RE goals- early retirement. Part 2

RE goals- early retirement. Part 2

Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes

I like to share personal experiences on BP, rather than all this concept stuff that is often posted. My info is first hand. Either I've done it on seen it done. This is to follow up on just how easy retirement can be and not expensive, depending on how and where you want to spend your retired time.

How would you like to play golf every day for about $5 per day, multiple rounds? If you don't want to walk, $2 per day for a RIDING cart. For about $7 per day, golf 18, 36 or 54 holes!! I did this for several summers.

The Course is gorgeous, lush and green. The temps are 70 Degrees, roughly EVERY DAY. Did I mention this was a Country Club ?

For several years, I belonged to Redwood Empire Golf and Country Club. It also has a Pool for the fam. (speaking of the family, the rate I quoted was a TOTAL rate and includes my wife!!) This is located on the Redwood Coast of Cal, in Fortuna, 25 miles south of Eureka. Now you think, there is the catch, country Club membership!!

The normal membership fee is $1500, one time! They give EVERYONE a 50% discount! $750 and your family is a member for life. The monthly fee was $160 last time I was there and the cart was $60 per month. There are less than 500 members. I NEVER had tee time problems and always was able to get on. Huge pine trees, lakes and good contour. A nice challenging course.

If you have an RV, there is a highly rated RV park with store, pool and spa for sore muscles after 3 rounds of golf. The park is on the side of a large river with great walking trails. The monthly fee is about $500 per month.

So, here is another beautiful way to spend a year or more for very little money. Once you have a rig, your monthly expenses are WELL under $2000 per month. The RV park was Riverwalk, and there is gorgeous scenery everywhere. Giant Redwood state parks, the EEL River out your front door, the CA coastline, Oregon coast 100 miles away, and vintage National historic towns to stroll through.

A very relaxing way to go. I also played on 2 county softball teams, one Over 50 and one over 55 league. I was a stud on over 55 and got killed on the over 50! I still have dents on my shins to prove it.

This was a wonderful way to spend time. Chased the deer off the course every morning. Took a mulligan if I wanted. This was as much fun as you could have for next to free. The Club even allowed you to put your membership on "vacation" for a few months if you went away and you didn't have to pay any dues.

Man, when I think about this, I wonder , what the heck am I doing in FL? If you desire more info, reply or e-mail. I just don't want you to feel retirement is not possible for you. It doesn't take much money, if you are willing to look around.

Other benefits of this lifestyle?

1. Kids can't come back home!

2. When you visit them, you can stay in your own rig and leave when you want

3. More flexibility in staying as long or short in one place as you want.

4. You may select any place you want as your "home". I call this a "domicile", and mine is South Dakota (lots of reasons!)

Part 3 will explain how to cut LOTS of your expenses and TAXES with this lifestyle. It'll be short but very powerful. Possible to save THOUSANDS annually with just one little trick. If this interests you, let me know. Rich

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Investor · Mableton, GA · Member since 2009 · 1k+ posts · 465 votes
16y
Originally posted by Harvie Arington:
You know Rich, the main reason I'm interested in real estate investing is for retirement. I'm 40 now but I don't want to work a JOB for another 30 years so I can retire just before I die. I also don't trust the stock market. My wife and I have talked about buying an RV and traveling the country when the kids are grown ( the youngest is 2). My goal is to "retire" while the kids are still kids and enjoy them while I can. What I'm trying to say is thank you for bringing up this topic. Reading about this helps keep me focused on our goals.

Harvie


Harvie,
I think your terms are wrong. You are not looking for retirement. You are looking for financial independence. There is nothing wrong about having a "Job". The trick of financial independence is to allow you to choose your job which would be your passion and not your necessity. Although you may not be a spring chicken, you are still young to follow your passion... Retirement is ... well, it is for old people...
See this reply in the discussion

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  • Investor · McKinney, TX · Member since 2009 · 405 posts · 160 votes
    16y

    Are you kidding, of course I'm interested in Part 3!

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    16y

    Kevin- you look like the only one interested. pretty humorous. Rich

  • FL · Member since 2009 · 2k+ posts · 357 votes
    16y

    Rich,
    I've read just about everything that you've posted, since I became a member.

