Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 (edited) I have no work meetings today, so I should be able to get a lot done. I have a phone call this afternoon with a financial planner, the first of several I'll be interviewing. I've been thinking about my goal, which is probably to invest aggressively so I have the option to retire as early as possible. According to my calculations, if I'm really aggressive and there are no curve balls, I could potentially retire comfortably within the next 10-15 years, which sounds amazing. Or if I want to have more fun with my money while I'm younger (house with a swimming pool, vacations, etc.), I can do that and delay retirement a little bit. In any case, the plan is shaping up and things are looking good. Edited June 23, 2020 by Ruby Slippers 1 Link to post Share on other sites
Happy Lemming Posted June 23, 2020 Share Posted June 23, 2020 8 minutes ago, Ruby Slippers said: According to my calculations, if I'm really aggressive and there are no curve balls, I could potentially retire comfortably within the next 10-15 years... That's great!! I retired early at 52 about 2.5 years ago. Every day is paradise!! 4 Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 The one material upgrade I would like to spring for as soon as I can is a house with a swimming pool. So my revised plan is to save up for a down payment on that alongside retirement investing. Then once I've been in my position a while and have a good amount saved, I'll upgrade the house. This makes sense to me, since the house is another good investment vehicle. The pool is a splurge, but it would increase my happiness and quality of life so much that I feel it would be more than worth a little extra time working for it. Then maybe during retirement I can fulfill another lofty goal, to design and build my own house and water oasis 1 Link to post Share on other sites
Happy Lemming Posted June 23, 2020 Share Posted June 23, 2020 1 hour ago, Ruby Slippers said: I have a phone call this afternoon with a financial planner, the first of several I'll be interviewing. I'm not a fan of financial planners, I never really felt they had my best interest at heart. In the past, I did better with my investments when I took care of them. I had one 401-K through an employer that got turned into an IRA when I left that company. I had left the funds with that investment firm, the way they traded never seemed to make any money. Even though I had specified low risk investments, my account continued to go down. It came back up slightly and I removed the funds. I took a small loss, but made it back through my own investing. I'm very glad I took the money away from them when I did, with the volatility of the current stock market, I would hate to see what that investment would look like right now. I'm sure it would be half of its current value. You strike me as a very intelligent woman, think about doing your own research and own investing. You know how much risk you are willing to tolerate. Personally, I don't like leaving my risk tolerance to someone else. Just my two cents. 1 Link to post Share on other sites
Happy Lemming Posted June 23, 2020 Share Posted June 23, 2020 11 minutes ago, Ruby Slippers said: The one material upgrade I would like to spring for as soon as I can is a house with a swimming pool. My girlfriend was complaining that I didn't have a pool at my house, so I got her one of those adult kiddie pools. It was actually kind of fun and it shut her up. Pools can be very expensive to build, maintain and insure (your house insurance will double with a pool). Moreover, there is the chemicals and upkeep. Also keep in mind that the pumps usually run on 220 volts and eat a lot of electricity. My next door neighbor put a nice in-ground pool in and now regrets it. They hardly ever use it, but the costs keep coming and coming. 1 Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 Thanks, @Happy Lemming. So far I've only had a couple of conversations, and each of those guys gave a few starter tips and also suggested I manage the accounts on my own. One of them named a particular fund he likes. I had already selected my own mutual funds through the 457(b) at work. They're a bit aggressive, have performed above average over many years. (My ex-bf who's a high-level expert in finance helped me pick those out.) I'm sure I'll take a similar approach to my Roth IRA. I also might open up my own non-IRA investing account if I hit the income limit for retirement account investing. What are your thoughts on the stock market volatility during this time? Though it's unnerving, this seems like a pretty good time to start investing. I wish I'd been ready to start back in March when it bottomed out. Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 2 minutes ago, Happy Lemming said: My girlfriend was complaining that I didn't have a pool at my house, so I got her one of those adult kiddie pools. It was actually kind of fun and it shut her up. haha I got one of those. It's fine for enjoying on a float so I can get some sun, but I want the real deal. I like to stay active, and if I had a swimming pool I'd almost certainly swim laps for an hour every day. And of course just float around in bliss. I have neighbors with a gorgeous swimming pool, and I talked to them in depth about the associated costs. I'm definitely factoring in the costs. I know it's a splurge, but it's totally worth it to me. Nothing on the material level would make me happier. Link to post Share on other sites
