retirement

[Sugar Magnolia]

We spend about 20% more in retirement than we did when working. Our health insurance has doubled in 5 years--don't get me started. We budgeted 10K a year for vacations but tight budgeting, based on the stock market conditions, at least for now, has reduced that to about $3000.

 

The thing you have to consider is, the 8-12 hours a day you commute and work has to be spent doing something. Unless you plan to spend that time vegging in front of the TV, leisure time is costly. We took that into account when we retired, so we were prepared. But, we weren't prepared for the worst 10 year stock market period in 80 some years, or doubling of our medical insurance in 5 years.

 

BTW, we retired 5 years ago when I was 47 and Mr. Sugar Mags was 49. We have recently supplemented our income through part time work, and that money will be funding a 160K home remodel and 10 years of 10K vacations. The above 20% increase does not include these expenses. We plan to be 100% retired in three years unless the market tanks again.

 

I enjoy my work, but Mr Sugar is doing it just for the money. He loves not working. In fact he wouldn't work if he didn't have a nagging wife pushing him. He hasn't actively looked for work and only works when he is approached as a consultant. Last year he worked 14 hours, this year he will probably be working about 600-700 hours cleaning up a nasty groundwater site in Henderson, NV.

[SheikYerbuti]

If a loaf of bread is $15 when I retire and I'm getting 80% of what I make today, I'm not so sure I'll travel anywhere but to the cat food aisle.

 

For a treat, I sometimes give my cats a can of Fancy Feast. Can't help but noticing that some of the varieties actually look appetizing. You could slap the liver one on a serving dish with crackers and call it pate and damned if I'd know the difference.

[rocknrobn26]

dam...there are some good posts here. I need to reply, but no time right now.

Shug's reply is interesting and I need to look at it further.

More later....

[JoJoTheWebToedBoy]

My wife told me I had to work until I die........

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I may need to get a new wife

[westvirginia]

My wife told me I had to work until I die........

 

 

I may need to get a new wife

 

Or shoot yourself.

 

What? It's an option!

[Perchoutofwater]

If you're going to sit around gaping at daytime TV all day then sure your brain will turn to mush. I have so many interests and things I want to do that I could start right now and never hope to get through them before I shuffle off the mortal coil.

 

+1 My 93 y.o. grandfather is still sharp as a whip. Every week day he goes and plays dominoes and drinks coffee with a bunch of old men at the local drug store for two hours, then he goes and delivers meals on wheels (usually two routes sometimes three) to the "old people". He will get back home about 1:00 will take a nap (we think that is code for tapping his 85 y.o. Italian wife). Then he will usually come by the office to see what we are working on, and sometimes go out on job sites just to see how much has changed since he was in the business. Then he will play bridge two nights a week, and he and his wife usually have dinner plans another two or three nights a week. We had to tell him about a year ago that we didn't want him mowing his yard anymore. It really pissed him off.

[SayItAintSoJoe]

Unless you plan to spend that time vegging in front of the TV, leisure time is costly....

 

...BTW, we retired 5 years ago when I was 47 and Mr. Sugar Mags was 49.

 

I can relate. My wife works 3 days a week (12 hr shifts). On the days she works we virtually spend no money, but on the days she is off...watch out!

 

I think your post has pointed out the problem with early retirement. You're supposed to retire when you're so old and tired that you don't have the energy to do anything.

[polksalet]

+1 My 93 y.o. grandfather is still sharp as a whip. Every week day he goes and plays dominoes and drinks coffee with a bunch of old men at the local drug store for two hours, then he goes and delivers meals on wheels (usually two routes sometimes three) to the "old people". He will get back home about 1:00 will take a nap (we think that is code for tapping his 85 y.o. Italian wife). Then he will usually come by the office to see what we are working on, and sometimes go out on job sites just to see how much has changed since he was in the business. Then he will play bridge two nights a week, and he and his wife usually have dinner plans another two or three nights a week. We had to tell him about a year ago that we didn't want him mowing his yard anymore. It really pissed him off.

 

My grandad worked full-time til 90 and then went part-time at 92. You can say I have a leg up, genetically.

[rocknrobn26]

As far as pensions go:

I'm on a pension.

I paid in 8.5%-9.5% of my income for 30 years.

It was not optional. If they had told me back when that the system would be F'd up due to their lack of responsibility and given other options, I'd have considered it.

The state was supposed to match it. That is OUR money, not theirs to re-direct!

They haven't/didn't for the last 20+ years.

Up until the market slump/crash we were surprisingly still solvent.

 

How can anyone break a contract and get away w/ it?

How come they didn't pay?

It's a standard budget item. it's part of the state constitution.

I can't not pay my "standard budget items". How come they can?

Believe me, if our state had put just 50% of what they owe, most people would like to invest in it as outsiders.

 

Replies?

[BeeR]

It's gov't. By definition it's f'ed up.

[The Holy Roller]

Fair enough. But part of what makes me tick is that I do something well enough that people are willing to pay me ever-increasing amounts to do it. It affirms my value as a person, and can't imagine not needing that affirmation. Perhaps there will be a different means through which I satisfy that psychological need, but I've yet to find it. Perhaps I'd be just as happy being the part-time civics teacher and debate team coach at the local public high school. But I'll always be doing something like that. It makes me happy in a way that pursing personal interests does not.

 

This might be my favorite post from yo mama ever.