(Topic ID: 286379)

Retirement! Hacks, tips and insights to get there faster.

By DadofTwins

3 years ago


Topic Heartbeat

Topic Stats

  • 971 posts
  • 158 Pinsiders participating
  • Latest reply 3 months ago by Zambonilli
  • Topic is favorited by 121 Pinsiders

You

Topic poll

“At what age do you plan on retiring?”

  • 45-55 96 votes
    30%
  • 56-65 169 votes
    53%
  • 65 and over..... 53 votes
    17%

(318 votes)

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#303 3 years ago
Quoted from wtatumjr:

SS is taxable but if you rely on it alone you will pay little tax. It's when you add other income like a 401k things can get worse.
I bought a resort property years ago and rented it out to pay for it. When I retired I moved to the beach property.
The one surprise for me is how little income I need in retirement as I owe nothing for housing or cars. So just because you might need $120k household income now you won't need anything near that in retirement- if you can stand not having that new car.

Where in Corolla are you? I've been considering buying a rental house in Duck.

#306 3 years ago
Quoted from wtatumjr:

I'm in the Currituck Club, north of Duck. I rented for 10 years and now here full time. All rentals are pretty much full. The market has been crazy the last year or so. My house is open for all pinsiders so PM me if in the area.

Thanks, that's a very generous offer. We've stayed in Currituck Club a few times, it's very nice. Like the location and being close to the Harris Teeter, Duck Donuts, and Urban Kitchen!

#307 3 years ago
Quoted from DanMarino:

Buy one! We currently own a beach house in Southern Shores, just south of Duck. It’s a great area and the town of Duck is so nice. Inventory of homes is low because people have been buying them with the low interest rates.

Yeah I've been watching the inventory closely. We've stayed in Southern Shores a couple of times, it's very nice, also like crossing the bridge and being close to home on a Saturday and not needing to be in bumper to bumper traffic for 1-2 hours heading north. Who do you use as your rental agent?

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