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Yes, do keep the updates coming. I look to older retirees such as you and your wife for inspiration and as role models as to where I want to be a few years down the road.
Another update . Now officially retired for 30 years, married for 60 years. and into our 83rd year. Who knew?
All health issues good. In fact, DW and I are now doing twice weekly exercises at A.J.'s Fitness Center, a major part of our CCRC. You have to see it to believe it. about 205 up to date machines, all fully automatic. You have a credit-type-card that programs your workouts. Each machine works a different part of the body. After an evaluation, and a "try" in each machine, the physical therapist sets a schedule, that ID's the machine and sets an incremental program for the time and number of repeats, resistance level, and seat, arm and leg distances.
...after that, you simply check in and put your card in the machine, and ... exercise.
It's all free as part of our CCRC "Campus" activities.
We're still happy and relatively healthy.
If you're new to the thread, and care to see where we live (in a Villa) look for Liberty Village Peru, IL, or... Simply the Finest... to see all steps of a full service retirement community. More on earlier posts of this thread.
Location: Was Midvalley Oregon; Now Eastside Seattle area
13,075 posts, read 7,515,583 times
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Quote:
Originally Posted by PartIrish
Leastprime, can you elaborate on the "needs" variable in this equation? I did see some discussion of this on the Bogleheads forum, but not sure I understand the needs calculation over a time horizon. Do you take the expected annual distribution from assets (which is over and above fixed income such as pensions and social security) and multiply it by the number of years expected? Or do you do some sort of present value calculation of the total amount needed over the time frame?
Thus, if I believe that DH and I will need $36K/year from our assets for 30 years, and we have assets of $1 million, how would that calculation look?
I didn't bookmark this thread and it just popped up on " new posts".
Funded Ratio (FR) is nothing more than retirement expenses divided by retirement income . this is either monthly or annually. It's really just budgeting. We keep the volatility of Income low by use of annuities and rentals. We keep trading accounts to manage short-term needes. See Bogleheads...org, see 'bobcat2', overthere, who is I think is a knowledgeable economist-actuary.
Last edited by leastprime; 12-12-2018 at 11:37 AM..
My wife and I are ages 59 and 62 respectively, and we are considering a CCRC in our future. We have lived in our 2-story subdivision home for almost 38 years, many of the neighbors are also long term owners but the frequency of For Sale signs in yards is definitely increasing.
We know, based on the experience of friends in an identical home, that a stair lift can easily be added if ever necessary and later removed without a trace. My wife sees no reason to sell our home and move. I would be open to the idea of moving if we gained something. At some point in the future that "Gain" will be additional freedom and independence that our 2-story home will be taking from us, and at that point I am sure my wife will agree to a move.
Congratulations on your successful long term retirement! I only wish Liberty Village had developments in Michigan, as your descriptions sound perfect.
pushin80: Just wanted to say that I've greatly enjoyed reading your postings, and look forward to many more. Your tips and philosophy are thoughtful and useful guideposts, even for those of us who are a "few" years behind you. (And your location brought me a smile, for it prompted me to recall carrying my son in a backpack while hiking at Starved Rock long ago!) Thank you.
pushin80: Just wanted to say that I've greatly enjoyed reading your postings, and look forward to many more. Your tips and philosophy are thoughtful and useful guideposts, even for those of us who are a "few" years behind you.
Same here. I really enjoy reading your updates. However....
Quote:
Originally Posted by pushin80
Frugality... much to say about this, and lots of detail, but here's something to look at, and consider:
Things that we don't spend money on:
Life Insurance New Clothing
Haircuts
Hair styling Pedicures/manicures
Beauty products Movies
Concerts
Sporting events
Restaurants (more than $8 meal) Books Music "New" Computers (since 2002)... all refurb or reclaim
Software... (Twice in lifetime.. total $30) all other "free" Car maintenance labor... all DIY except 3 times for major repairs
Brand vs. Generic foods
Premium meat or fish
Financial Advisor
Lawyer
Chiro/Massage/Tan etc.
Tatoos... New Home Decor.. (all resale)
Cars.. since 1998... Car Wash and wax... since 1989
Premium TV channels New Bikes or Exercise equipment
Sporting goods Cruises (so far) Group trips Flying (Airlines)
Lodging (more than 3 star)
Premium Gasoline Tools (already have more than I'll ever use, including welders etc.)
Housekeeper
Carpet Cleaning
Window/Gutter/Furnace etc. Cleaning... all DIY
Premium booze/wine...
Jewelry
Organic foods
Brand sodas
Painting, remodeling
Weapons
Subscriptions (AARP only) Gambling Banking or Credit Card Fees
Appliance or Electronics insurance Eye Glasses... except for $1 readers (since 2000... maybe eye test this year.)
