What you say is true about IRMAA, etc., but I'm still glad I socked away so much of my income in tax-deferred accounts back then. If I hadn't put so much in my 401(k), I would have just spent the money. I don't need the RMDs to live, so I use them to buy more shares of index funds in my taxable account. I'm way ahead of the game.
Five stars! I agree 100% that an apartment is just a place to sleep and shelter from the weather. I saved a lot of money while living for 12 years in a rent-controlled apartment in San Francisco while working at a high-paying IT job. Now I'm retired, living in the nicest apartment in a relatively LCOL city in the midwest, and have no plans to buy. I like having the money to donate to good causes or to surprise a family member with a gift, but I rent so I can call maintenance when there's a small problem instead of having to call around town trying to find a handyperson willing to fix whatever it is. (I am limited in what I can do myself.) P.S. I'm a widow with no children. If my husband had not died young, we'd probably be living in a house in a remote area of Northern California.
I could afford to buy, but I prefer renting a nice apartment. I like being able to call maintenance when some small thing goes wrong rather than trying to find a handyperson who is willing to come and fix it.
Congratulations! When I was planning to retire from my IT career, I had a Plan B - if I were laid off - and a Plan A where I could choose when to quit. I wasn't laid off, but my IT group was reorganized and our work location changed, meaning a much longer commute. That and some other unpleasant changes made me decide to give six months' notice. Because I was leaving, I didn't have to go to the new location, and I had time to interview and train my replacement. I hope your retirement works out as well for you as mine has for me.
Comments
What you say is true about IRMAA, etc., but I'm still glad I socked away so much of my income in tax-deferred accounts back then. If I hadn't put so much in my 401(k), I would have just spent the money. I don't need the RMDs to live, so I use them to buy more shares of index funds in my taxable account. I'm way ahead of the game.
Post: Trouble Ahead
Link to comment from February 6, 2025
Five stars! I agree 100% that an apartment is just a place to sleep and shelter from the weather. I saved a lot of money while living for 12 years in a rent-controlled apartment in San Francisco while working at a high-paying IT job. Now I'm retired, living in the nicest apartment in a relatively LCOL city in the midwest, and have no plans to buy. I like having the money to donate to good causes or to surprise a family member with a gift, but I rent so I can call maintenance when there's a small problem instead of having to call around town trying to find a handyperson willing to fix whatever it is. (I am limited in what I can do myself.) P.S. I'm a widow with no children. If my husband had not died young, we'd probably be living in a house in a remote area of Northern California.
Post: Home Free
Link to comment from January 16, 2025
I could afford to buy, but I prefer renting a nice apartment. I like being able to call maintenance when some small thing goes wrong rather than trying to find a handyperson who is willing to come and fix it.
Post: Rent Forever?
Link to comment from January 9, 2025
I agree with you about RMDs. The market goes up and down and I always hope it's not way up on the last business day of the year.
Post: Don’t Expect a Repeat
Link to comment from December 22, 2024
Thank you for your post and the link to the video. I love it and will share it with my friends.
Post: Forget You
Link to comment from December 19, 2024
I'm sad and sorry about this news. I've learned a lot from you over the years. Thank you.
Post: The C Word
Link to comment from June 15, 2024
Congratulations! When I was planning to retire from my IT career, I had a Plan B - if I were laid off - and a Plan A where I could choose when to quit. I wasn't laid off, but my IT group was reorganized and our work location changed, meaning a much longer commute. That and some other unpleasant changes made me decide to give six months' notice. Because I was leaving, I didn't have to go to the new location, and I had time to interview and train my replacement. I hope your retirement works out as well for you as mine has for me.
Post: Count Me Out
Link to comment from May 10, 2024
Thank you for that link!
Post: Long Odds
Link to comment from May 4, 2024
It all sounds wonderful! I'm glad it's working out for you.
Post: Gift to Myself
Link to comment from April 12, 2024
Thank you for explaining the pros and cons.
Post: Aging With Others
Link to comment from April 10, 2024