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This Houston couple has $2.6 million and no idea where to retire
Posted on 5/15/21 at 3:07 pm
Posted on 5/15/21 at 3:07 pm
quote:
Dear MarketWatch,
My wife and I will turn 59 soon and plan to retire mid-2021 (we’ll both be 59). We currently live in Houston, but want to move somewhere with nice scenery, more moderate weather and less traffic. We can both tolerate heat better than cold. Climate may not be so bad in retirement since we wouldn’t need to shovel the cars out of the snow to go to work every day.
We have both worked steadily for over 35 years; my wife has maxed out Social Security contributions for about 28 years and I have maxed out contributions for 31. We will have about $46,000 in pension income as well as access to retiree medical insurance. We have about $2.6 million in investible assets, no debt and a house worth about $480,000. We expect to spend around $600,000 on a home wherever we end up.
We like nature but also being close to a variety of sit-down restaurants and unique establishments. Our original plan was to move to Cascais, Portugal. The main thing for us is that it has good scenery, good weather and is walkable. But the current virus situation made us reconsider moving out of the U.S. where we would be the “outsiders” for a long time.
We are not “dreaming” of any specific spot or activities; we are pretty flexible in those areas. Enjoyment of our retirement years is the main factor.
We know this isn’t a lot of direction for you to make suggestions on, but I hope you can point out ideas that we had not considered here in the U.S. Work and a few vacations each year is all we’ve done for the past 34 years.
Regards,
L & K
LINK
Is Florida the right answer here? Or maybe Savannah, Georgia?
This post was edited on 5/15/21 at 3:10 pm
Posted on 5/15/21 at 3:09 pm to rickgrimes
Jamaica
West Palm Beach, FL
West Palm Beach, FL
This post was edited on 5/15/21 at 3:10 pm
Posted on 5/15/21 at 3:11 pm to rickgrimes
Also retiring at 59 with only 2.6 mill is suspect
Im shooting to retire at 60 but my number is 5 mill
Im shooting to retire at 60 but my number is 5 mill
Posted on 5/15/21 at 3:12 pm to rickgrimes
They could live like royalty in Bawcomville
Posted on 5/15/21 at 3:15 pm to rickgrimes
Fairhope Alabama near the bay
Posted on 5/15/21 at 3:32 pm to rickgrimes
House on the beach, on cape san blas
relaxing, nice beach, and a perfect place to just watch the sunset and sun go down every day.
relaxing, nice beach, and a perfect place to just watch the sunset and sun go down every day.
Posted on 5/15/21 at 3:34 pm to rickgrimes
They sound like perfect candidates for somewhere on the Gulf coast. Or maybe Savannah or SC somewhere.
Posted on 5/15/21 at 3:34 pm to rickgrimes
The Portugal idea seems solid to me.
Posted on 5/15/21 at 3:34 pm to rickgrimes
Find the 10 best public schools in the south then take your pick from there. The top public schools in a state typically are found in decent areas. With 2.5mil and no debt in the south, retiring at 59 is pretty easy.
Posted on 5/15/21 at 3:44 pm to rickgrimes
Mississippi is the answer.
Posted on 5/15/21 at 3:45 pm to rickgrimes
Charlottesville, VA area maybe? Or Highlands, NC
This post was edited on 5/15/21 at 3:46 pm
Posted on 5/15/21 at 3:48 pm to rickgrimes
quote:
Or maybe Savannah, Georgia?
I really like the GA/NC border area. Like Rabun County and thereabouts. It might be colder than you're looking for but the summers are spectacular. Great scenery, great golf Atlanta's just a couple of hours away for medical care, shopping, air travel etc.
Posted on 5/15/21 at 3:48 pm to rickgrimes
If you never retire you do not need to worry about saving money.
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