TBD on Ning

Most of the people on tbd Ning are old enough that they are at least thinking about retirement.
There are many things that must be considered before and after retirement. So many, in fact, that writing articles and books giving advice about retirement has become a lucrative field of employment. Just look in any Barns and Noble or other major book store. Even the supermarkets are selling magizines and books devoted to the subject. I'm not qualified, nor do I want to give you advice on how to retire. What I propose to do is; give you a chance to start thinking about where you would want to live in retirement.
So, I will examine some of the things that I am considering. Then, I would like to read your ideas and questions. I'll start.

Tags: adventure, climate, expenses, family, low, retirement, stress, travel

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1. Do you want to stay where you are, or move, or travel?

2. Will I still want to do some work for income in retirement?

3. Will I want to live in a house, condo, apartment, RV, sailboat, Houseboat, tent? Or some combination of those?

4. What type of climate do I enjoy and what am I willing to endure?

5. If Married, how does the spouse feel about my plans and ideas?

6. How can I figure out how much money I'll need?

7. How do I cut living expenses without feeling deprived?

8. What about Health Care?

9. What are the procedures for things like paying bills, Taxes, vehicle registrations/inspections, etc.

10. Do I really want to do this?
1. Do you want to stay put, or move, or travel?

I decided to travel. And while traveling look for the place where I want to settle when I'm through traveling.

2. will I still want to do some work?

I decided that I would not at this time. But, I also found that there are magazines such as "Workcamper" that provide a source for finding part time and seasonal jobs.

3. where will I live?

I currently live and travel in an RV while I look for "The Perfet Picnic Spot".

4. What type climate do I enjoy. And what am I willing to endure?

I move my RV with the seasons. But I have about decided that I want to find two areas. One for Summer, and One for winter. Then I can stay in the RV or rent at two locations. I do not want to own any more property.
Owning property in retirement can be a real hassel.
5. If married; how does the spouse feel about your plans.

I'm divorced. One of the reasons I'm divorced is we did not agree on what we wanted to do in retirement.

Problem solved. Does contribute to othe problems though.

6. How can I figure out how much money I will need in retirement.

The short answer is; You Can't. Your plans will change after retirement. Just figure out a worse case and maintain enough assets or income to satisfy this worst case scenario.

7. How do I cut living expenses without feeling deprived?

This is a toughie because everyone is different. Just try to achieve a mindset that says,"I'm retired, the only things I have to have are; food, water, clothing, and shelter. I don't have to dress better than others, I don't have to have a new shiny SUV. I don't have to have a big house. I don't(fill in blank)

8. What about Health Care?

Once again, no easy answers. Each person has unique circumstances. However, most of us are eligible for Medicare when we turn 65. there are many other programs out there. VA, HMO's, Witch Doctors, etc. etc.

9. What are the procedures for things like paying bills, Taxes, Vehicle registration/Inspections, etc.
There are mailing services in states like Florida and Texas that you can join. You can change your residence by using them. Fl and TX have no Income tax or personal property tax. Personally, I feel that the less you own in retirement, the better off you are. This is a major area for discussion though.

10. do I really want to do this?

I did. And I Do. But it is not for everyone. My best advice is learn as much as you can before jumping into it, But, be aware that like everything in the good old US business environment, the people wanting to provide you with answers usually have an agenda. Present company excepted of course. (:>)

Well, I hope this will get some of you to thinking about aspects that you had not thought of.

If there is a demand, i am willing to start a group to address the subject.

retirement, yes, I have heard the word. I was at my class renunion last year, and I was the only one left working full time. But, I am like my Mother in that way. She was a nurse and liked her work also. As long as my health is good and I enjoy the time I spend at work, I will be here. I must add, when my Mother finally did retire at 78, she had such a bout with depression, she spent 6 months in the hospital.
One day, I may meet someone that will change my thinking about all this, but I doubt it very much.
Blondie, That is one reason for posting this. Retirement is not for everyone. My attitude is, At our age, do what you enjoy. I have very close friends my age, who are still working full time in Defense Contracting. They love it. I on the other hand was pretty good at it, and very successful, but did not enjoy it. I do not enjoy being responsible for the livelihood of others, but evidently was pretty good at it. I was never laid off when a contract was lost. I was always given another contract to manage, or a proposal to write. My dislike of anyone having authority over me always trumps my dislike of being responsible for others and I end up in charge. I have always envied people who had jobs that they really liked. I have had some, but being in the military and working on contracts afterward meant that any job I had never lasted more than 3 to 5 years. So, I like being retired.
This looks like a good place to retire.

Isn't that 1Greatlady's house?
Can I rent a room in your tent?
You can live cheaper in the south and mostly stay warm.
You have to get a supplemental plan to go with Medicare or it will pay very little. My friends in Washington just cut Medicare and now I have a $12.00 co-pay. If I go to the hospital it costs me $150.00 per day. $50.00 for a visit to the emergency room. My insurance costs $200.00 per month. My wife pays $500.00 per month with a $20.00 co-pay. They pay for most of my generic drugs. Medicare has no drug plan as you have to pay for everything that you take.
You will have to consider inflation. The power company doubled our power bill because of global warming, etc.
Somewhere I said it takes ninety grand a year to retire, it seems like that sometimes. You make more money when you retire because you don’t pay near the taxes. I went to work after I retired and between the state and feds they took over 50%. I wouldn’t plan on going back to work.
Another drawback that could hurt, when you turn seventy you HAVE to start spending your stock, bonds, savings and other investments. Then they tax the income. A little double dipping going on here?
If you stay busy you won’t have any problems. If you climb in your favorite rocking-chair and sit, you might last a month.
Darrol, I agree that the manditory withdrawal from my IRA is a major pain. But I have to admit that I knew I or my heirs would have to pay tax on the money when we withdrew it. that is why we got to put it in the plan without paying tax on it at that time. What I had not figured out,but I should have, was that when you draw it out it goes on top of any other income you have. So in efect you are paying a higher rate than you probably would have at the time you earned it. In hindsight, I should have converted to a Roth before I retired. The only savings and bonds that you have a manditory withdrawal for are any that were part of a tax deferred plan that you have.
I am retired and I stayed where I have lived most of my life. Maining for family reasons but also financial. I have a paid for house and cars and could not see taking on debt to move somewhere else.




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