My Crazy Retirement Plan

My Crazy Retirement Plan

Even though I'm (ahem) only in my mid-40's, I still consider my future retirement a fair amount. It's actually a hot topic on Friday nights when my husband and I hang out with our best friends, another married couple.  Years ago, over a "few" cocktails, we devised a retirement plan together.  Yes, that's right, the four of us. Since we know retirement will call for money, companionship and perhaps a little assistance with failing health, the four of us decided to retire together. We chose Savannah, GA as our retirement destination and we plan to buy a duplex where we can live separately but equally. We'll have a shared "duplex" budget to account for bills, meals and daily happy hours, and we'd each get a part-time job to contribute, in addition of course to our individual retirement savings. For example, my friend Sandra has always loved arranging flowers so she plans to get a job in a floral shop.  Her husband Sean is a handy-man and a bit of know-it-all, so he's going to work at Home Depot.  I'm not sure what my part-time job will be yet, but that's part of the fun. I know it sounds crazy, but years later, we still talk about our duplex in Savannah and it's kind of cool to already have a goal in place. Look out Savannah, here we come....in about 25 years!

14 REPLIES 14

Re: My Crazy Retirement Plan

This is amazing, @Jill_C , thanks for sharing! I think it's amazing because not only are you sharing goals and a clear vision for your future with your closest friends you all are setting up to remain socially engaged (by remaining close), be financially secure (investing in your retirement now & owning property), and stay active with a PT job. I feel like those are all winning ingredients for success. Smiley Happy

 

I don't yet have a long-term retirement plan other than, of course, the standard 401K but your story inspires me to do some thinking and discuss with my spouse, Ian. 

 

Do you know anyone who has set up their retirement in this fashion or was this something you brought to life through envisioning your retirement goals together?


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Janice James - W+H Community Manager
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Re: My Crazy Retirement Plan

@Janice, thanks!  I know it's a little crazy but whenever I share my plan with people, they think it's a great idea. In fact, we've had other friends ask how they can get in on the Savannah duplex!  I don't dread the thought of retirement now because I envision my cozy place in Savannah, surrounded by friends, enjoying the golden years. Regardless of your plan, I think it is important to think about those big picture goals - where you plan to live, what you plan to do, how you will make your money last, how you will keep busy. It helps motivate me to save more and take good care of myself.  I believe it's never too early to start thinking, planning...and dreaming.

Re: My Crazy Retirement Plan

What a cool plan, why Savannah? Have you had a holiday there and it captured your heart?

 

All I know is, we want to retire on a farm with lots of acerage, because my husband is itching to grow our own vegetables and fruit and wants to have lots of goats and chickens... but we truly struggle to figure out where to do that in *cough* 30 years *cough*. We are torn between Europe (where family lives) or here in the US, where it is affordable and possible... And of course there is the tiny detail of can you actually manage a farm when you are 70 and just starting out? probably not...But one can dream.

Re: My Crazy Retirement Plan

Yes, @nvecsei, dreaming is the best part!  And who's to say you can't run a farm at 70?  You'll probably be (pardon the pun) healthy as a horse!  To answer your question, I have visited Savannah before and really find it charming, and it seems like a good destination for a bunch of eccentric Yankees.  We wanted somewhere on the east coast with nice weather, and Florida is too obvious.  But we do plan to explore other options over the course of our retirement planning journey.  If anyone has any suggestions, I'm all ears!  We want somewhere affordable, with good weather, and a "different" vibe. Austin, TX is also on the list, but that's not on the coast.  Anyway, keep dreaming!

Re: My Crazy Retirement Plan

As someone who spent the majority of her life in Austin, I can vouch it's a wonderful place. Woman Very Happy There is a lovely town north of Austin called Georgetown that is a popular retirement spot. Each of the towns and suburbs that surround Austin maintain their own unique flavor, too. If you haven't yet highly recommend taking a long weekend to explore a bit, there's always something going on! 


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Janice James - W+H Community Manager
Get started in the community.

My goal is to connect people who share a passion for staying well and building wealth to ensure healthy, comfortable futures. Let me know how I can help!

Re: My Crazy Retirement Plan

Thanks, @Janice!  It's definitely on the list to check out.  I only hear good things about Austin, so it's worth exploring for sure. 

Re: My Crazy Retirement Plan

How Cute, I can see my local best friend being on board with this! Good luck!! Smiley Happy

Re: My Crazy Retirement Plan

I hope you enjoy your retirement. It is important to stay active throughout life. Recently the American Ninja show had a 70 year old compete quite well in the American Ninja competition. I am glad you are planning to stay active in retirement and do more than enjoy the beach. Savannah does have some nice beaches, but it sounds like you plan to stay active in both body and mind: the way to live longer and healthier lives. 

Re: My Crazy Retirement Plan

This is a fantastic plan, @Jill_C! It's certainly far preferable to my current plan: Die the day before I retire so the missus gets the life insurance payout. Or possibly fake my death and move to a non-extradition treaty country. Haven't decided.