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Old 09-08-2010, 02:21 AM
 
239 posts, read 455,969 times
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Quote:
Originally Posted by newenglandgirl View Post
Isabella, I don't know how old you are, but if you're near retirement or retired it is a different kettle of fish than if you are still working. Anyone who has a job right now may be foolish to leave where they are for any reason. If a job is not in the picture (not needed), and you are "older," there are many many considerations to moving far away, esp if you are part of a couple and so there's TWO of you and all the separate wants and needs that presents.

If you are moving to a seriously cheaper place to live, it may well be worth it (complication: selling a house first ). If, in moving, you're gaining something really substantial (closer to family, better financial scene), it may be worth making the move at any cost. Or, it's worth it if the new location genuinely brings you personal happiness (near a beach, mountains, state parks, whatever).

What I found is that in doing my spreadsheet analysis of a half dozen targeted locations, where I am now showed the highest points. So that's logical investigation. But even after these results are in, your heart may play into it and draw you somewhere else anyway, defying logic. And that's valid. but for me, living on a shoestring, I can't afford to follow my heart. I have to be d#$% practical!

So, you either base your decision to move on investigative logistics, or on your heart, and sometimes these two ways coincide as they ahve for some folks on this thread who have made the right move. You will make a decision or it will be made for you! (Life has a way of doing that!)
Newenglandgirl, you hit on some good points and some things we're dealing with such as needing to sell a house in order to leave where we are now. I'm 58 and was laid off almost three years ago. I've been retired since then although it's partially because there's no work where we live. Also, I was pretty burnt out from high-pressure megacorp job and after getting over the initial shock of the lay off I was actually relieved to be out of there.

My husband is disabled and we've been living off of unemployment, severance pay, and rainy day savings for the past three years, but that's running low now and we're facing a ten month gap with no income until when I can start drawing from my IRA penalty free when I'm 59 1/2. Luckily, I had enough years in to get retirement medical benefits, so we don't have to worry about that.

So, that's some background on our situation. If I make a decision with my heart then I'll end up by the Pacific ocean in California. It's what is most familiar to me and will give me more of the Five F's than any other place. The one F that could possibly make the decision for us would be finances. We live very simply, but the high COL in that area may be a show stopper. It all depends on what we can get for our house here and if we can find an affordable mobile home there (that's all we could possibly afford in that area).

You made a good point in one of your posts about costs in different areas and how the cost of water and sewer in a place you were considering was very high compared to where you are now. I would hate to move to a place with a perceived low COL only to find out that it actually all evens out and we would have been happier in a place like California. Just one of the things that makes us want to go with a known. Oh well, like you said sometimes the decision is made for you. We'll have to wait and see if we can sell our house and go from there.

 
Old 09-08-2010, 06:22 AM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by isabella20 View Post
Newenglandgirl, you hit on some good points and some things we're dealing with such as needing to sell a house in order to leave where we are now. I'm 58 and was laid off almost three years ago. I've been retired since then although it's partially because there's no work where we live. Also, I was pretty burnt out from high-pressure megacorp job and after getting over the initial shock of the lay off I was actually relieved to be out of there.

My husband is disabled and we've been living off of unemployment, severance pay, and rainy day savings for the past three years, but that's running low now and we're facing a ten month gap with no income until when I can start drawing from my IRA penalty free when I'm 59 1/2. Luckily, I had enough years in to get retirement medical benefits, so we don't have to worry about that.

So, that's some background on our situation. If I make a decision with my heart then I'll end up by the Pacific ocean in California. It's what is most familiar to me and will give me more of the Five F's than any other place. The one F that could possibly make the decision for us would be finances. We live very simply, but the high COL in that area may be a show stopper. It all depends on what we can get for our house here and if we can find an affordable mobile home there (that's all we could possibly afford in that area).

