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C.Ann
08-23-2005, 06:59 PM
What do you envision your retirement lifestyle to be?

Read an interesting book ("Rags to Retirement") about folks who have retired, what their choices have been, what it's cost them, etc., and it got me to wondering what lifestyles other people might choose..

As an example, I have a friend whose 40-something son was able to retire early and he has spent the past few years backpacking all over the country..

Will you keep your current home?
Downsize, but live in the same town?
Move to another country?
Head to Florida and play golf 24/7?
Sell your home, buy an RV and hit the road on a permanent basis?
Live on a boat?
Travel from state to state, renting an apt. for 6 mos. at a time?

Or have you even given it any thought at all? :flower:

RADOPT
08-23-2005, 07:12 PM
C.ANN - mind if I add anyother question? I was going to start any other thread but this ties in. How much are you planning on for retirement?

I have two handicapped daughters who need financial help and can't envision retiring let alone how much I would need if I ever get to retire. I will probable die in the house I am in now.

ducklite
08-23-2005, 07:12 PM
I plan on living in the same home for 5-10 years after I retire, then moving to the active adult community right across the street. We'll do some traveling, volunteer work, I'll attend the variety of activities in our community like the ladies luncheon and flower arranging classes. I don't expect our lives to change much except we'll have free time to do all those things we'd love to have the time to do now.

Anne

mudnuri
08-23-2005, 07:18 PM
I've given it plenty of thought to it and its actually changed since I am not longer with the primary breadwinner/retirement saver/stock holder :rotfl:

I had my girls early, so basically when the youngest graduates high school I'll be 39. I had plans of venturing to Italy, spending months on the islands in the carribean... yeah yeah yeah.

Now, I see myself working until I'm probably 55, given the fact that I am going back to school for my RN, I will be able to help the girls with their college expense and then work for a few more years for retirement.

I know this sounds "odd" but I no longer have the desire to travel the world. I will more than likely spend more time locally with family that is still here, and maybe travel the US like my grandparents did when they retire.

Of course, there is the possibility that i will develop the same disease my mother and my aunt have, and will not be able to retire at all. They both are now on disability at the ages of 57 and 52. I need to take that into consideration as well, as there are many things they both wanted to do in life that they are no longer physically able to do. I will travel to the grand canyon and actually go down it on a mule. Neither of them are able to do this now because of balance issues..

I dunno C.Ann but you seemed to have sparked something in me I might have to actually journal tonight...shesh thanks! :rotfl:

Brandy

C.Ann
08-23-2005, 07:22 PM
C.ANN - mind if I add anyother question? I was going to start any other thread but this ties in. How much are you planning on for retirement?

I have two handicapped daughters who need financial help and can't envision retiring let alone how much I would need if I ever get to retire. I will probable die in the house I am in now.
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Your circumstances are very unique, so it would be hard for you to make a comparison to what others are doing.. Do your DD's need on-going medical care? Is there (and will there) be insurance to cover those needs? Are you a single parent? Will your mortgage be paid off? I think your best bet would be to consult a professional - and do it now, while you still have time to prepare..

Best of luck to you and your DD's.. (Oh - and "dying in the house you're in now" doesn't have to be thought of as a "bad" thing.. Lots of folks actually make that choice to say put.. No harm in that! :flower: )

EthansMom
08-23-2005, 07:49 PM
DH and I are in our mid-30s so things could change a bit before we retire, but our current plans are to be semi-retired (reduced work hours, mostly working for health benefits) sometime in our mid-50s, which would coincide with our youngest child graduating from college (Bachelor's Degree) and probably be fully retired at a later point (early 60s maybe).

We would most likely sell our house and move to an area that is less expensive, if we haven't already. DH and I have talked about possibly living in or near a college town for a few years and taking all of the classes we've always been interested in just for the sake of knowledge. We're also likely to travel more, but not excessively. Basically, we see ourselves having an active retirement.

lillygator
08-23-2005, 08:18 PM
Hi C Ann!

Well, we already live in Florida...so we will keep our house. I highly doubt we will move in the next 30 years as we are now starting renovations to make it our own. That said, I think we will buy somethign a little further south..as in one of the islands. We are both beach people and can't really imagine doing anything else. My dear husband has envisions of buying a motor home and traveling to all the ball fields in America...I have no problemgoing to all the ball fields...I do have a problem with the mode of travel!! So we'll see....
so we won't be downsizing....
we'll stay in this area...
we will travel more and more...

well I hope so anyway...DH is 10 years older than I and we have a ways to go before retirement. I am lucky as I have a pension through work as well as a 401k and Dh has a 401k...I hope once the girls are in school and daycare costs are cut we can start maxing it out each year.

I would like to get that book though, I have heard it is great!

Lisa loves Pooh
08-23-2005, 08:20 PM
No idea at all!

I would expect to maintain the same lifestyle without the kid expenses :).

