later this month, she and I plan to go through things and have a big garage sale. I swore a couple of year ago that I would never have another garage sale, but we made $1,000+ in our last one so I guess I’ll give it another whirl. Get to tossing, people, and let’s strive for the life that edad will soon be living! :)</p>
<p>A friend of mine retired a couple of times and did what you’re doing - they -
retired
sold the house
bought an RV
traveled around for about a year
looked for a less expensive desirable place to live than here, didn’t find one (the ‘less expensive’ part they found easily - just not the ‘desirable’ part relative to here)
came back here
sold the RV
bought a house
got a job and went back to work
… (and for a second time)
retired (again)
sold the house
bought an RV
traveled around for about a year
came back here
sold the RV
bought a house
but is still retired</p>
<p>Good luck to you - I hope you have a great time traveling this great country of ours - there’s a lot to see and experience.</p>
<p>Hugcheck, I have never paid much attention to financial planning and I could have done better with investments. I also attended a series of seminars at the local HS. It was not very helpful but we did follow through on the free financial analysis. That was less than helpful. We got back an 80 page report which included some serious errors. The analysis included my wife’s disability payments. Those will end when she reaches 65 and she will then get social security retirement. The analysis included the disability as a permanent amount. That report sat for a couple of years until I discovered the error. At that point the 401 investments had also greatly decreased so my retirement went from looking plausible to the red zone. About a year ago I started looking at retirement calculators. The better ones will allow you to try numerous scenarios. The big factors are the number of years you and/or your spouse will live and the rates of investment growth and inflation. Since there are so many unknowns, it seems that a simple rule works best. As you approach retirement age, you can afford to withdraw about 4% of your assets per year. That means that it takes a million in savings for $40k/year. That formula assumes you will live about 30 years and inflation will average about 3.5% with investment returns of about 5-6%. The $40k is not a consistent amount but will increase to cover the increased costs of compounding inflation. If you are managing your retirement funds, then you need to do an analysis on a periodic basis to decide how much you can spend. Annuities are also popular because they avoid this complexity and can provide insurance for an endless income stream. Of course they pay much less especially now that interest rates are very low. </p>
<p>I also spent a lot of time trying to predict expenses in retirement. I looked at cost of living factors for various parts of the country and tried to understand the source and reliability of those factors. Going from working (and paying tuition) to retirement in an RV just boggles the mind. I cannot make any reliable estimates of costs and our new standard of living. I think we are going to be fine but we are taking some risks that we may need to curtail our expenses, not to the point of eating dog food but maybe some foreign travel and other luxuries will not fit. I am also counting on social security and Medicare. In spite of some dire predictions I am not too concerned. The elderly voting block is growing in size and no politician can survive any serious proposed decreases in benefits.</p>
<p>That will be us. H loves to take things from other people’s trash. (We seriously still have some cans of Keystone Light beer in the fridge that some neighbor left on a curb in about 1999.) </p>
<p>The “simple life” folks say that we are burdened by “stuff” and I so agree. Every weekend I have this idea that I’m going to get some drawer or cabinet cleaned out…but I’m doing good just to have a place to put everything away. One day when H was away I went into the desk that had been his grandfather’s…I pitched hundreds of 3" pencils with no erasers probably dating from the 60s…probably real lead. What’s bugging me at the moment is luggage…it’s a chore to take it up and down from the shelf, because the shelf is crowded with the blue hard sided samsonite stuff…Tell me, for what trip are we ever going to say, “Hey, let’s leave the lightweight luggage with rollers at home and take the heavy hard sided suitcase instead?”</p>
<p>MOWC - did you actually give copies of monthly statements with account numbers and everything? That’s a tough pill for me to swallow in these “watch your identity” times. Why do they need exact info? Type of investment itemized should be enough, no?</p>
<p>And I must say, planning is fine and dandy but how do you all out there in CC land run your numbers? MOWC, what exactly did the planner do for you? What was your goal? Thanks again for this thread - so very timely. </p>