You made a good point in one of your posts about costs in different areas and how the cost of water and sewer in a place you were considering was very high compared to where you are now. I would hate to move to a place with a perceived low COL only to find out that it actually all evens out and we would have been happier in a place like California. Just one of the things that makes us want to go with a known. Oh well, like you said sometimes the decision is made for you. We'll have to wait and see if we can sell our house and go from there.
Wisteria (founder of this Women Retiring Alone thread) has found an affordable mobile home community right on the ocean somewhere in Monterey area. "Nancy" also from that CD thread moved there. Perhaps you can search and find their posts--somewhere Wisteria posted pics of her new place. I wouldn't mind living on the CA coast, but I would never in a million years move anwyere near the San Andreas fault (I think it skips by where Wisteria is located).

Also check out this CD thread: Moving to Colo Spgs here are the Average/Median Home Prices

What is the house-selling situation like where you are?

Last edited by RiverBird; 09-08-2010 at 06:34 AM..
 
Old 09-08-2010, 07:00 AM
 
Location: Edina, MN, USA
6,954 posts, read 7,392,568 times
Reputation: 16283
Quote:
Originally Posted by isabella20 View Post

My husband is disabled and we've been living off of unemployment, severance pay, and rainy day savings for the past three years, but that's running low now and we're facing a ten month gap with no income until when I can start drawing from my IRA penalty free when I'm 59 1/2. Luckily, I had enough years in to get retirement medical benefits, so we don't have to worry about that.

.
You can actually withdraw before 59 1/2 from your IRA via a 72T account (I believe that's what it's called). No penalty, just regular taxes. I have this set up with mine. Check with your Financial Advisor/whoever is holding your IRA.
 
Old 09-08-2010, 02:41 PM
 
239 posts, read 455,969 times
Reputation: 292
Quote:
Originally Posted by newenglandgirl View Post
Wisteria (founder of this Women Retiring Alone thread) has found an affordable mobile home community right on the ocean somewhere in Monterey area. "Nancy" also from that CD thread moved there. Perhaps you can search and find their posts--somewhere Wisteria posted pics of her new place. I wouldn't mind living on the CA coast, but I would never in a million years move anwyere near the San Andreas fault (I think it skips by where Wisteria is located).

Also check out this CD thread: Moving to Colo Spgs here are the Average/Median Home Prices

What is the house-selling situation like where you are?
Thanks Newenglandgirl.You've hit right on the area I'm interested in. I used to live in the area that Wisteria is and I've read some of her posts. I'll have to look for the ones with the pictures. I'd like to see those.

I've done some research and there are two "types" of mobile home parks. In some parks you just lease the land and in others it is resident owned. We would definitely want to buy into a resident-owned park. The reason is that if a park isn't resident owned then there is a chance that if and when the owner of the park sells it the new owner may raise the rent to the point where it's unaffordable. This has happened in quite a few of the parks in California that are in nice locations where the land values are high.

One of the parks in the area where Wisteria lives the rents went from very affordable (in the low 100's) to in the $2,000 to $3,000 per month range. The retirees who lived there really got screwed. Their mobile home values plummeted to one tenth (at most) of the value they were before this happened. These poor people were living such a nice life right on the ocean with beautiful views and a very affordable living situation only to have it ripped away from them and at a time in their life when they are most vulnerable. There is another park in that same town that is at risk. The residents are fighting the new owner in court, but it doesn't look good. They also have a park in a prime location--right across the street from the ocean. So, we're looking at resident-owned parks with low fees. Even though there isn't rent in those parks sometimes the fees are so high it is the same, or more than the parks in which you pay rent.

As for earthquakes, I lived in California for most of my life, so they don't bother me. What scares me is tornadoes. I guess because it's something I'm not used to. I'm also a little freaked out by hurricanes. Luckily, the island I'm on now doesn't tend to get hit by hurricanes. They are far more likely to hit Kauai. My brother's house was destroyed by one some years back. It completely wiped him out. So, those scare me a lot.