ElizaB39
08-23-2005, 08:22 PM
This is an interesting thread. My parents went to a retirement counselor a few years before they were set to retire. This counselor had them create a current day budget and what they envisioned their budget to be once they did retire. Mom said it was a great excercise, and showed them a lot, but they were pretty in tune to what their expenses would be once they did retire. I remember my mom calling me and saying, "I have good news and bad news. The good news is I will live 'til I'm 93 (based on actuarial data) the bad news is that I run out of money when I'm 89!" We got a good laugh out of that because I guess Dad will already have bit the dust by then since he wasn't even mentioned. I did ask, "Uh, is that with our without the sale of your primary residence? chuckle chuckle" It was without (whew). I did very respectfully ask of she would give me and my 5 sibs a few months notice before she/they need our financial assistance. She laughed and said of course!

In reality, barring any catastrophe, they won't need our help and will likely have a bit left over for us. Nothing life changing, maybe a really great trip amount (< 20,000). They are in nature planners and are doing so many really great fun things in their retirement.

They did have some older friends give them some advice and it went something like this, "Do as much as you want to when you first retire because at some point, you won't want to do those things or you won't be able to do them." With that advice, my parents have been doing pretty much what they have wanted for the past 8-10 years.

They also were advised to have at least 12 activities they were interested in and that they would do routinely. The activities did not have to be daily, some could be monthly or even seasonally (bus driving, golf, gardening) But some are all year round (reading, Red Hats, cards, travelling, investment club, hospice, church volunteering, birthday group, book club, family). On the flip side I see my in laws who are both retired and my FIL has only one activity that he does, and that is golf. He is declining the fastest of the four (my parents and my in laws). He is convinced he is old and this is his life now. He only golfs twice a week. I honestly don't what else he does, he is not a reader. Neither of my in laws volunteer and I don't know if they ever have. Volunteering is a big part of my parents lives.

The bottom line is, "Use it or lose it (your mind that is :goodvibes )".

Whew this got long. It is supposed to be the best part of our lives, but you have to make it that way, it is not going to happen all on its own.

Off my soapbox now! :teeth:

C.Ann
08-23-2005, 08:28 PM
This is an interesting thread. My parents went to a retirement counselor a few years before they were set to retire. This counselor had them create a current day budget and what they envisioned their budget to be once they did retire. Mom said it was a great excercise, and showed them a lot, but they were pretty in tune to what their expenses would be once they did retire. I remember my mom calling me and saying, "I have good news and bad news. The good news is I will live 'til I'm 93 (based on actuarial data) the bad news is that I run out of money when I'm 89!" We got a good laugh out of that because I guess Dad will already have bit the dust by then since he wasn't even mentioned. I did ask, "Uh, is that with our without the sale of your primary residence? chuckle chuckle" It was without (whew). I did very respectfully ask of she would give me and my 5 sibs a few months notice before she/they need our financial assistance. She laughed and said of course!

In reality, barring any catastrophe, they won't need our help and will likely have a bit left over for us. Nothing life changing, maybe a really great trip amount (< 20,000). They are in nature planners and are doing so many really great fun things in their retirement.

They did have some older friends give them some advice and it went something like this, "Do as much as you want to when you first retire because at some point, you won't want to do those things or you won't be able to do them." With that advice, my parents have been doing pretty much what they have wanted for the past 8-10 years.

They also were advised to have at least 12 activities they were interested in and that they would do routinely. The activities did not have to be daily, some could be monthly or even seasonally (bus driving, golf, gardening) But some are all year round (reading, Red Hats, cards, travelling, investment club, hospice, church volunteering, birthday group, book club, family). On the flip side I see my in laws who are both retired and my FIL has only one activity that he does, and that is golf. He is declining the fastest of the four (my parents and my in laws). He is convinced he is old and this is his life now. He only golfs twice a week. I honestly don't what else he does, he is not a reader. Neither of my in laws volunteer and I don't know if they ever have. Volunteering is a big part of my parents lives.

The bottom line is, "Use it or lose it (your mind that is :goodvibes )".

Whew this got long. It is supposed to be the best part of our lives, but you have to make it that way, it is not going to happen all on its own.

Off my soapbox now! :teeth:
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Wow! That was SO interesting!! Thanks for sharing.. :) I don't think I've ever heard of a retirement "counselor" before (one that gets into activities and such) - just the financial planner types..

Can you elaborate any further? I don't care HOW long your post is! I think that's just fascinating.. :flower:

C.Ann
08-23-2005, 08:35 PM
No idea at all!.
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That's kind of how I feel right now.. Actually I'm doing sort of a "trial run" on retirement since my DH passed away in January, but I doubt I'm ready for the "real" thing yet.. The next year should give me a better idea.. Right now I don't even feel like my "skin" is a perfect fit, so I'm just kind of going with the flow, trying this and trying that.. I have some short term ideas, but nothing long term yet.. For now it's one day at a time.. If Plan A isn't working, then move on to Plan B.. :flower:

PrincessKitty
08-23-2005, 08:45 PM
It's hard to imagine ever having enough money to retire...!!! But anyway, I'm about to turn 49 and DH is less than 2 years older. We plan to retire at 63 and have a LOT of saving to do before then (we went back to school and got 2nd careers and tons of school debt when we were 40ish!).

