Quote:
Originally Posted by justjim
There is one thing you can’t do. You can’t unring the bell. That said, there are many opportunities and options available to retirees who are drawing only social security.
You don’t need as much money as you might think to retire. I know some couples who live in The Villages and they draw their social security, work part-time jobs - (20-25 hours a week). There are many part time jobs here in The Villages. Working a part time job still gives you a lot of time to enjoy the many activities available here.
In addition, there are other retirement communities just outside The Villages where you can rent or purchase a comfortable house less than you can in The Villages. These communities have a lot of amenities and clubs you can get involved in.
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We sold our home in the Villages for a sizeable profit. We are now renting until we find a new location to build. Our social security checks cover the rent and utilities. We have not dug into our personal money for much. The money is sitting and collecting good interest. The home is not ours and we do not have to pay for upkeep and maintenance.
When you buy an investment home, you will need to make a down payment and pay for closing costs. Rentals in the Villages are furnished with golf carts. This will be more money out of your pocket. Property taxes will be higher because you cannot homestead. You will have to pay management fees, upkeep, and maintenance.
Here is my point: Look at ALL options: renting, buying, or purchasing for investment. Do a cost analysis for each. Your answer for an easier retirement will become obvious. Good Luck!