I thought you were going to say purchasing your apartment! What could beat that? But I guess the stocks are good. I took a bath years ago so I pulled out and never again will I venture therein. I simply don't have the temperament for it L. I have a dependable annuity. Guaranteed 3% a year growth. I know that's nothing but to me it is peace of mind. i never have to worry about the value going down over night due to a crisis. I am not a gambler..well I am but strictly penny ante! I'm proud of you my friend. You're smart astute and grounded. It pays off if you stay the course. Of course having a little bit of luck doesn't hurt! Thank you for your reply! :)
Actually, now that you mention it, my apartment was probably the really best return on investment. I have an annuity also which guarantees income along with some other investments that are not at all volatile, but which have a decent return and dividends, plus I can live on my Social Security, so I'm in good shape. Annuities may not give you the best return for your money, but the guaranteed income is worth it because it isn't dependent upon the stock and bond markets.
Exactly right. It's excellent that you have some things that involve growth and some that are based on stability/dependability. It gives you peace of mind which is hard to come by if your financial situation is dicey. I think (I can't KNOW) that the hardest thing for you to do will be to sell your apartment unless you plan to rent it out. I'm not a fan of owning anything long-distance but you really wouldn't be that far away. It's not like you'd be across the country Your proximity to New York city will also give you opportunities to visit if you wanted to do so. I hope nothing gets in the way of your plans L. They sounds blissful to me! Thank you for your reply! Today it will be a high of 82 here and tomorrow too. But next Tuesday and Wednesday it will be 100! AARRGGHH!
This post was edited by RosieG at May 22, 2020 9:37 AM MDT
I thought about renting out my apartment when I actually retire and move to PA, but I had such a bad experience with a tenant when I had a condo in PA that I rented out. I was going to move down there a few years ago, so I took advantage of the market and bought a 2-bedroom condo figuring that I would rent it out until I was ready to move. The first tenant I had was great. She was there for 5 years. Then I had a guy and his 4-year old son as tenants and they were horrid The kid wrote all over the walls with crayon, he skipped out on his last month's rent and left the place a mess. After that, I had no appetite to be a landlord and sold the place. Ideally, renting my NY apartment would be smart because I can rent it for about double what the actual monthly costs are which would be added income for me, but I just don't think I want to do that again. When I sell, it will give me enough money to buy something in PA without having to take out a mortgage, so that will be good.
The weather here is gorgeous - sunny and mild with a light breeze. Tomorrow they're talking abut rain, and nice the rest of the weekend. I can't even think about 100 degrees without perspiring! Thank heaven for air conditioning. :)
I think it is sadly shocking but all the friends we have who have rented out property either close by or at a long distance not one of them ever went unscathed. Each of them had at least one horrible nightmare tenant. I can't figger it out. Why would they do that? I'm sorry you had such an experience but you know when you move you don't want to be worrying about anything you left behind. You don't need the added income as much as you need peace of mind. I know you'll enjoy it while you still live there and then hopefully you will find a buyer you like a lot...someone who will treat your home with the same love and care you did for all the years you lived there. I'm not a fan of triple hot days either. So today we enjoy it and tomorrow and then hunker down inside when it gets too hot! Thank you for your thoughtful reply L! :)
Part of the problem was that with the second tenant, I used a friend of my sister's and she wasn't at all diligent about checking this guy out. If she had been, she would have discovered what a terrible guy he was from his other landlords. My sister had no idea her friend was so lax and only interested in making a fact commission. Lesson learned.
So that old bromide still holds true. "If you want something done right do it yourself." No disrespect to your sister at all. She thought her friend was something she wasn't. Live and learn. But the good news is that's over and done and behind you. I've heard it said that everything we experience serves a useful purpose. I'm not so sure I agree with that. Thank you for your informative reply ! :)
This was a friend she worked with at another job and when the friend left, she decided to go into real estate. I guess my sister was thinking that she'd throw some business her way. The friend saw a quick rental buck and I relied on her doing the right thing. Next time, if there is a next time, I'll go with someone that has a lot more experience and a solid reputation.
