As someone has already wisely said you'll be suprised at how many savings you can make when you're not working. Things that when you are working seem important time saving devices and measures no longer will have the same importance attached to them.
A case in point for me would be tonight (I'm currently "between jobs") . I was out with an ex client for a meal. On my way home I got to my local station at 11.15. If I had been working I would have taken a taxi home ( taxi would cost about $15.00) because I would have to be up at before 06.00 to get into work on time. Because I have no time constraints I waited for a bus that was already included in my train ticket cost. My mom is retired and she saves herself a fortune on things like home, travel+car insurance, gets the best rates on her savings, best deals on services and she vacations when the airlines are doing the best deals on the tickets. All because she has the time to look into what is available. Many people working full time do not have the available time to do that research and end up paying more for convenience. Hobbies like playing golf you can take out a midweek membership at maybe 50% of the cost of playing at weekends.
I know when I was working full time it cost me $18 a day in traveling costs and another $15 a day in buying food from cafes and restaurants for breakfast and lunch. If I went for a quick beer with colleagues thats a minimum of another $30 gone. Not working I reckon I've lowered my costs by close on $1,000 a month at the moment
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Certainly in Europe a lot of peoples "savings" are tied up in their "family home" when they hit retirement and their kids have all left home many people either "down size" or take equity out of their home by taking on "loans" against their property. In and around London a "regular" 3 bedroom home in an average area is going to set you back a minimum of $500,000. In a good area you're close on $1 mill. I know not all the US has those type of property prices but certainly a lot of the North East are close. I would think someone from the nicer parts on NY or Boston selling their 3/4 bedroom home could relocate to Florida buy a house as big or bigger than their previous one and still bank $300-400,000.
I would agree that medical issues is a big potential problem to people in the US, but with the costs involved there you could work yourself into an early grave trying to stave it off.
Hey maybe that's dzneelvr's cunning plan. He's going to save the insurance companies he works for LOADS of money by scaring everyone into working themselves into an early death. LOL
A case in point for me would be tonight (I'm currently "between jobs") . I was out with an ex client for a meal. On my way home I got to my local station at 11.15. If I had been working I would have taken a taxi home ( taxi would cost about $15.00) because I would have to be up at before 06.00 to get into work on time. Because I have no time constraints I waited for a bus that was already included in my train ticket cost. My mom is retired and she saves herself a fortune on things like home, travel+car insurance, gets the best rates on her savings, best deals on services and she vacations when the airlines are doing the best deals on the tickets. All because she has the time to look into what is available. Many people working full time do not have the available time to do that research and end up paying more for convenience. Hobbies like playing golf you can take out a midweek membership at maybe 50% of the cost of playing at weekends.
I know when I was working full time it cost me $18 a day in traveling costs and another $15 a day in buying food from cafes and restaurants for breakfast and lunch. If I went for a quick beer with colleagues thats a minimum of another $30 gone. Not working I reckon I've lowered my costs by close on $1,000 a month at the moment
. Certainly in Europe a lot of peoples "savings" are tied up in their "family home" when they hit retirement and their kids have all left home many people either "down size" or take equity out of their home by taking on "loans" against their property. In and around London a "regular" 3 bedroom home in an average area is going to set you back a minimum of $500,000. In a good area you're close on $1 mill. I know not all the US has those type of property prices but certainly a lot of the North East are close. I would think someone from the nicer parts on NY or Boston selling their 3/4 bedroom home could relocate to Florida buy a house as big or bigger than their previous one and still bank $300-400,000.
I would agree that medical issues is a big potential problem to people in the US, but with the costs involved there you could work yourself into an early grave trying to stave it off.
Hey maybe that's dzneelvr's cunning plan. He's going to save the insurance companies he works for LOADS of money by scaring everyone into working themselves into an early death.
LOL
