I say "begin preparing" in light of the fact that I am assuming a certain trajectory of events which will allow this happen, acknowledging the fact that given the state of the world now, any sort of prediction may be a gamble (Or more succinctly stated, "Man proposes, God disposes"). I also hope you will humor me in this and perhaps point out my holes and mis-steps: this is something that I need to do, and the easiest way I find to do such things is to write them out.
I have some initial dates and frameworks to work with. The major date in the middle of 2023, after which time we will have no binding reason to stay where we are (other than if we needed or wanted to), as the last of Na Clann will move on from her current schooling and off to college. The other date tied to that, oddly, is taxes: based on what we decide to do with our house in New Home, we might have tax implications if we decide to move to soon and recognize income in 2023 as an inhabitant of Old Home (the underlying choice attached to that, of course, is if we decide to become landlords or not. Arguably based on our current location, there are good reasons for that to be an option, especially if we do not immediately need the money).
The other complicating factor is the fact that The Ranch belongs to neither my sister nor myself currently but rather lives in a trust my parents created. This is a discussion that my sister and I have had for many years - in the event (hopefully years from now) that the trust would need to be dissolved, I would take the Ranch portion and she would take all else. The math works out pretty well for that. And certainly were we to move here now, there would be no issue - better the house lived in regularly than not. But there is still another round of paperwork and Legal fees to wander through before that is done.
So we have at least one fixed date - 2023 - and an unknown second date to walk through things (although to be fair, that actual "walking through" needs to be a discussion point with a lawyer prior to committing to anything, just to have our eyes wide open). What are the other considerations?
A job, of course - it is likely in the next 2-3 years I am going to fail to become independently wealthy (a shame, that), and will need something to bridge the next approximate 10 years until I could consider retirement. I am sure given the way things are now, my current position would be open to me working "from abroad", but it is just as likely (given my industry) that I will be in need (or maybe want) a new opportunity. Fortunately, the current emergency has made positions like mine more amenable to remote work; I need only gain and keep the credentials to make it worth their while to have me do this (again, this needs to go on the list).
Another thing that will fall under "Getting Ready" is the prepping of the house itself - not that things have gone wildly off kilter (I am here at least once a month), but there are things like chimney sweeping and a repainting and so on that it would be ideal to happen before we moved, not after.
I do not include the process of "repurposing" The Ranch with its things, as that is something that simply will have to take place on a more active basis this year. I am also not including - specifically - the relocation from Old Home to New Home, although again that is a process to be mapped. One thing I suppose that would be helpful is to begin planning now to move later (and starting to clear out all those unnecessary things, especially the ones I dragged from Old Home to New Home and hopefully will not drag back).
Thanks for letting me drone on. I feel better with the basic outlines of a plan. Now I need to commit it to a timeline and start listing tasks.
It is as if my change of careers from Quality to Project Management served a different purpose...
Ermmm exciting and possibly stressful times ahead my friend. I agree that planning such a move along a timeline is a prudent step but I can also see that such a plan will require extreme flexibility m'thinks, purely due to the span of said timeline. There may well be many changes and hurdles to face on this journey my friend so an open and practical mind will definitely be needed (that rules me out of planning such a venture). Whatever this path holds I am sure that you will cope with it admirably.
ReplyDeleteJohn, this is kind of a first for me, planning this far ahead and indeed, is fraught with potential perils and delays. On the other hand, my fear is that if I have not plan at all I may find my hand forced or forget some key detail that impacts everything (to be honest, the legal aspects are the biggest concern. State and local inheritance law can be very difficult). If I can get the major points put into place, I can work on the finer details.
DeleteAlso in this case, the other complicating factor is the house and land are in existence and need to be managed so we have something to move into.
It sounds as though you've done a good job of thinking this through and have a fairly good grasp of what it will take to reach the goal. And your circumstances offer something of a timeframe that you can start to work with. I agree about keeping plans and timeline basic because unexpected twists and turns are likely. Those are less frustrating to deal with if plans aren't too complicated at first.
