Countdown to retirement

[disykat]

Everyone. I don't know all the ins and outs since DH and I were exempted due to how close we were to retirement, but if you do not have proof of your own LTC insurance you are enrolled in the state plan and it is deducted like state income taxes would be in other states. - We don't have state income tax otherwise, we have sales tax.

 

[georgina]

Read all about it! WA Cares Fund

Interesting. He works for a small company in New Jersey, I wonder if they even know about it, since it seems to be a payroll deduction.

 

[AlohaNow]

If I may ask, why are you taking SS at 62?

The simplest answer is because my spreadsheet tells me I can!

 

[china mom]

At 57 4.5-5 million would be considered a no worries retirement for most everyone with a $200,000 annual budget using the traditional 4% rule. It really all depends on your spending habits and if you live in a high cost of living location if that number works for you. If your house is paid off and all you need to worry about are insurances, property taxes, maintenance, utilities etc, a lot of that pot becomes fun money. However, if you have a large house to maintain those costs can be very expense as a new roof on a 4000K sq ft house is about 100K by us vs $25k for a 1400 sq ft house. I think it's important to sit down together as a couple and map what you see as your wants, needs and goals in retirement and once you have that it's easier to focus in on a number that you need to achieve. With so many financial calculators available on the internet, I don't think it's necessary to sit down with a financial planner if you have been maintaining your assets and investments on your own all along and are financially savvy. Too many just want a cut of off the top of your investments without doing anything different than you can do yourself.

Where you live would e a huge factor in this. We replaced our roof on a 5,000 sq ft house for $18K in 2019. I would have a heart attack paying $100K.

 

[princesscinderella]

Where you live would e a huge factor in this. We replaced our roof on a 5,000 sq ft house for $18K in 2019. I would have a heart attack paying $100K.

I agree we live in SoFla which has become so expensive and contractors will take your money and not show up so the big companies know they can get away with charging more because they aren’t scammers. We also have very strict codes with extra roofing supplies needed for hurricane protection.

 

[greeneyedchick]

Where you live would e a huge factor in this. We replaced our roof on a 5,000 sq ft house for $18K in 2019. I would have a heart attack paying $100K.

I live near Orlando and need a new roof. The quotes I got are between $98,000-$138,000 for a spanish tile concrete roof (required by the HOA). House is single story, 5000 sq. ft.

 

[hrhdhd]

I live near Orlando and need a new roof. The quotes I got are between $98,000-$138,000 for a spanish tile concrete roof (required by the HOA). House is single story, 5000 sq. ft.

Out of curiosity, are you replacing an existing Spanish tile roof? How old is it? I thought those lasted a long time.

 

[NotUrsula]

I live near Orlando and need a new roof. The quotes I got are between $98,000-$138,000 for a spanish tile concrete roof (required by the HOA). House is single story, 5000 sq. ft.

Unfortunately, Spanish-tile is the most expensive roofing material available other than natural cut slate. It's very pretty, but the roof tends to cost as much again as the house did, so most people I know won't even look at a home with a Spanish-tile roof. (I have heard recently that there are some new polymers being used to form durable look-alike tiles at much lower cost, but most HOAs have not addressed them yet.)

 

[longboard55]

What they seem to do locally is take the tiles off, they put down new paper, then reuse the same tiles and add where ever required. Not sure of the cost. One reason they do it is we get leaks after 25 years, and also they require new paper if you want solar panels. I would guess Florida is so high more out of a liability situation

 

[greeneyedchick]

Out of curiosity, are you replacing an existing Spanish tile roof? How old is it? I thought those lasted a long time.

We're replacing it. It's 41 years old. The underlayment has deteriorated. We thought they lasted a long time too and even paid for an extra roof inspection when we bought the house. The tiles look ok but it leaks all over. The inspector never said anything about the underlayment. They don't make the same tile any more so replacing large chunks of the roof would be very noticeable.

 

[wannabee]

I am having a particularly rough week at work.. only 3 years 2 months, 19 days left-- lol