Retirement plan to support my "habit"

[JamesBon92007]

This thread got me thinking about ways to go diving cheaper in retirement. What about working part time at a dive shop or DMing as a way to get free fills and discounts?

I don't know what it's like in Malawi but you might want to talk to some DMs where you are thinking of living and working and see what the prospects are. In some places there are more DMs than dive boats and too many friends and relatives who want to work in the dive shop. Hopefully someone knows where there is a demand for DMs. I'm guessing you are willing to relocate

 

[billt4sf]

We're lucky enough to retire and live in Bali so we can dive a lot.

Couple comments:

* We can do this (travel, dive) because we rent out our house in San Francisco. It's AMAZING what you can do with the internet and a few good friends.

* The older we get, the more we want four star places, concierge LOBs and resorts, and Premium Economy as mentioned. Also, I am 6'5".

* The older we get, the more we want breaks between diving trips. Currently we do one month diving, two months in Bali. Also lets the ol' bank account bump up a bit.

* Living expenses in Asia are cheaper, but medical attention is an issue (we go to Singapore) and we do miss our friends! We can barely afford to come back for a visit!

* Retirement? You better LIKE (not just love) your SO because you're going to be spending a LOT of time with them! Especially when living abroad.

And we do miss things like sidewalks, traffic lights, and Mexican food.

- Bill

 

[JamesBon92007]

And we do miss things like sidewalks, traffic lights, and Mexican food.
- Bill

I take it there are not many Mexicans who have relocated in Bali. I've had good Asian food in Mexico, but it was real Asians cooking it. I just don't think I could live any place without real Mexican food.

 

[KenGordon]

I'm still many years away from retirement (unfortunately), but I'm also not young anymore. So, I'm thinking more and more about how I'm going to survive when I retire. I so regret not listening to the folks who said to start early. I admit, I've been unconcerned about this whole retirement planning thing until now. And I'm now starting too late, but at least it's a start.

Snip...

I just want to add: Me and my first world problems.

The new retirement is working until you die. This is especially true for those too young to have bought a place to live before excessively low interest rates bumped house prices beyond earnings. Being retired and still paying free market rents isn’t going to work. Those on here who have already retired are likely to have been beneficiaries of those housing price increases in which case they are really living and diving at the expense of those coming behind them.

Between me typing this and posting another person posted perfectly illustrating this. Someone working in SF is now paying for a perminant holiday for a retiree who happened to own a house at the right time. Did the retiree write down in 1983, buy house, hold for 30 years, retire as landlord as rents will spiral?

So dive while you can, don’t leave it until you retire and don’t waste money on get rich quick books or schemes.

 

[billt4sf]

Between me typing this and posting another person posted perfectly illustrating this. Someone working in SF is now paying for a permanent holiday for a retiree who happened to own a house at the right time. Did the retiree write down in 1983, buy house, hold for 30 years, retire as landlord as rents will spiral?

I bought my first house in 1987. I thought I had spent well beyond what made sense.
And I always thought I'd work until I died.

- Bill

 

[billt4sf]

This thread got me thinking about ways to go diving cheaper in retirement. What about working part time at a dive shop or DMing as a way to get free fills and discounts?

I think fills and discounts on gear are the least of your problems. Certainly in Indo, there are many, many locals that strive to become DMs (and potentially live far from their families) because it's a really good job to them. I'm not privy to the real info, but I can almost guarantee that they make far less than any westerner would accept.

- Bill

 

[billt4sf]

Is there an online tool or something I can use to calculate this? I can't argue that paying off a mortgage early always puts more money in my pocket, but isn't a key factor in whether I come out ahead what rate of return I could earn on that money? Given the bull market in the past few years, I'm kind of glad I didn't tie up my money by making additional principal payments on my home loan and instead put it into my investment account.

Indeed! But if you don't pay down that mortgage and spend the money instead, you haven't helped your situation, either.

As far as online tools -- I recommend reading books on financial planning. It's not rocket science! Anyone reading this thread should take it upon themselves to get financially educated. And learn Excel.

As far as the stock market goes - I wish I had never heard of the damn thing! In any case, money in the market should be those funds which you will not need for 10 years. Buy an index fund, stick it in there and don't look at it!

- Bill

 

[billt4sf]

@jlcnuke , we're also fortunate to live where the cost of living is low. In some places, $400k buys a small condo, not even a fixer-upper house.

In SF, $400K buys nothing. But you are where you are.

 

[MXGratefulDiver]

I take it there are not many Mexicans who have relocated in Bali. I've had good Asian food in Mexico, but it was real Asians cooking it. I just don't think I could live any place without real Mexican food.

... the best quesadilla I've ever had was at KBR, in Lembeh ...

... Bob (Grateful Diver)

 

[KevinNM]

In SF, $400K buys nothing. But you are where you are.

I think $400k buys a single parking space in a downtown garage.