Aging and life choice considerations for seniors who are less than wealthy (years, payments)

[foglover]

Originally Posted by old_cold

What would you have us do? Knock off our spouses or simply not refer to them?
I am not fond of the phrase, but for those that are half of a 'we', it is what it is.
Perhaps you need to stick to the 'women retiring alone' thread

Your point is well taken of course. My testy comment belongs elsewhere in a different conversation that I am having and not even sure why I flung it at this crowd. I wasn't aware that there is a women retiring alone thread - don't visit CD often.

[Windwalker2]

Originally Posted by foglover

Your point is well taken of course. My testy comment belongs elsewhere in a different conversation that I am having and not even sure why I flung it at this crowd. I wasn't aware that there is a women retiring alone thread - don't visit CD often.

A moderator changed the thread to include both men and women retiring alone. That may be why you can't find it.

[Meadow1958]

This somehow got entered many many pages later than where I started to insert the comment at page 1, musta hit a button - sry if it doesn't fit with the current pages flow.

Hi, Ret. USAF 100%DAV and just can't do the Finger Lakes NY winters anymore. I'm new at this - just joined, started and participated in a few threads this past week concerning moving to NC or E TN. I am also a bit "tickled" if you will and I agree, a bit confused. Not so much with the purpose of the originator's phrasing (I think I know basically what the may be looking for) but with the replies, interesting for sure.

So far I have yet to see anyone in what I could picture as being on a "Shoestring" budget. I imagine "shoestring" as being just the basics and requiring careful management to obtain them and anything else that wasn't truly a necessity.

What about others? It's very relative to each persons experience. That's probably the real issue here I think, you just have to narrow it down to an income range, or at least assets or lack thereof.

So, here is my specific.
As I stated at top - Ret. USAF 100% DAV, 6 grown kids, mother I watch out for but lives in low income senior apts. I have never owned a home or lived in an owned home as a child - yes, it is a dream - mostly to leave it for my kids to have someplace theirs and paid for. I do not have a portfolio or a saving but after raising 6 kids (5 adopted), I can say I am pretty proud to be debt free.

My bottom line "forever" (tongue in cheek here) benefits or retirement:

1. 100% medical coverage including everything, eyes, teeth, cancer, whatever, as long as I position myself to a VA Medical Center providing all those services (no that hard, good ones aren't hard to find). I have earned an income of $36K, tax free of course. I have the benefit of first time home buyer and VA loan when I get ready to buy and also a few perks (depending on the state) in the area of house taxes and home improvements, and the typical discounts occasionally offered.

2. I do not have children who depend on me to bail them out of life's troubles or call home for money every other month or even year. Have only had to help one of the six in an emergency one time and another one got laid off and we joined households which actually helped me get debt free quicker as well. This is a huge issue for many people who I see lay out tons of money to help their children and or give them expensive gifts or head starts. I give gifts to my kids/grandkids for Christmas/BDs and they are within my budget and my kids do likewise toward me.

3. I love to camp and fish, recreational walking. I have all the equip to do those things and a good bike and kayak too. I use a tent (as long as able) so I can save more toward a house downpyt rather than buying a small used RV which I could do and would love to do but because I really am on a shoestring budget - that means to me that I have to carefully choose the one "luxury" item at a time, I want to splurge on.

4. I know I'm gonna need a newer car in the near future so I have to cut back to be ready, so I recently cancelled cable and just kept the internet which cost me 200 a month when it went off special rate. They couldn't find a cheaper arrangement so I got rid of it dropping my bill to 75. Then added Hulu and Netflix and learned about torrent sites. It was a bit of an adjustment, not quite as nice watching on my laptop screen - but that's what you do on a "shoestring" budget. I, thankfully, love rice and veggies (in West Africa for 7 yrs you have to so I eat simply and, more often than not, some rice dish, casserole, or soup with varying meats, etc. I'd love to go to my version of expensive restaraunt, which is Red Lobster, and I can but I have to do it at a trade. I can't buy all the meats and treats when I go grocery shopping, or waste money on the "feel good" stuff - unless I'm willing to make a trade for something like staying debt free or being ready to get the next car without going into a squeeze, or finally being able to buy a house. If I go on a weekend trip somewhere close and spend a couple 2-300. It means I will be tight on groceries and gas for a couple months or I won't save anything. So I have only done this twice in the last ten years.

Now that I am finallly debt free (as of Feb. 2,2014), I will have 1000. a month beyond all living expenses and bills, and that sounds rich to me. It is the best position I have ever been in and it feels great BUT I don't have a savings, stocks, bonds, IRA - nada! I raised 6 kids before I was rated 100% and I was always running behind so now I feel "WEALTHY" - I have 1,000. a month to manage in such a way I can have another car when I need it (and I'd love a used Prius) and to save toward a house downpyt and to have at least 1000. in emergency fund for the car now. Puts 1000. a month in perspective pretty quick, still takes time and patience...lots of it.