Funny you would ask, DH and I were just talking about retirement tonight. We don't have any kids and I think I would like an "active adult" community once we retire, preferably near the beach. I think I would like having a lot of planned activities. I'm a "never have a bored moment in my life" kind of person--always busy, always active. DH is just the opposite, and I'm afraid he would just wither away in retirement if he didn't have planned activities.

We live in Florida, and we both love it and don't plan to leave, but we are inland and would definitely be living nearer the beach if not for our work....so that won't be a problem when we retire! IF we retire...Social Security will still need to be around if we are ever going to retire!

Feralpeg
08-23-2005, 08:59 PM
Well, I guess it is too late for me to start thinking about it, because I already did it. I retired at age 52. I moved from Kansas City to Orlando with my teenage daughter and my sister. My sister (age 55) bought a house at the opposite end of the block from me.

We had both worked for the same IT company for over 30 years. My sister is now a CM working at DTD. I make gift baskets when I'm not taking DD from place to place.

ElizaB39
08-23-2005, 09:36 PM
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Wow! That was SO interesting!! Thanks for sharing.. :) I don't think I've ever heard of a retirement "counselor" before (one that gets into activities and such) - just the financial planner types..

Can you elaborate any further? I don't care HOW long your post is! I think that's just fascinating.. :flower:

I am not sure what you want me to elaborate on? I'll just go on typing!

The counselor made sure they increased their budget for travel, entertainment and gifts. I couldn't tell you what they DECREASED their budget for since they already owned their home. ha ha They have long term care insurance and dad is a vet so he goes to the local VA Hospital for his meds that are so very reasonable cost wise. They have supplemental health insurance that they pay for themselves. They travel to see us East Coasters at least once if not twice a year depending on whether or not we travel to MN.

Mom cooks two nights a week, dad cooks two nights and they go out two-three nights/leftovers. This is a BIG deal since she cooked for 8 people every night that I can remember, well less than 8 when we started going to college. Mom volunteers at Hospice, she is a retired nurse. She is in Red Hats, investment club, birthday group, bible study, church volunteer in the following - lecter, communion, sacristant, counting money, turkey dinners, any major Christian holiday finds her there. Maybe she is also in a book club? Not sure, it is hard to keep track of her. She also has a travelling buddy and they go on a big trip every other year, last year to Eastern European churches. Next year she is going on a 3 week trip with my 3 sisters (I can't go for 3 weeks I have two young kids!). She plans on taking a transcontinental trip every other year for the rest of her life. After Europe is an African Safari. Once when my dad complained that their schedule was so busy, she replied. "I was in this house for 20 years, I am going to do what I damn well please!" Never did that comment pass his lips again. :cool1:
She also does a Community Theater series of tickets each year, and a local College's annual Christmas program.

They go to Alabama for 4 weeks every spring, and take two weeks in addition to that for the drive and to visit me and my sister as we are "out East" and they are in MN with my 4 other sibs (6 total).

They also have grandkids in MN that they enjoy and help babysit and watch sports etc. My mom's bro has a small cabin on a lake near the Twin Cities and they visit there a few times a year.

Dad golfs, fishes, fishes and fishes (summer and ice). He is a substitute bus driver for the local school. He does church volunteering as well, but not as much as mom. He also does birthday group as that is a couples thing. He does the yard work, but no shoveling he is not allowed per Dr.s orders. He enjoys birds and has many birdhouses and birdfeeders, and has an avid interest in the weather. I remember watching storms from the garage when I was a kid. According to dad, "the clouds are breaking up" almost always. He likes gadgets and so that is what we buy him, in addition to his wardrobe, for Christmas and birthdays. Most recently we bought him a GPS and an indoor outdoor digital remote thermometer that he gets a kick out of! Remember he likes weather. He collects lighthouses.

Dad goes on several extended fishing trips each year, and mom does all girl trips or senior bus trips to places like Door County, WI. They do many things together and separately too. My priest uncle said to me once, "the greatest gift your parents give each other is their independence." That is so true. Their separate activities are happily encouraged by the other.

They are both avid readers and always have a book going. Mom makes prayer quilts for her nondenominational prayer group. Dad putters in the garage... They have a wide age range of friends, through work and church. When I call they are pretty much never home. This makes me so happy. After being so frugal for so many years, working so hard, and both growing up as poor farm kids, they can do pretty much as they want. They live in a modest home and the cars they drive are old but functional. They never spent more than 25% of their net on housing and they live in rural MN so it is not real expensive where they live. I recently asked my mom how they ever afforded to feed us all and she said, "I have no idea." But, I know that she has every idea. She is a great planner, organizer and etc. She wore her polyester pantsuits for years! 5 out of 6 kids graduated from college and they helped all of us some.

Mom was the first of the working women. When she retired the local cable channel did a special on her related to working moms. After she first retired, she got her resume together and shopped around for a home health care job. She was going back and forth between two agencies for the best offer. She had it goin on. Way to go Mom! She was the first female on one school district's school board and the first woman on one church council, both many years ago. Because of her we all thought we could do anything we wanted to do! We all still believe her. :)

Can you tell I am so proud of my parents? They both have just made their lives so great. I don't worry too much about them. I hope when I retire I have a life like theirs.

