This is a guest post by Dave, who is also looking to retire no later than 45, but unlike Tim has no kids and doesn’t want any. Dave is from Ontario and is working towards his CGA certification.
I have a guilty pleasure. About once every couple of months I ogle land on the internet. Compared to most things available for viewing, this is a fairly tame past time. The land I look at is probably not in an area of the province that my wife is terribly interested in, but there is one thing that is super enticing…..price. There are plots of land within a 2-hour drive of Toronto (not overly important to me, but from a geographic standpoint a good measure) that can be purchased for less than a brand-new moderately priced vehicle (around $30,000).
I recently read a Survivalist blog where the individual’s strategy in today’s moderately low inflation was to purchase durable goods, such as appliances while money is cheap. I have a feeling that land will also go up in price as inflation increases, giving me even more incentive to “get in” while it’s cheap.
This is the type of land that I would build my tiny house on, to live out my retirement in moderate isolation. It is also the kind of land that is almost an impulse-buy to regret down the road. When I look at my entire retirement plan, right now I’m only nearing one-third completion – I still have a long ways to go. So, I’ll wait (and ogle).
Although the area where I continue to look is desirable to me, there will always be someplace else for me and my wife to go (if she can still stand me by the time we retire *grin*). There are areas in the province that I could move to that would cost me half as much to get just as nice of a house to live in.
This is the reason that I’ll wait, and why I usually wait for all major purchases. There are always going to be better deals. I would really like a 60 or 70 inch television, mostly so that I would have an enormous screen to play video games on. I (along with most people I’m sure) are under constant barrage of sales promising massive savings on consumer products. I try to put off these kinds of purchase decisions by looking at these “deals” only as deals if I really need them.
If something is actually broken, then I’ll start to comparison shop around (seriously looking into buying something) – most of the time I’m one of the most boring window shoppers out there.
Are you constantly looking for upgrades to your current stuff? Do you have a dream house or dream location in mind for retirement?