    I'm semi-retired, and any info that you provide, is deeply appreciated!

    Ray in Ct

  • Investor · McKinney, TX · Member since 2009 · 405 posts · 160 votes
    16y

    Rich,

    I'm really surprised there seems to be so little interest in this topic.

    I want to hear about part 3, if there's little interest by others then PM part 3 to me, but don't leave me hanging.

    Thanks!

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    16y

    Ray-thanks for the compliment. What are you lacking to be FULLY retired? Maybe just some tweking.

    Kevin-I've determined that most BP members are too young to be thinking about retirement concerns, figure the govt will care for them from " womb to the tomb", or already know everything there is to know.
    I try to post topics that will generate an exchange of thoughts, different viewpoints or outright disagreements. Seems like politics is the only topic that accomplihes that, unfortunately. Rich

  • Investor · Little Rock, AR · Member since 2010 · 628 posts · 251 votes
    16y

    Rich
    I always search for your words of wisdom evertime I log on. As it turns out, an RV is one of my wife's and my goals along with paying off our consumer debts. I have decided that 59 1/2 is all I can take of a real job; about 6 more years. We will live from IRA's 401's and a rehab or 2 per year.
    Thanks
    Don

  • Rental Property Investor · Syracuse, NY · Member since 2008 · 131 posts · 17 votes
    16y

    One thing I have not seen mentioned, is that it is possible to move to another country where the cost of living is less expensive. I have been doing some research on the Dominican Republic and may purchase a home there (depends on wife)!

    Chris

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    16y

    Chris- abolutely, positively. We checked out Costa Rica, Belize and Brazil as well as the Lake Chapala area of MX. Of all those, we like Chapal extremely well. I could've moved there, but not enuff going on for my wife. Reasons
    1. Cheap
    2. Arguably, the WORLDS' best climate. Chapala and Guadalajara argue over that. 70's year round approx.
    3. Lake Chapala that keeps temps low and breezes high.
    4. City of 8 million within 40 miles for shopping .
    5.Convenient to U.S.
    6. Thousands of Americans and Canadians living there.
    In the end, we decided to keep one condo in Cancun and at least 1 place in U.S. It has worked pretty well for us, although we could've done it cheaper. Rich

  • Real Estate Investor · San Antonio, TX · Member since 2009 · 44 posts · 13 votes
    16y

    You know Rich, the main reason I'm interested in real estate investing is for retirement. I'm 40 now but I don't want to work a JOB for another 30 years so I can retire just before I die. I also don't trust the stock market. My wife and I have talked about buying an RV and traveling the country when the kids are grown ( the youngest is 2). My goal is to "retire" while the kids are still kids and enjoy them while I can. What I'm trying to say is thank you for bringing up this topic. Reading about this helps keep me focused on our goals.

    Harvie

  • Investor · Mableton, GA · Member since 2009 · 1k+ posts · 465 votes
    16y
    Originally posted by Harvie Arington:
    You know Rich, the main reason I'm interested in real estate investing is for retirement. I'm 40 now but I don't want to work a JOB for another 30 years so I can retire just before I die. I also don't trust the stock market. My wife and I have talked about buying an RV and traveling the country when the kids are grown ( the youngest is 2). My goal is to "retire" while the kids are still kids and enjoy them while I can. What I'm trying to say is thank you for bringing up this topic. Reading about this helps keep me focused on our goals.

    Harvie


    Harvie,
    I think your terms are wrong. You are not looking for retirement. You are looking for financial independence. There is nothing wrong about having a "Job". The trick of financial independence is to allow you to choose your job which would be your passion and not your necessity. Although you may not be a spring chicken, you are still young to follow your passion... Retirement is ... well, it is for old people...
  • Real Estate Investor · North Carolina · Member since 2008 · 1k+ posts · 483 votes
    16y

    Thanks for posting, Rich. Keep 'em coming!

  • Investor · McKinney, TX · Member since 2009 · 405 posts · 160 votes
    16y

    Agree with Harvie, I took up REI because I have little faith in the stock market. I still have money in the market, but it's a secondary investment.

    I'm treating my current job as the means to an end - dumping as much as I can into RE, RE that I plan to pay off as quickly as possible to build a nice passive income stream for the future.