Eliza

deltachi8
08-23-2005, 09:48 PM
I plan on working until I keel over.

I wouldnt know what to do with myself if I were retired! I get antsy on vacations - as much as I love them.

C.Ann
08-23-2005, 10:20 PM
I am not sure what you want me to elaborate on? I'll just go on typing! Eliza
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That is SO great! I really enjoyed reading about your parents.. They sound like wonderful, caring, active retirees.. :flower:

My sis just bought a place in a retirement community in Florida and I went down twice within the past 6 months.. Those people were SOOOO active - made the poor mailman look like a "shut-in" - LOL.. :teeth:

I love the idea of listing 12 things to do.. Will definitely keep that in mind - and thanks again for sharing! :flower:

ElizaB39
08-23-2005, 10:22 PM
You're welcome C. Ann. Hope it helps some.

lillygator
08-23-2005, 10:31 PM
I can't imagine what Florida will be like when DH and I retire......it seems as though everyone wants to retire here!

pearlieq
08-23-2005, 10:33 PM
I'm not sure I can see DH retiring, though he insists he wants to. I can see us in the same area, but I imagine we'd downsize and get into something maintenance-free. I can also see us snowbirding, either Vegas or FL.

I intend to gad about and play bridge and volunteer at the hospital and generally live a happy, simple life. Of course, we'd both love to travel on occasion as well.

We're thinking that we'll need somewhere between $3-4 million for retirement. Glad we're young and can start saving now!!!

DMRick
08-23-2005, 10:34 PM
I don't expect our lives to change much except we'll have free time to do all those things we'd love to have the time to do now.

Anne

We thought we would have more time once we retired, but the days just filled in with grands plays, babysitting, church activities during the day. We do do eBay, with our retirement, but we travel with the computer, so we can do that on the road. We spend more time with the grands. We have always traveled, now we do more of it, and more during the week, instead of on weekends. We like to stay busy, and have a couple of places we volunteer time. I love the area, would never leave, but hope to spend a month in the winter traveling with our RV in warmer climates. I just can't seem to be away from home and kids and grands longer than that without getting homesick.
We travel with an on line RVing group, about 30 rigs at a time (there are about 60 rigs total), and meet a couple or morre times a year to camp together, and more often with parts of the group. I have set up and done craft fairs at some of the campgrounds, and we meet lots of new people, and expand our group.
Unless you spend a lot of time at home, retirement does eat up some money:) We went for some preplanning through my hubbies work, before retiring. That helped a lot..and made you really see what you will need to stop work.
Our motto is to do it now, while we are healthy and able. Too many people we have met over the years, waited too long to enjoy life. We love being together, but either of us would prob continue camping if it ever became one of us, because of the great friends we have met (all ages) who would help us set up, etc.

C.Ann
08-23-2005, 11:01 PM
Our motto is to do it now, while we are healthy and able. Too many people we have met over the years, waited too long to enjoy life..
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My DH took an early retirement for just that reason - and was diagnosed with the cancer and a multitude of other serious illnesses the same week he retired..

My Dad got exactly 2 years - was diagnosed with cancer and gone in 4 months..

If anyone "can" do it now, they should.. The phrase "it's never too late" doesn't apply when it comes to retiring.. Sometimes it is too late.. :(

dvcgirl
08-23-2005, 11:33 PM
Well, I think we'll probably work part-time, or scale back somewhat in our 50s. We're 37 and 36 now. We take one long vacation a year now along with a few long weekend vacations a year. I think that when we retire we'll be more likely to visit the places we love for longer periods of time and live among the people of that area instead of touring at a harrowing pace. Instead of trying to see a city in a week, we'd like to rent a furnished apartment for a month or two...that sort of thing. That's our dream.

I don't know where we'll end up. We live in Florida now, but we've only been here for a year. We really like it so far and enjoy Orlando because there's so much to do. I can see us ending up somewhere near the beach eventually though. We recently had a conversation about downsizing and don't know that we'd want to go much smaller than a 4 bedroom 2 bath house...we have a 5/3 now. We both have home offices and so we need some extra space. We also like having a dedicated guest room/bath as well as a dedicated exercise room. I don't know that we'll do the Active Adult neighborhood....I guess we'll figure that out about 20 years from now.

As far as how much we'll need. Well, we'll need a fair amount. This is what I think most people don't realize. People making 100,000 grand at our age...which ain't all that much for a double income family, will need a minimum of 2 million to maintain 70% of their current income in retirement. We make more than that, but we are able to save over half of our income a year because we have no debt. And so our financial planner thinks that we can get away with 50-60% of our current income as retirees. We're saving for 80% so that we can retire early and travel extensively.

Although I believe that social security will probably be around in some form or another when we retire...we do not factor it into our retirement plan....

Julia M
08-24-2005, 12:25 AM
Well, dh and I would like to retire as early as possible!! He's almost 47 and I'm 43.

