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Old 21st April 2019, 09:25 AM   #11
Halauhula is offline Halauhula  United States
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Join Date: Feb 2014
Location: Bethesda MD
My wife and I, both approaching 64, have good pensions upon retirement in Sept. 2017 and Jan 2018, respectively. We have savings, IRA/401K investments, and regular investments. Bought a 20 acre property 1.5 hours from our residence in DC Metro area. We can keep our residence (paid off in 2015), and still build on our property. Property is paid for. Property was last used as cattle farm and is now mowed for hay (we let a neighboring farmer mow it and keep the hay for free). The bottom of our property has a small perennial stream which has been dammed creating a small shallow pond.

We plan to build garage to house tractor/mower and RTV, and house that we will live in 3 seasons. Paying for both with liquidated insurance policies (no need for them now), savings and liquidation of investments, and a mortgage (less that 80% LTV, so no mortgage insurance will be required).

13.5 acres are to be reforested, with 100% cost subsidy from non-profit working with the State. Remainder will be "family orchard and berry patch, septic field, kitchen garden, and lawn for sports and such, perennial garden plantings, screening/hedgeow, and the house and garage.

My wife and I are introverts so we don't mind being by ourselves although our immediate neighbors are great. And, we are not oging to live there full-time. Even during the three seasons that we will be there, we will spend two weeks at the rural property and then head back to the big city to get our cultural and social charge.

When we can't use it any longer, we'll sell or give it away. In sum, its our approach for recreation. It's not an economic decision per se. As JLennon sang: When you're dead, you don't take nothing with you but your soul."
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Old 21st April 2019, 10:10 AM   #12
BAAzar is offline BAAzar  United States
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Location: Texas
Build a website (about building audio amps) and run (literally)...
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Old 22nd April 2019, 01:01 AM   #13
TheGimp is offline TheGimp  United States
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Join Date: Aug 2009
Location: Johnson City, TN
Leasing out the hay rights is a possibility but I would still probably need a tractor and bush hog to keep the property under control. The barn would have to go. I've requested a quote from a salvage company to see how that would cost.

I plan on gardening between 3000sq-ft and 5000sq-ft so the tractor would be use full there too.

Another "must have" is a rifle range as I shoot a good bit. This property has a nice 200 yard area starting on a rise, dropping down about 20', then rising again with a major hill/mountain as a backstop. With proper preparation this can be a safe shooting range.

I've downloaded a lot of info from the county web site.

I put the probability I will go with this at 20-25%. But if not, it at least puts me in a mode to start looking at what it is going to take to move and with 20 months till I retire it is time I started figuring out what to do.
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Old 22nd April 2019, 01:33 AM   #14
phase is online now phase  United States
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My mom has done a similar thing, buying a rural piece of property and developing it into a functioning nursery, selling plants. While this was to be a business enterprise, it wound up becoming a hobby activity, then a great burden. This continued until the arrangement no longer was feasible, ten years. Now she is in a more suburban situation, closer to family and health care.

I would have a plan to go from there for sure, if considering a similar deal.

My Dad has gone through four retirement homes, essentially purchasing, rehabilitating, and flipping each one as the market turns. Each home getting smaller and in more desirable areas.

I know my last home will be a rambler with no stairs!
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Old 22nd April 2019, 01:36 AM   #15
Tubelab_com is offline Tubelab_com  United States
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Location: West Virginia panhandle
Quote:
with 20 months till I retire it is time I started figuring out what to do.
We started the planning phase about 5 years before actual retirement time.....but then I never really knew when THE day would come. I could be sitting at my desk working with headphones on and not know that a coworker two cubes away was laid off. I didn't know "when" for sure until I signed the "lay myself off" papers, and even that date was extended.

Still My plans for exiting Florida in an orderly fashion were tossed when my house sold for more than it was worth a couple weeks after listing it, under the conditions of "being out of it in 3 weeks" when I expected it being on the market for months.