To answer your question, the house selling situation where we are now is not good. Prices are very low and very few houses are selling. We actually have two houses on one lot and we're not sure if that's going to make it easier or harder to sell this property. We're getting the place ready to put on the market and hope to have it listed next month. Lately, it's been taking on average about a year to sell a house here. With the economy doing so poorly and with how difficult it is for people to get home loans now, it's very challenging to get a house sold. So, we'll see. That's our biggest hurdle. In the meantime, I'm checking out places to move to, but I have a feeling that I will have plenty of time for that research.
 
Old 09-08-2010, 02:45 PM
 
239 posts, read 455,969 times
Reputation: 292
Quote:
Originally Posted by Umbria View Post
You can actually withdraw before 59 1/2 from your IRA via a 72T account (I believe that's what it's called). No penalty, just regular taxes. I have this set up with mine. Check with your Financial Advisor/whoever is holding your IRA.
Thanks Umbria, I'll look into that. I think that might be the same as a SEPP, but I'll double check. A SEPP locks you in for five years, so I don't want to do that. But, I'll do some checking just to make sure there isn't something I'm missing. Thanks!
 
Old 09-08-2010, 03:25 PM
 
1 posts, read 1,443 times
Reputation: 10
I too am looking to relocate and I must say knoxgarden you make knoxville sound very comfortable, but I am a 35 yr old divorcee with children and I wonder are there areas in knoxville that have interesting things to do for teenagers? what are the best middle class neighborhoods to research?
 
Old 09-08-2010, 03:50 PM
 
Location: Arizona
419 posts, read 658,005 times
Reputation: 862
Quote:
Originally Posted by champagnegrrli View Post
I too am looking to relocate and I must say knoxgarden you make knoxville sound very comfortable, but I am a 35 yr old divorcee with children and I wonder are there areas in knoxville that have interesting things to do for teenagers? what are the best middle class neighborhoods to research?
Go to the Tennesse forum on citi-data and then click on the Knoxville thread. Post your question on the Knoxville thread. The posters there are very friendly and helpful. They are also very knowlegeable and will give you a lot of good info. To my knowledge, no one who posts here lives in Knoxville. Knoxgarden has not posted here in a very long time.

I do think you will find Knoxville an ideal place to raise your children as a single mother. By all means, pursue your interest in that great city.
 
Old 09-08-2010, 05:12 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by isabella20 View Post
We actually have two houses on one lot and we're not sure if that's going to make it easier or harder to sell this property. We're getting the place ready to put on the market and hope to have it listed next month. Lately, it's been taking on average about a year to sell a house here. With the economy doing so poorly and with how difficult it is for people to get home loans now, it's very challenging to get a house sold. So, we'll see. That's our biggest hurdle. In the meantime, I'm checking out places to move to, but I have a feeling that I will have plenty of time for that research.
With two house on one lot I would imagine you're either already renting one out or could start doing so. House rental can bring in quite a bit of money.

Also, when you go to sell you should market your property all over the world on internet sites (China, Japan, UK, etc). MLS/realtor alone is good for those who know where they want to move.
 
Old 09-08-2010, 07:37 PM
 
239 posts, read 455,969 times
Reputation: 292
Quote:
Originally Posted by newenglandgirl View Post
With two house on one lot I would imagine you're either already renting one out or could start doing so. House rental can bring in quite a bit of money.

Also, when you go to sell you should market your property all over the world on internet sites (China, Japan, UK, etc). MLS/realtor alone is good for those who know where they want to move.
Newenglandgirl, thanks for the suggestions. No, the other house is not rented, however it is occupied. It's a bit complicated and I won't bore you with the details, but renting isn't something we're considering at this point.

Thanks for your suggestions in regard to selling our property. The realtor we've selected has what I think is a good marketing plan that includes reaching out nationally and targeting niche markets. I'm not sure about internationally. I'll check with him on that. It's a good idea. Thanks!
 
Old 09-09-2010, 04:14 AM
 
13,319 posts, read 25,561,639 times
Reputation: 20505
I think Wisteria's mobile park near the ocean is right in Santa Cruz, one of the world's prettiest places. I don't remember what the land/lease/ownership situation is, though.
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