DH can retire at 62 with full benefits (at 55 he can also retire, but won't get full retirement) . So I don't know what exactly we'll do age wise.

We want to travel and dh wants to golf!!

I also am interested in volunteering, or working as a consultant.

We will probably stay where we are, unless our kids relocate, as well as many friends.

Our house will be paid off in 10 years (maybe less....I'm not sure)

We are pretty lucky,,,,dh works for a defense contractor, and has an awesome pension (which many people don't even have anymore) He also has been contributing to a 401 K since he was 21. So, he is basing our entire retirement on those numbers. So, I feel we will probably be able to afford to travel, since I also will have a pension (teachers), that will net me at least $1500. I also contribute to a tax deferred program. And dh may get social security. He doesn't base our planning on tehse, they are extra's.

mamalle
08-24-2005, 05:58 AM
we will keep our home here in Fla.. dh will retire at 60 from the fire dept and we will spend our time between Fla and NC. My dad is buying a home up there for the family and Im hoping to keep it in the family for us to retire also. If not we have our timeshare up there. Im not sure how long I will work since Im a RN and working flexible hours now. we really arent into traveling but will go to were the kids end up. dh's retirement is a pretty healthy size one and we will not have a mortgage when he retires so we will see..

ducklite
08-24-2005, 06:13 AM
I plan on working until I keel over.

I wouldnt know what to do with myself if I were retired! I get antsy on vacations - as much as I love them.

That sounds like my mom. At 73 she stills works, she's a RN and works p/t in a nursing home--how's that for ironic?

She certainly doesn't need to, she has two pensions, SS, an annuity that they put the money in when dad sold his business, and other savings. She sold her large house and rents a nice but affordable apartment in the same community she's lived in for 35+ years. She could have stayed in the house financially, but she likes having a landlord to call to fix anything needing fixing.

She volunteers for a couple organizations, plus helps her best friend with her disabled son. She also spends a lot of time with my siblings, helping with their kids. In her free time she reads, crochets baby blankets for an organization, and gardens.

This is the type of life I hope to have, although I'd like to travel more than she does.

Anne

Kramer
08-24-2005, 07:50 AM
I will be all set to semi-retire at 47 years old - which is about 13 years from now. I will have a pension from the state equal to 65% of my final year's salary. If I worked another 5 years, which I don't plan to do, I would receive a 70% pension. I also kick in addtional money into a 457 deferred compensation plan for retirement.

I would like to retire and relax for a couple of years and then probably get another job to keep busy. Nothing too complicated and definitely no nights or weekends!

My wife is a teacher, but she has been a SAHM since 2003 when our son was born. We have another due in November. She will eventually go back to teaching when the kids are older. My wife will probably work until she is 80 since she hates to sit around and always like to be busy doing something. Her teacher's pension would be another source of retirement income and whatever is left of social security would be a little extra.

I imagine that we will probably stay in NJ for our retirement as we can't see moving away from family. But we would probably head to Florida for the winter.

lillygator
08-24-2005, 08:01 AM
But we would probably head to Florida for the winter.

This seems to be the case with everyone!! It's going to be season here pretty soon!

Kristi1357
08-24-2005, 08:14 AM
I want to be like ElizaB39's parents!

Ever since we first visited my grandparents when they bought their house in The Villages - we decided that's where we want to be someday too. Very nice retirement community with about a million activites and things to do. My grandparents absolutely love it there and are so glad they made the move from way out near Citrus Hills.

My parents & uncles also think The Villages are great - so we will probably all end up there at some point! I also like that it's about one hour to Disney - not too close, not too far either.

We think we'd like to head to FL in our mid 50s, when DS is out of the house. I'd like a nice 3 bedroom (for visitors), but not too big. I also would like to travel alot. Better up the savings now! :flower:

wdwpluto
08-24-2005, 08:28 AM
I'm 29 and DH is 33, so we have some time to plan and save. We'll definitely get out of NJ, no question. Real Estate here is insane. Right now we're still renters and will be for the forseeable future. Heck, we may wait until we retire and buy an affordable home somewhere else in the country.

Both of us want to get into a more rural area and have a smallish chunk of land where we can do our own gardening and grow a lot of our own food. While we don't want to be off the grid, we definitely want to simplify.

We both would like to spend some time RVing around the country, but I don't think we could stand a permanant life on the road. Maybe for a few years so we can decide what part of the country we want to move to.

I'll probably end up doing some volunteer work as I'm the type that can't sit still. Maybe at an animal shelter or something like that. I'll also probably spend some time on my writing. I do now, but there's never enough hours in the day. DH will probably play video games. :rotfl: I can picture him at 89 with a PS2 controller in his hands, yelling at the tv. :rolleyes:

How? Well, no pensions here and likely no SS, so it'll be just what we save. So we're funding our 401ks and increasing the amount as often as we are able. As far as the when... who knows? I guess whatever the minimum age is to receive 401k distributions. Which is a long way off. Sigh.

