What would u do?

What would u do?

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  #51  
Old Today, 07:55 AM
david14221 david14221 is offline
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Join Date: Aug 2014
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Buy a 3 br house. 30 yr mortgage. Come here 4 months...sept thru dec. Rent it out jan thru april. Do that until you collect social security and/or can get to ira or 401k money at 59.5...assuming you have that investment. Depending on mortgage rates, can refi to 15 year mortgage or add a few hundred each month to payment to cut down the number of years left on mortgage.

For better responsed, we really need more info.
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  #52  
Old Today, 07:56 AM
mikeritz53 mikeritz53 is offline
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Join Date: Aug 2014
Location: Woodbury
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Look into a Reverse Mortgage to Purchase. All you pay are closing costs and you can keep your money in your Investments. With the Reverse Mortgage you have no Monthly Mortgage Payment (still have R.E. Taxes and Homeowners). This allows your monthly income to go a lot father and you still have all your 401k as a cushion.
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  #53  
Old Today, 08:55 AM
MEbner2805 MEbner2805 is online now
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Join Date: Nov 2017
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Buy a reasonable 3br house for under 360 and pay cash and save money for unsuspected medical issues as you will need it in time. You will want money to travel as well. Most don’t need a huge home to be happy here.
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  #54  
Old Today, 08:55 AM
Chuck1674 Chuck1674 is online now
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Join Date: Feb 2018
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No cola at the moment but they are working on getting it back. Cost of living adjustment.
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  #55  
Old Today, 08:57 AM
Don&Judy Don&Judy is online now
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Join Date: May 2013
Location: Arkansas
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Get a mid-size home with a small mortgage. There's no reason to have a large house here. It's a waste of money. And no, the kids and grandkids don't visit as often as we expected. They're busy and live far away.
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  #56  
Old Today, 08:59 AM
Chuck1674 Chuck1674 is online now
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Join Date: Feb 2018
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Quote:
Originally Posted by TNGary View Post
Chuck, if you work at the current job you will accrue years toward your pension and since divorce is over you would not have to give you X any share of that amount, plus being at the top years of earning the math adds up quickly. Your thoughts??
No pension is already split. But the longer I work, her share goes down, but I am not vindictive. Some guys stay until 65 to spite the ex, just want to be free. Alimony stops when I retire.
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  #57  
Old Today, 09:06 AM
lindaelane lindaelane is online now
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Join Date: Jul 2017
Posts: 19
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Does your pension have a COLA? (few do) If not, keep in mind that if you are 65 now, at age 83 with 2.2 % (conservative estimate) inflation you will need $7,500 to buy with $5,000 buys today.

Do you know someone who is good with spreadsheets, or can you make a spreadsheet? Its not that hard (if the know how is there) to make a sheet projecting your annual income and assets into the future. It won't be a "perfeft predictor" but you can input things like what you think inflation will be, and what you think your investments will average to see where you may be.
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  #58  
Old Today, 09:08 AM
Chuck1674 Chuck1674 is online now
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Join Date: Feb 2018
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Quote:
Originally Posted by Nucky View Post
Get ready to protect your nest egg cause if you ever revealed your situation in person your Dance card would be full! Your gonna be great either way you go. Get ready to have a nice life again after the pain you've been thru or caused. A new fresh start. A new chapter, a fresh canvas. Don't screw it up trying to flash $$$ cause nobody down here cares. Good Luck.

Go with Modest, it's so much easier. We are gonna bump it up a notch in a couple of years but only a little bit. No Stressing over $$ Monies $$
Yes I am not flashy. I bought a 100k fixer upper to keep kids in their school system. Not they are finishing college and its time to move on. Looking forward to the fresh canvas. Plus I am a softball junkie. I will also enjoy playing more golf. Thanks all.
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  #59  
Old Today, 09:09 AM
Chuck1674 Chuck1674 is online now
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Join Date: Feb 2018
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Quote:
Originally Posted by Villageswimmer View Post
+1. You’ll sleep better at night without debt. Good luck in making your choice.
Yes I agree, just wish the PVs came with the big garage.
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