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Old 07-07-2015, 11:22 AM
 
Location: Omaha, Nebraska
7,332 posts, read 4,183,795 times
Reputation: 18410

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Quote:
Originally Posted by volosong View Post
Since this thread was resurrected, I'd thought I'd give an update on my emotional state. I'll turn 64 next month and have decided to retire when I reach 65 and am medicare eligible. One of my retiree benefits from my employer will be funds to pay for a medicare advantage or medigap policy, so my medical needs will be covered. (Still trying to figure out that stuff.)
Congratulations on your upcoming retirement! I think that for a lot of people, getting to the emotional state where they are actually ready to pull the plug is the hard part, and you've achieved that.

Quote:
I'm not quite so anxious anymore because I'll be selling the house and realize that in this last year remaining, I have a whole TON of work to do getting rid of really good 'stuff' and performing some minor repair/maintenance work on the house. Looking at how much needs to be done and how little time there is to do it, the time will go all to quickly and I'm sure I'll wish for more.

Downsizing is really emotionally draining. Every single piece of paper or 'stuff' I pick up has to have a decision made about it. Do I want to haul it to my new abode? Do I really need to keep this? Maybe I should just replace it when I get resettled? Making thousands of decisions is mentally draining.
Is there some reason why you have to be in a tearing hurry to sell your current house? Maybe some of that work would be best done in the months after your official retirement, so downsizing and home repairs could be full time job rather than something you're trying to squeeze into nights and weekends?

I certainly agree on the level of work involved. I know the day will come when I will want to sell my current house and move into something smaller, but just thing about the sheer amount of work involved is enough to keep me in the place as long as I'm working my current job.
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Old 07-07-2015, 06:48 PM
 
Location: Hiding from Antifa?
6,435 posts, read 4,194,424 times
Reputation: 5727
Another landmark stage is turning 62. Better yet is when both spouses are 62. Then they can qualify for a reverse mortgage. A RM is not always good for everyone's circumstance, but for some it might enable retirement at a time when no other possibility exists. It is something we are currently looking into in a unique manner that will help us be rid of an upside down house. If it works out for us, I will create a new thread here because I think there may be others out there who could use my idea.
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Old 07-07-2015, 06:55 PM
 
Location: Idaho
4,650 posts, read 4,489,701 times
Reputation: 9140
Quote:
Originally Posted by Aredhel View Post
Is there some reason why you have to be in a tearing hurry to sell your current house?
Thanks for the kind words. I want to get rid of the house at the same time I quit working. My mortgage is pretty steep. "Other people's money", right? I came in with only 5% down and the mortgage takes one full paycheck every month and I am left with the other paycheck per month for all other expenses. I'm not complaining. (This is the overly simplified version. It's a bit more complex than this.) I have more than enough and am very blessed, or fortunate, however you want to view it.

Besides, there is just me and my two little doggies. We don't need a four-bedroom, three-car garage, two-story 2,850 square foot house. The place was purchased as a retirement investment, and now that I'm close to retirement, it's time to cash out.

The plan is falling nicely together, despite the economic turmoil of the past decade. The only thing that will really muck it up is a total economic collapse, similar to what Greece is going through right now. Could happen, and some people predict that this is where we are headed. Who really knows? I'm not too worried, at least to the point where I'm losing any sleep over it.
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