Kay7979
08-24-2005, 08:48 AM
I'm in tune with wdwpluto's idea. We are building a house now outside a small city (more like a village) and we have 15 acres, 9 with woods. I really would like to retire in a few years so I have time to enjoy our house and land. We already have trails through the woods, a nice garden, outbuildings, etc. It's great to own land: so peaceful and relaxing, and yet there is a lot to do such as flower and vegetable gardens, maintain a few fruits trees, a small vineyard. I am sure we would not be bored! DH has an antiques business, and I am sure we will continue with that at whatever pace is more fun than work. We own three timeshares now, so we take three weeks vacation, and can take very cheap winter vacations someday by utilizing short notice "surplus" timeshare weeks (usually $300-500 for the week in a condo.) Last January we stayed at Old Key West in a one bedroom unit for about $350. I would like to spend about 6-8 weeks timeshare hopping at various resorts during Februray and March. That sounds like heaven to me.

YachtClubWoman
08-24-2005, 08:55 AM
Hi Eliza - Just wanted to say Hi neighbor - I live in Royersford

minkydog
08-24-2005, 08:56 AM
They also were advised to have at least 12 activities they were interested in and that they would do routinely. The activities did not have to be daily, some could be monthly or even seasonally (bus driving, golf, gardening) But some are all year round (reading, Red Hats, cards, travelling, investment club, hospice, church volunteering, birthday group, book club, family). On the flip side I see my in laws who are both retired and my FIL has only one activity that he does, and that is golf. He is declining the fastest of the four (my parents and my in laws). He is convinced he is old and this is his life now. He only golfs twice a week. I honestly don't what else he does, he is not a reader. Neither of my in laws volunteer and I don't know if they ever have. Volunteering is a big part of my parents lives.

The bottom line is, "Use it or lose it (your mind that is :goodvibes )".

It is supposed to be the best part of our lives, but you have to make it that way, it is not going to happen all on its own.

Off my soapbox now! :teeth:

Great ideas! I see this played out in my own family. My MIL has been very inactive ever since I've known her. Even before FIL died, she always seemed to be waiting for something. She had no friends, no hobbies, nothing but listening to the radio or reading all day. A very lonely existence. She has been living in an assisted living facility for the past 8yrs and still has no friends, does not participate in activities, just sits in her room and waits for her daughter to drop by. She is physically frail and has not had a new idea in at least 24yrs.

On the other hand, my mother is very active. she retired 10 years ago and since then she has traveled the country, cut down a tree, helped me through a serious medical crisis, cared for my handicapped son, helped my sister through Hurricane Ivan, learned to play a musical instrument, volunteered with the Salvation Army at Christmas, taken Elderhostel classes, sets up her own RV,and helped an immigrant get her papers straightened out. My step-father's death set her back for about 2yrs, but she has rallied well and still planning for the future.

I hope I will be like my mother. :banana:

figment95
08-24-2005, 09:01 AM
DH and I were just talking about this, which is amazing because he won't plan for next week, much less 20 years from now. We want to snow bird. DH loves to fish and we both love to RV. The last kid should finish college in 13 years and DH will have 30 years with his company a few years after that. He is a programmer /analyst and could do contract work very easily but no benefits and he would have to move around a lot. We have thought about selling the house and buying a bigger RV. If DH does contract work, we could just take the RV to wherever the work is, stay for a couple of months, and move on. That plan would be great for a few years, then I'd like to settle in Florida for winters; maybe get a part -time job at DW. I can't imagine not working at all. I would go crazy!!

chipmunkfan
08-24-2005, 09:28 AM
I've been thinking about retirement alot lately. My plan was too buy some land in upstate NY and retire from my office job in about 10 years and open a business in upstate NY. Now, I don't want to limit myself just to NY..maybe Michigan....either way I want to run my own business preferbly a campground until I pass away. Retirement for me is just to get out of an office job! :teeth:

Feralpeg
08-24-2005, 09:38 AM
Just a note for those of you planning on retiring early (before 59 1/2). Don't invest everything in retirement plans such as 401K or IRAs. If you do and are expecting to use that money when you retire (prior to 59 1/2), you will pay dearly due to penalties for early withdrawal. Invest some money in a non-retirement vehicle. Use that money until you are old enough to withdraw from retirement vehicles without penalty.

C.Ann
08-24-2005, 09:44 AM
I've been thinking about retirement alot lately. My plan was too buy some land in upstate NY and retire from my office job in about 10 years and open a business in upstate NY. Now, I don't want to limit myself just to NY..maybe Michigan....either way I want to run my own business preferbly a campground until I pass away. Retirement for me is just to get out of an office job! :teeth:
------------------

If your dream is to open a campground (and I actually know someone who did that when they retired :) ) the Adirondack Mountains in upstate NY is a place you want to avoid.. The APA (Adirondack Park Agency) is currently pushing to prohibit all campgrounds within the AP from allowing campers to remain in any campground for longer than 90 days - or to have a camper/trailer on site for more than 120 days.. That basically destroys the seasonal concept (the bread & butter of most campgrounds) and really has the owners and campers up in arms.. They're a pretty powerful group with VERY stringent rules & regulations..

chipmunkfan
08-24-2005, 10:18 AM
C.Ann,
Thanks for the information that's interesting and a shame. I rent a cabin for the winter season in Old Forge, NY and I know there is alot of seasonal sites for campers. That would be a hard hit to not only the campground but the businesses as well. The seasonal campers set up Nov 15th-April 15th for the snowmobile season. There is no way you can tow a camper during the high winter season, especially up there.

