U.S. retirees try to keep cool...

U.S. retirees try to keep cool...

Notices

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Reply
 
Thread Tools Display Modes
  #61  
Old 03-13-2019, 12:04 PM
tcxr750 tcxr750 is offline
Senior Member
 
Join Date: May 2014
Location: Cleveland Suburb
Posts: 484
Default

Way back in 1999 I received sales pitches from a half dozen investment advisors with charts that showed my initial investment would grow at 8% per year until social security kicked in. The portfolio would be valued at $1,000,000 by then. Surprise! It never reached that valuation with the biggest hit during the Great Recession. Actually the best performance longer term was the 6 1/2% per year return for five years when my retirement money was in an American Skandia variable annuity. American Skandia was one of many investment scandals over the past twenty years.
I’m thinking the best chance at becoming a millionaire is buying a half million dollar starter home in California. Once the valuation reaches a million, cash out and retire to The Villages.
Reply With Quote

  #62  
Old 03-13-2019, 12:35 PM
manaboutown's Avatar
manaboutown manaboutown is online now
Sage
 
Join Date: Aug 2009
Location: NJ, NY, SC, PA, DC, MD, VA, NM, CA and ID, not necessarily in that order
Posts: 3,667
Default

Quote:
Originally Posted by tcxr750 View Post
I’m thinking the best chance at becoming a millionaire is buying a half million dollar starter home in California. Once the valuation reaches a million, cash out and retire to The Villages.
Buying and holding coastal residential real estate in SoCal has worked for me. The home I purchased there in 1996 is currently worth about five times what I paid for it in 1996. Although I have used it as a personal residence I could have rented it out and bought other properties I suppose.

The best story I have heard is about an Air Force Academy grad who as a first lieutenant back in the late 1960's - early 1970's was stationed at SAMSO (now known as SMC). He bought a home for about $40k, refinanced it the next year to buy another house to rent out as it was then worth $70K. He kept going in this manner until he owned 21 rental homes in the Torrance/Palos Verdes area. He retired after 12 years seeing no point in continuing to work anymore. Those homes today have to be worth at least $1.5M each. I don't know if he still owns them...
__________________
"No one is more hated than he who speaks the truth." Plato

Last edited by manaboutown; 03-14-2019 at 09:56 AM.
Reply With Quote
Sponsored Links
Reply

Tags
market, retirees, stocks, nest, eggs

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 08:10 PM.