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Old 09-05-2014, 09:32 AM
 
Location: Near a river
16,042 posts, read 18,997,544 times
Reputation: 15649

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Planning for retirement is much like living preretirementówith a budget. Expense (including savings) = Revenue. For those who don''t budget, it doesn't matter how much they have, it won't be enough.
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Old 11-17-2014, 09:56 AM
 
Location: Cochise county, AZ
4,982 posts, read 3,472,095 times
Reputation: 10514
I think one thing to look at is that we should already have the high end things; car, furniture, etc. Looking at Tennessee rents as opposed to Minneapolis, they are at least 1/2 the price. I don't live in MPLS anymore, moved to the country but someone like me, who has weathered harsh MN winters, I'm investigating TN for financial and less winter but unsure whether I could do without seasons. I lived in SF for three years and loved most of it but really missed MN in the summer. So it's all subjective. I'm counting on this forum and a personal trip to make sure this is a good idea for me.
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Old 11-17-2014, 10:04 AM
 
4,492 posts, read 4,752,310 times
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Quote:
Originally Posted by meo92953 View Post
I think one thing to look at is that we should already have the high end things; car, furniture, etc. Looking at Tennessee rents as opposed to Minneapolis, they are at least 1/2 the price. I don't live in MPLS anymore, moved to the country but someone like me, who has weathered harsh MN winters, I'm investigating TN for financial and less winter but unsure whether I could do without seasons. I lived in SF for three years and loved most of it but really missed MN in the summer. So it's all subjective. I'm counting on this forum and a personal trip to make sure this is a good idea for me.

You have all 4 seasons in TN. Not the harsh winters but it can snow a bit. Keep researching.
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Old 11-17-2014, 10:13 AM
 
Location: Cochise county, AZ
4,982 posts, read 3,472,095 times
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Well, I was reading about Ashville, NC & ordered their online newspaper because it intrigued me. I'm not going anywhere until Spring so have some time.
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Old 11-17-2014, 10:42 AM
 
48,516 posts, read 84,010,700 times
Reputation: 18050
Quote:
Originally Posted by meo92953 View Post
I think one thing to look at is that we should already have the high end things; car, furniture, etc. Looking at Tennessee rents as opposed to Minneapolis, they are at least 1/2 the price. I don't live in MPLS anymore, moved to the country but someone like me, who has weathered harsh MN winters, I'm investigating TN for financial and less winter but unsure whether I could do without seasons. I lived in SF for three years and loved most of it but really missed MN in the summer. So it's all subjective. I'm counting on this forum and a personal trip to make sure this is a good idea for me.
Moving those things isn't cheap. No one can tell the life style changes you'll go thru and fixed expenses you face really.
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Old 11-17-2014, 11:57 AM
 
Location: Cochise county, AZ
4,982 posts, read 3,472,095 times
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Well, 1st I was declared disabled and so will be eligible for income based rent in apts that are in the program. There were a few in Knoxville but I do need to get going and ask for application. Your rent is 1/3 of your income. And, for myself, I got rid of most of my stuff when I lost my house and am reduced to about 30 boxes. Since I'm with family I don't plan on buying furniture until I move. If it's Tennessee, my brother always comes here to fish in June, when it's finally warm here. He lives in Nashville but more than willing to help me to Knoxville. In the meantime I am saving most of my SSDI to buy these things when I do move. I help with 1/2 the household costs, which so far hasn't gone over 500 per month and often is lower. So, a lot is going into savings.
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Old 11-20-2014, 01:31 PM
 
1,831 posts, read 2,141,281 times
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Open account for the deposit of the $3000 SS checks. You have to do this anyway as all things are electronic these days but pick a bank that is national and electronic forward thinking. Now train yourself to think of that as your identify, and do whatever it takes to exist on that amount. Create a separate investment Morningstar rated AAAA mutual fund or such with a national financial institution such as Fidelity or Vanguard or similar. Never touch this money and train yourself to not even think about that money. As you go along there will be a few life changing events that a few extra bucks will make all the difference. This should only occur every 24-36 months. you can use a little cash from your fund to help. You can start training yourself now so that by the time you are older you will be pros.
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Old 11-20-2014, 05:13 PM
 
