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Old 07-28-2019, 07:00 AM
 
72,689 posts, read 72,534,115 times
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Quote:
Originally Posted by Rachel976 View Post
Why do you say your parents had to "flee" to Florida, as if that's a bad thing? It was a bad thing for THEM because they wanted to be near their grandchildren, but many people see that as a goal - to move out of the city where they've worked and relocate to a beach place in Florida where they won't have to deal with winters. Add in that the cost of housing there would be HALF the cost of their northrrn city house, and they don't consider it "fleeing."

Remember...New York is NOT the best place to live (although many NYers think so), and there are many attractive options available at a fraction of the price. With that in mind, and circling back to the original question, $3600 is fine for the average person to live comfortably.
Quote:
Originally Posted by mathjak107 View Post
Ha ha ha , I would never have retired if all I had was 3600 a month here...

I would be living in the hood...


no one said 3600 wouldn't be fine in other areas ... i said it wouldn't work for us before you went on your rant about where you live in your 600k house which has zero to do with where i live nor what our standards we expect in retirement are . no one said anything about anyone else anywhere else
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Old 07-28-2019, 07:03 AM
 
72,689 posts, read 72,534,115 times
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Quote:
Originally Posted by Signs9 View Post
We live in southeastern PA (Bucks County) near NJ & NY. We've been retired for a few years (husband was forced into early retirement due to illness). For us we need & have been spending between 6-7K a month. I know others need more & some less....

We like to do a little bit of travel, I enjoy going out to nice lunches & dinners with friends and an occasional day in NYC to see a show....nothing over the top but I don't like to deny myself of simple pleasures.

So yes it really depends on what you want out of life, what you have & where you live.
i like new hope .. holy cow home prices shot up in new hope . for a while it looked like new hope was going to be the new hamptons as the play ground of the wealthy
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Old 07-28-2019, 07:09 AM
 
171 posts, read 93,022 times
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Quote:
Originally Posted by mathjak107 View Post
who cares what things cost or are like where you live , or what is an acceptable lifestyle to you to be honest .

you don't live here ..

you may not have the same expectations in retirement , costs or minimum acceptable standards that others do so any comparison is a moot point . 69k still qualifies you for a low income housing project here . there is a reason ....

600k here is a home in areas like jamaica , rosedale or many areas where most of us don't want to live if we can avoid it .... sure you can find cheaper homes in good areas but those homes are going require extensive renovation and are not 600k homes anymore .

in manhattan you can't get a decent studio for 600k unless it was in a less than stellar area.

in fact in our area in queens , not manhattan single family homes start at 1 million . co-ops apartments in apartment buildings are in the 300-400k range with about 1500 a month in maintenance being typical plus your mortgage .

so great you live on 4k a month .... it would not work for us . dont forget those living on social security alone who claim they are living comfortable lives look at your 4k and go that is nuts , no one needs 4k to live on .


https://qns.com/story/2018/08/23/nea...eid=e6b58712d9
My parents purchased a home in Queens Village back in 1963. We only lived there for two years until we moved to NJ. The cost of the home at the time (it was tiny!) was 21k. After reading your post I was curious to see what the cost in the area is today. Back then it was a nice enough neighborhood.....nothing fancy but respectable. I just wish I remembered the address or even the street!

After checking it out the median cost of the homes are 619K which was interesting to see.
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Old 07-28-2019, 07:12 AM
 
171 posts, read 93,022 times
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Quote:
Originally Posted by mathjak107 View Post
i like new hope .. holy cow home prices shot up in new hope . for a while it looked like new hope was going to be the new hamptons as the play ground of the wealthy
Yes housing is pricey (not to NY standards though) in New Hope. It's a ten minute ride for us and I enjoy a bit of shopping in both New Hope & Lambertville. It's a very picturesque area!
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Old 07-28-2019, 07:39 AM
 
72,689 posts, read 72,534,115 times
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Quote:
Originally Posted by Signs9 View Post
Yes housing is pricey (not to NY standards though) in New Hope. It's a ten minute ride for us and I enjoy a bit of shopping in both New Hope & Lambertville. It's a very picturesque area!
we stopped going during the summer months , far to crowded with waits all over town for restaurants and parking .
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Old 07-28-2019, 07:49 AM
 
14,330 posts, read 24,134,357 times
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Quote:
Originally Posted by johngolf View Post
Though this question has been asked many different ways, I am going to try and limit the responses to those over 62 and fully (or nearly) retired.

The questions are for those doing it.

How much in Total Assets do you think the average person needs to have to retire reasonable comfortable?

How much Monthly Income do you think the average person needs to have to retire reasonable comfortable?

How much do you need to live the lifestyle you want to live? Only when you can answer THAT question can you answer the two that you have asked.

=======================

People get to live where they want. Over the years, I chose to work in Detroit over New York and DC and Cleveland over Los Angeles so that I could afford to buy a home and retire earlier. I am sure that I did not get as many cultural opportunities or other benefits of living in those large cities but I had a blast nonetheless. However, I retired seven to eight years earlier than most of my friends.

Last night, I had a nightmare that I missed a deadline for a project at work. I woke up shaking and realized that I was retired ... and had a good laugh.
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Old 07-28-2019, 07:58 AM
Status: "Loving our retirement" (set 19 days ago)
 
Location: Asheville NC
1,642 posts, read 1,334,412 times
Reputation: 4440
Woah! It is getting way too personal. Maybe the question would have been better phrased “how much does it take for the average person to retire in your area?”

We didn’t want an average retirement either and way exceeded our expectations for retirement. That said, the average person, if they owned their home here free and clear, could have a nice retirement on 4K a month. But real estate is extremely high now. Taxes are not bad if you live in the county and everything else is much cheaper than the DC area.

We are enjoying multiples of 4K a month-so we could have retired in place-but chose not to, because we love the mountains. We also didn’t retire near our son, because he moves relatively often for his career. We see him and family often because we are able to travel. They love to come here and do, but have less time off, so we travel to them more often.

I’m sure many people make do and retire in NYC on way less than 4K a month, because it is where they have always worked and lived and all of their family and friends live there. Circumstance, expectations and choice of lifestyle differs, so these insulting insinuations are uncalled for.

Last edited by funisart; 07-28-2019 at 08:40 AM..
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Old 07-28-2019, 08:01 AM
 
171 posts, read 93,022 times
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Quote:
Originally Posted by mathjak107 View Post
we stopped going during the summer months , far to crowded with waits all over town for restaurants and parking .
I agree! It can take half an hour or longer just to drive through town which is really only a few blocks during nice weather & weekends. I avoid weekends and only go on weekdays.
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Old 07-28-2019, 08:27 AM
 
665 posts, read 350,430 times
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Where we live one needs a net egg + SS that can provide $10k pm in preferably after tax income but pre-tax would be ok too. Owning one's own home (No debt) is also included in this estimate. This number is in order to live the lifestyle that one would really like in their retirement, not having to skimp and scrape. Yes you can live on $5k pm but we certainly would not want to.
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Old 07-28-2019, 08:48 AM
 
Location: Knoxville, TN
1,384 posts, read 634,214 times
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Quote:
Originally Posted by shokwaverider View Post
Where we live one needs a net egg + SS that can provide $10k pm in preferably after tax income but pre-tax would be ok too. Owning one's own home (No debt) is also included in this estimate. This number is in order to live the lifestyle that one would really like in their retirement, not having to skimp and scrape. Yes you can live on $5k pm but we certainly would not want to.
"...the lifestyle that one would really like in their retirement" is completely subjective and the money needed to fund it wildly variable.
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