Retire Comfortably for Under $1,500 a Month

[AnonymouslyIndebted]

I recently came across this article about retiring comfortably for under $1,500. a month and thought I'd share it here.

 

http://finance.yahoo.com/news/How-to-Retir...852806.html?x=0

[centex]

I wonder how long it will take for the feds to create a way to shut down SS payments to those who chose to live outside the USA...

[Jen23514]

I wonder how long it will take for the feds to create a way to shut down SS payments to those who chose to live outside the USA...

 

god i hope not.

 

retiring to a place outside of the US has been on my goal list for the past 5+ years

[Operation_Home_Ownership]

I wonder how long it will take for the feds to create a way to shut down SS payments to those who chose to live outside the USA...

 

god i hope not.

 

retiring to a place outside of the US has been on my goal list for the past 5+ years

 

Ditto. I also hope they continue to butt out of Non-US retirement dreams.

[snowpuppy]

I wonder how long it will take for the feds to create a way to shut down SS payments to those who chose to live outside the USA...

 

 

Currently they're thinking in terms of making you exhaust your pension/IRA/401K first, and then you'll be eligible for SSA retirement benefits.

 

Which is the way SSA was first conceived, meant to be a lifeline only for the most needy.

 

Then they'll cut off payment to your offshore account.

[cb_opus]

I'm not a xenophobe by any stretch, but I just can't see me relocating permanently to a place where I am not a citizen.

 

Loooong vacations - absolutely!

 

Property-owning non-citizen permanent resident. nope.

[radi8]

Currently they're thinking in terms of making you exhaust your pension/IRA/401K first

 

Sadly, that won't take long.

[MB82x]

I can afford this!

 

Too bad in order to afford it, I need to keep my current job... in New England.

 

I'd like to retire to another country when the time comes. Too much hustle and bustle, worry and woe in the US. Everything is work, work, work, go, go, go, buy, buy, buy... I don't stress too much, but it's evident others do - and they wind out taking it out on everyone else.

[radi8]

I'd like to retire to another country when the time comes. Too much hustle and bustle, worry and woe in the US. Everything is work, work, work, go, go, go, buy, buy, buy... I don't stress too much, but it's evident others do - and they wind out taking it out on everyone else.

 

ITA. The USA ranks somewhere around #11 in terms of "best places to live". For whatever those surveys are worth.

There are some things this country does extremely well, but others where it's really fallen apart.

With more and more MD's refusing Medicare patients, it may become yet another challenge for the retired- one they may not have to deal with elsewhere.

[MB82x]

I'm learning a bit that it's important to relax a bit too... which is why I volunteered to give up 4/hrs a week at work...

 

Budget cuts, payroll cuts... my boss didn't want to touch my hours - but I "valiantly" offered to work four days a week, 9 hours a day; instead of five days a week, 8 hours a day.

 

Loss: 4 hours of pay a week (less, considering I pickup time on Sunday)

Gain: Three day weekends every week.

 

Well worth the trade off IMO.

[snowpuppy]

Currently they're thinking in terms of making you exhaust your pension/IRA/401K first

 

Sadly, that won't take long.

 

 

Couple of pasties at the neighborhood drive thru will wipe it out, eh?

[radi8]

Currently they're thinking in terms of making you exhaust your pension/IRA/401K first

 

Sadly, that won't take long.

 

 

Couple of pasties at the neighborhood drive thru will wipe it out, eh?

 

 

A couple? I'm thinking one + a soda.

 

 

[snowpuppy]

I'm right there with ya, my dear.

[Jen23514]

I wonder how long it will take for the feds to create a way to shut down SS payments to those who chose to live outside the USA...

 

god i hope not.

 

retiring to a place outside of the US has been on my goal list for the past 5+ years

 

Ditto. I also hope they continue to butt out of Non-US retirement dreams.

 

you've been quiet lately.....

[higher180]

A while back Clutch and I were talking about having a CB retreat in Belize

[Guest verve]

The last time I was in Belize the Hotel staff insisted that I not go get a burger on my own because it was too dangerous. The last time I looked Belize had the highest instances of armed robbery in the world. Maybe it is different now. I know I was relieved to get there when i did but only because I had just come from Honduras and Guatemala. I think Costa Rica would be a better choice.

[Cactus Flower]

Currently they're thinking in terms of making you exhaust your pension/IRA/401K first

 

Sadly, that won't take long.

 

 

well let me see.. 2-3 years for me unless I have the house paid off and no bills by then - LOL

[TroyP]

I wonder how long it will take for the feds to create a way to shut down SS payments to those who chose to live outside the USA...

 

They've been getting 12.4% of my earned income since I was 13, by my math, they should have a fair amount set aside for me by now...

[centex]

I wonder how long it will take for the feds to create a way to shut down SS payments to those who chose to live outside the USA...

 

They've been getting 12.4% of my earned income since I was 13, by my math, they should have a fair amount set aside for me by now...

 

emphasis on the word SHOULD. However. SHOULD and WILL are two different concepts when it comes to SS.

[hegemony]

I wonder how long it will take for the feds to create a way to shut down SS payments to those who chose to live outside the USA...

 

They've been getting 12.4% of my earned income since I was 13, by my math, they should have a fair amount set aside for me by now...

