Retiring on a literal shoestring: support group (federal, states, retired)

[TuborgP]

This is a great retirement planning thread for everyone regardless of anticipated retirement income. The wife and I are fortunate and in great shape but the thoughts in this thread are geared for everyone while so much that is professionally published isn't. Great thread and it should be read by all, well almost all.

[newenglandgirl]

Anyone reading any good books regarding the older (retiring) population in the American way of life?

[Houston3]

Originally Posted by newenglandgirl

Bluecrab,

Are you 60 or over? On top of your teachers pension, will you get SS?

Wondering if you will be staying where you are now living once you retire? Is it expensive to live where you are now? (house buying, prop taxes, etc). What's it like there for seniors?

There's a lot of talk on other threads about moving to cheaper areas in retirement. I am so torn about this, being a New Englander at heart who cannot afford to live my elderly years here (mostly b/c of property taxes). I've even considered giving up my car. But I don't want to move to a place for lower prop taxes and be stuck out in the country and have to depend on a car to get everywhere.

Some states apparently freeze (or ease) prop taxes at 65. Here, I face an $800+ increase in the next year. What will it be when I'm 65 or 70??

Anyone else have info on the prop tax issue?

We can either defer our taxes at 65 or get a reduction on them and freeze them at 65..If you defer them they become due in full plus 8% per year interest if you sell or if you pass away, who ever you leave your property to will have to pay all of the back taxes....or it will be sold at a tax auction...(if you have a living spouse they can keep the property until they pass without paying the back taxes) I took the reduction because it never has to be repaid.. My total yearly taxes went from about $2.000.00 a year to about $800.00 a year.

[newenglandgirl]

Originally Posted by Houston3

We can either defer our taxes at 65 or get a reduction on them and freeze them at 65..If you defer them they become due in full plus 8% per year interest if you sell or if you pass away, who ever you leave your property to will have to pay all of the back taxes....or it will be sold at a tax auction...(if you have a living spouse they can keep the property until they pass without paying the back taxes) I took the reduction because it never has to be repaid.. My total yearly taxes went from about $2.000.00 a year to about $800.00 a year.

Way to go, Houston. Do you know which states currently offer the reduction?
Is it the same percentage of reduction in all or most states?

Thanks~~~
NewEnglGirl

[Guntersville Boomer]

My husband is already retired and I retire the end of the year. I always wanted to travel some and see the national parks, so we recently got a great deal on a used C Class RV, had looked at renting one for 6 weeks, $7,000, way too much $ to throw away on rental, especially being on fixed income. So I have been doing a lot of research and I didn't realize how many people are full-time RVers (don't own a home) and live on very little money, pick up odd jobs, there are web sites on this life style and it is really interesting and suprisingly affordable.

[StealthRabbit]

Originally Posted by Guntersville Boomer

...I always wanted to travel some and see the national parks, so we recently got a great deal on a used C Class RV,... there are web sites on this life style and it is really interesting and suprisingly affordable.

here is a good 'full-timers' site
Escapees.com

I have met many retirees who are volunteering with NPS, and getting free RV sites. You can also work for a concessionaire such as Xanterra and live in the parks. (I just hope I live long enough to get a Golden age Passport, having bought annual Golden Eagle Passes for over 30 yrs).

Used Class C's are a bargain, and numerous retirees I met are quite happy to be rid of their house.

Another option is staffing a remote 'trail' cabin for the NFS or being a 'camphost'. I wish the gov would avail more options to use senior's to staff, rather than the continual threat of closing campgrounds and parks.

[ConceivedinKY51]

I've posted before but I think it bears repeating...COMMUNAL LIVING!!! That's a solution to the high cost of living. Mind you, I do believe it's very important to find people you want to share a home with, but I also believe if done right, it could be an extremely effective and happy solution to the problem!!

[StealthRabbit]

Originally Posted by newenglandgirl

Anyone reading any good books regarding the older (retiring) population in the American way of life?

Not sure this qualifies as "good",

but just finished The Great Depression Ahead by Harry Dent (demographer who uses generational / cyclical trends)

I has some good hints on defensive strategy for weathering the "Great Winter".

Not gospel, but worth some thought. As with all crystal balls, Harry has had to come back and modify some bogus predictions, but he does have some solid points.

I wish I could talk to my grandparents again... they were very solid in their decision making and lived a long life w/o running out of $$, and had many setbacks enroute (dust bowl farmers).

Maybe I'll pick up some history books.

[StealthRabbit]

Originally Posted by ConceivedinKY51

I've posted before but I think it bears repeating...COMMUNAL LIVING!!! That's a solution to the high cost of living. .

just in time for the cohousing conference
2009 National Cohousing Conference; Growing Community | The Cohousing Association of the United States

I will be picking up some ideas there (as part of internship) and also looking into co-ops and fractional ownership.

The cohousing I've visited in PNW is a bit too radical for me (You need to sign onto Al Gore's manifesto, and similar social pressures) I do think there is a 'right' solution, in the 'right' community, But statistically these have not been too successful, there is usually a high strung 'dictator type' who ends up chasing everyone away.

[JoanD'Arc]

Originally Posted by newenglandgirl

Where is it written that property tax goes away in NH at age 65???

What I know of prop tax in NH is enough to keep me awake nights, if I were a homeowner there!

~~NewEnglGirl

It's possible I misread it, but here's the website:
Retirement Living - Taxes by State: Kansas - New Mexico