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Old 11-09-2011, 08:53 PM
 
Location: Near a river
16,042 posts, read 18,997,544 times
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Quote:
Originally Posted by lenora View Post
You may not have a spouse, but why can you not get a roommate?
Yes a housemate can be much better than a spouse...more reliable, etc.
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Old 11-09-2011, 09:19 PM
 
Location: Oklahoma(formerly SoCalif) Originally Mich,
13,387 posts, read 16,751,850 times
Reputation: 4611
Quote:
Originally Posted by nebulous1 View Post
We? I don't have the luxury of another person to contribute or lean on.
The reason you're doing well is there are two of you under one roof.
NOTE:
The person in reference, (jammie) has not been with CDF
for several years now.
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Old 11-09-2011, 09:43 PM
 
Location: USA
4,980 posts, read 8,443,855 times
Reputation: 2506
Quote:
Originally Posted by lenora View Post
You may not have a spouse, but why can you not get a roommate?

Bring a stranger into the house I rent? Have to lock up my finances, computer? Not have any privacy? Why would I risk that?
I rent, and I cannot just sublet to someone. It is in the rental agreement who lives here, anyway.'
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Old 11-09-2011, 10:45 PM
 
Location: Tucson/Nogales
17,428 posts, read 21,272,660 times
Reputation: 24270
Quote:
Originally Posted by brightdoglover View Post
(My personal backup plan is the on 55+ mobile home park in my town. It's very decent, although mostly car dependent).
People will move to mobile home parks in the Southeast or somewhere cheaper. They will do what they have to do. They won't like it.
I've gotten on mhvillage.com and cased 55+ mobile home parks across the country, realizing entire parks are often sold & re-purchased, and that route seems too unpredictable for me. The new owners of the park could jack up the rent lot, then what? Go thru the costs of moving your home to a cheaper park? To me, there's just enough control. And I won't consider retiring somewhere where I can't be car-less, a huge savings!

Buying a condo or into a co-op, is like being in a mobile home park, dependent on the management of the complex to control the costs, spend the HOA fees prudently. But, at least, you can participate in the meetings, join the board if you want to help oversee the operations, be vigilant over potential corrupt board members.

I'm looking at a retirement co-op complex with $175 a month HOA fees which covers a lot more than condo fees. So I must think: Over time, will those fees go up to the level of some of these mobile home park lot rents of $300-$500?

Myself, I'm ready to gamble on a co-op or Condo, and I'm only expecting to have $25-30k cash to buy something, which is quite possible in states with the more depressed real estate prices like AZ. I also plan to buy a 2 bedroom unit, so I can rent out the other room, I've been doing that for years now anyway, it would be nothing new!

I'll just need a ground level unit to park my electric bike inside!

Last edited by tijlover; 11-09-2011 at 11:31 PM.. Reason: Add lines
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Old 11-09-2011, 10:53 PM
 
Location: Tucson/Nogales
17,428 posts, read 21,272,660 times
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Quote:
Originally Posted by Bideshi View Post
I don't know your particulars, but if you will have $800 or more in Social Security income you can get Pensionado (retiree) residence status in Panama. The health care there is much cheaper than in the US and I have been told (?)that they are beginning to accept Medicare. It's a big culture change, but the cost of living is quite a bit lower. It might be the difference between "dying in the harness" or having a few years of hard earned rest.
The global world will come to every corner of this world some day, so I'm wary of ex-patting it anywhere. Fertility rate has dropped to 1.9 in Mexico and how's that going to effect the cheapness of living down there, down the road? Will they allow immigrants from Central America to take up the slack?

A better idea for me, is to live as close to the Mexican border as possible when I retire (Tucson) and take advantage of some still cheaper medical/dental care and drugs there.

And as Panama continues its route to prosperity, where will the immigrants come from to keep it a cheap place to retire, when other countries will be competing for them?
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Old 11-09-2011, 11:11 PM
 
12,671 posts, read 21,070,398 times
Reputation: 2625
Quote:
Originally Posted by nebulous1 View Post
How many here will be like me and not afford to ever retire?
I have not been able to save enough and got hit with some big medical bills that wiped me out.
Planning for retirement doesn't work when you need every penny.

I want to hear from others who are in my shoes.
Are you able to save that money and file for BK?
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Old 11-09-2011, 11:58 PM
 
Location: Tucson/Nogales
17,428 posts, read 21,272,660 times
Reputation: 24270
Quote:
Originally Posted by newenglandgirl View Post
LOL--my dog and I have been known to eat the same thing on many a night such as: mix cooked brown rice with steamed or sautéed (in olive oil) cut-up veg's and skillet-browned ground chicken or lamb, serve hers with a sprinkle of bone meal and ground flax seed, and then mine with a toss of rosemary herb...works for us. She doesn't get onions (a no-no for dogs) so I sauté those separately for me...and she doesn't get my dessert.