 

emphasis on the word SHOULD. However. SHOULD and WILL are two different concepts when it comes to SS.

makes me happy I don't pay in.

[Rebuilding2010]

My naive self still doesn't understand why it costs so much to retire. Figure by that time you have all the main expenses, housing, and such out the way no? Hopefully at least, by the time the 30 year mortgage is paid off, the car is in pretty ok shape, so what's left: Food electricity, ohhh and medical bills I'm assuming?

 

I figure this: I'm gonna have tons of kids so they can support me when I'm old just like I support my mom now. I always tell her, don't feel bad asking me for money, you supported me for decades without asking for anything in return. You're the only reason I have what I have. It's like in a divorce, sweat equity, half is yours lady.

[TroyP]

My naive self still doesn't understand why it costs so much to retire. Figure by that time you have all the main expenses, housing, and such out the way no? Hopefully at least, by the time the 30 year mortgage is paid off, the car is in pretty ok shape, so what's left: Food electricity, ohhh and medical bills I'm assuming?

 

I figure this: I'm gonna have tons of kids so they can support me when I'm old just like I support my mom now. I always tell her, don't feel bad asking me for money, you supported me for decades without asking for anything in return. You're the only reason I have what I have. It's like in a divorce, sweat equity, half is yours lady.

 

It costs so much because most people don't have the mortgage paid off, and they have car payments, and they still shop, and they travel, and spoil their grandkids. Then they have huge co-pays at the pharmacy because they have high blood pressure from dealing with customer service at banks, and they have anxiety issues because they're worried they don't have enough for retirement. They could have sold their big home and moved into a smaller place with no mortgage, except their 43 year old son got divorced 2 years ago, and he and his two kids live with them, of course, they also eat them out of house and home, and drive the water bill sky high, but they're family, so you just suffer through it. The crowded house causes stress, which means they'll need more Zoloft, more co-pays.

 

Maybe that's a bit dramatic, but it probably isn't too far off from reality for a lot of people.

[centex]

My naive self still doesn't understand why it costs so much to retire. Figure by that time you have all the main expenses, housing, and such out the way no? Hopefully at least, by the time the 30 year mortgage is paid off, the car is in pretty ok shape, so what's left: Food electricity, ohhh and medical bills I'm assuming?

 

I figure this: I'm gonna have tons of kids so they can support me when I'm old just like I support my mom now. I always tell her, don't feel bad asking me for money, you supported me for decades without asking for anything in return. You're the only reason I have what I have. It's like in a divorce, sweat equity, half is yours lady.

 

It costs so much because most people don't have the mortgage paid off, and they have car payments, and they still shop, and they travel, and spoil their grandkids. Then they have huge co-pays at the pharmacy because they have high blood pressure from dealing with customer service at banks, and they have anxiety issues because they're worried they don't have enough for retirement. They could have sold their big home and moved into a smaller place with no mortgage, except their 43 year old son got divorced 2 years ago, and he and his two kids live with them, of course, they also eat them out of house and home, and drive the water bill sky high, but they're family, so you just suffer through it. The crowded house causes stress, which means they'll need more Zoloft, more co-pays.

 

Maybe that's a bit dramatic, but it probably isn't too far off from reality for a lot of people.

 

As people start living longer, I think the cases like my grandparents have become more the norm...sell the house, put funds into account, move into retirement community that has 24/7 care, and then move to a smaller unit when one passes on.

 

They get better care but also wind up putting out close to $3K a month on the rent.

 

Let's face it, more and more folks are living into their 90's these days...

[TroyP]

My naive self still doesn't understand why it costs so much to retire. Figure by that time you have all the main expenses, housing, and such out the way no? Hopefully at least, by the time the 30 year mortgage is paid off, the car is in pretty ok shape, so what's left: Food electricity, ohhh and medical bills I'm assuming?

 

I figure this: I'm gonna have tons of kids so they can support me when I'm old just like I support my mom now. I always tell her, don't feel bad asking me for money, you supported me for decades without asking for anything in return. You're the only reason I have what I have. It's like in a divorce, sweat equity, half is yours lady.

 

It costs so much because most people don't have the mortgage paid off, and they have car payments, and they still shop, and they travel, and spoil their grandkids. Then they have huge co-pays at the pharmacy because they have high blood pressure from dealing with customer service at banks, and they have anxiety issues because they're worried they don't have enough for retirement. They could have sold their big home and moved into a smaller place with no mortgage, except their 43 year old son got divorced 2 years ago, and he and his two kids live with them, of course, they also eat them out of house and home, and drive the water bill sky high, but they're family, so you just suffer through it. The crowded house causes stress, which means they'll need more Zoloft, more co-pays.

 

Maybe that's a bit dramatic, but it probably isn't too far off from reality for a lot of people.

 

As people start living longer, I think the cases like my grandparents have become more the norm...sell the house, put funds into account, move into retirement community that has 24/7 care, and then move to a smaller unit when one passes on.

 

They get better care but also wind up putting out close to $3K a month on the rent.

 

Let's face it, more and more folks are living into their 90's these days...

 

My great-grandmother is 103... she's been eligible for full retirement benefits for 38 years.