Having lived in central N.Carolina and northern California; there's no doubt which has the better weather and costs. CA for weather and NC for living expenses. I'm all about comfort as I age, thus live in CA. (Plus, our daughter's family lives only a couple of hours away.)
Good hot water heaters last about 20 years if you yearly drain about 2 or 3 gallons of water. I replace mine every 18 years; don't want a catastrophic leak. Whole house air conditioning units last about 20 years also. I replace mine at 18 years during the winter; don't want a summertime failure when air conditioning companies are sometimes backed up for 3 weeks. And BTW, water heater's and air conditioner's technology gets better and better so it makes financial sense - your utility bills get lower with newer products.
It took a couple of years when I was in my early 30s, but I learned the way to make a small fortune. Commodities! OJ, Gold, Soy Beans, feeder cattle, etc. The secret was to start with a large fortune. Getting caught short OJ with a Florida freeze cured me. Mutual funds in the 80s and now ETFs have steadied the boat and I don't have sleepless nights worrying about a freeze in Florida.
I'm retired with several streams of taxable income. I massively under withhold taxes until December. Why let government have use of my money all year long? Every odd year's December, I pay the feds a huge amount straight from an IRA - usually an extra couple hundred which obviously comes back to me as a refund. Every even year's December, I send the feds about 92% of what's due -again straight from an IRA. My accountant tells me that money from an IRA to pay taxes is treated by our government as coming in throughout the year regardless if you send it lump sum. And the 92% number is because I don't want to underpay more than 10% and then be forced to pay quarterly. (I did my own taxes with a stubby pencil until 1990 when I bought a computer and used Turbo Tax (and its precursor) until they wanted to charge extra for capital gains forms. Then I changed to H&R until I acquired a rental house and didn't want to learn the depreciation game.)
Interesting experience. I've done it twice with Wells (checking only)- both times for $300. Closed accounts after about 7 or 8 months. I've also done it with Chase - twice. Each time for $900 (savings, checking, and monthly automatic deposit). I'm keeping my most recently opened Chase account because the benefits for a retired military guy are really outstanding.
After reading this article and its subsequent comments, I'm convinced to never ever use VRBO for anything. We run an AirB&B and are happy with their system....and use AirB&Bs when we travel.
Whistling past the graveyard is what my grandfather used to say. I foresee a significant reduction in Social Security benefits for those of us who have diligently saved for an extended retirement. If I had it to do over again, I'd have filed at 62. I think that most of HD readers and contributors fall into the category of diligent savers.
Thanks for an interesting story. I also learned from AAII back in the late '70s and have been a lifetime member since '85. Their monthly articles are all an investor needs. I, too, made early mistakes like palladium, gold, live cattle, and orange juice before I came to my senses.
Comments
Having lived in central N.Carolina and northern California; there's no doubt which has the better weather and costs. CA for weather and NC for living expenses. I'm all about comfort as I age, thus live in CA. (Plus, our daughter's family lives only a couple of hours away.)
Post: California On Our Minds
Link to comment from March 8, 2025
Good hot water heaters last about 20 years if you yearly drain about 2 or 3 gallons of water. I replace mine every 18 years; don't want a catastrophic leak. Whole house air conditioning units last about 20 years also. I replace mine at 18 years during the winter; don't want a summertime failure when air conditioning companies are sometimes backed up for 3 weeks. And BTW, water heater's and air conditioner's technology gets better and better so it makes financial sense - your utility bills get lower with newer products.
Post: Replacing the Replacement
Link to comment from March 8, 2025
It took a couple of years when I was in my early 30s, but I learned the way to make a small fortune. Commodities! OJ, Gold, Soy Beans, feeder cattle, etc. The secret was to start with a large fortune. Getting caught short OJ with a Florida freeze cured me. Mutual funds in the 80s and now ETFs have steadied the boat and I don't have sleepless nights worrying about a freeze in Florida.
Post: My Mistakes by Jonathan Clements
Link to comment from February 24, 2025
I'm retired with several streams of taxable income. I massively under withhold taxes until December. Why let government have use of my money all year long? Every odd year's December, I pay the feds a huge amount straight from an IRA - usually an extra couple hundred which obviously comes back to me as a refund. Every even year's December, I send the feds about 92% of what's due -again straight from an IRA. My accountant tells me that money from an IRA to pay taxes is treated by our government as coming in throughout the year regardless if you send it lump sum. And the 92% number is because I don't want to underpay more than 10% and then be forced to pay quarterly. (I did my own taxes with a stubby pencil until 1990 when I bought a computer and used Turbo Tax (and its precursor) until they wanted to charge extra for capital gains forms. Then I changed to H&R until I acquired a rental house and didn't want to learn the depreciation game.)
Post: Easy Does It
Link to comment from February 23, 2025
Interesting experience. I've done it twice with Wells (checking only)- both times for $300. Closed accounts after about 7 or 8 months. I've also done it with Chase - twice. Each time for $900 (savings, checking, and monthly automatic deposit). I'm keeping my most recently opened Chase account because the benefits for a retired military guy are really outstanding.
Post: Making Me Earn It
Link to comment from November 17, 2024
After reading this article and its subsequent comments, I'm convinced to never ever use VRBO for anything. We run an AirB&B and are happy with their system....and use AirB&Bs when we travel.
Post: Headache for Rent
Link to comment from April 17, 2024
Whistling past the graveyard is what my grandfather used to say. I foresee a significant reduction in Social Security benefits for those of us who have diligently saved for an extended retirement. If I had it to do over again, I'd have filed at 62. I think that most of HD readers and contributors fall into the category of diligent savers.
Post: Farewell to Forever
Link to comment from March 6, 2024
Yes! Number 10 is exemplified continually by George Soros and family.
Post: What Lies Beneath
Link to comment from February 25, 2024
Thanks for an interesting story. I also learned from AAII back in the late '70s and have been a lifetime member since '85. Their monthly articles are all an investor needs. I, too, made early mistakes like palladium, gold, live cattle, and orange juice before I came to my senses.
Post: For the Fun of It
Link to comment from February 21, 2024
Your third sentence - didn't you mean "bear", not "bull"?
Post: Lean Against the Wind
Link to comment from December 23, 2023