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Build a website (about building audio amps) and run (literally)...
Built the website while I was still working, now beginning the new version. Running never really appealed to me, but 20 mile bike rides were common as are long walks. Not too many places to ride a road bike here.
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Old 22nd April 2019, 03:31 AM   #16
benb is offline benb  United States
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How do you retire?
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Originally Posted by Johno View Post
...
As much as I share your vision for an idyllic rural retreat I do worry that post-retirement with its sudden loss of nearly all your social interactions at work will prove hard to live with. Just saying that you should not neglect your social health.
For readers of this forum, I might suggest membership in a local makerspace/hackerspace - they're chock full of people making things out of electronics, computers, wood and metal. I'm surprised there's no speaker making activity in the local Atlanta spaces, though I knew a guy who refoamed his stereo woofers, having never looked inside a speaker cabinet before.
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Old 22nd April 2019, 03:34 AM   #17
Halauhula is offline Halauhula  United States
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Join Date: Feb 2014
Location: Bethesda MD
Usually, in a rural area, you are not going to find a maker space/hackerspace. the makers and hackers are real people like your fellow farmers and tradespeople. Get to know them, and you will often end up with rewarding new skills and insights. Like hunting, shooting, dressing game, welding, hydraulics, small engine repair, the list goes on and on.

As a city boy, I seek out these people even if we have totally separate political views. You just don't have to talk about those divisive matters. Connect on things you have in common....
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Old 22nd April 2019, 09:50 PM   #18
phase is online now phase  United States
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The original makers; farmers and hunters!
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Old 23rd April 2019, 04:57 AM   #19
wg_ski is offline wg_ski  United States
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2 years ago the wife and I bought “the place” - a 20 acre hay farm with the intention of building our retirement home in a corner of it when “the day” comes. I’ve been seeing the signs and seasons for about 3 years now and should be in a position to pull the plug some time in 2021 if everything doesn’t hit the fan sooner. I had been complaining about all the changes and idiot decisions at work for a while, and a good buddy of mine from Florida was considering moving out to TX near me and looking for some property. We were thinking about going in together on 42 acres, but it was more than I wanted to spend and he eventually backed out anyway and ended up getting a job. The wife got wind of this plan that spring and the next day we were out looking at property - and trying to figure out When I can pull the plug. I had originally planned another 10 years at that point, but I seriously doubted my situation will last that long - and the truth is i’m sick of it and it’s become just a J.O.B. now.

It’s undeveloped, other than mostly cleared with a productive hay crop. Water meter is already there - original owners might have been thinking about irrigation at one time but never did anything with it. I’m keeping the account active, paying $22 a month. Power line along the highway frontage so that shouldn’t be a problem. I figure on it taking about a year to build. - have to run water from the meter, electric, and about 500 ft of gravel driveway before anything can even start. The plan is to build with cash for about what my current home is worth, then move out gradually and put the old house on the market. It’s been paid off 10 years already, no need to put it on the market till the new one is liveable. I won’t even try to do anything other than infrastructure till I can be there on site full time.

After everything is built, or at least useable, the serious audio work can really get started. I’ve been building inventory for years, including quite a few lifetime buys before the thru hole components disappear forever. The budget will be more modest when I’m not working anymore, so we’ve got to plan for that. And I’ve got just 2 more years to get my new PA rig to the point where I can at least gig with it even if it’s not completely done.
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Old 23rd April 2019, 06:42 AM   #20
KaffiMann is online now KaffiMann  Norway
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Join Date: Sep 2009
Location: Grua, not far from Oslo.
How do you retire?
I stumbled into the barn of a fellow I used to know, he was jumping about helping the lambs, climbing the dividers (with a little bit of effort), moving the sheep and doing the chores with a practiced elegance.
He said: "In only 13 years, I'll be 100! Maybe I'll come visit and check out Oslo again."

What was implied was: He thought 100 was a good time to retire... Not ready just yet.

I think the only medicine against old age so far is being active in both mind and body.
On my part the physical aspect has been neglected for some years, but otherwise the mind stuff should be around "ok+" somewhere.
If I can somehow climb over fences and jump across streams when I'm 87 then I will most likely die of shock doing it.
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