<p>I will add, Edad - when DH and I were young and hippyish and camping around the country we encountered a retired couple in a camper wandering the land. They were so happy. They were from Missouri and were thoroughly enjoying their adventures. They had twikles in their eyes and we were so grateful to sit in that camper and share some coffee and a bit of mentoring. I wish you sweet water and firm roads!</p>
<p>Cross posted with you, Edad. Thank you for the info - especially the story about your exp. with the guy after the class - 80 page report with a glaring error eegad, Edad! </p>
<p>I like the “you need a million to spend 40k a year” rule of thumb for general planning. When H started into this he started with the question how much do we need. I started with the answer how much do we have? My answer was we’ll spend what we have; his was we’ll work 'till we have what we need. Therein lies the rub, I guess. He is exhausted with work. I took time off to manage the household while the kids were in school (working part time, ditching the “career”). I have not had happy work experiences, so unlike MOWC cannot say I love (ever, lol) my job. But it may be time to face the music and wade back into the water. </p>
<p>That camper is sounding mighty good to me!!!</p>
<p>I don’t remember what all we turned over. H handled it since my job was a lot more demanding and I didn’t want to deal with any of it. I doubt he gave account numbers except maybe for things like insurance policies that they might need to evaluate. We’ve been with this same person for about 12 years and we haven’t been ripped off, so I guess it’s OK. She (and an associate) helped us figure out when we could retire and what we would need to have in terms of available funds when we did retire. Of course, circumstances change and we have update meetings (now by phone since we have moved out of that city) to figure out any changes in investments etc. This person advised me to take COBRA no matter what after one of my jobs ended which was great advice (as opposed to trying to get some other coverage). They help you figure out how much you can draw down and still have enough to last out your life.</p>
<p>missypie, that sounds bad, but I can assure you we were worse. My wife took over the master bedroom as her “studio” and we moved the bed into a smaller room. That was about 20 years ago. The studio was so full that it was unuseable and I was worried about the floor joists. The clutter infestation moved to the dining room and when the dining room table was covered with papers and junk it moved to another room. Fibromyalgia and migraines did not help the organization. </p>
<p>Lots has changed. Now most of the tables and bookcases that supported the studio clutter are gone along with most of the clutter. Same with the dining room. Not only is the clutter gone but so are the tables and chairs.</p>
<p>Ironic that we are moving into an RV. And not just any RV but a truck camper. That is a camper that fits on the bed of a pickup truck. Space and storage will be minimal. Plus we still have 2 old cats to accommodate. Yup, life can be full of adventure and changes.</p>
<p>Wow…just caught up with this thread. Very cool edad! I’m thinking that I would like this kind of plan too…but I’m too young and don’t have enough $ to be thinking about that right now. I’m like that person on the commercial who doesn’t have a number but keeps “blindly throwing money at it.” I think it’s time to do some better planning. And to de-clutter too. My office (which is at home) would be a good start. What a mess. </p>
<p>Well, if we can’t get our own forum for post college CCers with retirement dreams and plans, we can just start a never ending thread. Kind of like the diet/wellness/fitness. Lots of posts…going since January I think!</p>
<p>I used TIAA-CREF and an AARP calculator. Others seemed to have lots of hidden assumptions and are geared towards selling you on the idea of savings. What you want is a calculator that will allow you to input your exact soc security, pension, 401 and non qualified savings amounts, plus assumptions for inflation and investment growth. The rest is just math. As I said I quit bothering and will stick with the 4% rule for now. I decided to retire when I realized that I was not really going to amass much more in savings over a few years. My retirement picture was only going to get better because I was getting closer to death.</p>
<p>We got a 2005 Northstar igloo. If you want to see the details and floor plan just google northstar campers. We have a 135 watt solar panel with AGM batteries, 30 gallons of water, furnace, lights, hot water, 3 burner stove, microwave, TV, amplified antenna, DVD, and a cassette toilet that does not require finding a dump station. We also have a generator and A/C. The camper was pretty inexpensive. It is the truck that costs big time: 2010 Dodge Ram 2500 SLT,4x4, crew cab, diesel with airbags and soon Rancho shocks. People we know have no idea and can’t imagine living in a truck camper. We are calling it “The Condo.”</p>