I want to move south, can't do the shoveling, mom has breathing issues, and oldest son trying to get entry computer networking job with a future, and the bulk of people we love are on the east coast line NY to FL. Putting all that in bag n shake it up and then research the best place to meet all three needs, save 6 months. for moving and apt deposit, pack a U-haul, load my stuff and move to apt wherever, and mom in low income senior housing. Two weeks or so of very hard work will see us settled in two apts. Then we start exploring, make the adjustment and start saving and researching houses 120K and under... Then after a year of so, by GsG, I find that little ordinary place that's calling my name because I have vision and can imagine it's potential, and I buy it. Then I'm building and improving something to be for my kids or whichever one is gonna live in it when I'm gone. There's my story and idea of retiring on a shoestring budget and what it takes to get there for me.

Added to that is only that I am getting a couple insurance policies for myself for my mom and kids, only about 100. worth just in case I say bye first. My dad wants me to put at least $50 away a month for stocks, etc. When I get to a new place I'll do that...

Anyone else wanna share their idea of a "shoestring" retirement as the originator asked?

[StealthRabbit]

Originally Posted by foglover

I am the one who originally sniped about the $4500 income. ... I stand by my contention that $4500 net is freakin' awesome and at least verges on 'wealthiness'. ... I am sick to death of reading that 'we'. ... 2-units seem unable to imagine what it is to face end-of-life issues alone. ....

Beware... There remains in the USA... MANY 'We (2)' units that have NEVER seen $4500 / month GROSS much less NET.


C-D retirement posters in no way represent a USA 'retirement' demographic cross-section. Forum is largely occupied by ex gov / edu pensioners (or retired professionals) who have a lot of time on their hands and the $$ to spend on the technology to be here (and a great chance to gloat, since they no longer have a water cooler audience to impress). We would probably all be better off OUTSIDE getting some EXERCISE by helping others.

As wealthy as folks consider me... (we) NEVER had a double income and always had dependent care of a parent, kids, or sick spouse. Did it all on an 'hourly wage'. 'Decent' pay but never above $4500/ month until the end of 30 yr career. Always working multiple jobs but NEVER even SEEING $xxx,xxx annual wages in the far distance. No HC or pension or inheritance... it all comes from disciplined savings of an hourly job (often below $2/ hr). (of which the HC providers and GOV are itching to collect our ENTIRE amount ASAP)

Finally full circle... back to having my time worth $2/hr, except for C-D time... $0.02/ hr (same as current interest rate).
How to eat and live on a few hundred dollars / month ?... just try it (by necessity not choice) BTDT 4 Many yrs.

$4500/month is 'lottery' dreams for most retirees in USA

[old_cold]

Originally Posted by Windwalker2

A moderator changed the thread to include both men and women retiring alone. That may be why you can't find it.

There's a new one.....
Chapter TWO: Women Retiring Alone. Did you Do it??

Says" did' but people that are anticipating usually also join in most topics.

[Restrain]

I retired on full disability 2 years ago due to health reasons, what is not important. Wife and I hit 65 this year. We have saved, and are going to sell our home in Texas, move to Florida. We can get a lot more house where we are going, lower taxes, lower utility costs. Will have the home paid for free and clear. Moderate climate. Humidity does not bother us, lived in Houston. Between savings, SS, limited retirement income, we will do OK. Wife will continue to work some (self-employed) for extra income for the next several years, until she says enough.

Having no HOA dues, house payment makes retirement much more doable.

Now we did look at the mfg homes in FL, and the going-in cost is great. You can have your pick for $15K or less. However, there is a $600 +\- site rent that put us off. If that is not an issue for you, those are a great housing deal. Just pick your park, home.

[LookingatFL]

With the manufactured homes you also have the tornado and hurricanes to worry about. You would be evacuated to a shelter. Where in FL are you thinking of moving?

[N.Cal]

Then added Hulu and Netflix and learned about torrent sites. It was a bit of an adjustment, not quite as nice watching on my laptop screen - but that's what you do on a "shoestring" budget.

Spend $100 on AppleTV and then you can watch your Hulu/Netflix/etc. through your internet/computer but on your TV screen (if you have an HMDI port on the TV).

[brokensky]

Not to cause more confusion but I think it may be cogent to this discussion that the "average" annual amount across the country for retiree income is $35,107.

Seniors in 48 states face serious income shortage, study finds - Jun. 10, 2013

[Travelassie]

Originally Posted by Red On The Noodle

The $4.99 Costco chicken is now $6.99.

A few cents for water? Unless you are not bathing or washing your clothes, your water bill (plus taxes and other city/municipal charges) is more then a few cents.

Hmm. Found this in the Frugal Living thread -- post #4

My new house is 954 sqt feet, how much do you think the electric would be?

It's still $4.99 (and three pounds) at Costco, and BJ's in this neck of the woods.

Perhaps the OP has well water ( as we do) and that few cents comes from heating it up when you want hot water.