Island Life….The Way It Used to Be
We have finally arrived back in the Bahamas. This time we are boat less. We did not get around to purchasing another boat and we wanted to be in the Bahamas for the winter months. Our plan is to start looking for another boat next summer. Until then we are land bound. We will be in the Bahamas until April.
Not having a boat may be a problem here as the cottage we have rented can really only be supplied by boat. We are located on the west side of Elbow Cay in a small inlet on a 1.8 acre property called Fry’s Mangrove which actually has 2 small cottages on it.
It is possible to get to the property by land, but it is a 30-minute walk to Hope Town. There are some paved roads for part of the way, and then some small dirt roads that only a golf cart can pass, the last part is rocky terrain that can only be traversed by foot, and even then, it can only be traversed by foot at low tide. Maybe we could make it through by foot with a 6-pack of beer. Definitely could not make it with a case of beer. What about trash removal? No service for that here. Fresh Water is only available from rainwater. Years ago the owner did get some electricity in here so we do have power. I don’t know how but the WiFi signal is really good here, just about as good as in the U.S.
The cottage is quaint but it is only furnished with the basics. The property here is so private we cannot see any of our neighbors. The acreage is well landscaped and there is wild life everywhere. We do have a dock with about 3 feet of water at low tide. Hope Town is only 5-minutes away in a small power boat. We have bought a couple bikes and a friend of ours here has said he has a small Boston Whaler he will rent to us for the winter so we can get supplies and remove trash.
We have only been here three weeks and there have been a lot of activities here in Hope Town. Our friends in the other cottage on this property invited us and 10 other people over to their cottage for Thanksgiving dinner. My birthday was last week and we had a few friends over for a birthday party. This week we attended the Hope Town School Christmas Play and attended the Hope Town Christmas Tree lighting ceremony. Dena and I also assisted other cruisers in installing Christmas Lights on the Hope Town Lighthouse.
Below are a few pictures of the property. This is definitely island life…..the way it used to be.
Our Home until April
Our Deck with a Hanging Bed for Afternoon Naps
The View from Our Deck
Retirement Planning Helpful Hint
At some point in time your portfolio will have grown to a significant size. When it does, it is especially important to monitor your portfolio. What size am I talking about? I would say a significant size retirement portfolio is about 3 to 4 times your annual family income. Over the years I have talked to a lot of people who obviously do not monitor their portfolios. Often I am told they do not have time to monitor their portfolio. I am incredulous when I hear someone say they do not have time to monitor their portfolio.
I find it surprising for two reasons. First, monitoring one’s portfolio does not have to be time consuming. When I say “monitor,” all I am saying is to keep tabs on your equity allocation to be sure it has not strayed too far away from your target allocation. If it does, you should re-balance your portfolio back to your target allocation. The second reason “Not having time” surprises me is there is a lot of money at stake.
Let’s take an example of someone who has an annual income of $60,000 and their retirement accounts total about $250,000. I assume a big reason people say they do not have time to monitor their portfolio because they are busy at their jobs. A $60,000 a year job is equivalent to about $30 per hour. If you regularly monitor your portfolio as well as pay attention to overall market valuations, you could pay yourself a lot more than $30 per hour. Let’s say you spend about 50 hours per year monitoring your retirement assets as well as educating yourself on investing; and 50 hours per year is a lot more time than what is necessary. Further, let’s say you have been doing this for 5 years for a total of 250 hours. If this time spent allows you to avoid a 20% portfolio loss or $50,000, that is equivalent paying yourself about $200 per hour ($50,000/250 hours).
I think many people are not keeping things in perspective.
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