I have a cash problem

Paddlers' Place
#1

Too much of it that is. I’ve talked about this on other forums and there’s a demographic that has this problem too.
I no longer have anyone to leave assets/money to. My fam is reduced to just me. My siblings are all grown, aged and OK. Their kids? 2 are doing quiet well and the rest are lazy, entitled bums living at home in their 30s-40s.
In my future passing, they could get quite a windfall of assets.
But they won’t.

They don’t rate. I don’t reward bad behavior and being a lazy bum is bad behavior in my world.

So…my plan…going to fix up my house a little more, then next spring, sell it. Sell off vehicles, boats, everything but just what 1 person and dogs would need. There’s going to be a lot of cash in my bank account.
I have retirement income coming in, so I can live quite OK off of just that.

Going to live in an RV, so maybe renting a spot. Other times, might rent a real place for a time. Renting, no money locked into something, just monthly payments for my living.

Will have to have a rental storage unit though as with seasons changing, locations changing, my interests/uses will be changing. That’ll be another monthly bill.

But that’s the resolution. Take the money and run. Live the life of a vagabond, going where I want to recreate, then go onto the next. And/or just enjoy going nowhere in particular, enjoying what I come across on my way to nowhere.

This winter, will be working on my setup. So far, it’ll be a truck and camper, big boat for big water. Gotta figure out how to get a canoe into the mix. Maybe get a smaller trailer to pull behind and put a canoe on top of that. Be a good place to store extra gear…but the whole attraction for me to a truck camper is wherever you can park a pick up truck, you can park your “camper” there. Once you add a trailer, now parking becomes an add-on issue.

Anyone else here?
gonna die where you are?
etc.

1 Like
#2

I live comfortably with an adequate pension. The boats i currently own are more than satisfsctoy for my needs. A competent project manager with Whiting Turner retired, sold his assets, invested everything in his sailboat and moved to.

I worked part-time and full-time in a custom woodworking shop, but then started helping the owner so he could get a leg up on retirement. I finished the last project a few months ago because he had a hard time getting his head around unpaid labor. I plan to go back to takebon some personal projects.

If I can swing it, I might get property in the hills of WV to satisfy my desire for a serene location, but I need to calculate how it could be a milestone with having a second home to maintain.

#3

Why do you feel the need to tell strangers your life story? Go talk to your friends and see what they recommend…or is this your only outlet? If it is, so sad but probably not unusual…Are you Mjack?

3 Likes
#4

Many can’t/don’t maintain their first, which is why a lot of retired people go the condo route. Condos…the second worst form of real estate ownership.
Know the first? Timeshares.

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#5

Why do you feel a need to respond?

#6

Always amazed at what posts bring the hostility from people. It’s very telling of them.

As an information libertarian who has always tried to help others, I’ll combine the two in a response to you. I always try to make positive things of negative ones. A lot of people indeed have no idea of how some things are in the world, so I’ll expound a bit here for you (and others if they are equally perplexed).

When people old enough to retired, they usually have a bunch of assets along with a pension(s). They live life, but then when they start thinking of “OK, what is going to happen with all this sh*t/cash if/when I die?”

Responsible people plan for their death, what will happen to what they leave behind. So I realized I have no one to give my cash/assets to who are worth it.

I posted this on GAB (my only social media back then) and got a few replies, mainly from people in the same predicament. Didn’t get any ideas as they had none. And social media is how a lot of people communicate now, even form groups of like minded/interested people to talk to, share ideas, post paddling stories, etc.

A lot of the people where I live are younger, so don’t have to worry about this future stuff. There are some retired older people here, but they have kids/grandkids, so they don’t have that worry. Plus I don’t have much to do with them as they’re older than I am, usually by about 10 years or more. They aren’t in shape, are deconditioned, don’t do much other than stay at home and watch tv.

