Can You Afford to Retire, Expecially Today (apartment, health insurance)

[gonzolafacce]

Its been a couple years since I have been back home to NoVa. I am about a year away from Soc Sec. Even though I have a home and no payments back there and would have only daily/monthly living expenses, I wonder if I can retire on the amount Soc.Sec will pay, or will I have to supplement it.

I have lived and worked overseas for about 20 years, and have become comfortable with the life style and cost of living over here. [peanuts cinoared to back home costs] Having a home in Fla also means I can split the months to winters in Fla and the rest of the year in Va.

I remember some years back my mother trying to make her life, on her own, just on her SS pkg and I think that she couldn't if she didn't get some help from us.

I'm looking for advice from some that are closer to current time values over there, to compare with over here , so I can make a decision whether to retire over there or here. I think all things being what they are, it may be financially better to retire here, free medical, etc. and it would be very easy to get by on a thousand dollare per month. I think that with the lower cost of living, I would still be able to save enough for a trip back every year or at least 2 years.

If you didn't have house payments, can you get by on a thousand dollars per month back in NnoVa. Thats my question, I hope I didn't bore you and would appreciate your input

[VRE332]

yea you could get by, but it's going to be tough.

[MacUser85]

I think it would be very, very tough to get by on that. That might carry your living expenses, but what happens when an emergency occurs, etc?

[VRE332]

also let's consider you purchase a house, and the taxes are around $4k per year. That would hit your budget hard. Not only that, the natural gas prices are not cheap so ask yourself how you're going to stay warm in the winter?

[gonzolafacce]

Over here
I have 100% free medical. Includes monthly check up , and all necesary meds. i.e. for diabetes, hypertension +. Years ago I was paying about $100. p/mon just for the hypertension meds. back in the West.

Housing Very nice accommodatiosn for about $200. per mo
Food cost including eating out couple times per week $300.
including the required beer that diabetics must have [joke doc}

Transportation less than $30. mo

Golf 1 time per week $50. per month approx.

and the list goes on.....

I would like to tell everyone who is finding it impossible to make ends meet back there, to come over here, but I know that it takes an exceptional individual to live that far away from the family, expecially grandchildrn.. but today with the internet and web cams well you get the picture....

I really am leaning towards staying over here and just coming back occasionally for a visit.

Thanks for the input.

[FindingZen]

Towards Southwest Virginia, you might have a chance on $2000 per month. It would be practically impossible in Northern Virginia IMO unless you have a roommate/significant other. If your apartment is your castle, you might get by alright on $3000 per month in a decent, unglamorous part of the area.

[Bideshi]

Originally Posted by Tone509

Towards Southwest Virginia, you might have a chance on $2000 per month. It would be practically impossible in Northern Virginia IMO unless you have a roommate/significant other. If your apartment is your castle, you might get by alright on $3000 per month in a decent, unglamorous part of the area.

OK, but what about health insurance?

I am 64 and don't see any chance of retirement. I will die in the harness or get carried off of the job on a stretcher someday. What happens then depends on God's will and the state of society at that time.

[car54]

A grand a month? NO WAY!

I put more than that in my boat's fuel tanks every month!

[FindingZen]

Originally Posted by Bideshi

OK, but what about health insurance?

I am 64 and don't see any chance of retirement. I will die in the harness or get carried off of the job on a stretcher someday. What happens then depends on God's will and the state of society at that time.

People in the DC metro, including Northern Virginia, can take advantage of individual insurance plans offered by companies such as Kaiser Permanente. Otherwise if one is near traditional retirement age, I'd assume that Medicare/Medicaid would help with that... but that's more of a subject for the Retirement forum.

[ShannonMilligan]

where is "ever here?" Where are you living now