    I'm late to the game, but have a solid plan and the income stream is building.

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    16y

    Great replies! I agree with all the comments. "retirement " looks different to different people. As I pointed out in the Meet the Investor section here on BP, I RETIRED at age 29. That didn't mean rocking chair! It just meant no one else controled my time or what I did.
    The intent of this thread was to dispell the bleakness pointed out so often in mags about needing million plus to retire. BS! It depends on what you want to do and lifestyle you require. There are Thousands that retire on very limited funds. It really can be done. Just plan a strategy, cost it out and go for it.
    One word of caution. I had this same discussion with a relative about 7 years ago. This couple had all their kids raised and enuff funds to retire in the method I mentioned in these threads. They decided against it, finished their basement(over 100K) , bought a fast food franchise for their son to run, and a small condo in Cancun.
    Then came the downturn. Their electronics company went backwards, the franchise didn't perform and their 900K home became worth less than the loans. Cancun suffered from Swine flu, downturn in economies and worries about drug gangs.
    Now, they don't have multiple choices. They've lost home to foreclosure, have moved into one of their rentals, and are stareing BK right in the face.
    I tell this story to suggest greed sometimes is a risk. No one knows what risks will be rewarded and what risks will come with severe losses in downturns. Just be certain of your plans, strategies and goals. You can reach them. That is my point. Go for it!! Rich

  • Property Manager · Passaic, NJ · Member since 2008 · 369 posts · 83 votes
    16y

    Hi Rich, love your Posts!! Can't wait to see Part III

  • Investor · Fort Wayne, IN · Member since 2009 · 391 posts · 257 votes
    16y

    I believe that Eddie has touched on an important point. The goal should be to achieve financial independence and then decide where to expend your energy and efforts. Whether that be a job, a volunteer position at a cause that you believe in, or simply supporting the economy through numerous vacations, you have the freedom to choose your path once you have achieved financial independence.

    I am now facing probably the toughest decison of my life. I have achieved financial independence (for some tine now actually) but due to a variety of personnel departures in our unit, it is in the best interest of the unit for me to remain for several more years.

    After 31 yrs, I am ready to move on to the next chapter. However, I have also spent 31 yrs answering the call of duty so I am torn between what I want to do and what my sense of duty calls for me to do. As one friend stated, duty was built into my DNA. To compound matters, we are converting from an F-16 unit to an A-10 unit which means that after 24yrs of flying the F-16, I now have to return to training and learn another jet.

    I owe an answer to my boss in a few weeks as to whether or not I will convert to the A10 and remain or if I am going to retire as planned. I still have no idea which way that I will decide. Follow my heart or follow my duty?

    Rich, thanks for all that you share here on Bigger Pockets.

    Sincerely,
    Chris

  • Real Estate Investor · San Antonio, TX · Member since 2009 · 44 posts · 13 votes
    16y

    Eddie,

    Let me clear up a little confusion. To me, retirement = financial independence. To me retirement means not being beholden to anyone to support my way of life. I think some people hear the word retirement and we think of our grandparents (WOW they were old. At least that's how I remember them). For me retirement is at the TOP of my list of goals not at the bottom. Retiring from my job means I can spend all my time building my real estate holdings and spending time with my family, which is pretty much all I want to do.

    Harvie

  • Property Manager · Passaic, NJ · Member since 2008 · 369 posts · 83 votes
    16y

    Chris, you have answered the call of duty for 31 years and devoted yourself to it fully.....Life is too short.......enjoy what you've worked hard for, what you deserve and do so without guilt. In a constantly changing world one cannot be expected to keep up with every change.

    You are very passionate about your job/career......you can keep that passion fulfilled in other ways
    1 Enjoy yourself
    2 Devote a little of your spare time to introduce the wonderful world of flying to others - volunteer at aviation schools - run Boy Scout tours at your local little airport - speak about your experiences at Learn To Fly Programs. There is no greater joy than watching a young child's eyes just light up as he soaks up your words.....

    Come on down and visit me at the Lincoln Park Airport (N07) in NJ anytime! (See us Property Managers manage more than just houses and apartments - we do tie down's and Tee Hangers too).

