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I haven't read the many, many posts in this but I would LOVE to have that kind of income and think I am poor. I'm retired on disability and my mortgage is more than half my income. It is what it is - you learn to really budget, conserve, etc. and get used to the idea that you can't go out to eat, etc.
Also, VT has a very generous property tax rebate for homeowners on the house and 2 acres. Renters' rebate for those who rent, like me. I got back this year more than 1 month's rent. (still can't figure out how, but I filled in the forms truthfully).
Well I guess $60K a year would make you poor in Boston or California.
But it would make you rich elsewhere so why not look elsewhere ?
I think the OP should be more concerned about what happens should her husband predecease her. With no assets, it's going to leave her in an extremely dire situation, as her husband's SS income will provide the bulk of their retirement income.
I think the OP should be more concerned about what happens should her husband predecease her. With no assets, it's going to leave her in an extremely dire situation, as her husband's SS income will provide the bulk of their retirement income.
Yes, but she can have the higher amount of his or hers. So she will lose the amount which is hers, should he pre-decease her.
I think the OP should be more concerned about what happens should her husband predecease her. With no assets, it's going to leave her in an extremely dire situation, as her husband's SS income will provide the bulk of their retirement income.
This is so true and will be the first thing we discuss with a financial planner. Dh has generous life insurance now through his work, but that will indeed change.
This is so true and will be the first thing we discuss with a financial planner. Dh has generous life insurance now through his work, but that will indeed change.
I cannot comment, nor should I, on too many specifics from here.
However, some things are universal. I suppose you need to go through your budget item by item and see how to adapt.
I notice that when I go to retired people activities where we go to lunch afterwards, some people just get a coffee for $3.50 whereas others always get more of a meal for $20. No one cares or says anything but obviously some have to watch their expenses much more than others. Similarly some close friends always prefer to go to dinner on the two-for-one special night at the club. If we want an upmarket $200 meal we know which friends to approach to join us.
Just now I was at the local mall with my grandsons who are on school holidays. I was really tempted to stop for a coffee and a snack for them . Actually thought how it would end up costing at least $20 and decided to drive home for lunch. Because coffee with 5 and 7 year old boys is not too relaxing!!
Often we save money on things like renewing insurance policies by simply getting around to doing something about it and getting some comparisons. Friends who have a fairly tight budget will always do their food shopping at ALDI and just get a few things at the more expensive places.
Obviously your housing expenses are the big problem so I suppose it is a case of doing plenty of research and working out exactly are the essentials for you. But do not fall into the trap of our friends who relocated three hours away to live somewhere nicer but now regret everything they have left behind. She was able to work as much as she wanted to in the city and was shocked to discover it was almost impossible to find anything equivalent there.
I cannot comment, nor should I, on too many specifics from here.
However, some things are universal. I suppose you need to go through your budget item by item and see how to adapt.
I notice that when I go to retired people activities where we go to lunch afterwards, some people just get a coffee for $3.50 whereas others always get more of a meal for $20. No one cares or says anything but obviously some have to watch their expenses much more than others. Similarly some close friends always prefer to go to dinner on the two-for-one special night at the club. If we want an upmarket $200 meal we know which friends to approach to join us.
Just now I was at the local mall with my grandsons who are on school holidays. I was really tempted to stop for a coffee and a snack for them . Actually thought how it would end up costing at least $20 and decided to drive home for lunch. Because coffee with 5 and 7 year old boys is not too relaxing!!
Often we save money on things like renewing insurance policies by simply getting around to doing something about it and getting some comparisons. Friends who have a fairly tight budget will always do their food shopping at ALDI and just get a few things at the more expensive places.
Obviously your housing expenses are the big problem so I suppose it is a case of doing plenty of research and working out exactly are the essentials for you. But do not fall into the trap of our friends who relocated three hours away to live somewhere nicer but now regret everything they have left behind. She was able to work as much as she wanted to in the city and was shocked to discover it was almost impossible to find anything equivalent there.
Good points.
I go out to eat with people that will only order water with lemon. I've thought about doing this also - cuz 2.50 is 2.50!
Today we were asked to provide some items for a volunteer organization that we help out with. I spent almost 40 dollars - others maybe 4.
But then i don't spend as much as they do on clothes and gifts - i guess it all evens out?
I’ve always order water with lemon, it’s not budget concern, it’s what we drink.
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