Picking a spot to retire

Great post.........I'll be keeping my eye on this one. Still have at least another 5 years before retiring but sometimes things change.

Hey Ken,

We've never met, but I put so much time and effort into studying "retirement" options that people at work used to joke that I should become a retirement counselor.  And my company put on some pretty good retirement seminars that I learned allot from.

With that said do a deep dive into the finances of moving, what will be your ongoing expenses for the rest of your life where you are vs where you might move.

Lots of details deep down that can surprise you.  IE I have Kaiser partially paid for by my x employer, plus Medicare part B. That combo gives me phenomenally good care with almost no additional cost. BUT if I was to move out of the Kaiser service area my medical would change drastically.  I only throw that out as something I mean when I say deep dive.

Another thing to think about if moving, I plan (at least want) to move closer to my grandkids, house costs even being equal says I can afford the house, but my prop tax will triple as I've been where I'm at for 25 yrs.

Lots of things to consider, sounds like you're not in a hurry, and yeah my observations tend to be downside, bummer stuff, but better to know than not.  I had a good retirement plan laid out but it didn't include tripling my prop tax, Oh well!!

Actually pretty exciting looking towards the next chapter.

In a couple of weeks I will have my house paid off in full. Prices are absolutely ridiculous and I really can't imagine how people are managing to buy in the Bay Area right now.

Something by the coast would be nice either up North or South of the boarder 

Sometimes I think it's just a pipe dream but at least I'm dreaming good 

Got you on speed dial Dale as my retirement expert.

Great post.........I'll be keeping my eye on this one. Still have at least another 5 years before retiring but sometimes things change.

Hey Ken,

We've never met, but I put so much time and effort into studying "retirement" options that people at work used to joke that I should become a retirement counselor.  And my company put on some pretty good retirement seminars that I learned allot from.

With that said do a deep dive into the finances of moving, what will be your ongoing expenses for the rest of your life where you are vs where you might move.

Lots of details deep down that can surprise you.  IE I have Kaiser partially paid for by my x employer, plus Medicare part B. That combo gives me phenomenally good care with almost no additional cost. BUT if I was to move out of the Kaiser service area my medical would change drastically.  I only throw that out as something I mean when I say deep dive.

Another thing to think about if moving, I plan (at least want) to move closer to my grandkids, house costs even being equal says I can afford the house, but my prop tax will triple as I've been where I'm at for 25 yrs.

Lots of things to consider, sounds like you're not in a hurry, and yeah my observations tend to be downside, bummer stuff, but better to know than not.  I had a good retirement plan laid out but it didn't include tripling my prop tax, Oh well!!

Actually pretty exciting looking towards the next chapter.

In a couple of weeks I will have my house paid off in full. Prices are absolutely ridiculous and I really can't imagine how people are managing to buy in the Bay Area right now.

Something by the coast would be nice either up North or South of the boarder 

Sometimes I think it's just a pipe dream but at least I'm dreaming good 

Got you on speed dial Dale as my retirement expert.

So I'm 32 and have only 1 more year into I'm fully invested in Calpers... With all this talk of out of state  retirement,  should I consider leaving now and start a new retirement where I want to be? Sac is not bad, pretty centrally located from everything good Sierras, ocean, etc. And it's starting to boom but housing is getting expensive AF and I'm not sure it's ever gonna go back down like it was again. Just thinking..

Antonio,  where abouts you thinking below the border? I heard Mexico can be A Great retirement destination and can be right on the coast. Only thing I heard you have to buy through third party realtors and it's actually a very long lease and not ever officially yours? Is that true? School a young grasshopper up...trying to make wise investments now

Come look at the weimar/colfax area...  All here and close to bodega halfmoon bay... Lakes, high country rivers, delta, Lower american river. Night life, shows, all within 20min to 4 hrs. Bat cave found! Space to store trailers, boats etc... Love where I live! Still some stuff selling reasonable... Come to weimar!!!

