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I always counted the value of my home (equity) as part of my retirement funds. If I need to go into an assisted living arrangement, I can always sell my house and use the proceeds for multiple years of assisted living payments.
I agree with this line of thinking. However, I understand why married people don't think the same way. It's more complicated for two people.
I don't think it would be hard to find an investor to buy the home, though the OP may not get the price he wants. People who invest in real estate like having responsible renters already in place. But if for some reason the OP started neglecting the house or trashing it, the investor could get him out.
I was a little shocked at the $6k/month. My house is about 2x the value of his, my mortgage will be more than his and the payment is about $4k/month. I hope to refinance that. I have finally come over to the "I'm retired and it makes no sense to pay this off" camp. Once the divorce is final and the property is mine alone, I'm not going to get comfortable here. I'll sell the place to the first entity that offers a reasonable price.
OTOH, stbx may put up a fuss about me having this property, in which case I would get the paid-off California house with Prop 13. Win-win.
Wow, things have evolved or I never picked up on the divorce. I'd keep the CA house until 2029-ish and let it double again and then sell. Or, I guess based on how long you think you'll live. I would never have left CA if I could have afforded it (no way).
Last edited by Wile E. Coyote; 01-13-2022 at 10:30 PM..
For most of us , when we reach retirement all we have is retirement savings .
There is no distinction in liquid assets
There is only a distinction between retirement money that is part of the income generation pool and net worth which includes non liquid assets and assets of value we choose not to sell or sell yet
1. retirement account(s)
2. 5 yrs expenses in cash emergency fund. Hide very well in a fire proof save. Many ones, fives and tens.
3. Self sustaining property somewhere- Fish pond, poles and supplies, raise animals, fruit trees, and vegetables on property large enough people cannot see these resources (to steal later on). What plants can be grown to assist with any current medical issues? Plenty of matches and Coffee.
6. Assume any funds related to the computer are gone. Pensions, 401k, etc.
7. Guns and enough Ammo to last 5 years.
8. A few working RV if your bug out shelter is destroyed.
9. Good Quality bicycles- extra tubes and tools to fix when needed.
10. Fruit trees
11. Get a book on edible plants in your area
12. Pick property which is way out there....very few people in town. Yet near a constant water source like rivers.
13. Have plenty of bibles on-hand
Cover every aspect of any circumstance which may arise, if you can. Or to the extent you can
COVID has shown us how the food supply can be disrupted.We only need so much money to live then with the excess, we can secure any situation which arises. Promised Unemployment funds not being rightfully granted. If you were blessed enough to have the funds to pay someone to prepare for you, otherwise DIY.
1. retirement account(s)
2. 5 yrs expenses in cash emergency fund. Hide very well in a fire proof save. Many ones, fives and tens.
3. Self sustaining property somewhere- Fish pond, poles and supplies, raise animals, fruit trees, and vegetables on property large enough people cannot see these resources (to steal later on). What plants can be grown to assist with any current medical issues? Plenty of matches and Coffee.
6. Assume any funds related to the computer are gone. Pensions, 401k, etc.
7. Guns and enough Ammo to last 5 years.
8. A few working RV if your bug out shelter is destroyed.
9. Good Quality bicycles- extra tubes and tools to fix when needed.
10. Fruit trees
11. Get a book on edible plants in your area
12. Pick property which is way out there....very few people in town. Yet near a constant water source like rivers.
13. Have plenty of bibles on-hand
Cover every aspect of any circumstance which may arise, if you can. Or to the extent you can
COVID has shown us how the food supply can be disrupted.We only need so much money to live then with the excess, we can secure any situation which arises. Promised Unemployment funds not being rightfully granted. If you were blessed enough to have the funds to pay someone to prepare for you, otherwise DIY.
You might enjoy the Self Sufficiency and Preparedness forum here on City Data.
I would never have 5 years of expenses laying around the house. Sorry balloon lady but all those plans aren’t necessary.
Seriously. That was a bit wild.
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Or, I guess based on how long you think you'll live. I would never have left CA if I could have afforded it (no way).
