The first of a two-part series today on some of the real problems of seniors (including us) as we look at what’s ahead.
We will consider inflation data from the Depression era and run some numbers on differently times exit strategies which may give you some useful ideas.
First, though, a few short headlines and then into our ChartPack when the mania is alive and well both in markets and in Bitcoins.
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Interesting reading. My wife & I are just a few years behind you in age and trying to decide what to do “next”. Stay, move, downsize… Just gotta love the decision casino. :)
We did that move, with mixed results. On the plus side, we had an ace in the hole in the form of a paid-off, furnished house in a rural area that belonged to my wife’s grandparents. On the minus side, no arable land with it. Also, honored son is out of college for a year but no sustainable job yet–so we are paying the loans. Biggest concern–the profession I chose is starting into an era of collapsing wages. I will be 60 this year. It is too late to start something new. I have 6 brothers and sisters and they are all also slowly going broke as they get to retirement age–and most of them are smarter than me…
I would suggest that you don’t argue your limitations. I’m considerably older than you are and start something new several times a month. I also succeed in successfully finishing many/most of them.
Keep your own counsel, make time for planning, and then execute those plans with a vengeance.
NEVER act your age!
Good luck!
Hi George,
You probably think I’m in denial, but I live in a world where I know I could die any day from many causes. Having studied medicine, I have little faith in the “system”, regardless of much money I throw at them. I’m definitely in the process of cleaning up/clearing up and lightening up on clutter. I’ll spend the next year consolidating and clearing while improving my properties and equipment. If an opportunity arrives where I can sell off a house and possibly take back paper on it, I’d do that. On a residence over two years, it would seem that the only taxable event would be interest on a mortgage/contract, less costs of carrying paper.
I do want to find ways to avoid the last three days of medical “care” where 80% of lifetime medical costs are incurred. In the meantime, I intend to cheat death every day, risking what I can for high returns in the form of experiences. After all, if we can’t have our dreams at this age, all we can look forward to at best is a gentle death, with regrets. I’d rather go out with a bang rather than begging some pushy MD or EMT to leave me alone.
The kids already have skills and resources. No worries there(thank God). The one thing I won’t do is move closer to the city, unless I should be blessed to find a spouse or S.O. who wants to.
Same boat. We sold the big house last summer and are renting a smaller house on the edge of town. Going through stuff (kids won’t want it) and trying to decide what to do next. Considering buying an older motorhome for short trips now and as a paid-for home if needed “down the road”.
Bitcoin, real estate ,stock market, mix Em Up and what do you get
tumbleweeds that’s what you get
How Bitcoin is going to change the future of the land that you live on and also of the land around this world and also other planets and other solar systems and other universes the Bitcoin has been used before in other universes well I should say galaxies that’s what they use they don’t use the minerals but they go after the minerals because the minerals is what they need but they use not a tangible thing like gold and silver but an intangible thing like Bitcoin so we have real estate that stock market and we have Bitcoin
so how are you going to trade your real estate to another person that lives on another planet huh has to be through some kind of Exchange will it be through a stock market exchange or through a Federal Reserve exchange or will it be through something else something that’s new to a lot of people call Bitcoin and why would it and what’s the advantage of Bitcoin over all other currencies including land and including gold and silver or even seeds for replanting for reproduction well that would be Bitcoin you know why because you have to have a medium to exchange the ideas they are all tumbleweeds but which Tumbleweed would you prefer
Talk let’s talk about real estate okay you own it you live on it and you can resell it
Talk about stock market there’s nothing good to say about it
Talk about Bitcoin the thing about Bitcoin Gus is if you lose your password or someone dies and no one knows the password except the person that died it’s a cumulative see what I’m saying it accumulates the value increases it can never go to zero they can only do one thing and that’s go up why because you have a certain amount of people who can’t sell because they’re not here anymore or either they lost the password so it’s a cumulative and it will always rise this what’s makes it’s so Universal galactical maybe solar system wise Maybe Global Maybe or maybe even write down to earth better than real estate better than the stock market that’s why Bitcoin Will Survive and outrank any other denomination or money system whatever you think you can create because it accumulates it accumulates when people die or lose their password so it’s always there so it increases now you can take all the people that trade it and trade it down will you still have all these shares out of there you can say it well they’re worth nothing but they’re there and they never go away in other words it never goes bankrupt it’s not like a stock market stock which actually can go bankrupt and you lose all your money like I did I lost 17 7000 on a stock that went out of business but reopened with Bitcoin that can’t happen it can fluctuate but it can never go out of business
And then you’re getting then you’re going to get to the point where you going to say well it can be taken out anybody can hack it yeah that’s the point where we change where were able to read each other’s thoughts we’re able to know the truth and the truth is you own this and I own this and it gets to the point where the password doesn’t really matter where do you go from there when the password doesn’t really matter because anyone else knows your password because they read your mind so what you have is a society that has a goal and they achieve it by pushing the forces throughout the Universe and as they do so they kindly overlooked people Like Us or beings like us on Earth who is who are in their rudimentary developmental stages of their being because we haven’t achieved that accomplishment yet but there’s hope we are working on it if we can just get rid of those rulers but beware where one ruler is taken out another one pops up
2 more issues in our similar world you could comment on. What price safety? if the world is becoming more difficult, where is your best safe space, rural? small town? nearer medical? Losing $ on real estate may be part of the cost. For a couple, is the place you pick do-able if only one of you is left? How do you make it more possible to work individually.
For me, the blow off will be either a rate cut or QE (I see it’s already been mentioned by one of the Fed Heads). So a nice pullback or 2 to scare the Fed & then free QE money for the banks again (sure aren’t Goldman running things anyway & they love that free cash!).