Indy Mac: Retirement Postponed ?

Ouch !

U.S. banking regulators swooped in to seize mortgage lender IndyMac Bancorp Inc on Friday after withdrawals by panicked depositors led to the third-largest banking failure in U.S. history.

California-based IndyMac, which specialized in a type of mortgage that often required minimal documents from borrowers, became the fifth U.S. bank to fail this year as a housing bust and credit crunch strain financial institutions.

The federal takeover of IndyMac capped a tumultuous day for U.S. markets that saw stocks slide on a surging oil price and renewed fears about the stability of the top two home financing providers, Fannie Mae and Freddie Mac .

Gas above $4.00 Water anyone ?

I thought this was a joke when I first read the headline.... but the videos on the web site make it look like the real deal. With the prices of gas I'm just about ready to try anything. I know some people that are collecting French Fry Oil and making there own bio fuels. What a world we live in. More...

$132,994.97 per month from Google Ads

Now that's what I call Shoe money !

Off Grid Living: Think $4/gallon is high ? Try $9.45

Off Grid Living: Think $4/gallon is high ? Try $9.45

The "Secret to early Retirement" ? Downsize, Downsize, Downsize

Florida bungalow - 1200 sq ft with pool for $68,000
If Real Estate in your area is still selling at reasonable prices, (ie: won't sell at a loss) Sell and look to some areas that have houses at rock bottom. If you can sell yours at $500,000 and pick up a much smaller house for $50,000 - Pay off the mortgage and invest the remainder in a secure Certificate of Deposit. It's amazing how much all of your expenses decrease proportionately when you move into a smaller house. Taxes, Insurance, heating, cooling. EVERYTHING.
If your mortgage is completely paid on a smaller house and you can reduce your living expenses to around $25,000 per year - you can live off the interest of a $500,000 CD earning 5%.

Expenses would look like this:

Mortgage............$ 0/mo
Property Tax........$ 200/mo
Food................$ 600/mo
Auto................$ 200/mo
Hydro/Gas...........$ 200/mo
Tel, IT.............$ 200/mo
Travel..............$ 200/mo
Insurance...........$ 100/mo
Misc................$ 300/mo
Total...............$2000/mo = $24,000/ year

See it is possible - you just need to downsize - the sooner the better !

What can you get in Ocala Florida for $149,000 ?

I've seen the Ads on Retirement homes in Florida so I thought I'd go have a look. Not bad. Considering most bungalows around here are going for about $300,000, and we are more than 2,500 km north of the Gulf of Mexico. This development is called "SummerGlen" Retirement Community and is located in Ocala Florida - north of Orlando. Maybe we'll drive by next time we are down that way.

"Retire to sunny Canada"

What ? Did I read that right ? Canada you say ? Well maybe not during the winter. The worst of which is January, February, March and sometimes April. Canada offers some of the most beautiful landscapes and cleanest lakes in the world. The photo above of Lake Superior is just a taste of some of the unspoiled beauty that can be experienced in retirement living during the months of June, July, August and September. Temperatures in the 80's. So what do you do with the other months ? Like most Canadians "fly South". Most go to Florida during the coldest months between January and April. I'd suggest spending April and May in Tuscany, Italy or Provence, France. So how would my perfect retirement months be spent ?

1. June, July, August, September: Canada
2. October, November, December: Europe or Canada
3. January, February, March: Gulf Coast Florida
4. April, May: Italy, France