Come look at the weimar/colfax area...  All here and close to bodega halfmoon bay... Lakes, high country rivers, delta, Lower american river. Night life, shows, all within 20min to 4 hrs. Bat cave found! Space to store trailers, boats etc... Love where I live! Still some stuff selling reasonable... Come to weimar!!!

I hear the neighbors are assholes up there!   

-Allen

Come look at the weimar/colfax area...  All here and close to bodega halfmoon bay... Lakes, high country rivers, delta, Lower american river. Night life, shows, all within 20min to 4 hrs. Bat cave found! Space to store trailers, boats etc... Love where I live! Still some stuff selling reasonable... Come to weimar!!!

I hear the neighbors are assholes up there!   

-Allen

Just don't be a dick.... Hahahahaha! Best Neighbors, all minding their own business most of the time.

I've thought about it for a while and I'm not sure. I like temperate climates. I don't like humidity and I won't ever shovel snow. I want evenings to stay cool and stay outdoorsy.  I think it's gonna be southern oregon for me, or possibly eureka.  I've got a few more to go until retirement though, another 27 years before I hit my pension. 

Just gonna sit back and keep saving money, and if the housing market ever softens where I want to go I'll take a jump and maybe try to buy the retirement house early. 

Maybe I'll just invest in gold.

Great post.........I'll be keeping my eye on this one. Still have at least another 5 years before retiring but sometimes things change.

Hey Ken,

We've never met, but I put so much time and effort into studying "retirement" options that people at work used to joke that I should become a retirement counselor.  And my company put on some pretty good retirement seminars that I learned allot from.

With that said do a deep dive into the finances of moving, what will be your ongoing expenses for the rest of your life where you are vs where you might move.

Lots of details deep down that can surprise you.  IE I have Kaiser partially paid for by my x employer, plus Medicare part B. That combo gives me phenomenally good care with almost no additional cost. BUT if I was to move out of the Kaiser service area my medical would change drastically.  I only throw that out as something I mean when I say deep dive.

Another thing to think about if moving, I plan (at least want) to move closer to my grandkids, house costs even being equal says I can afford the house, but my prop tax will triple as I've been where I'm at for 25 yrs.

Lots of things to consider, sounds like you're not in a hurry, and yeah my observations tend to be downside, bummer stuff, but better to know than not.  I had a good retirement plan laid out but it didn't include tripling my prop tax, Oh well!!

Actually pretty exciting looking towards the next chapter.

In a couple of weeks I will have my house paid off in full. Prices are absolutely ridiculous and I really can't imagine how people are managing to buy in the Bay Area right now.

Something by the coast would be nice either up North or South of the boarder 

Sometimes I think it's just a pipe dream but at least I'm dreaming good 

Got you on speed dial Dale as my retirement expert.

So I'm 32 and have only 1 more year into I'm fully invested in Calpers... With all this talk of out of state  retirement,  should I consider leaving now and start a new retirement where I want to be? Sac is not bad, pretty centrally located from everything good Sierras, ocean, etc. And it's starting to boom but housing is getting expensive AF and I'm not sure it's ever gonna go back down like it was again. Just thinking..

Antonio,  where abouts you thinking below the border? I heard Mexico can be A Great retirement destination and can be right on the coast. Only thing I heard you have to buy through third party realtors and it's actually a very long lease and not ever officially yours? Is that true? School a young grasshopper up...trying to make wise investments now

East Cape maybe....

Fideicomiso is the answer to your question grasshopper.


MEXICAN PROPERTY TRUSTS (FIDEICOMISO)

Foreign citizens who wish to buy property within designated regions of Mexico are required to obtain a "Fideicomiso" (fee-day-co-me-so), which functions as a Mexican Property Trust.

