We rented our house out while spending several years in Europe. Whilst we have some maintenance work to perform, I very much appreciate that the duration of our stay in our house is our decision and not that of a landlord.
Many thanks Rick for highlighting the VITA program. I am also a volunteer with AARP Tax-Aide and it provides great assistance for numerous taxpayers and is a very satisfying commitment. I would encourage anyone who is currently able to do their own taxes to consider volunteering for the program. The training is excellent and will also enhance your understanding of your own tax situation.
While the Senior Golden Pass is definitely a bargain, there is a danger we are loving our National Parks to death. Deferred maintenance FY 2023 was over $20 Billion. Perhaps we should consider paying more to visit these great places to ensure they are preserved for future generations to also enjoy.
Perhaps it is time to stop optimizing your real estate portfolio and start simplifying your life and assets. I have a friend who has several rental properties and he'll definitely die with more than me, but I've done a lot more travel and bicycle rides than him!
1) Healthcare costs are either paid for by "extra" taxes (UK model) or as part of the cost of goods and services (US employer provided coverage, excluding Medicare, Medicaid). 2) Populations are living longer and there are now more healthcare services available than we can probably afford as a society - e.g. joint replacements, cardiac operations, cancer treatments, all types of scans and tests, extensive end of life care, to name but a few as well as the cost of drugs for numerous conditions and diseases. Individual patients want everything because it's their life which is at risk while nobody wants to pay for it all.
Hi Matt, I burned out / retired early in 2015 figuring that we had about enough assets based on the 4% rule with 95% in stocks (index mutual funds/EFTs), 5% in cash and no mortgage or debt. Dividends provide about 2% of our income annually and even with some stock sales our portfolio has doubled, though who knows if it will do as well in the next 10 years. We have spent the past 2+ years traveling in Europe and have not regretted the 2015 decision at all. Go for it while you still are young enough to take full advantage of your mental and physical health.
Great post, Michael. We are traveling in Europe for 2+ years. Initially we obtained a one year visa and now we are doing the 90/180 days in Schengen with the other 90+ in the UK / Ireland. We have Google voice #s for US calls and a mobile plan from Free in France. We have a medical insurance policy for accidents and have just paid for other medical and dental expenses out of pocket - mostly in the UK.
Hi Richard - great article to inform about this. For couples MFJ, does "the lifetime" apply to both taxpayers jointly or individually - the IRS instructions for Form 8889 states "You can make only one qualified HSA funding distribution during your lifetime." e.g. is it possible for a husband and wife to each contribute $8750 from their respective IRAs over a two year period?
In 1997, after working for a few years I started an evening class MBA course. In the first Finance class, the professor said that there were only two people, Warren Buffett and Peter Lynch, who have beaten the market on a risk-adjusted basis over a long time period. Therefore he recommended investing in index funds because 'being average' was the best one could do. 25+ years later I'm very happy with his advice.
Comments:
We rented our house out while spending several years in Europe. Whilst we have some maintenance work to perform, I very much appreciate that the duration of our stay in our house is our decision and not that of a landlord.
Post: Rent Forever?
Link to comment from January 9, 2025
Many thanks Rick for highlighting the VITA program. I am also a volunteer with AARP Tax-Aide and it provides great assistance for numerous taxpayers and is a very satisfying commitment. I would encourage anyone who is currently able to do their own taxes to consider volunteering for the program. The training is excellent and will also enhance your understanding of your own tax situation.
Post: Thank you, IRS!
Link to comment from November 18, 2024
While the Senior Golden Pass is definitely a bargain, there is a danger we are loving our National Parks to death. Deferred maintenance FY 2023 was over $20 Billion. Perhaps we should consider paying more to visit these great places to ensure they are preserved for future generations to also enjoy.
Post: Read This for FREE!
Link to comment from September 10, 2024
Perhaps it is time to stop optimizing your real estate portfolio and start simplifying your life and assets. I have a friend who has several rental properties and he'll definitely die with more than me, but I've done a lot more travel and bicycle rides than him!
Post: Covid and Money Fever by Steve Abramowitz
Link to comment from September 3, 2024
1) Healthcare costs are either paid for by "extra" taxes (UK model) or as part of the cost of goods and services (US employer provided coverage, excluding Medicare, Medicaid). 2) Populations are living longer and there are now more healthcare services available than we can probably afford as a society - e.g. joint replacements, cardiac operations, cancer treatments, all types of scans and tests, extensive end of life care, to name but a few as well as the cost of drugs for numerous conditions and diseases. Individual patients want everything because it's their life which is at risk while nobody wants to pay for it all.
Post: This deserves a rant. The United States approach to paying for healthcare is a joke.
Link to comment from August 16, 2024
Hi Matt, I burned out / retired early in 2015 figuring that we had about enough assets based on the 4% rule with 95% in stocks (index mutual funds/EFTs), 5% in cash and no mortgage or debt. Dividends provide about 2% of our income annually and even with some stock sales our portfolio has doubled, though who knows if it will do as well in the next 10 years. We have spent the past 2+ years traveling in Europe and have not regretted the 2015 decision at all. Go for it while you still are young enough to take full advantage of your mental and physical health.
Post: A Big Question For Me Heading Into Retirement
Link to comment from August 12, 2024
We had a 1 year French Visa de Longue Sejour so we could stay in Schengen for longer than 90 days out of 180.
Post: Our Nomadic Life
Link to comment from June 5, 2024
Great post, Michael. We are traveling in Europe for 2+ years. Initially we obtained a one year visa and now we are doing the 90/180 days in Schengen with the other 90+ in the UK / Ireland. We have Google voice #s for US calls and a mobile plan from Free in France. We have a medical insurance policy for accidents and have just paid for other medical and dental expenses out of pocket - mostly in the UK.
Post: Our Nomadic Life
Link to comment from June 5, 2024
Hi Richard - great article to inform about this. For couples MFJ, does "the lifetime" apply to both taxpayers jointly or individually - the IRS instructions for Form 8889 states "You can make only one qualified HSA funding distribution during your lifetime." e.g. is it possible for a husband and wife to each contribute $8750 from their respective IRAs over a two year period?
Post: Roll This Way
Link to comment from August 28, 2023
In 1997, after working for a few years I started an evening class MBA course. In the first Finance class, the professor said that there were only two people, Warren Buffett and Peter Lynch, who have beaten the market on a risk-adjusted basis over a long time period. Therefore he recommended investing in index funds because 'being average' was the best one could do. 25+ years later I'm very happy with his advice.
Post: What are the smartest financial moves you’ve ever made?
Link to comment from June 19, 2023