Happy Lemming Posted June 23, 2020 Share Posted June 23, 2020 1 minute ago, Ruby Slippers said: What are your thoughts on the stock market volatility during this time? Though it's unnerving, this seems like a pretty good time to start investing. I wish I'd been ready to start back in March when it bottomed out. I'm retired and done with sleepless nights worrying about my portfolio. I'm done with the stock market and all of the risk tolerance. Everything I have (now) is either in real estate or risk-free investments. I don't want to go back to work just because I got greedy and tried to make a few extra bucks in the stock market. I'm content with my life. Of course it could be better, but not without risk. Money (for me) was just too hard to come by. A lot of hard work, blood, sweat and tears refurbishing houses; I couldn't see putting it at any type of risk in the stock market, so I steer clear of that game. Again, this is just my opinion based on my own experiences and situation. 1 Link to post Share on other sites
preraph Posted June 23, 2020 Share Posted June 23, 2020 Real estate is hard to lose with. There's times you can't sell something right when you'd like to and there's the taxes, but I wish I had the $$ to keep some properties. My dad always bought real inexpensive places and I think did okay. Link to post Share on other sites
Piddy Posted June 23, 2020 Share Posted June 23, 2020 (edited) 15 minutes ago, Ruby Slippers said: haha I got one of those. It's fine for enjoying on a float so I can get some sun, but I want the real deal. I like to stay active, and if I had a swimming pool I'd almost certainly swim laps for an hour every day. And of course just float around in bliss. I have neighbors with a gorgeous swimming pool, and I talked to them in depth about the associated costs. I'm definitely factoring in the costs. I know it's a splurge, but it's totally worth it to me. Nothing on the material level would make me happier. We had our pool put in 15 years ago in 2005. It's an in ground cement pool. We have a salt generator that eliminates the need for handling chlorine. The salinity level is roughly the same as a tear drop. We're in Florida and have a heater also. We like it around 88-89 degrees. Once you get a feel for your pool, it's a breeze to care for. We only use it from April to October. The cats enjoy the pool area year round though. They don't swim, but lounge on the deck and chase geckos. The one mistake people make when installing a pool is not enough deck space. Try to remember that when putting in your pool. I love floating around in my floatable lounge chair and falling asleep. We just had our pool deck repainted along with the brick coping surrounding the pool. It's beautiful. We love our pool. Edited June 23, 2020 by Piddy 2 1 Link to post Share on other sites
Happy Lemming Posted June 23, 2020 Share Posted June 23, 2020 4 minutes ago, Ruby Slippers said: Nothing on the material level would make me happier. Yes... I have a different mind set. I hate being wet. In my youth, I worked on my uncle's oyster dredge boat. I was miserable and always wet... just not my thing. I think I paid less than $100 for the adult kiddie pool for 'V", so that was OK. If she comes over for a long weekend, I'll dig it out of the garage, inflate it and fill with water. She can splash around in it in her cute blue bikini, while I cook burgers on the Hibachi. 1 Link to post Share on other sites
The Outlaw Posted June 23, 2020 Share Posted June 23, 2020 Trying to avoid the men in white coats. 😉 Ya see? It's finally happened. Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 25 minutes ago, Happy Lemming said: Everything I have (now) is either in real estate or risk-free investments. What are risk-free investments? At this point I can't imagine investing in real estate other than my own home. Dave Ramsey talks about the hassle factor of being a landlord and I've heard stories. Also, I have zero home repair/maintenance skills. I think I'd feel too guilty hiring a property management company. I've just dealt with too many of them where I was a model renter and they were still awful and unethical. Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 19 minutes ago, Piddy said: It's beautiful. We love our pool. Yes, I'm a water baby myself. I imagine I'd spend a lot of time not only in but around the pool. When I go to any nice pool, half the fun is just being there in such a beautiful, serene environment. I'm sure I'd also have a nice jacuzzi, outdoor shower, and of course all my lush tropical plants and flowers surrounding it. 1 Link to post Share on other sites