In 1994, amendments to the Constitution permitted foreigners to purchase and own real estate in Mexico located within the "restricted zone" which is all land within 60 miles of a national border and within 30 miles of the Mexican Coast, which includes all real estate in Los Cabos. This Law permitted ownership through a property trust or "Fideicomiso".

The way the Fideicomiso works is the Mexican Government issues a permit to a Mexican Bank of your choice, allowing the bank to act as purchaser for the property. The bank acts as the "Trustee" for the Trust and you are the "Beneficiary" of the Trust. The "Beneficiary" rights are very similar to Living Wills or Estate Trusts in the U.S.

The bank, as trustee, takes instructions only from the beneficiary of the trust (the foreign purchaser). The beneficiary has the right to use, occupy and possess the property, including the right to build on it or otherwise improve it. The beneficiary may also sell the rights and instruct the trustee to transfer title to a qualified owner.

Many people refer to the trust arrangement in Mexico as a lease agreement... this is not true. The home or property that you buy will be put into a trust with you named as the beneficiary of the trust - you are not a lessee. You have all the rights that an owner of property in the U.S. or Canada has, including the right to enjoy the property, sell the property, rent the property, improve the property, etc.

The initial term of the trust is 50 years. An investor can renew the trust for an additional period of 50 years within the last year of each 50-year period, and this process can be continued indefinitely, providing for long-term control of the asset.

I will be moving to Ohio when it's time for me to settle down.  Rural life suits me much better. Pick up the local freshwater fishing and take a couple Alaska/Mexico fishing trips a year and i'm good.

I can relate to that, as I grew up in rural Iowa and most of my extended family is still in that area. But my first choice would be Wyoming. Of course, I've never been to Wyoming in the winter, and I hear it gets cold there...

From someone that spent five winters in Wy, go there for an extended bit first.  While it is quite a bit warmer than it was 30 years ago-- depending on where you want to end up it still drops well, well below zero.  Square tires cold.  Oil the consistency of a softball cold.

I'm looking around Prescott...

Great post.........I'll be keeping my eye on this one. Still have at least another 5 years before retiring but sometimes things change.

Hey Ken,

We've never met, but I put so much time and effort into studying "retirement" options that people at work used to joke that I should become a retirement counselor.  And my company put on some pretty good retirement seminars that I learned allot from.

With that said do a deep dive into the finances of moving, what will be your ongoing expenses for the rest of your life where you are vs where you might move.

Lots of details deep down that can surprise you.  IE I have Kaiser partially paid for by my x employer, plus Medicare part B. That combo gives me phenomenally good care with almost no additional cost. BUT if I was to move out of the Kaiser service area my medical would change drastically.  I only throw that out as something I mean when I say deep dive.

Another thing to think about if moving, I plan (at least want) to move closer to my grandkids, house costs even being equal says I can afford the house, but my prop tax will triple as I've been where I'm at for 25 yrs.

Lots of things to consider, sounds like you're not in a hurry, and yeah my observations tend to be downside, bummer stuff, but better to know than not.  I had a good retirement plan laid out but it didn't include tripling my prop tax, Oh well!!

Actually pretty exciting looking towards the next chapter.

In a couple of weeks I will have my house paid off in full. Prices are absolutely ridiculous and I really can't imagine how people are managing to buy in the Bay Area right now.

Something by the coast would be nice either up North or South of the boarder 

Sometimes I think it's just a pipe dream but at least I'm dreaming good 

Got you on speed dial Dale as my retirement expert.

So I'm 32 and have only 1 more year into I'm fully invested in Calpers... With all this talk of out of state  retirement,  should I consider leaving now and start a new retirement where I want to be? Sac is not bad, pretty centrally located from everything good Sierras, ocean, etc. And it's starting to boom but housing is getting expensive AF and I'm not sure it's ever gonna go back down like it was again. Just thinking..

Antonio,  where abouts you thinking below the border? I heard Mexico can be A Great retirement destination and can be right on the coast. Only thing I heard you have to buy through third party realtors and it's actually a very long lease and not ever officially yours? Is that true? School a young grasshopper up...trying to make wise investments now

East Cape maybe....

