Where would you move

[nbrantr]

What don't you understand about the fact that he's just pulling $80k per year out of his savings to live on. That money would have already had taxes paid on it when it was earned. He can pull $80k out for 25 years before he eats up the $2MM. He's right. He would not have to pay taxes on that money again.

Oh okay. he said he'd put 1.6MM in an interest bearing acct and live off the 80K so I assumed he was planning a 5% growth rate in the interest acct. Agree, you'll have to pay taxes on the interest but not on the 1.6MM principle.

I think this is a bad plan though. Sure you can get 80K per year for 20 years but after 20 years that 80K will only buy what ~40K will buy you today due to inflation.

[Bubba]

My wife and I are actually flying to Bozeman Thursday, I am looking at a few places in that part of Montana, I will always have my places in Texas but we are going to find some relief from these summers.

Just got home Thursday from there.It's a nice town full of friendly people.It's growing like crazy.

[Burntorange Bowhunter]

Oh okay. he said he'd put 1.6MM in an interest bearing acct and live off the 80K so I assumed he was planning a 5% growth rate in the interest acct. Agree, you'll have to pay taxes on the interest but not on the 1.6MM principle.



I think this is a bad plan though. Sure you can get 80K per year for 20 years but after 20 years that 80K will only buy what ~40K will buy you today due to inflation.

Straight up genius plan. Lol.

You just started spewing ignorance without actually reading what I said?

I'm cool with a very modest lifestyle. I could always go back to work if I had to but I doubt that I would. After 20 years if inflation is that drastic then property values will skyrocket as well. I said my property would bring another million.....maybe 2 by your projections. So at 73 I have a fresh 2 million. Genius plan.

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[jshouse]

I like you bob

[rtp]

Straight up genius plan. Lol.

You just started spewing ignorance without actually reading what I said?

I'm cool with a very modest lifestyle. I could always go back to work if I had to but I doubt that I would. After 20 years if inflation is that drastic then property values will skyrocket as well. I said my property would bring another million.....maybe 2 by your projections. So at 73 I have a fresh 2 million. Genius plan.

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I havent gone back and read all of the thread......did you disclose anything about this interest bearing account that is going to throw off 80K? Or did I misinterpret what you said?

How are you going to refresh and get the next 2 mil? Sell and buy another smaller place?

Your plan intrigues me.

[Bill]

If you want to trade the great state of Texas for Montana.

You can buy the place I see from our house on 135 acres for $1.3 million.

They call this area the “banana belt” since the weather is (relatively) warmer than other areas.

We have a lot more cattle than the county’s 8k residents, land area 1/2 the size of NJ, no stoplights in the county. It says “Resisting change since 1863” on the welcome sign to the county seat. Trump 2024 flags flying.

https://www.realtor.com/realestateandhomes-detail/206-Mill-Gulch-Rd_Sheridan_MT_59749_M98910-26223

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[HuntForHorns]

If you want to trade the great state of Texas for Montana.

You can buy the place I see from our house on 135 acres for $1.3 million.

They call this area the “banana belt” since the weather is (relatively) warmer than other areas.

We have a lot more cattle than the county’s 8k residents, land area 1/2 the size of NJ, no stoplights in the county. It says “Resisting change since 1863” on the welcome sign to the county seat. Trump 2024 flags flying.

https://www.realtor.com/realestateandhomes-detail/206-Mill-Gulch-Rd_Sheridan_MT_59749_M98910-26223

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I like it!! The 1.3 is no problem but how far the the closest walmart and HEB?

[Bill]

Nearest Walmart? 60 miles in Butte, 80 to Bozeman. No HEBs here, so sorry.


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[Gumbo Man]

Nearest Walmart? 60 miles in Butte, 80 to Bozeman. No HEBs here, so sorry.


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That’s a beautiful view Bill. Some good front porch guitar picking atmosphere right there. I guess I’ll just have stay in Texas. I’m a lot closer to Walmart and HEB than I am to that 1.3 million. LOL Enjoy that retirement my friend.

[Bill]

I’ll bet it would have sold for 1/2 that in 2019 pre-Covid.


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[Statton48]

I’d have 2 places. One currently here in East Tx.... then I’d have a place either in Oklahoma or hill country.