Location: Great State of Texas
86,093 posts, read 72,575,594 times
Reputation: 27566
Quote:
Originally Posted by meo92953 View Post
I think one thing to look at is that we should already have the high end things; car, furniture, etc. Looking at Tennessee rents as opposed to Minneapolis, they are at least 1/2 the price. I don't live in MPLS anymore, moved to the country but someone like me, who has weathered harsh MN winters, I'm investigating TN for financial and less winter but unsure whether I could do without seasons. I lived in SF for three years and loved most of it but really missed MN in the summer. So it's all subjective. I'm counting on this forum and a personal trip to make sure this is a good idea for me.
I would suggest you rent for a year and not buy any RE there.
This way if you find you don't like it then 6 months into the lease you can start looking again.

It's hard to pick a spot you've never been to and then just visit for a short time and try to make a decision based on that.

This also happens in your working life if your company relocates and transfers you.

I got transferred to Texas as my company closed up their FL labs.
Big move for me and I had never been to Texas before.
I rented for a year and didn't like where I was living and rented again for another year in another town and loved that place and then I bought some land and had a house built.

I retired in Texas so it wasn't as big of a deal to relocate. I moved away from the Austin area because Austin became the "hot" city and taxes were going through the roof. I spent about a year doing weekend trips to other towns in Central Texas before deciding on my present home now.
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Old 11-20-2014, 08:24 PM
 
Location: Cochise county, AZ
4,982 posts, read 3,472,095 times
Reputation: 10514
I actually don't think I'll ever buy a house again and am thinking of renting. And, for the first year I would rent anyway. But I like your thinking.
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Old 11-21-2014, 10:40 AM
 
Location: Loudon, TN
5,807 posts, read 4,854,199 times
Reputation: 19522
Quote:
Originally Posted by N.Cal View Post
The politics. In SF I was middle of the road, even a bit conservative. Not here.
I hate cold weather.
Sick with asthma and allergies most of the time I've been here.
The undercurrent of religion everywhere.
Crime.
People carry guns.
People think drinking and then getting behind a wheel of a car is no big deal.
They can't drive here when sober either.
Nowhere to bike safely.
The work culture - everyone wants to come in at 7:30 AM and leave before 4:00 PM and the lack of work ethic is amazing.
No public transportation.
My friends live in California.
I love the ocean and the desert.
Limited GOOD ethnic food. I'm over the fancified Southern cuisine.

There are some fun things in Nashville - it's a huge drinking, eating and music (of all types) town. Great place to come visit. And I do plan to make a killing on the house I bought (up over 20% in a year). I came here because of work, but long term, I won't stay.
I've lived in northern CA all my life except for a few years in the military and the last year here in east TN. I am so glad I left CA. Don't get me wrong, I love the mtns, coast, etc of CA, but the cost, the gov't, the people, the taxes, the gang violence, the crime, all of that is what brought me to retire elsewhere. I am a total bleeding heart liberal on just about every social issue, but am very financially conservative. I couldn't disagree with you more about TN. Just about everything you said about TN can also be said about CA....crime, guns, bicycles, lack of viable mass transit. And what in the heck is wrong with working 7:30 - 4:00??? I worked those hours at my job in CA for years. People work the hours they are told to by their managers.

I am not a religious person (atheist, actually) and I have had no problems with any "religious undercurrent" here in TN. There are more Baptists and more churches, but that has no impact on my life in any way. People have different likes and dislikes and what was awful for you is wonderful for others. As a lifelong Californian, when I returned to Sacramento for a visit last spring, my stress level instantly went up and I couldn't wait to get "home" to TN. Different strokes for different folks.
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