I hope the campgrounds push back.....

C.Ann
08-24-2005, 10:22 AM
C.Ann,
Thanks for the information that's interesting and a shame. I rent a cabin for the winter season in Old Forge, NY and I know there is alot of seasonal sites for campers. That would be a hard hit to not only the campground but the businesses as well. The seasonal campers set up Nov 15th-April 15th for the snowmobile season. There is no way you can tow a camper during the high winter season, especially up there.

I hope the campgrounds push back.....
-------------------

Yup.. The businesses are up in arms too.. Lots of people come up from the south in May and stay till late October (leaving their travel trailers on site) so it's going to be quite a loss to them as well..

The friend I spoke of (that retired) opened a campground down in the Catskills.. Ever been there? It's another nice area... :)

deelam
08-24-2005, 11:23 AM
I plan to live in the same house. My house is small. The taxes aren't too bad for New Jersey standards. It's about $4000 a year. The house is paid off, that's a big plus. Of course, if my kids decide on a big expensive college, I won't have any money left. But I'm hoping to have a good amount saved. Right now both my husband and I have about 100,000 each. We still have about 25 years until we retire.

ElizaB39
08-24-2005, 02:46 PM
Hello Yachtclubwoman/neighbor! Yes we are close to each other.

Regarding the Villages in FL. My in laws own a home there where many of their friends also have homes. It is a great place for seniors, I call it College for Seniors, especially with the 2 for 1's on the square during happy hour - hee hee. Even though they are in FL for 5 months each year, one month during the fall and 4 during the colder months, FIL still only golfs. And, there are tons of clubs and activities to participate in. MIL still takes tennis lessons and plays in a club (she is 67). She has more activities than FIL but not many. She is physically active and very social.

I was teasing my DH that we could buy one soon because he is almost 43, I think you have to be 50? or is it 55 to buy there? We could retire next to his parents! (no thanks) It would be a good investment though.

My parents have looked at the Villages and they feel like it is too organized for them. They are a bit more free wheeling and they like to be ON THE BEACH. Dad gets to deep sea fish and mom gets her long beach walks in. They have travelled all over the country now except the Southwest and I would love to do that area with them.

DH has given me carte blanche with where we retire since he chose where we live now (family business). We will be on a lake somewhere, I can't wait. I find the ocean a bit too humid for me so a lake is a good choice. BTW I grew up in Northern MN so lakes are in my blood. :teeth:

Feralpeg
08-24-2005, 03:05 PM
Hello Yachtclubwoman/neighbor! Yes we are close to each other.

Regarding the Villages in FL. My in laws own a home there where many of their friends also have homes. It is a great place for seniors, I call it College for Seniors, especially with the 2 for 1's on the square during happy hour - hee hee. Even though they are in FL for 5 months each year, one month during the fall and 4 during the colder months, FIL still only golfs. And, there are tons of clubs and activities to participate in. MIL still takes tennis lessons and plays in a club (she is 67). She has more activities than FIL but not many. She is physically active and very social.

I was teasing my DH that we could buy one soon because he is almost 43, I think you have to be 50? or is it 55 to buy there? We could retire next to his parents! (no thanks) It would be a good investment though.

My parents have looked at the Villages and they feel like it is too organized for them. They are a bit more free wheeling and they like to be ON THE BEACH. Dad gets to deep sea fish and mom gets her long beach walks in. They have travelled all over the country now except the Southwest and I would love to do that area with them.

DH has given me carte blanche with where we retire since he chose where we live now (family business). We will be on a lake somewhere, I can't wait. I find the ocean a bit too humid for me so a lake is a good choice. BTW I grew up in Northern MN so lakes are in my blood. :teeth:

You must be 55 to buy at The Villages. You cannot have any children under 18 living with you. I actually looked into it, but I was to young and DD was to young.

deelam
08-24-2005, 03:11 PM
I always wanted to buy a shore house at The New Jersey shore. this way I would be close to my family. But now houses are going for like $500,000. So that is out of the question.

I'd also like to move to Florida, for at least part of the year. I have allot of family in Florida too. Does anyone know if the property taxes in Florida are high like in New Jersey.

ElizaB39
08-24-2005, 05:43 PM
You must be 55 to buy at The Villages. You cannot have any children under 18 living with you. I actually looked into it, but I was to young and DD was to young.

I guess I was teasing him that he could buy there in 13 years then! hee hee Both kids would be legal adults by then and on their own (we hope :) ). We could have it as an investment property for a while, then use it or well it.

arminnie
08-25-2005, 03:31 PM
I am no longer working but didn't make a concious decision to retire. I had a couple of major surgeries in '99 and was on two long leaves of absence .

