U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-24-2014, 06:39 PM
 
Location: Near a river
16,042 posts, read 19,031,274 times
Reputation: 15649

Advertisements

Quote:
Originally Posted by brightdoglover View Post
My back up plan (back up to working four more years, getting my old-fashioned defined pension and then a year later, Soc. Sec.) is to sell my dream house and move into a mobile home in the same town, assuming I want to stay here and can handle the other expenses of this area. In all circumstances, I am planning to have enough money to hire help of some sort or another. If need be due to frailty and advanced older age, I'd sell the house and move to an Erickson community north of here and be in the continuing care world. If I had some disaster in the next four years, I'd go bankrupt on my debts (should be paid off in about 2 years or so) and disability, savings and old-fashioned pension would pay for mortgage and daily life.

Assuming my health holds up, I might continue to work part-time (every weekend and get paid time-and-a-half for those two shifts) while taking my pension and Soc. Sec. I don't have any major plans to be away for months or years or start another career or anything. I frankly have done virtually all of the things I might have left for retirement (going back to school three times, changing careers, leaving the state, leaving the country, joining Peace Corps, studying music, working in a trade, etc. etc.) I have left quite a trail and and would just like some stability and peace at this point.
Sounds like you're a thinking person.
Reply With Quote Quick reply to this message

 
Old 06-24-2014, 09:51 PM
 
1,734 posts, read 1,956,111 times
Reputation: 3907
Quote:
Originally Posted by brightdoglover View Post
My back up plan (back up to working four more years, getting my old-fashioned defined pension and then a year later, Soc. Sec.) is to sell my dream house and move into a mobile home in the same town, assuming I want to stay here and can handle the other expenses of this area. In all circumstances, I am planning to have enough money to hire help of some sort or another. If need be due to frailty and advanced older age, I'd sell the house and move to an Erickson community north of here and be in the continuing care world.
Bright, pls excuse me for being dull, but what is an Erickson community? Thanks in advance!
Reply With Quote Quick reply to this message
 
Old 06-24-2014, 10:08 PM
 
Location: Sacramento
13,784 posts, read 23,845,248 times
Reputation: 6195
Quote:
Originally Posted by newenglandgirl View Post
So much goes into retirement planning including dreams of what we'll do and where we'll live. I wonder, after reading some stories here, how well we adjust (or don't) to the unexpected that "cannot be planned for" (re: Curmudgeon's recent post). I'm a what-if person (probably due to a former stint at the American Red Cross) and like to have backup plans. Do most folks have a Plan B, and even a Plan C? Or fully confident in Plan A?
Our plans blew up the year before retirement, when our plans to move to the Minneapolis area didn't work out and we ended up moving to Sacramento, California, instead of Minnesota. The cost difference was quite a bit to absorb, but we had sufficient reserves to bridge the gap and still pull off the move.
Reply With Quote Quick reply to this message
 
Old 06-24-2014, 10:46 PM
 
Location: Boca Raton, FL
5,200 posts, read 8,723,157 times
Reputation: 6233
Smile Writing a book....

My husband will be writing a book about what happened to us.....more on that to come. It's quite a story.

At one time, we were planners. Both Libras, everything's got to balance.

But then....the most unexpected thing happened.
Reply With Quote Quick reply to this message
 
Old 06-25-2014, 05:03 AM
 
Location: in the miseries
3,302 posts, read 3,592,422 times
Reputation: 3810
Quote:
Originally Posted by jane_sm1th73 View Post
Bright, pls excuse me for being dull, but what is an Erickson community? Thanks in advance!
Ericksen community. Look up Brooksby Village Peabody Ma.
You can move in and they keep you until you depart this world.
Reply With Quote Quick reply to this message
 
Old 06-25-2014, 05:06 AM
 
Location: Near a river
16,042 posts, read 19,031,274 times
Reputation: 15649
Quote:
Originally Posted by Bette View Post
My husband will be writing a book about what happened to us.....more on that to come. It's quite a story.

At one time, we were planners. Both Libras, everything's got to balance.

But then....the most unexpected thing happened.
Don't leave us hanging! Can you tell us a little?
Reply With Quote Quick reply to this message
 
Old 06-25-2014, 05:06 AM
 
16,437 posts, read 19,181,579 times
Reputation: 9525
Quote:
Originally Posted by Bette View Post
My husband will be writing a book about what happened to us.....more on that to come. It's quite a story.

At one time, we were planners. Both Libras, everything's got to balance.

But then....the most unexpected thing happened.
Of course we want to know what?!
Reply With Quote Quick reply to this message
 
Old 06-25-2014, 07:15 AM
 
Location: Loudon, TN
5,872 posts, read 4,885,739 times
Reputation: 19748
We are living plan A still. Plan B would be a serious illness, our health insurance from our old employers covers most of that and has an annual out of pocket cap that is do-able for us, unless we BOTH get a serious illness. That might make it a bit tight, but we could make adjustments. I am the younger spouse by 5 years and have LTC insurance to cover me if H should go first, as statistically is the norm based both on gender and the age difference. If he becomes ill, I will be the caregiver as long as I physically can.
I think one possibility that no one thinks about is divorce in senior years. That would be a tough one to deal with because our plans are predicated on BOTH of our pensions. We would survive, but it wouldn't be pretty and would certainly require MAJOR adjustments to lifestyle for both, so I think we will always strive to keep each other happy in our marriage even if things ever get rough.
Of course the death of either of us would be a terrible blow emotionally, but financially we would be alright. We made sure that our pension survivor benefits would allow us to pretty much carry on without a huge change of circumstances. If that option was not available to us, I think we would have gone the life insurance route. As it is we don't really need to have it. We can self-fund our final expenses without any problems.
The only other monkey wrench would be if our pensions failed, but that would mean the state of CA would have to fold! Even that is somewhat covered because I believe that gov't pensions are covered by some form of pension protection plan, but I'm sure the amount would be reduced fractionally.
I think we have planned as well as we can and we are making sure that all beneficiary designations are done. We do need new wills and I hope to get that done soon. We still maintain some separate financial accounts (we married only 9 years ago and had individual assets we did not want to combine at that time), and I will make sure that we both put those in "transfer upon death" status ASAP.
Reply With Quote Quick reply to this message
 
Old 06-25-2014, 07:17 AM
 
Location: The Carolinas
2,010 posts, read 2,026,874 times
Reputation: 6110
Humans make plans: God laughs.
Reply With Quote Quick reply to this message
 
Old 06-27-2014, 08:32 AM
 
4,456 posts, read 3,717,584 times
Reputation: 3109
Quote:
As Stephen Hawkins said" Intelligence is the ability to adapt to change".
And for me to say Mr. Hawking is a smart guy is an understatement! He's had a number of challenges put to him. He looks like he's handled them very well even though he can't physically move. He's got a 'model' of the universe. We use him as a 'model' for as noted, 'adapting to change'. You can plan and plan and plan and dot the 'i's and cross the 't's but somewhere sometime it's 'heads up bang zoom' time. I like others apparently know this well!!...;-)...
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top