What do you recommend as far as a house with 6 digits of equity in it?
The only way I can see of getting that equity out of it is with a reverse mortgage. Not a fan of that idea as someone else is making money off of me/my work.
Selling the house is the only thing I can come up with.
Any ideas? Do you own a home? Got equity in it? Or have more vehicles/boats than sense too?

If you ever wondered, I can give you some tips on buying/selling things. A lot of people make mistakes doing some of that.

and have earned a bunch of assets, then retire, you might be in this same position.

1 Like
#7

My guess—he’s angry. That’s why he attacked me like that.

#8

Because its true. One thing is certain, I wouldn’t want to give up my individual home. I lived in apartments when married, then a town house for 18 years. I like the neighbors who were original owners when the houses were new in 1952. I bought in 1977. As the original owners moved or died off, the adjacent homes turned over rapidly and the new owners were not easy to tolerate. Almost bought a timeshares. The maintenance fees cost nearly as much as a weekly rental.

#9

Never mind, @davbart. I misunderstood who your message was directed to.

#10

Actually, I’ve considered giving up my home, but doing a hybridization permanent spot/cabin in the woods/RV. I’ve thought of purchasing a couple of remote spots and building an RV pad with utilities to park. That would allow for travel, but always assure I had a place that was mine that I could go to. Additionally, with a proper selection of locations I could avoid the worst of the weather.

Although, I am considering options not because of “a cash problem”, my kids and grandkids will have no problem spending whatever I don’t. Of course, I guess I could just park at my kids’ houses and mooch off their utilities, it’d only be fair :laughing:

2 Likes
#11

That’s not a bad idea. My biggest fear is the typical breakins that happen to uninhabited cabins in recreation areas. Good way to solve that problem.

#12

I’ll tell my kids to insulate a tool shed then run water and electric. Feed me with a sling shot.

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#13

That and the deferred maintenance and repair because you’re not there. A small roof leak left for a few months could be a big issue by time you get there.

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#14

Geese, I don’t think I attacked you at all…I just asked a simple question…Seems to me you are trying to verify your time on earth thru your postings here. If it gives you validation…I guess that’s your thing. I find it ironic that on one post you sort of identified yourself and then went back to your being just the poster…I also agree that timeshares are the worst form of ownership, but who are you to diss the many that are fine with their choices. More so for condos…Many elderly people are fine with their decisions…maybe you’d rather have them live where thy can’t maintain thier property…I’m glad you’ve figured out your position in life, but quit preaching your personal stuff to anonymous group. Maybe go to a meeting…and by the way, pensions are almost a thing of the past

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#15

On a serious note, any leftover assets I might have when I expire will go to donations to local park districts. Those where I do my hiking and kayak launching.

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#16

My wife will have a couple rooms in her name at a no-kill shelter where we have volunteered for years

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#17

My sister has a home in a state forest and their original home for when they return to town for doctor visits and events. A baseboard radiator leaked . . .

#18

You didn’t make the absolute worst real estate decision a person can make. Congrats.

yeah, one of the bad things about living in a house–you can’t move it if new neighbors come in you don’t like. Throw in demographics and there might be a cultural issue(s) also. In the old days, that’s how cities grew, immigrants/in-migrants moved into central cities as people there moved further and further out from it. That’s the old CBD model and that’s long obsolete.

#19

BINGO! That’s my latest and greatest resolution. I’ve gone back and forth between your idea or building a simple garage there, then use that as a base. It won’t be a garage anymore as soon as it has a bathroom/sleeping in it per govt people, but just the idea of a concrete slab, stick framed garage sized ‘house’.

But your idea of just having utilities and maybe a park shelter type of building and use an RV, I like even better. Snowbird stuff.

Winter time, animals can eat through the siding and set up camp inside if it’s too shed/building like.

Liking that idea. Plenty of time to be an RV transient

1 Like
#20

You sure are full of attributing all sorts of things to me.
Keep trying as you might come close at around the 65th post.