  • Investor · Mableton, GA · Member since 2009 · 1k+ posts · 465 votes
    16y

    Harvie,
    I know. It was more of semantic and perception than anything else,

    Chris,
    You're awesome! Serving your country and achieving financial freedom is the best thing ever. I'm sure the love of flying has something to do with that too and it would also play part in your decision to stay in the unit or not.
    I have to tell you, thought that learning to fly a new aircraft must be a brain challenge that would keep you sharp (Even though it may seem going backward F-16 to A-10... :wink: )

    One of my parents' best friend was a test pilot for the Israeli Aeronautic Industries. (He was the one who test flight the Kfir) Prior to that he was a pilot for the Israeli Air force and flew most of his military career the French made Mirage. When Israel acquired the Skyhawks, he had to convert. He said that it was the toughest thing mainly because of the difference in the concept of human engineering between French and American made products. In the end, he became a die hard fan of the Skyhawk and flew it on various operation missions.

  • Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    16y

    Scott Burns released a new article on this topic today:

    Finding a Low-Cost Paradise

    http://assetbuilder.com/blogs/scott_burns/archive/2010/05/14/finding-a-low-cost-paradise.aspx

    Rich, this is great content. I mean your posts. I am not ready to retire, but I love reading about various strategies, especially non-traditional ones like yours.

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    16y

    Jon- I enjoyed the article. I think he's copying me! The part where Lake Chapala is suggested made me smile. It reminded me of fun times checking that area out.

    Harvie- I USED to think grand parents were REALLY old also. How times change. My oldest grand son graduates in a couple weeks and has a cute girlfriend he wants to marry! I could be a GREAT GRAND PARENT soon! That amazes me. Now, I think grand parents aren't so old.

    Chris- thanks for your service. One of my son in laws just retired From Army after 20 as lt col. His wife, my daughter has her own RE company and he helps there and also was hired back by private company doing what he was doing before.

    Thanks Ingrid. Tomorrow, part 3. Rich

  • Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
    16y

    Somehow I missed this topic when it first came out. I find your point of view refreshing and look forward to reading the entire series.

    Real estate is our families retirement. I know that we could retire anytime, but we are looking to do more international travel.

    It's important to have a plan for your retirement and I look forward to read more of your experiences.

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    16y

    Charles- do it correctly and you can do both. Still have fun with RE, have all the free time you want and TRAVEL. I travel a week or more per month- have hit around 70 countries. I was in Egypt a couple weeks ago including Nile cruise, To Vegas on wed, to Dallas for semi annual review of apt project I have and grand sons' graduation, home for a week then cruise in Norway, back for couple weeks, to utah in early July for sons' wedding then bringing them all to cruise off fl, and home for 3 weeks and then big cruise in the Galapogos islands.
    I practice what I preach. This isn't rocket science, and sometimes we try to make it more difficult than it is. You may be there sooner than you think, and not know it...Rich

  • Investor · Mableton, GA · Member since 2009 · 1k+ posts · 465 votes
    16y

    My dream (and to certain extend my plan) is to retire in an inexpensive tropical country. Since my daughter lives in Costa Rica, that was and still is the goal. However, the older I grow, medical attention becomes a greater concern. I'm talking primarily about emergency care. There is no better emergency care in the world than in the US. How do you deal with that?

    Your thoughts.

  • Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    16y

    Eddie- NO first hand experience. I do know of many expats in Chapala area that rave about medical treatment in Guadalajara. I've even heard of their results after accidents etc. You may even obtain insurance there! A lot of people do go to foreign countries for boob jobs etc.
    I do buy my drugs in MX and all my dental work is done there and I've passed that info on. I've yet to have a single complaint about my dentist. He, I will vouch for. I can return from Cancun to FL in less than 2 hours, but don't know if that would work in severe emergency. Rich

  • Investor · Fort Wayne, IN · Member since 2009 · 391 posts · 257 votes
    16y

    Thanks for the thoughts and well wishes on my last post about struggling with staying or retiring.
    I wanted to let you know that I have volunteered to stay on. It will now be up to the state leadership to determine if they want to accept my offer.
    If they want me to stay on, I will have another 3 yrs before I retire and will attend conversion training sometime after the 1st of the year.
    Thanks again for the thoughts and well wishes.
    Chris

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