Fideicomiso is the answer to your question grasshopper.

Niiiiiccceeee bro! Definitely gonna look Into them. Thanks man. We went to Porto  Nuevo, 30 mins north of Ensenada a few years back and stayed at a friends of a friends house in private gated community right on the ocean. Houses were nothing that fancy but nice as they made them. Could hear the ocean waves slamming Into the wall just below the house. At the time they were only going for avg. 120-150k

My brother is currently building a home on the East Cape. We both bought lots years ago just minutes north of Los Barriles and the arroyos. We each split our lots awhile back. My brother's lots are about 75 yards from the beach and mine are about 125 yards from the beach. The home/lots have beautiful views of the whole bay ...north and south. We purchased the lots using fideicomisos.  I am possibly selling one lot at this time and the couple might form a Mexican corporation to buy that lot...

I am waiting to see my Brother's "all in costs" for construction before I decide on whether to build or not. I can see me spending many months a year down there while keeping my home up here. Possibly doing the short term rental on both properties as well while either is vacant.  It's all a dream but that's what keeps me working so hard. I need to sell a development property in Ukiah before any real move can be made...

Meanwhile we are getting closer to finishing the new "downsized" home here in West Cotati. This house will be our last and have no plans of ever leaving Sonoma County.

Looking good Allen!

ABC...Anywhere But California... I would be gone now if I weren't so vested in my career here. But as soon as I am done, Im gone.  All of our family camping trips are more like scouting trips.  Idaho or Oregon are looking pretty good.  I like Oregon because I really dont want to give up the ocean.

I hope everybody who complains about CA moves away. Because I’m tired of hearing all the whining. 

But, if you want to live near the coast for a reasonable price, there ARE options out there. Like that little town named Shelter Cove. Or, just off the top of my head: Arcata/Eureka, Ft Bragg or Mendo, Pt Arena, Gualala on the north coast. Watsonville, Prunedale, Castroville, Marina/Seaside in the Monterey bay area...or down by Cambria/Cayocus/Morro...but Santa Maria is the farthest south I’d want to live, permanently. These are all places where you can buy a real house for under $300 right now, and live on the beach. Just saying.

I hope everybody who complains about CA moves away. Because I’m tired of hearing all the whining. 

But, if you want to live near the coast for a reasonable price, there ARE options out there. Like that little town named Shelter Cove. Or, just off the top of my head: Arcata/Eureka, Ft Bragg or Mendo, Pt Arena, Gualala on the north coast. Watsonville, Prunedale, Castroville, Marina/Seaside in the Monterey bay area...or down by Cambria/Cayocus/Morro...but Santa Maria is the farthest south I’d want to live, permanently. These are all places where you can buy a real house for under $300 right now, and live on the beach. Just saying.

What are the neighborhoods like if not so n the beach? My house is probably not up to $600k. Are there neighborhoods where you can park you truck with a kayak locked on it without worry under $200k?

I hope everybody who complains about CA moves away. Because I’m tired of hearing all the whining. 

But, if you want to live near the coast for a reasonable price, there ARE options out there. Like that little town named Shelter Cove. Or, just off the top of my head: Arcata/Eureka, Ft Bragg or Mendo, Pt Arena, Gualala on the north coast. Watsonville, Prunedale, Castroville, Marina/Seaside in the Monterey bay area...or down by Cambria/Cayocus/Morro...but Santa Maria is the farthest south I’d want to live, permanently. These are all places where you can buy a real house for under $300 right now, and live on the beach. Just saying.

What are the neighborhoods like if not so n the beach? My house is probably not up to $600k. Are there neighborhoods where you can park you truck with a kayak locked on it without worry under $200k?

You can probably get a tiny house and park it Timber Cove then hang out with Brenda for less than 100K! Fishing at your doorstep!