Sort of retirement plan
#1
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
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
Last edited by magnumpi; Mar 21st 2018 at 1:42 am.
#2
Re: Sort of retirement plan
Smaller scale worked for me.
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.
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.
#3
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.
#6
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)
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)
Last edited by dave_j; Mar 21st 2018 at 4:01 am.
#7
limey party pooper
Joined: Jul 2012
Posts: 9,982
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.
#8
Re: Sort of retirement plan
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.
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.
Woodstock is close to Maine if you need cheap gas, groceries, consumer goods etc.
#9
Re: Sort of retirement plan
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
#10
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.
#11
Re: Sort of retirement plan
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
#13
Banned
Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
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
http://myhomesguide.ca/grey-bruce-an...eal-estate.php
Last edited by Siouxie; Mar 21st 2018 at 4:49 pm.
#14
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).
Grey and Bruce Peninsula Real Estate, Homes, Land, and Acreage for Sale in Ontario
Grey and Bruce Peninsula Real Estate, Homes, Land, and Acreage for Sale in Ontario
#15
Banned
Joined: Apr 2009
Location: SW Ontario
Posts: 19,879
Re: Sort of retirement plan
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)!