She did feel bad and she was very upset at her friend. I'm not sure they're still on speaking terms. I'm the eldest and she's the youngest with two in between. There's almost 15 years between us. :)
How nifty for you L! There is just the two of us. I'm 7 years older which when we were young was significant. Now of course we are the same generation of old folks and our real basic natures are quite identical. She is the outgoing greagarious everyone loves her kinda gal. I am very proud to be her sister. I'm the shy one the introvert the one that folks don't seem to get. It worked out just fine. Thank you for your reply L and Happy Monday to you. How will you spend the day today? We'll just be home remembering the loved ones who have left us. A quiet time.
As a kid growing up, I was not enthralled with having three siblings, but as an adult, I realized how fortunate I am. They have given me seven nieces and nephews who have in turn given me nine great-nieces and great-nephews, so not having had my own children, this was the next best thing. Happy Monday to you.:) This will be a quiet day for me, too. Sadly, all parades have been cancelled, all get-togethers will have to wait until next year. It's cloudy and cool, sort of the right kind of weather for a somber day.
It's a quiet day here for us too. Jim is going out and about masked and gloved and promising social distancing. His plan? Costco and Harbor Freight and Walmart. His usual guy stuff only masked and gloved and social distanced. It's been a couple of months since he has done "his thing" and while I have misgivings he has my support. Fingers crossed. Etcetera ad so forth. He will grab a bite to eat out. I just poached some chicken breasts in wine and butter. Have some KILLER jalapeno cheese bagels they make at Winco. Gonna have it with a bit of butter. Had it before. DEELISHUSH! Then when Jim comes home I can make him something. Did a veggie shrimp stir fry yesterday he loved it and we have leftovers. I just wonder what the results of the jam packed beaches and parks will be L? Thank you for your informative answer. Your awesome Governor is on right now. Gonna turn the sound up! Happy Monday m'dear! :) ((hugs))
This post was edited by RosieG at May 25, 2020 9:41 AM MDT
Well while the Costco hours were posted online there was a proviso..."holidays may affects the hours". So I told Jim it might be closed so he knows. Thanks for your reply Sweetie! :)
They hedged their bets and covered their a**es without ever really committing to anything. TYPICAL. AARRGGHH! Thank you for your reply L. I called Jim about an hour ago to see how he was doing. He said Bed Bath and beyond was only open to picking up priorly ordered merchandise online. But Costco was open and he was having a good time. I'm glad he didn't strike twice with both! Tomorrow we shop Winco and pay the rent. Winco is in the same shopping center as Chase Bank..where our landlord has a local account. So it's really very convenient. i love getting a receipt in hand. He lives in Arizona so relying on the mail to get to to him would make me very nervous! Then I always follow it up with an email letting him know the rent money is in his account. Tracks for everything makes me very happy! Will mail a couple of other bills when we're out and about tomorrow and then home we'll be hopefully before the high heat hits! Thank you for your reply L! :)
Well they were closed here too. The internet gave the hours open and then in red said "holidays may affect the hours). Jim drove to the closest one in Temecula. CLOSED. Then he drove to the next one in Moreno Valley to check it out. CLOSED. The upkeep of the internet is very sloppy at best. Stores that are gone are sometimes still listed. We drove about 20 miles or so to a specialized shoe store. We looked and looked in that location with lots of stores. Jim went in to one of them to ask and was told that store had been closed for about a year! What's the point of being on the internet if what's on there is bogus? Happy Tuesday L! :)
I agree that stores don't keep up with their websites. That's one of the reasons why I call to make sure they're open before I venture out. BJ's Warehouse was open and I finally got to get a few things I needed that were on sale. Not too many people in the place and no line outside, unlike Target where the line went around the store. I went to Walmart Supermarket and then a small deli to get some things and came home.
SMART! I shall do that too futurely. Sounds like you struck gold m'dear! No lines no crowds got what you wanted and returned safely home! No bad interactions! EXCELLENT L. A good outing! Thank you for sharing! Nice to know that even where the folks were HARDEST HIT a small part of life is getting back to almost "normal"! Perks up the spirit! Governor Cuomo was AWESOME today. I know IT (powers that be) is livid and green with jealousy. The powers that be isn't even a nail clipping on the Cuomo pinky and never will be! Thank you for your reply L! :)
SpunkySenior 