[RicT]

Originally Posted by gypsychic

With some searching I think you actually could find something close to what you are looking for somewhere in Florida, but you kind of need to prioritize what you need from an area - rural or urban, inland or closer to the east or west, north or south, etc.

Yes, I think I can.

My "priority" would be 50+ degrees in the winter. That's it.

Inland seems to be the way to go regarding homeowner's insurance. I could give a rat's arse about the coastal areas. Maybe I'll venture a bit further North than FL.

The suggestion about looking outside the U.S. has merit but I'd like to see my kids once in awhile.

[Retiredcoach]

Will you be moving to Florida with the hopes of finding work, or is your plan to live off of the $200,000 that you have accumulated, waiting until you hit age 66 for Social Security?

[RicT]

Originally Posted by Retiredcoach

Will you be moving to Florida with the hopes of finding work, or is your plan to live off of the $200,000 that you have accumulated, waiting until you hit age 66 for Social Security?

Yeah Coach... that would be the ideal plan.

Of course I don't know how far I could string 140k for 10 years so some sort of part time gig would be necessary. It wouldn't take much though with a little luck. I'm quite used to living on the frugal side and have very few vices. Raising 4 kids by yourself and putting them all through college will suck that kind of crap outa' anyone. My lifestyle is pretty much on the dull side by most standards. I have no silly-assed notions of reclaiming my lost youth by climbing Mount Everest nor do I want to "see the world" via a geriatric cruise. A few good books and a little fishing is all the excitement I need these days.

[linc]

By the way, Alabama doesn't have property taxes.

[Retiredcoach]

Ric,

I commend you for taking the high road in life, as not only raising 4 kids as a single parent through college, but keeping your sanity in the process.

That being said, I know that Florida could be your place to enjoy the finest years of your life. The only downfall that I see to your plan is that I don't think that $200,000 will be enough to carry you through the next 20 years, or so, in Florida. Will you need to pay for health insurance until Medicare kicks in? If you have that $200,000 in a TSA, you will be heavily penalized with withdrawing it before 59 1/2.... do you have the funds to carry you until that age? You and I are in similar age brackets, and I am not going to count upon SS to meet my financial needs.... too many unknowns.

Because Florida does not have a state income tax (a small benefit to you when retired), it does have a ton of nuisance taxes, plus the higher property taxes that may affect you. It sounds as if you have at least some basic skills that may help you in the Florida workplace, but even jobs at McDonald's right now are careers for many. It may be a real challenge finding a job at a Walmart, especially when the unemployment rate is hovering around the 10%.

I think that you might be able to "stretch your funds" farther in other locales than Florida. Much will depend upon an improving economy and/or your willingness to live a lifestyle befitting someone who is impoverished.

[TriMT7]

20k is stretching it, but I know in places that experienced glut of building during the boom, like Port St. Lucie and Northport, you can find homes well below 100k.

[fauve]

below average cost of living - real estate and retirement - active adult developments - master planned communities

The international section is especially interesting. There's a town called Tequisquiapan near Queretero, Mexico where the author says you can live comfortably on $1000 a month (this would be with a maid/cook!)

Btw, this is a great thread. I love this subject. I'm 48 and my husband and I want to retire next year.

[Mike1306]

You can get a fixer upper foreclosure in my area for $20-$30K that is not in a terrible area.
I also saw a nice mobile, just needs appliances, 1400 sq ft on 3/4 acre for $29K, it is a pretty nice area also.

Taxes on something like this wouldn't be more than $400 or so if that.
Of course insurance would be a little more expensive but probably not more than $800-$1000 due to the age.

Just needed to add, if you don't want less than 50 degrees during the winter you better go all the way south because we will still get some days in the 30's here.

[RicT]

Crap! I spent 10 minutes on a reply, brushed my touchpad with a thumb and lost it. Macbooks don't work well with big hands.

Anyway Coach... suffice it to say my 401k will be exempt from early withdrawl penalty due to the "severed" employment clause governing said penalties. (Long story regarding myself and current employer) At age 55/56 I'll have liquid cash assets totaling at least $200k... free and clear, after taxes.

I figure if I need to start over at 55/56 I'm going to try and do it on my terms.

[RicT]

Originally Posted by fauve

Btw, this is a great thread. I love this subject. I'm 48 and my husband and I want to retire next year.

Hey Fauve... thanks for the link! Yeah, it's a great topic (for me anyway).

I've also looked at Mexico. In my web travels though, a lot of people have tried to debunk that $1,000/month theory of living the life of royalty in Mexico. People who live there now tell me it's more like $2200-2500. (Which is still pretty darned good). These are mostly semi-upscale english speaking pockets of the country though designed for hardcore snowbirds. I don't think I'm ready for the shuffleboard courts just yet.

The U.S. buck still goes much further "down there" but having no first hand knowledge I can't say who's right. For all I know, there's a 30% hidden tax imposed un U.S. citizens by the drug cartels these days.

Wherever you go, I hope you and your husband pull this off. Life's too short!