Affordable property within walking distance of the Atlantic Ocean

[LoboGunLeather]

Oh, I thought you were at least 59. You and I are similar in that regard. I’m 55 and 18 months retired. Spending money you’ve been sitting on for 30 years is a strange feeling. Suddenly the money is real. Not just a bunch of numbers on a statement.

In addition to that I have found it impossible to break the habits of a lifetime of working, saving, and investing. The thought of spending interest or dividend income is difficult for me to wrap my mind around. I'm still concentrating on making sure my wife is provided for in the event I must check out.

Way too many years of too much month left at the end of the money! Now that we actually have comfortable retirement and investment accounts I receive a lot of pleasure by continuing to grow them.

We are now into the RMD years, take the minimum withdrawals and pay the taxes or suffer the penalties without seeing the money. Fortunately, with 9 grandchildren and 9 great-grandchildren there are very few times when cash infusions aren't needed somewhere, and we can do it without having to tighten our belts.

Of course, after taking the RMD the net amount becomes after-tax money that can go into savings and maybe grow a little more.

Mixed feelings, for sure. Those old habits are tough to break.

 

[boykinlp]

Atlantic ocean? How about Central or South America, for cheaper places?

I’ve been to Costa Rica a few times, of course, I haven’t been in 20 years. But, back then beachfront property was plentiful and fairly inexpensive! From what I understand, since then, a lot of German conglomerates came in and bought large tracts and built hotels. I still would check it out. The fishing was spectacular!

Property values up 100-150% over the past 10 years. Property taxes more than doubled. Homeowner insurance more than doubled.

Our retirement funds have also doubled in value, our investment accounts are up 150%, and the savings accounts have doubled. We are now into Required Minimum Distributions on qualified accounts and even taking the minimums to avoid tax penalties the accounts continue to grow.

I figure it's all just Monopoly money, the numbers don't really mean anything. Better to have it than not, of course, but I've stopped worrying about it so much.

What puts you into Required Minimum Distributions?
Larry

 

[rwsmith]

I walked....

I know people that have walked the entire Appalachian Trail (app 2200 mi), so how far ya talkin bout walkin?

...a LITTLE bit of the Appalachian trail.

 

[ladder13]

I’ve been to Costa Rica a few times, of course, I haven’t been in 20 years. But, back then beachfront property was plentiful and fairly inexpensive! From what I understand, since then, a lot of German conglomerates came in and bought large tracts and built hotels. I still would check it out. The fishing was spectacular!



What puts you into Required Minimum Distributions?
Larry

………….Age…………..

 

[Skeet 028]

Just talked to my friend who has a place on the beach in OC. Asked if he wanted to sell. He said yes...He'd take 475 for it.. Nice place if you like beach...and people. Then I talked to his wife..Said the only way he'd sell was over her dead body. He was mumbling about a hit man and a taxidermist when he hung up. He's not much on beach or people either. Both farmers from the Eastern Shore... we did hunt waterfowl together though

 

[5spotter]

"Real estate at the beach is like a Registered Magnum in its original box. Always desirable, but previously much more affordable. $1000 for that Registered Magnum in its original box. Then, as it started to escalate in price, the numbers stated finite, but interest increased, causing value to further increase. Now that a Registered Magnum in an original box is at least a 10k item, interest is as high as ever. And the same with properties hear the ocean. Interest is nearly as high as ever, as are valuations. Both seem like bubbles. Both can come crashing down. But, probably unlikely to happen."

Exactly mrcvs. They're not making any more of it. It's like a Topps 300 Willie Mays or your Registered Magnum. The demand is well established. It's got a history you can see. My guess is the demand for coastal real estate isn't going anywhere.

Some places growth continues in ever widening circles, like Phoenix. That can't happen in a place with a hard boundary, like a beach or mountain town- or most places to some degree.

50 years from now the demand for coastal real estate will still be here. Values for the property, the Topps 300 or a RM will rise and fall but the bottom of the market won't fall out. There's just a higher entry point to get in.

 

[AJ]

Just talked to my friend who has a place on the beach in OC. Asked if he wanted to sell. He said yes...He'd take 475 for it.. Nice place if you like beach...and people. Then I talked to his wife..Said the only way he'd sell was over her dead body. He was mumbling about a hit man and a taxidermist when he hung up. He's not much on beach or people either. Both farmers from the Eastern Shore... we did hunt waterfowl together though

Orange County, Calif.?