<p>I am amazed at the interest in this thread. This thread may actually outscore the Palin thread. Never mind, I see the Bristol Palin thread has seen a spurt of activity over the last hour or so.</p>
<p>missypie, about the luggage - could you donate it to a women’s shelter or a Covenant House for teens or somewhere similar? I know that when we cleaned out my MIL’s house, the local Christian charity was so happy to get kitchen items for women who’d fled abuse situations with nothing.</p>
<p>Maybe if you could convince your H that there’s someone who could really use it, he’ll let go of the blue Samonsite!</p>
<p>Wow. You guys contemplating retirement – I envy you. I am a college prof and my union traded about our pension. In the past people retired at one half their salary. Boy, wouldn’t I like to do that right now!</p>
<p>Now all I have is a glorified IRA that lost $14,000 just this quarter alone!!! More than was put in fro the year.</p>
<p>I’m resigned to working until I’m 70. Luckily with the summers off, I do have time to recoup.</p>
<p>Health insurance won’t be a problem because we get lifetime health insurance.</p>
<p>Right now, I was able to put my daughter back on the health insurance, which is comprehensive, while she goes to law school.</p>
<p>I’m not sure about keeping the big house, though. My H is self employed, and keeping up the house seems more work than either of our jobs.</p>
<p>I am MUCH more interested in this, edad, than the Bristol Palin thread. Congrats…you sound like you have a great plan and are excited about embarking on your big trip. Reducing the clutter is terrific!! I look at all of our “stuff” and wonder why we got most of it and why we still have much of it. Good for you for biting the bullet.</p>
<p>I’m looking forward to the updates on your travel. Just start a thread here in the cafe and we’ll all check in, say hi, and read your updates. It sounds wonderful.</p>
<p>MOWC…we also use a financial/retirement planner and we give him a ton of our financial information to help us make plans financially for our retirement. Well worth the time and effort…he’s great.</p>
<p>Well, we just finished meeting with a realtor. Ugh! It seems that the house is worth even a bit less than our lower estimate. Second, the clutter is still an issue. We need to arrange for storage and start moving out some of the boxes that are already sorted and packed. We need a little masonry work, and a power wash, and we already knew, a bathroom vanity, countertop and sink needs to be done. It looks like another 3 or 4 weeks of work to get less money they we expected. Afterward we sat in the camper for a few minutes. One of these days…</p>
<p>This thread is fantastic, covers the very issues we’ve been mulling over.</p>
<p>edad, just make sure you really check into your house value before listing. I recall threads in the past about this. Some realtors undervalue so that the house sells in two minutes. No work on their part. When we were selling a house long ago, I took a look at the comps the realtor used in her proposal. A drive-by saved alot. One “comp” was a few hundred feet from a stone quarry. Another was a frame house in poor repair vs our brick, the third was right across the street from the town water tower. Check the comps and spend a few hours going to open houses, just to get a feel for what’s out there and how it’s priced.</p>
<p>I checked out the Northstar and the 2500 SLT - very very nice. Great idea.</p>
<p>And why South Dakota? There are other states with no income tax. Just curious. We’ve been considering some of the states around there.</p>
<p>edad- You sound really, really spent. I hope you and emom can take a break in the next few days.
We moved about 6yrs ago. We had spent a year building this house. I went at the last house like a num-nut for 6months before we went one the market. I painted every baseboard, door, replaced tile, stained floors, replaced carpet, everything according to THE LIST. THE LIST ruled all. If THE LIST said it was the weekend to mulch and prune, nothing was happening until the yard was done. We got rid of boxes, and boxes, and boxes. H got to the point where he was worried to leave the house because he’d find things at the curb when he got home. Every night he had a box to go through. No dinner until he went through his box. I’m not kidding. You could turn cartwheels in the storage by the time I was done. We did sell quickly. We felt wonderful making that move being so much lighter. We had just watched my in-laws ‘downsize’ to a four bedroom house because MIL wouldn’t get rid of anything! Now I see a box stack up in storage and my skin crawls! H’s just yells ‘Ugghh, no dinner!’. :)</p>
<p>You will be glad you made these last few changes you discussed with your realtor. Your house will show nicely, sell faster, and for a greater amount.
note: I agree with bonnie419 about checking the mls comps yourself.</p>