ReplyDeleteThank you Leigh! That means a great deal, coming from someone who plans so effectively!
DeleteThe timeframe can shift one way or the other - who knows, I could be out of work and have to find a job here next week! - but I think if I have a goal, we can start there and I can start planning ahead, even to the things I want to do where I am before I move.
For me anyway, these sorts of things are better left in the rough planning stages. Too many things between now and then can happen that would effectively change the plan dramatically. But it is nice to at least have a rough plan in place so you don't have to start from scratch at the last minute.
ReplyDeleteEd, that is where I am too, I guess. I need something to help me start mapping out what this whole experience will look like. The legal issues need some level of understanding on my part to make sure we do not relocate only to find out we cannot stay; the job search or job restructuring inevitably takes time. But hopefully this will give me a place to start.
DeleteTalk to a tax person about the tax part.
ReplyDeleteAlso, from the experience of ourselves moving from NC to here before our house gets sold, hire someone to do the rental for you.
We learned through BIL trying to rent "from afar" that there is no good to come of that.
A good management company will keep a check on your property and vet the people renting it. Or they should, at least.
Many Realtors often do, or have someone associated with them, who will manage property in hopes you will go through them when you decide to sell.
And the rental, while it didn't make us rich, put us in another tax bracket.
A tax person can help you plan ahead for that as well as take care of filing in 2 states as we had to do while we lived here and were renting out in NC.
As for a job, how much of a job would you need? You could sell rabbits. You could babysit rabbits.
Perhaps you could teach your Iai, is it?
Or maybe you should set up your smithy and get into repairs and knives. That may be an in demand skill in TEOTWAWKI times.
Oh, a tax person can go over all that with you now.
Glad to see this post.
You all be safe and God bless.
Thanks for all the good advice Linda. There are probably three different people I would have to consult: The laywer, the tax preparer, and the retirement advisor. All of them will have different inputs to the problem.
Delete+1000 on someone else doing the rental part. Long ago in my real estate days at The Firm, this is what we recommended to all our commercial clients. Yes, it cuts into your income some, but it does remove a great deal of stress. On the other hand, were we to sell we could realize a decent profit right now which, even after taxes, would make a difference in retirement.
How much of a job would I need? From the retirement guy (we asked), if I could find a job that had medical coverage until 65, that really makes things very possible. I have calculated what it would take to live here with some of the trade offs - no house payment, higher fuel costs - but the medical really changes the calculation.
Sadly, almost no-one gets rich doing martial arts like Iai. I would certainly like to continue it here, but at best I would be covering costs.
Wood. There is a lot of firewood down here now - but sadly again, not a highly paying career.
Too late for a medical retirement account?
DeleteA lot to factor. But other than medical could you be self sufficient, or nearly so, at The Ranch? Or is that what you meant by no house payment and higher fuel costs?
Watching a show called Mountain Men, there was a guy in NC modified his truck to run off firewood...
Linda, we do have the possibility for an MSA, which I understand - at least from our benefits person - can be used in such a way, but I will need to find out more as it sounds a bit difficult.
DeleteCould we otherwise be self sufficient? Largely so, I think. Certainly heat in the Winter is covered, as is water (as long as there is electricity). Vegetables could certainly be had and while I do not know that I would do much livestock at this point beyond perhaps quail or chickens, certainly we can trade in kind for the beef the The Cowboy raises.
I have read of gassifying wood for transport, but have never seen it.
I want to suggest that you start to look for an experienced, certified permaculture design consultant. Someone you can share your goals and dreams with, who can take a close look at the land and develop a long term plan for maximum stewardship,
ReplyDeleteenvironmental responsibility, and productivity. The Mollison/Lawson PDC I took online opened my eyes to so much. If I have one regret, it's not having explored this option earlier. It would have saved us years of problems and work!
Leigh, that is an amazingly awesome idea! In this case I am going to have to make for something like twenty years of doing, so it makes perfect sense to start with a design (instead of cobbling one together myself, which will work but take time and probably be not as good, of course). Thank you!
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