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Old 07-12-2009, 06:29 PM
 
5,090 posts, read 13,548,911 times
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It strikes me that people in their sixties, who are just getting by on $72,000 a year, and have a high mortgage in a newly purchased home; and little equity; have an unfortunate issue with spending and savings. I am not judging their lifestyle, I am just reflecting on the issues.

It is a terrible lesson to learn in your elder years, that living beyond your means becomes more difficult to control, as time goes by. Minimizing wants and needs are attributes that take time and years to learn--it is very difficult skill to master in our society. And perhaps spending as you go, and buy what you want makes a better lifestyle. I would not know, as I never had that desire.

Livecontent
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Old 07-12-2009, 07:29 PM
 
Location: Fresno, CA
1,071 posts, read 1,058,328 times
Reputation: 1980
Quote:
Originally Posted by brightcopperkettles View Post
Each of you promised to love the other for the rest of your lives, which means you both need to consider the other person. One person getting what he/she wants is not the answer because the other person won't have what he/she wants.
Brightcopperkettles- So sorry for the loss of your mom.

Regarding your retirement destination plan:
  • Is your husband open to anywhere but the PNW or are his roots set so deeply there that he feels he wouldn't be happy elsewhere?
  • Is he agreeable to giving up the property where you now live?
  • Is he ready/willing to leave his current job or does he enjoy what he's doing?

Those can all be sticking points.

Have both of you considered downsizing considerably? Sell your property and perhaps buy a mobile home in the PNW in a nice but not expensive senior park or a duplex and rent out the second unit. You could live on your husband's retirement pension and be snow birds for a few years. Spring and summer in the PNW. Fall and winter with or near your family in the south. You could get a park model mobile home there or rent cheaply. Both of you could do some seasonal part-time or temp work or have a part-time business. Then you could do a little traveling to see if there is a place that appeals to the both of you.

This would take the stress out of having a high mortgage and probably a good deal of maintenance on your acreage. It would then add a little more time for some shared fun.

If your DH is reluctant to leave his senior dad for so long at a stretch and his dad can't or wouldn't desire to go along for part of your southern sojourn, you could go for maybe a month or two at a time.

Whatever, less financial burden from your property will definitely take a load off and make it easier to look at other options. Right now you're both locked into working which you might not have to do with some creative planning.

Best wishes!
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Old 07-12-2009, 07:32 PM
 
Location: SE Florida
1,194 posts, read 3,690,044 times
Reputation: 754
Quote:
Originally Posted by brightcopperkettles View Post
I love my husband, and he loves me, but this is a problem we just can't figure out an answer to. This is the only bone of contention between us, but it's a big one. Anyone else have any suggestions?
Your gross income working is honestly not high but you can live comfortably in the Southeast section of the good ole USA. If your husband is a Veteran the state of Florida is Veteran friendly.
Charlotte is a nice area to call home..Homes that are currently found in Ga, SC, Vegas and Florida have had a deprection in their total value over the last few years. We purchased our Florida home 4 years ago for $400k and it is worth $225k now. We are both retired at 55 and are doing fine. We did plan to do just a well retired as if we were still working.

Anyway, there are very nice homes in areas where you and your husband should be looking in SC. Please look before you leap and I mean take a few days or longer in areas you may be thinking to move. Find out who are the local preditors and notify the local Police to find out the crime rate...Then please sty out of those areas...You will do well and we will pray for your success....

..
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Old 07-14-2009, 03:08 PM
 
48,516 posts, read 83,943,432 times
Reputation: 18050
You have plenty of time to decide on a area that will likely be a compromise for both of you. You having bought in 2004 are likely to make a bit on that home . There are lots of areas where 250-300;000 will but alot of home and the cost of living be much cheaper than the PNW. We see plenty of people moving to texas that buy homes they never could have afforded in their home state. So the thing is to keep looking as there are plenty of states open to you and 75,000 will give a very confortable lifestyle. Based on the description you could downsize with a very nice new home and still lower your house payments;leaving more disposible income in a lower cost area.Enjoy looking and relax your in good shape compared to many.
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