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Old 04-05-2015, 06:56 AM
 
5,621 posts, read 8,553,620 times
Reputation: 7705

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Quote:
Originally Posted by Escort Rider View Post
As a general statement I agree with that, but the issue is will he do just fine in Palm Springs, which is not the same thing. Poster Vic Romano provided some specific information about rental and housing costs in Palm Springs which should be helpful to the OP.
I've spent some time at the Springs (when I was stationed at the Stumps)
I've got family both there, and elsewhere near by. One spending much more, one spending much les...

Housing costs would be impacted by his current homes value.
Beyond that: depends on his activities it's completely doable.

Also, he mentioned FL also, too general to be more specific.
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Old 04-05-2015, 07:47 AM
 
Location: Virginia
8,114 posts, read 12,687,324 times
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Quote:
Originally Posted by VaBchDino View Post
Virginia Retirement System will give me $100 for health ins.
My wife and I are in the VRS. I couldn't find any info about this. Do you have a link? I'm just curious since the school district we work for only pays about $100 of the retiree's monthly premium and I'm wondering if that's where it's coming from. Thanks.

Where you with the schools in VA?
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Old 04-05-2015, 08:28 AM
 
Location: Grove City, Ohio
10,133 posts, read 12,387,762 times
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Quote:
Originally Posted by carnivalday View Post
No one can answer that question. For some people it may be more than enough, for others, not near enough. Only you know what your lifestyle is.
We're had polls asking what is the amount required for a comfortable retirement only to have answers come back anywhere from $1,800/month to $10,000/month.
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Old 04-05-2015, 08:47 AM
 
Location: Loudon, TN
5,783 posts, read 4,838,667 times
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Palm Desert is adjacent to Palm Springs (really more like the eastern half of the area) and it is quite affordable. My in-laws lived there for many years in an attractive senior community with a private executive 18 hole golf course. The homes were modulars and manufactured homes, but it was upscale, meticulously groomed and very affordable. Their combined income as retirees was around $50K/yr.
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Old 04-05-2015, 08:50 AM
 
3,997 posts, read 3,221,666 times
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The difference between Palm Springs and Florida is....Florida has water.

http://www.nytimes.com/2015/04/05/us...owth.html?_r=0
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Old 04-05-2015, 12:58 PM
 
Location: Myrtle Creek, Oregon
12,260 posts, read 12,507,549 times
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Here is a retirement alternative, if living in the USA is a little expensive for you:

Contemporary home overlooking San Ramón Valley

Health care in Costa Rica is reportedly very high quality and free for everyone.
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Old 04-05-2015, 01:00 PM
 
2,702 posts, read 3,743,255 times
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Palm Springs - very expensive (do not listen to people who say you can get affordable houses here.. If they are affordable you do not want to live in them)..Very HOT..Especially in the summer.... Florida has Humidity and a lot of strange people, BUT your money will probably go farther....
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Old 04-05-2015, 01:42 PM
 
30,108 posts, read 47,344,680 times
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I would just be concerned about your medical care and finding doctors to take your insurance if you are using a policy through your employer or a government system

And would suggest you
1 --find a financial advisor fee-only to give you an over view of your resources and future expenses, especially if you anticipate owning property in two different states to help you with tax/estate issues in addition to just budgeting/cash flow.
2--make an extended visit to both areas--rent home for month at time you think likeliest you would live there and just see how it goes...being there gives you time to get familiar w/various neighborhoods and general life issues...
I know that when we wanted to do long term rental in FL, we had complications bcuz of our two pets (dog n cat) so even the idea of doing long term rental in area we wanted was more hassle than it was worth.

We bought second home in FL before my husband retired --right next door to our daughter was mainly matter of luck/timing because we had been considering it for more than a year. And we had been going to visit over the 8 yrs she was living there after her marriage and had fairly good idea of +/- of area.
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Old 04-06-2015, 01:11 AM
 
Location: NNV
1,519 posts, read 974,563 times
Reputation: 3096
Quote:
Originally Posted by golfingduo View Post
For all who are ragging that Palm Springs is too expensive, I just did a Zillow search for property under $125k and I found 79 for sale at the moment. We do not know all of the OP's resources but even if it is near zero savings as long as there is a credit the home can be afforded by what we were told in the OP's initial post given no other huge debt.

Give the two choices in cities that OP tossed out, Palm Springs would be the better location in my opinion. Sorry Florida fans Jacksonville may have some nice areas and it may be a very nice place to live, Palm Springs beats it hands down.
I would like to see the properties you came up with that are under $125k, can you show us a sample? They are all for sale now? Have you actually done some recent local research of the Coachella Valley?

Yes, there might be lower priced properties in the general area but they are likely either 1) 1,000 square feet or less, 2) in a less than desirable area or 3) a condo or townhouse (and area HOA fees are not cheap especially on a golf course property). There are nice manufactured homes available that are available, but not sure if the OP is open to that...

One would be VERY hard pressed to find a decent sized house (say over 1,200 square feet) in a decent area for under $200k. This was not the case 5-7 years ago, but it is now. The areas for such properties are in Cathedral City and Indio (and Desert Hot Springs, but I'd stay near the freeway). If there were $200k homes available in decent areas I'd be buying another one to rent...

Last edited by Vic Romano; 04-06-2015 at 01:32 AM..
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Old 04-06-2015, 02:41 AM
 
Location: Central Massachusetts
4,800 posts, read 4,847,776 times
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Quote:
Originally Posted by Vic Romano View Post
I would like to see the properties you came up with that are under $125k, can you show us a sample? They are all for sale now? Have you actually done some recent local research of the Coachella Valley?

Yes, there might be lower priced properties in the general area but they are likely either 1) 1,000 square feet or less, 2) in a less than desirable area or 3) a condo or townhouse (and area HOA fees are not cheap especially on a golf course property). There are nice manufactured homes available that are available, but not sure if the OP is open to that...

One would be VERY hard pressed to find a decent sized house (say over 1,200 square feet) in a decent area for under $200k. This was not the case 5-7 years ago, but it is now. The areas for such properties are in Cathedral City and Indio (and Desert Hot Springs, but I'd stay near the freeway). If there were $200k homes available in decent areas I'd be buying another one to rent...
Zillow.com

15500 Bubbling Wells Rd, Desert Hot Springs, CA 92240 Just a quick search at 430 am eastern time. and no I have not done any looking in that area because it is not in an area I am looking for. I just don't want you to be discouraged if you want to find something you can

3557 Savana way Palm Springs CA $39900

Last edited by oldsoldier1976; 04-06-2015 at 02:48 AM.. Reason: just adding thoughts adding one Palm Springs home
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