The tough question is what do you plan on counting on your $1 million in savings to provide you annually?
The article says take out 4% a year, $40k, from the million. That means mostly stock....as bonds are now paying way less than 4%. If you get a 20% pullback your $1 million is now $800k. Then your 4% is only $32k.
Trust me, once you stop working the ‘expected yearly income’ becomes less confident. I’ve been lucky in my first 1.5 years that the market has skyrocketed. I hope you are too!
Billy why are you waiting 18 months to move back to Vegas? Also I was under the impression that you liked Bisbee.Quote: billryan
I'd strongly suggest you rent for a year so you can learn the areas you like and dislike. When the moratorium on evictions expires, I'm thinking there might be some great deals.
If you decide Vegas isn't for you, you aren't stuck with one of the thousands of condos on the market.
When I moved out in 2016, I spent a month looking at condos and townhouses before deciding to rent in northwest Henderson. Many condos sounded good until you get into the carrying charges and tack on fees.
I looked at properties on and off for the next year, but it made economic sense for me to rent. I'm hoping to move back to Vegas in eighteen months and expect I'll rent again for a bit.
Venice Beach is a millionaires paradise, but it's also a homeless enclave now. It's getting worse by the day despite any moratoriums. NY, TX, CA, FL could all have half a million homeless when the moratoriums expire, in the middle of a pandemic! Gonna have to get the Chinese authorities around to weld you into your house or apartment to keep you from going outside where the homeless are.
Billy why are you waiting 18 months to move back to Vegas? Also I was under the impression that you liked Bisbee.
I like Bisbee but it's too small for me. Having to drive twenty plus miles to get a gallon of milk gets old fast.
I sold my building and am going to a hybrid plan where I sell online and consign stuff to other shops. New owner wants to sink in some serious money and make it into four AirBNB units and paid a nice premium over my costs.
When I get my vaccine I plan on traveling for a few months and ending up in Vegas. I leased a huge old ranch house for the next few months while I liquidate.
I loved Vegas and am looking forward to returning.
If you want something quieter, I would recommend the west side of town, where I live.