Sort of retirement plan
 

Brain storming today regarding a retirement plan.

Thought I try the ExPat lions den see what feed back we get. :@)

Plan A:

This is a 5 year plan, meaning doing this in 5 years when I will be 59.

Sell current home for silly GTA money $650,000 value now. No mortgage

Move a long way away, choice of 3 places, all in New Brunswick (because it’s cheap)

Woodstock NB (have a relative live there) buy 4 houses rent 3 live in one. Houses are 60,000each. Live on rent be a property manager.

Basically same for Fred and Moncton but houses not as cheap.

Plan B:

No plan B yet;)

Re: Sort of retirement plan
 

Smaller scale worked for me. :nod:

I have no idea what house rental market is like. A triplex or fourplex might be worth considering. Possibly more tenancy changes but one site might be easier to manage.

The vacancy rate here has fallen somewhat since I sold up.

Re: Sort of retirement plan
 

Sounds like a good plan to me. Ours is wait until old person dies, sell up here and move to Ontario have a hobby business to do with cars, travel lots while we can. May need to rethink where in Ontario as our desired area seems to have increased in value.

Re: Sort of retirement plan
 

Just looks too simple lol. We see, thanks guys

Re: Sort of retirement plan
 

I'm sure we could all come up with something complicated for you.

Re: Sort of retirement plan
 

Plan C.
1. Invent time machine.
2. Go to bank and withdraw $20
3. Go back to 2008
4. Spend $20 on 1 Bitcoin.
5. Return to present.
6. Sell bitcoin(s) for current value
7. Go back to 2008
8. Spend profits on bitcoin
9. goto 5.
.
.
.
Buy Vancouver, Live happily ever after. (If you don't like Vancouver then buy Nova Scotia)

Re: Sort of retirement plan
 

Plan B. Stay in Ontario. Buy two houses and rent one as holiday lets. More money. Or even get two cottages/ cabins for vacation rentals and one home to live in.

Re: Sort of retirement plan
 

There is a reason NB is cheap. Wages are low, rents are low. If it works for you go for it. My M-I-L was from a place north of Woodstock called Perth Andover, NB. Nice place but too quiet for me. Ajax would be a thriving seat of urbanity and depravity compared to Perth Andover. If you like curry you'll be out of luck there. Meat and two veg area. I had one of the worst meals of my life near there in Hartland, NB in a chinese restaurant in an old church. When we finished the meal (and we weren't happy with the food) the owner told us he was closing tomorrow permanently due to poor sales. Hmm, I wonder why.

Woodstock is close to Maine if you need cheap gas, groceries, consumer goods etc.

Re: Sort of retirement plan
 

This is a thought but maybe above our pay grade

Woodstock has a college and maybe what Bristol said about a duolex or apartments would be ok. We seen a few near the college split into units selling for 79,000

Re: Sort of retirement plan
 

Rent Ajax house out and go live in Greece or Bali as a digital nomad. That's what the millenials are up to these days, and they seem to be able to eek out a living from it.

Re: Sort of retirement plan
 

I sort of still wanna work to keep busy so looking after a few houses in a small town was my idea of getting an income and keeping busy.

I would need

Ride on mower
Many hammers and a big bag of nails
A pickup truck of course
A plow attachment
A quad
A gun
A porch to drink beer on
A BBQ
A ski doo
Ect

Re: Sort of retirement plan
 

Plan D.
Find rich widow. don't have to marry her, just keep her happy.

Re: Sort of retirement plan
 

Use this website to find a couple of cottages/houses on the North Bruce Peninsula. They rent from $1000 a week and way up from June to October (reduced rates in winter). I can recommend Dunks Bay (small town, sand beach, small cove), Lions Bay and for glorious sunsets, Eagle Harbour area. There are a few reasonable waterfront properties still, plus building lots (hint, buy one now).

http://myhomesguide.ca/grey-bruce-an...eal-estate.php

:)

Re: Sort of retirement plan
 

Pricey up there, can’t see any sub 100,000$ places most are all my budget each. :@(

Re: Sort of retirement plan
 

But you'd only need one rental place to bring in an income of $40k - $80k+ a year.

I was looking when I was up there and there were cheaper places available to buy and the rents were crazy prices in the summer $2-3k a week (June to October)!

:)