Friday, May 13, 2022

Is It Still "Early" After 50?

I turned 50 this week and I'm not retired yet. Something must be wrong. Or not. Plans change. Lifestyle inflation happens. I can retire at a basic level, I just don't want to quite yet. I work from home, I love staying home with my dogs all day. My investments haven't reached their goals yet. Next year though, I am taking my birthday off, at least. Working on my birthday was depressing.

 I have given notice to one tenant to vacate so that I can sell the home. It's the 2 bedroom, 1 bath near downtown. I was fine with keeping it rented until I found information that makes me think the tenant has moved out and left her adult son to live there alone. There have been a few issues with the air conditioning unit needing service and a water leak. Repair people are harder to find and replacement parts take longer to get. She was patient, her son is not. When he called me on a Friday night to yell at me to get a repairman there instantly, I suddenly wanted to sell the place. They have 7 weeks to find a new place. It will be tough since he has a dog and a project car in the backyard. I have kept rent low through the pandemic. It's $700/m and I was planning to raise it to $900 over the next couple of years. Now I like the idea of cashing out. Hopefully, they will leave without causing damage. I don't know if the housing market will still be favorable in July but I'm going to see what happens. I can always rent it out again.
My nephew says that he is planning to move out of the mobile home and into an apartment with a friend. I think that will be a very good experience for him. I am not going to sell that property yet because that is where my tiny house is and I still want to finish it. I consider the tiny house my "vacation" home even though I haven't stayed there since March of 2020.

My other rental home is ok for now. It has needed some repairs but the tenant is very nice and patient. It helps that her nephew runs a handyman company so I can call him for some of the repairs. 

I spent all of the money that I earned from winter tenants at my own house to pay for a new A/C heat unit. It was 20 years old and I didn't want to risk it going out while a winter tenant was there.  The crane was fun to watch. $7,400 for that. I hope it helps my electric bill since this unit is supposed to be more efficient. My maintenance account is low right now. All other projects besides the house I want to sell, are on hold.

So, that's the latest. Still plugging along and working on my short and long term plans. I'd like to say I can take the summer off from big projects but that house is not going to fix itself up. It will be a relief when it is cash in the bank.


Dave said...

Yes, my dear Daizy, it is still an early retirement if you retire after 50.

I worked from home for a few years, from 2001-2003. I liked it, until they suddenly ended open-ended telecommuting.

Back to you, Daizy, so now, besides your doggies and houses, now you add a big crane to the mix. You never cease to amaze, me!

philo said...

Me neither, Daizy - I'm referring to your powers of incurring amazement. So nice to hear from you and about your various property goings on. Here's to the next fifty!