PS: We are both retired on a shoestring.
Part of my planning for retirement was forever trying new recipes through the years, putting them into a photo album, so cooking experiments still continue, as I love to cook, but I have a whole stockpile of delicious recipes for every occasion:
when I have some extra $$, when I don't, when I'm down to my last $5 before "payday", and what I can cook up from foraging thru garbage bins!
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Old 11-10-2011, 05:35 AM
 
Location: Londonderry, NH
41,492 posts, read 51,426,259 times
Reputation: 24613
I would like to thank you for Rep point for something I wrote in 2008. Well it is three years later and I am still employed full time. We expect the mortgage to be paid in about 18 months so that pretty much sets the retirement date. With the reduction in commuting expense and lunches we expect to have about as much spending money as we have now.

Given the inflation in travel expenses from $70 per night for a double room to around $100 per night with a matching increase in restaurant food, I figure I will need a part time job to afford our snow birding or relocation from NH to NM.

The biggest uncertainly in our financial future is medical expenses. Although I have very good insurance through my employer it looks like co-pays and other uninsured expenses will become a problem. There is no way to plan because of the uncertainty of the situation.

This is one of the reasons I believe we need a Universal Health Care System that eliminates the corporate management costs and profit from medicine. I have no problem with paying nurses 75k and doctors 200k but I do not see why a big Pharma, insurance or medical center CEO should be paid 1,000+ for doing little more than book keeping. Or stock holders receiving high returns from owning a business principally supported by government. The private medical oligopoly has to be broken up or replaced with a government owned system.
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Old 11-15-2011, 06:11 PM
 
8,208 posts, read 11,927,697 times
Reputation: 18031
Quote:
Originally Posted by mkfarnam View Post
...where's this new thread "Retire on a shoestring" you mentioned.
Quote:
Originally Posted by newenglandgirl View Post
It's in the Retirement Forum, same as this one is. See the thread title in the lineup of threads--it usually hovers around the most recent page.

Or Google: city data forum retiring on a literal shoestring
Wouldn't it be easier just to provide a link to the thread?

Retiring on a literal shoestring: support group
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Old 11-17-2011, 06:29 AM
 
29,809 posts, read 34,900,894 times
Reputation: 11730
Quote:
Originally Posted by brightdoglover View Post
When people say they're not able to retire due to finances, I wonder, what age are you considering? The average woman lives into her 80s, men a few years behind. You might not be physically able to continue working, and you certainly might not still hav a job if able. I think "retirement" could be considered full Soc. Security age and/or Medicare age. Anything before 65 runs the issue of health insurance, a huge issue.
I'm not sure where the idea came that retirement could or should be significantly earlier than 65, but if one lacks retirement money, things do change at 65- modestly, but change.
I never understood how people could retire before 65, average working people. Maybe I didn't understand company pensions, or retiree health benefits, both of which are becoming a distant memory.
Your point about retiring before 65 is very accurate. I have been a long time reader of Money Magazine and other like publications. They feature stories on retiring early with case studies of folks who did and are on that path. It is/was very clear that you needed to be able to accomplish have certain things in order to be able to retire at 65 or sooner. Whether it was a pension or strong investments or a a combination of the three pillars etc you needed to have them no if ands or buts. Obviously if your employer didn't offer a pension you didn't have that pillar and need to up the other pillars etc. Objectively not everyone was going to be able to accomplish it but in popular culture it was embraced by those who either could not or would not avail themselves to the path. It was the mass marketing of an idea that was not available to all. I know a lot of people who have pensions and very good ones(they might not think so) but they do. Some are in good shape to retire and have others are not. Some invested in addition to their pensions and others felt that a pension meant they should not have to. I have worked with and helped others with their retirement planning and it is amazing how little they knew and how little they had crunched the numbers prior to be at the point of wanting to retire. Many were not even aware of how to crunch the numbers or what they REALLY needed. Many only knew what they currently made and how their pension compared to that. Many complained they would not be able to retire until the were SS eligible and resented having to wait until full retirement age. Some resent those who were able to and did retire in their late 50's and early 60's. One of the things that was often missing in working year discussions was investments and growing money which in some circles is taboo and in others common discussion. I suspect those who talk about it were probably more focused on it. I know there were those of us who did discuss it and others who resented our discussion etc etc. A frequent poster in here was featured in one of their articles and that was a good read. What helped us were the features on folks with backgrounds similar to us and how they did it.

Last edited by TuborgP; 11-17-2011 at 06:42 AM..
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