Sherry
Confused about dryer sheets
Hi, I am SherryI would love to know if I can reire now, on an annual pension of 34,000 dollars a year and my health insurance and dental care are already paid for.
Sherry said:Hi, I am SherryI would love to know if I can reire now, on an annual pension of 34,000 dollars a year and my health insurance and dental care are already paid for.
Sherry said:Hi, I am SherryI would love to know if I can reire now, on an annual pension of 34,000 dollars a year and my health insurance and dental care are already paid for.
pb4uski said:If you and DH can live on $34k you're all set. Given the level of your retirement income I wouldn't think that state income taxes would be very significant after considering other costs of living of various states, but you could easily analyze your tax situation in your current home state vs FL or wherever at your level of retirement income.
Hi Sherry, Washington State doesn't have income tax, but we do have sales tax, and depending where in the state you live, the combined state + local rate can approach 10%. I live in Washington and can't think of anywhere else I'd rather be, but don't assume it's inexpensive to live here just because there's no income tax. Washington, the part west of the Cascade range anyway, has a pretty high cost of living. Have you looked at City-Data.com? You can get some idea there how the cost of living in areas you might move to compares to where you live now.Thank you for your help
My pension has cost of living increases. I will only receive about 300 dollars a month of SS and I am not counting this in the 34 thousand dollar pension. I am married but if my husband dies, i am not eligible for his SS. And, he does not have a 401 or pension. I have thought about moving to Wasington or Florida bkz they do not have income tax. Thank you
It's quite simple.Hi, I am SherryI would love to know if I can reire now, on an annual pension of 34,000 dollars a year and my health insurance and dental care are already paid for.
Sure you are. If you are legally married, you can get 100% of his benefit, measured on the last day of his life.I am married but if my husband dies, i am not eligible for his SS.
rescueme said:Sure you are. If you are legally married, you can get 100% of his benefit, measured on the last day of his life.
It's rarely if ever that simple, hopefully the OP knows better...It's quite simple.
Does your income => than your expenses?
Yes, it is that easy ...
It's rarely if ever that simple....
NW-Bound said:My own mother's pension and SS are less than $34K. Yet, she is doing fine despite having to pay for dental care and Medicare supplement. An important factor is that she owns her home, a very comfortable 1,700-sq.ft. home that is relatively new and needs little maintenance.
So, I would say that it is definitely doable for the OP, who has medical costs already covered. But only the OP would know whether her current expenses are under her income. I am sure that my mom does not feel at all deprived, but then she is 80-yr-old and does not have the same needs as someone in the 50s or 60s.