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October 27, 2011


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I'm a 53 year old baby boomer. I decided this year to downsize my abode by selling my house and paying cash for a condo. Retirement planning, even though its a few years down the road. I figured, why wait to have less to maintain, why not now, while I'm working and don't have enough time as it is. Besides, I keep thinking that by the time I retire, there's going to be a whole lot of baby boomers trying to downsize all at the same time making big houses less valuable. I already live in one of the most inexpensive areas of the country, so I'm covered on that point.

1) I have the proper size house to retire in but I would like to move to a cheaper location.

2) I am planning on vacations ( and I am mean contributing to a fund right now for that) when I am still mobile and able to. When money is lower and I am not able to move as quickly then I will slow down and vacation less frequently.

3) Couponing and deal searching will definetly be in the mix

4) Within the next months free of the mortgage.

The others are a toss up.

I am 77 and retired at 58 in the custom home we bought when I was 44.
We decided not to move when we retired for these reasons.
1) We love the home, its location, & the garden into which I have poured lots of hard work and money.
2) Under California's Prop 13 our property taxes stay very low.
3) The home was paid off and had appreciated greatly when we retired. Why pay a boatload of income tax?
4) As an ex engineer I know all the ins and outs of the home & yard and can fix anything that needs fixing.
5) I love gardening, and we like having 4 br, 3ba, and 2,600 sf on 1/3 acre even though there's just two of us.
6) We're in an exclusive location in Silicon Valley, close to everything, with a fantastic year round climate.

Our conclusion - Money wasn't an issue and there was nowhere we liked better than right where we were.

Why wait until you retire to start with your business? Why not do it now when you still can so that you will not get into another risk when you retire. You only need to maintain it when retirement comes.

I'm pretty good on all these. I have a small house. No debt. Live a frugal life style.
I don't get the " work part time or start a business when you retire". To me thats not being retired Thats working at your own business or working part time. Its not retirement. It's a change from your present job situation, but its still working.


I'll keep reading Free Money Finance until you stop writing!

I'm 41 and don't think I'll ever be "retired." I like to think of retirement as a time to refocus and refine our lives. I plan to keep on doing what I love, though the location and hours may change.

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