Pets... (except bird feed) Healthcare maintenance... exercise equipment, pool, advisor etc... (all included in our senior community membership). (no fees) Pest control... DIY
Only "fee for" is Activities Association (FL).. $6/year
It's the kind of stuff you do when you retire early without bundles of money. But... Ya know what!!!...
In all of that time neither of us ever, ever felt we were sacrificing. We did everything we wanted, and never felt poor or disadvantaged. Would do it again in a New York Minute.
I could never do without the bolded items. Not saying how you live your life is wrong (and let me emphasize that again); however, I could never live my life without traveling, going out to movies, live theater, concerts, and sporting events; going to nice restaurants, etc. I could probably do without buying new cars, clothes, computers, and other items as frequently as I do, but the items I mentioned above would be non-negotiable.
Same here. I really enjoy reading your updates. However....
I could never do without the bolded items. Not saying how you live your life is wrong (and let me emphasize that again); however, I could never live my life without traveling, going out to movies, live theater, concerts, and sporting events; going to nice restaurants, etc. I could probably do without buying new cars, clothes, computers, and other items as frequently as I do, but the items I mentioned above would be non-negotiable.
And a big thank you from me... If I had a little more money, I too would probably have spent a bit more to keep the economy going,but we did with what we had, and never felt we were missing anything. We did most of the things you noted in the early days, but once retired, and living with other early retirees, there was so much to do, that truthfully, there wasn't time for outside entertainment. Both of our snowbird places were filled with so many things to do, that we spent our hours with people who were like minded.
Nowadays the energy level at age 83 is a limiting factor... Now it's not the money, but the inclination to take on the continuous hours of activity inherent with the to-from travel. We do have friends who are our age and older, who still do international travel, cruises and the like. It's just not us... More like a quiet night of TV, or just sitting by the fireside listening to music, or reading library books that are available from our CCRC.
Without going back to read the whole thread to check for my lies, just a little continuation to update what is now, probably just a boring life.
Jeanie and I are probably happier than ever, as we're in pretty good health, and despite being in our igloo for the past month... are getting along better than ever.
Life is very calm... no worries about money, health, family, (who are all doing well)... and absolutely no obligations. Only aggravation is weather... will spring ever arrive?
Meanwhile... a very recent news article that I found riveting, as it put into a different perspective the subject of Alzheimer's... I would suggest it to anyone who is facing this for their parents, relatives or friends. The article puts a lighter emphasis on dealing with anyone who is affected. I commend it to your attention.
In a way, we have found our way to this state of dealing with my own dementia. Acceptance. And confession... What a total difference. Not just for myself, but for the people who live in our CCRC community... visiting the Alzheimer unit, and being able to break through the blank stares, and permanent sorrow... to make a connection with the inner self that exists behind the shell. Instead of trying to explains, let this simple quote from the article speak for itself.
Quote:
Tom and Peggy Misciagna were sitting in their Manassas, Va., home recently, talking about the children they adopted overseas in the 1980s, when Tom, 64, misremembered a major detail.
“We got two kids out of India — ” he said.
Peggy, 59, chimed in. “Philippines.”
“Oh yeah, Philippines,” said Tom, a retired CIA officer. He grinned wryly at his wife. “That’s Ollie talking.”
Ollie is their nickname for Alzheimer’s, the disease Tom was diagnosed with seven years ago. For the Misciagnas, Ollie is a third presence in the house, one they never invited in. But since he’s here, they’re making room for him. And though it might seem counterintuitive, they are even trying to have fun with him.
That approach — giving the illness a nickname, smoothly zigging after hitting a zag — puts the Misciagnas in a growing camp of people determined to approach dementia care differently, coming at it with a sense of openness, playfulness and even wonder.
It is in stark contrast to earlier generations of Alzheimer’s patients and their caregivers, who saw the disease as something to be hidden. Even now, fewer than half of Alzheimer’s patients are told they have it, according to a 2015 Alzheimer’s Association report, and a 2012 study found it surpassed cancer as the disease Americans fear most. It has been swathed in shame, stuck in what Bill Thomas, a geriatrician who is working to change attitudes about old age, calls “the tragedy narrative.”
Pushin80, thankyou for such a Brilliant post with updates. A friend of mine has a nickname for her dementia persona and it really helps her and those around her. To live a life with such love and enjoyment may be boring to others but sure doesn’t sound boring to me.
My husband and I don’t have a bucket list and have never really grabbed onto the idea. We figured if we really wanted to do it we would have done it. Like you we are frugal and always have been ( early cultural conditioning from our respective countries) so we are able to enjoy doing what we want without any worries.
Ps. Your financial plan is similar to ours although we are only one year into my husband’s retirement, so it has been comforting to read. Thank you .
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Now officially retired for 30 years, married for 60 years. and into our 83rd year. Who knew?
