It was TIME to quit teaching for sure after 30+ years officially and 20+when needed

Talking college Science teaching rather than coin collecting. Both were able for us to build 6 houses over 12 years in Flagstaff we rented out to Arizona students for 22 years which we sold this summer. Of course my wife has done an excellent job handling the money and bills. This year we used the transfer to buy California housing and renting them after renewing them as they are close, all being in southern CA .

So now I can put some more time and coins into action. My son is the president of the local coin club and wife handles the money. I just talk about the coins. Our big cat has the swift claw so se controls the table top. Beware!! I do have some duplicates that I hope to reduce in numbers as time goes along.

Desertgem.

 

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Congrats on the long teaching career!

 

Congrats! Can't wait to see some coins from you.

 

Leaving academia can be bittersweet. I didn't miss the administration but I did miss the students. Best of luck with your retirement.

 

I take it you weren't an English teacher.

 

Congratulations on your retirement, Jim. Look forward to hearing more about your new ventures.

I was able to retire from full time teaching in 2008 and never really looked back. Enjoyed teaching and volunteered taught for a few years after retirement. But I had so many other interests … the ranch, coins, electronics, travel, and more … that I was never at a loss for things to do.

Cal

 

Do you or your wife manage those rentals yourself? I do, and doing it in retirement is becoming too much of a hassle. Having a mgmt company do it sucks away a lot of the cash flow though. I need to talk to someone who knows what they're doing when it comes to selling, because capital gains and depreciation recapture seem like huge hits. How did that work out for you?

 

The real trick is to never stop learning. James

 

They are. I hate it but I remind myself how much the property made me over the years. There are ways to reduce what you owe but that's where a great CPA comes in. One that's honest and has a long history with dealing with rental property.
You may be able to get credit for improvements that you did over the years. There are also ways to trade like properties but I never found a way to make that work for me.