I remember when I was much younger farmers thought they were rich when farmland was going for $1000 an acre.
Recent sale in Iowa went for 22,500. Stuff 8 miles south of me went for 12,500 last week. Sent from my SM-G970U using Tapatalk
Grew up in central Illinois with the richest soil in the country. Every year it’s normally top 3 in the nation for beans and corn yield. Never realized it and took it for granted for years! Sent from my iPhone using Tapatalk
Some more advice, if you have a legacy property that you want to hand down or a premium property put it in a trust for your heirs. Your kids won't lose the house to a nursing home if you end up there. Do it soon because it needs to be in trust a certain amount of time to be fully protected, earlier if you have over 50% equity in the property. I fulfilled the Minnesota dream hand down a lake place to your kids, it will give them something to fight about when you are gone. Actually my kids get along very well I think they will not argue about the cabin.
56 is the goal and it will happen. I'm not a worldly traveler and I like vanilla ice cream. I could survive in some podunk house in the middle of nowhere as long as I had decent health coverage. I dont need much. That being said, if the wife makes it big I may retire at 52 with full retirement and call it a day! Haha
Im 39, hoping for a 55 retirement, which means 60 im sure. i have a 401-k, Roth IRA, and my company is an ESOP. I have been hitting max on 401-k for the last 5 or so years. When im 50 and the max moves up i will try to hit that too. I put alot of hours in at work now so i wont have to later. I do as much as i can without killing myself that is. My father has about a dozen rental homes that i will gain half of one day. I will probably add to that arsenal when the time is right. All of these plans mean nothing though without good health. That is the most important thing you can try to plan for. But just like financial disasters, health can hit you from out of nowhere like a atomic bomb. There is alot in life that is out of our control. All i can do is balance planning for the worst, hoping for the best and still living life without working ourselves to death. YOLO!!!
Hes probably talking “tillable” meaning agricultural income generating. Goes for about 8-25k here as well.
A theme from this thread: Pay off debt and max out your 401k. We do not plan to have kids and we like to live like we are even younger than we are (I know I'm still young the way it is). I really like to live life... I don't like to live frugally in certain aspects of my life. I drive a junker car and have a tiny house, but I love going on trips every year. Sometimes numerous trips. Just got back from a 5 day vacation in Nashville and we are already planning our next trip in the next 6-9 months.
I retire full retirement from the military at 43. Im gonna move back to Missouri and open a gym with a PT clinic run by my wife who is a pt connected to it. We max out our Roth IRA every year. Sent from my iPhone using Tapatalk
YIKES!! We are leaning towards keeping our property in trust v selling it and down sizing. That might change so we are twiddling thumbs right now. The biggest unknown is the market. Who knows when that next crash is coming. Our property is a good buffer against that but would be useless in an irrevocable trust.
well, you did kinda box yourself in by naming it Bow Hunt Or DIE. anything less would make you a hypocrite.
I will have 25 years of service on October 24, 2030. I will pop smoke on October 25, 2030. ...helps that Mrs. Noodles is in the same income bracket and 10 years younger and 6 years behind me on the retirement pace Until then, I pump 20% into my 401k and get matched on the first 15%. I can't wait to be a hausfrau. of course that's if the Chinese don't kill us all first.
Yeah, that's what ours is going for agricultural. Currently looking at the field next to our house to extend our current cow pasture and that's what the realtor told us.
A house is an investment... Generally appreciating. So fixing up an older home, living there a few years and buying up generally a decent saving method. The trips, in moderation, totally doable too... But when our kids were younger we were very careful as little things would add up... Let alone the costs of raising them. Also, as ours was a single income family, we maybe were overly cost conscious...
