Retiring on a literal shoestring: support group (Fort Lauderdale, pension, long-term)

[frazl]

I guess the boomers will be stretching the resources once again as we go through life. It was great during the years when we were contributing to the economy, but not so much now when we retire in mass.

I still think that my idea of looking at states who have managed their monies better than others, and have a diversified economy where they can make a better rebound is a good plan. It's easy to find on searches those states most in debt. I'm also looking for many of the things you have mentioned, good senior services like transportation if public transportation is not available, walkability, access to the services and stores needed, good medical care, in-home health care and hospice. That's what I mean by a community that takes care of its people.

Thank you for explaining the matching funds requirement. I wasn't aware of that and missed the discussion. I still think there is an easy fix by adding a penny to gas tax or sales tax in the state, etc. I find it hard to accept that those in need go without when those who have more than they need are not asked to make equal sacrifices. I'm thinking of my 78-year-old sister living in Tucson who is diabetic, on Medicaid and has hospice coming into her home. I don't know if she will continue to get the help that she needs. Her grown children have been laid off and are in no position to help. But that is not the point of this thread so I will not pursue it further.

Livecontent, you make me smile.

[zthatzmanz28]

Wife and I are seriously considering "retiring" ASAP. Dispite no pension, no SS (until we are 62?) and just $20K in savings. We lost most everything in the economic crash in the last few years and will become mobile when we officially retire and go on the road. Hopefully picking up work periodically to keep us afloat.. Even SS will not be enough (last summary had $2000 a month I think? Maybe less if we started drawing prior to age 68?

[newenglandgirl]

Originally Posted by zthatzmanz28

Wife and I are seriously considering "retiring" ASAP. Dispite no pension, no SS (until we are 62?) and just $20K in savings. We lost most everything in the economic crash in the last few years and will become mobile when we officially retire and go on the road. Hopefully picking up work periodically to keep us afloat.. Even SS will not be enough (last summary had $2000 a month I think? Maybe less if we started drawing prior to age 68?

Your SS will be more than many seniors receive.
$2000 a month plus small work here and there is adequate to live.
Start looking at your expenses now and begin to toss: cable, 2nd car, magazine and newspaper subscriptions, junk/snack foods, expensive hairdos, all the fluff....if you want quality of life now and in the future.

[zthatzmanz28]

Originally Posted by newenglandgirl

Your SS will be more than many seniors receive.
$2000 a month plus small work here and there is adequate to live.
Start looking at your expenses now and begin to toss: cable, 2nd car, magazine and newspaper subscriptions, junk/snack foods, expensive hairdos, all the fluff....if you want quality of life now and in the future.

We did a lot of dumping in 2009 and in the process of dumping MORE. With the wife working 35 miles in the opposite direction a second car is needed. Though we did just unload the third vehicle...YEAH!!
Working on the internet as we consider options and we are switching to the internet instead of cable.

[Submariner]

Originally Posted by zthatzmanz28

..... Even SS will not be enough (last summary had $2000 a month I think? Maybe less if we started drawing prior to age 68?

I am on pension.

My pension is less than what your looking at getting.

[nan5623]

I love this thread.

[newenglandgirl]

Originally Posted by nan5623

I love this thread.

Thank you, I'm glad I started it [takes a bow ]

I thought the thread was dead, but glad to see renewed activity. I wonder how many of us are in the "shoestring" boat.

What continues to concern me is rapidly rising property taxes even above gas and food. We can turn the thermostat down and bundle up, we can eat less junk food, and we can take fewer trips in the car. But the states and cities and towns are out of money, so guess we will have property taxes above and beyond the normal increases. This will be passed on to renters, too, so no one escapes this dreaded specter.

Suggestions are always welcome on this thread (it is not a debate thread, as in "no one's in trouble and if they are it's their own fault" type of stuff).

[livecontent]

Originally Posted by newenglandgirl

Thank you, I'm glad I started it [takes a bow ]

I thought the thread was dead, but glad to see renewed activity. I wonder how many of us are in the "shoestring" boat.

What continues to concern me is rapidly rising property taxes even above gas and food. We can turn the thermostat down and bundle up, we can eat less junk food, and we can take fewer trips in the car. But the states and cities and towns are out of money, so guess we will have property taxes above and beyond the normal increases. This will be passed on to renters, too, so no one escapes this dreaded specter.

Suggestions are always welcome on this thread (it is not a debate thread, as in "no one's in trouble and if they are it's their own fault" type of stuff).

I never had problems with property tax, here in Colorado. I just paid my tax, in full (I have no mortgage), because I do not like to bother with the installments and I have the money. Yes, it goes up and sometimes it goes down. It can be controlled to some extent because it is based on the value of your home. So, the answer is, that after retirement, you could downsize to a smaller less expensive home. Some people will not live in a smaller home because they want more. Many of us have gotten use to bigger homes than the previous generation and think that we need all that space but you can live in less.

I realize that some people have problems because the property taxes, in some areas, have risen around their little home. This is part of the problem in areas of the "progressive" liberal states who paid their public employees too much and promised too high of a pension. It is also a problem with areas that have aging infrastructures that needs repair. That is one of the reasons for movement to newer towns and cities.

Smaller home--less tax, less cost to heat and cool, less maintenance and less junk to buy to fill it with furniture, windows coverings etc. Just like anything the less you buy, the less tax you pay and the less you have to maintain.

In my county, once one reaches 65 and have been in the house for 10 continuous years, then there is a big tax reduction. I am getting close to that but I know it can disappear at any time--but I just accept the problem. There are ways, in my county, to defer paying the property tax and making it a lien on the house, when you or your estate sells. Of course, it accumulates interest. That may be a good way for some people who need that extra money to survive.

I am not one those seniors who consistently vote down school bonds and civil projects to avoid taxes; my vote is based on the need and my increase in tax to pay for the projects has nothing to do with my vote. I think it is very important for the older generation to support the next generation; just as the generation before me helped me when I was young.

Livecontent

[newenglandgirl]

Livecontent,
You make excellent points and you have summed up the problem well. Nonetheless, there are many seniors who are not going to be able to sustain the constant rise in property taxes. If the states continue to be strapped, they will probably rescind the help for seniors. I don't see a good outcome for so many who are not well to do, unfortunately.

[livecontent]

Originally Posted by newenglandgirl

Livecontent,
You make excellent points and you have summed up the problem well. Nonetheless, there are many seniors who are not going to be able to sustain the constant rise in property taxes. If the states continue to be strapped, they will probably rescind the help for seniors. I don't see a good outcome for so many who are not well to do, unfortunately.

Today many of the lower class, middle class and the poor, through the media, see what the rich have, and they want it---NOW. They confuse the concept of equality. They think equality means that they must have the right to same material goods of the richer folks. That is wrong--one must realize that life is not fair and it is not equal.

The problem is that there are many seniors have not trained to be frugal and now are not fit to face the challenges of less. The excessive hedonistic habits, you form when you are young, are not going to serve you well in your later years if you do not have money.

I am of the "not well to do" by most all measures. However, I do not strive to have what others have; I do not have jealousy; I do not covet my neighbors goods; I do not covet his dog and I certainly do not covet his wife. With my philosophy of life and acceptance of my poor deteriorating health situation, I am able to live on much less and be happy with minimum wants and needs.

I keep trying to tell seniors who I meet, that have financial problems--if you cannot afford it, do not buy it. Many will not listen.

Livecontent