I tried to work most of 2000, but finally had to go back on leave of absence. Then had more surgeries in 2001. By this time I was out of short-term disability and had to sell my home (right after 9/11).

I moved from CA to Arkansas and live with my dad. When I first got back here I could barely walk ten steps. I never went back to work.

When my health improved enough that I could travel some that's what I started doing. I know what it is like to be unable to travel, shop, etc - I think I've had a preview of what it is like to be very, very old and frail.

My dad tells my friends that call "She's not at home - she's weird." He thinks I am strange for traveling so much. I still have to rest a lot and pace myself, but I'm doing what I can while I can.

The first year I spent NO money at all - first of all I didn't have the energy to go shopping, and two I was concerned about making my money last. My family had no money when I was growing up so I have great skills at living on nothing.

What is hard for me is to spend some of my money. I love to go to WDW but have been known to go with free miles, an AP (my big splurge) and a $25 a nice Hotwire hotel that I split with a friend.

You have no idea how HARD it was for me to spend the money to go to AKL two years ago even if it was only $109 a night with AP rate. I just felt so decadent, but I totally enjoyed it.

I have worked in two political campaigns. I can use my skills, but because I am a volunteer I do not have to go in when I want to travel or when my health problems make it difficult.

HenDuck
08-25-2005, 04:53 PM
It changes from time to time, but these basic expectations for retirement remain unchanged:

1. Have no mortgage.
2. Travel at least twice a year.
3. Do not rely on DS for my care.

Other than that, I'm pretty flexible.

:teeth:

LoveWDW
08-25-2005, 05:19 PM
I think my husband should retire, but he doesn't seem ready. I think the job defines him. But I see him working from 8 to 6 every day and then going back in to work after supper most days. In addition to that he goes on business travel frequently, and then has to make up the work that piled up on his desk when he was gone, so he works some weekends. He doesn't have any real hobbies or activities as a result. So I don't know what he'd do. We talked about travel, but it would be fairly short trips, if only because we have pets and I have a job that is not as flexible at taking off as his is.

I teach exercise to older people. I choreograph as well as lead classes. I have thought about retiring, but if I retired, I'd have to enroll in a fitness club, since I am not motivated to exercise on my own. So I'd be paying money to do what I do now that pays me money to do. I exercise, and am getting paid at the same time. It's not all that simple, of course, since it takes considerable preparation time at home as well as the study for recertification as exercise instructor.

We have looked at retirement communities including one near Baltimore that is a huge complex of apartments joined at a central hub. Within the hub are the security guard's desk (the guard monitors people who enter), a library, elegant sitting room and computer room, three restaurants and a bar, a swimming pool, exercise room, small shop, health care. There are activities that you pay for and some included. Some laundry and housekeeping. An attached assisted living section, and a related nursing home a short distance away. I like the two bedroom apartments that have 2 baths and a balcony in addition to the other usual rooms.

moonvine
08-26-2005, 06:00 PM
I'm 38 now, and plan to retire no later than 55.

I am single so I have a lot of control over this, assuming no health problems or other crises occur in the next 17 years.

I plan on basically doing whatever I want, which will include a lot of travel, some animal rescue, learning new things. I will move to somewhere cheaper, likely Alabama or Mississippi.

disneysteve
08-26-2005, 06:45 PM
Great question C.Ann.

I hope to retire when I'm about 62. I hope to stay in our current home until then and maybe, close to then, have bought a 2nd home in the Disney area. Whether or not we move to Florida permanently will probably depend on factors like where our daughter settles and other personal things. Maybe we'll sell our house and just maintain a small apartment in the area for visits.

I plan to travel a lot. I would love to own or periodically rent an RV and hit the road. I love to drive and see the country. I also want to see the rest of the world as well on cruises and land-based vacations.

Snoozan
08-27-2005, 05:07 PM
This thread has really given me something to think about, especially the part of having 12 things for activities. I'm 46 now, my DH is 48 and we've had our house here in Mass. paid off for years, but now I've got 2 yrs of college to help pay for for my youngest DS. I do know, and keep telling my DH, that I absolutely will NOT be living in NE during the months of January, February & March the minute I retire. I'm hoping our jobs stay here in this area until we're ready for early retirement - 55 for me, 57 for DH. That would give my DH something like 35+ years with the same company and about 35 years for me, with my company changing hands a few times, but really still the same company.

I've had several health issues, including cancer, that I've dealt with so I'm a big believer in not putting everything off "until we retire". That's one reason I take my yearly or more trips to Disney, as well as other short vacations. My next goal is to see the Red Sox play in away games at least once every season. That'll get me to see cities I'd probably never experience, plus I'd get to see the Red Sox play, as it's next to impossible to get tix to Fenway! This year was Baltimore - next year is Philly or Tampa!

My DH & I are savers and are quite frugal most of the time, so I'm hoping we will have the $$$ we need to stop working Full-time within 10 years. I can see my DH working for the local golf course during the summer and I'd be happy working part-time and volunteering. I'm sure the health insurance issue will be the driving force in determining when we retire.