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I am struggling to grasp the meaning of the thread title here, because it is so incredibly broad and vague as to make me wonder what it even means. It seems to subsume almost everything I've read in this Retirement Forum over the past three and a half years. It seems to be an invitation to all of us (minus the few who are actually "wealthy") to tell our circumstances - sort of another chat thread without that specific title.
So I am scratching my head in puzzlement. OP?
Nothing much to puzzle over. It's for retirees/seniors who are not so "all set" (in their own minds) as most of the others on CD-R seem to be. It's about considerations about life choices and sharing information, ideas, and resources. It is intentionally broad, partly because sooner or later every single thread on CD loses its focus and becomes broad.
I'd thought of reviving the Retiring on a Literal Shoestring thread but it's become a very long unwieldy thread and I'm tired of hearing about the word "literal." A fresh start, if you will. A general discussion.
There are many threads to choose from, from the serious to the trivial, so if this one doesn't attract you that's understandable. It's possible this thread will fall into extinction and we can continue the preponderance of threads regarding wealth.
I am not there yet but I plan to quit working at the age of 62 and move overseas. I still have a house in my country of birth and there I could live comfortably on 1500 per month.
I'll still have a house here, just in case I need US medical system. My son will live in it. I might work as a contractor few months per year till I retire - i'm a software engineer and the are lots of short term assignments out there especially for people who know older systems - and just do something else in the rest of the year.
My retirement will be very active and I will travel as much as I can.
I am not there yet but I plan to quit working at the age of 62 and move overseas. I still have a house in my country of birth and there I could live comfortably on 1500 per month.
I'll still have a house here, just in case I need US medical system. My son will live in it. .
That sounds like a workable plan. We've thought of doing something similar, keeping and renting out our house to a relative and living in another less expensive and more attractive state, having a place to come back to. Need to find out the tax implications. Interesting about being able to live on 1500/month in another country.
Saved well, (single income ..'hourly' ... i.e. worker bee)
Worked multiple jobs,
Diversified and risky investments. (won a few, lost a few but result far exceeded 34 yrs of 'wage' income)
Retired pre-age 50
Live comfortably but frugally on minimal expenses. Monthly: $100/food
0 for fuel (in my 50 mpg car that is 37 yrs old)
$18 / car maint (<$250/yr)
$70 utilities
$1700 Healthcare
$1220 Property taxes ($14,400/yr ... up from $800/yr)
Travel $$$. I spend as much as I can spare. I'm gone 80% of the time and LOVE it (while I'm able). Currently 'working' a temp gig in Thailand. Great to get paid to travel (when you like to travel...)
Moderate climate. Year round gardening is possible...
Sorry, I'm so not buying that you only spend $100 a month on food. I don't care how big your year round garden is or how frugal you are or if it is just for one person(?). It is an ongoing challenge to keep my food bill down (and eat healthy) as it is for many people. It doesn't matter what state you live in food is expensive even for us "frugal" people.
It makes no sense to me (and probably most of the forum's readers) that 1) you keep a home that costs you $1220/month in real estate taxes even though you spend little time there and 2) b**** about health insurance costs while simultaneously criticizing the ACA, which would afford you and your spouse smaller premiums. Yes, I know you built your home with your own two hands and understandably, would not want to part with it. But Geez Louise, your choices seem totally irrational.
Not retired but for those families that can manage it I would think living with 3-4 generations under one roof would offer the best advantage for all. Imagine the benefit to families with young children, not necessarily childcare but for multigenerational influence. Additonally, offers a greater way for household to each economic stability and support one another in more ways than just economical.
We are in the process of doing a VERSION of this. We won't be under one roof but will be very close with separate living quarters. It will enable us all to have some of the benefits you mentioned.
This thread is an open invitation for many to boast about their retirement savings/income. Oh, and also to add in how many homes they own.
Not being one of the above, and being on limited funds - I live frugally, pay rent accordingly, don't splurge on unnecessary items. . . and am very content. My goal to retire was to quit working, and I am living that goal and have no regrets.
Love this....your opening made me think of John7777s post.
We will be retiring in 2 years if Hubby makes it that long. We bought an inexpensive house in Weirton WV, all the places we need are either within walking distance or short drive. general costs there are much lower than here as well.
I have for some time been shopping food sales and canning or dehydrating food and vacuum sealing it with the hope of not only being prepared for emergencies but also to supplement our food when there is little money, after retirement. As a result I am always buying food that is on sale rather than full price.
The house I bought is large enough to have family move in or stay if necessary but also was adaptable to one level living for the two of us.
Health care is going to be the biggest hurdle, we will be living on SS pretty much thats it.
I am also hanging on to extras of various appliances large and small as back ups in case the ones I am using fail, since I know I will not have money to replace such items.
This thread is an open invitation for many to boast about their retirement savings/income. Oh, and also to add in how many homes they own.
Not being one of the above, and being on limited funds - I live frugally, pay rent accordingly, don't splurge on unnecessary items. . . and am very content. My goal to retire was to quit working, and I am living that goal and have no regrets.
I'll be saving $70.00 per month on health ins. by moving to a new state. These savings may be offset by higher fees for other things - time will tell.
All things must be considered: all the various insurance requirements, housing, gas, food etc...
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a temp gig in Thailand. Great to get paid to travel (when you like to travel...
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