preraph Posted June 23, 2020 Share Posted June 23, 2020 Me too! I just love just looking at the water. 1 Link to post Share on other sites
Piddy Posted June 23, 2020 Share Posted June 23, 2020 Just now, Ruby Slippers said: Yes, I'm a water baby myself. I imagine I'd spend a lot of time not only in but around the pool. When I go to any nice pool, half the fun is just being there in such a beautiful, serene environment. I'm sure I'd also have a nice jacuzzi, outdoor shower, and of course all my lush tropical plants and flowers surrounding it. Yup, that's what we do. Hang by the pool all day. Very serene listening to the waterfall etc.. The ambiance is very relaxing. We have a TV and mini fridge out there also. It's also beautiful at night with the pool lit. We have an LED light that has a bunch of different colors for the pool. We don't have an outdoor shower or jacuzzi, but plenty of flowers and plants. Let me know when you get serious. Be happy to help with any questions. 1 Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 😍 I love the lights! I'm gonna be in mermaid heaven 🧜♀️ 1 Link to post Share on other sites
Piddy Posted June 23, 2020 Share Posted June 23, 2020 Just now, Ruby Slippers said: 😍 I love the lights! I'm gonna be in mermaid heaven 🧜♀️ Also, great for skinny dipping at night. 😉 1 Link to post Share on other sites
Happy Lemming Posted June 23, 2020 Share Posted June 23, 2020 14 minutes ago, Ruby Slippers said: What are risk-free investments? Dave Ramsey talks about the hassle factor of being a landlord and I've heard stories. Risk free investments = Certificates of Deposits. (CD's) The rate of return is pretty crappy now, but in the past it was nicer. Oh... I'm not a landlord, I'm a mortgage holder. I seller-finance the completed homes to other people. It has minimal risk, no maintenance costs and plenty of return (especially at the beginning of the mortgage). I do have to pay tax on the interest income, but I'm OK paying taxes on my income. 2 Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 Just now, Piddy said: Also, great for skinny dipping at night. 😉 Absolutely! As long as I make sure I have a good fence with no gaps, that will be happening 24/7 😊 Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 1 minute ago, Happy Lemming said: Risk free investments = Certificates of Deposits. (CD's) The rate of return is pretty crappy now, but in the past it was nicer. Oh... I'm not a landlord, I'm a mortgage holder. I seller-finance the completed homes to other people. It has minimal risk, no maintenance costs and plenty of return (especially at the beginning of the mortgage). I do have to pay tax on the interest income, but I'm OK paying taxes on my income. OK. I did just set up my first high-yield savings account for my emergency fund. It was 1.6% when I started, now dropped to 1.35%. I know nothing about being a mortgage holder. I'll have to read up on that. Link to post Share on other sites
Piddy Posted June 23, 2020 Share Posted June 23, 2020 (edited) 10 minutes ago, Ruby Slippers said: Absolutely! As long as I make sure I have a good fence with no gaps, that will be happening 24/7 😊 A good fence with no gaps is a riot. hahahahaha 🤣 Edited June 23, 2020 by Piddy Link to post Share on other sites
Happy Lemming Posted June 23, 2020 Share Posted June 23, 2020 3 minutes ago, Ruby Slippers said: I know nothing about being a mortgage holder. I'll have to read up on that. You can search on terms like "Owner will Carry" and "Seller Financed Homes", etc. The way I've done it... is purchased a fixer-upper home (for cash) in a good area that won't pass inspection, move into it, fix it up and sell it on 30-40 year note. There is no shortage of good people that have been turned down by the bank/mortgage lender because of a blip in their credit history or a past medical debt situation or not enough down payment money. I help them out and get them into a home. Its a WIN-WIN for both parties. 2 Link to post Share on other sites
Ruby Slippers Posted June 23, 2020 Share Posted June 23, 2020 11 minutes ago, Happy Lemming said: You can search on terms like "Owner will Carry" and "Seller Financed Homes", etc. The way I've done it... is purchased a fixer-upper home (for cash) in a good area that won't pass inspection, move into it, fix it up and sell it on 30-40 year note. Thanks for the explanation. This sounds like an interesting approach, but I don't see it working for me, as I have zero home fixit skills, and really wouldn't have any interest in even learning to fix up a home unless I'd be living in it for a very long time. 1 Link to post Share on other sites
Ellener Posted June 24, 2020 Share Posted June 24, 2020 I'm looking into multi-track editing software to transfer my business online. I made a hot drink from soaking garlic, lemon and honey, good for sore throat. @Happy LemmingI like WIN-WIN 2 Link to post Share on other sites
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