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Old 04-02-2015, 01:59 PM   #41
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[QUOTE=Fermion;1577086]There will always be some way to game the system for low income folk.

Actually, There will always be some way to game the system. period. at all income levels. But is that really how you want to plan for your ER?
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Old 04-02-2015, 02:51 PM   #42
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There will always be some way to game the system for low income folk.
Actually, There will always be some way to game the system. period. at all income levels. But is that really how you want to plan for your ER?
If it means doing what you want to do before you die, then yes, yes, I do.

In my opinion the system has been gaming me for years, so turning the tables just feels good.
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Old 04-02-2015, 03:24 PM   #43
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Gaming -- Nothing illegal of course. Just doing what every red blooded politician with strong religious ethics has done for decades in the good old USA.


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Old 04-02-2015, 04:59 PM   #44
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I feel porky pig will make an appearance soon.
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Old 04-02-2015, 05:11 PM   #45
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Hopefully the thread can continue - but it would sure help if it gets back on topic, which is a discussion about our new member offroad and his retirement plan.
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Old 04-02-2015, 06:12 PM   #46
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I think offroad appreciates the discussion of how he can get cheaper healthcare since it is 20% or so of his current $30,000 budget.
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Old 04-03-2015, 07:53 AM   #47
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Well dirt cheap retirement does factor in longevity. See many are thinking they will live long years past 70. Lol. Not happening folks no matter how healthy you are. Half are passed on by 70 for men.


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Old 04-03-2015, 08:00 AM   #48
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See many are thinking they will live long years past 70. Lol. Not happening folks no matter how healthy you are. Half are passed on by 70 for men.
If that's the case why does the SS longevity table say 73% of males in the US are still above ground at age 70? Odds of survival don't drop below 50% until age 80.

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Old 04-03-2015, 08:09 AM   #49
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Pretty horrible though that you have a 27% chance of not making it to age 70 and plenty of people don't retire until 65.

I am not sure I would take on an investment that has a 27% chance of a 100% loss.
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new - dirt cheap retirement?
Old 04-03-2015, 08:13 AM   #50
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new - dirt cheap retirement?

http://www.usatoday.com/story/news/n...high/16874039/

Maybe my interpretation of average. 76.4 doesn't mean half are dead by then? Or that most will live this long and that's it? Many not as long.


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Old 04-03-2015, 12:53 PM   #51
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The good news is that people are living longer.

The bad news is that we don't get to pick which ones.
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Old 04-03-2015, 07:21 PM   #52
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I think you might enjoy reading Mr. Money Mustache forum since the people there in general tend to retire on much less $ then this forum. I personally would not want to live on so little but many do.
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Old 04-03-2015, 07:27 PM   #53
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I think you might enjoy reading Mr. Money Mustache forum since the people there in general tend to retire on much less $ then this forum. I personally would not want to live on so little but many do.
I agree. I would rather work longer than to be able to say I am retired but have to constantly worry about going over my budget every month.
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Old 04-04-2015, 01:47 AM   #54
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I think you might enjoy reading Mr. Money Mustache forum since the people there in general tend to retire on much less $ then this forum. I personally would not want to live on so little but many do.
I read there also
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Old 04-04-2015, 07:45 AM   #55
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Pretty horrible though that you have a 27% chance of not making it to age 70 and plenty of people don't retire until 65.
The SS retirement age of 65 was set back when most people were expected to be dead by that age.
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Old 04-04-2015, 08:17 AM   #56
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If your rent is high in your area, move to a different region of the country. You are not working so why stay in a high COL area?

Car. None. Why pay ins., taxes, gas. when you are not having to commute? Ride a bike and take public transportation when available. Hire a taxi or rent a car for longer trips. Save $300 or more a month here.
I like much in your post but may I point out that in most low COL areas you're gonna need a car as public transport options are thin or pretty much non-existent. (and that's not saying a car has to cost all that much either, but depending on where you live it can be cheaper than not having one)
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Old 04-04-2015, 09:23 AM   #57
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Mr. Money Moustache is too hardcore anti-spend for me. I understand the "live like a Pauper now, so you can live like a King later" mantra, but I just am too afraid of "living like a Pauper now, so I can.... die".

I think there's a happy medium somewhere.
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Old 04-04-2015, 09:53 AM   #58
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Mr. Money Moustache is too hardcore anti-spend for me. I understand the "live like a Pauper now, so you can live like a King later" mantra, but I just am too afraid of "living like a Pauper now, so I can.... die".

I think there's a happy medium somewhere.
But this is exactly what I stress when people on here propose working years longer such that your odds of having enough money if you live until 90 are near 100%.

You may only live 5 to 10 years after retirement even if you retire at 45 or 50. You may not even get to do the things you wanted to do in retirement if you wait until your financial situation is beyond comfortable.
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Old 04-04-2015, 10:05 AM   #59
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FWIW, I checked into what it takes to get a senior citizen (61+) property tax exemption in my county. Max household income must be 35,000 or lower to be exempt from all excess and special levies of the property tax. If the household income is 25,000 or less, one is also exempt from regular levies on the first 60% of the value of your house.

So... if one is retired on a very limited income, one can live relatively cheaply when it comes to property taxes.

Note1: Reg IRA, 401k, 403b withdrawals are included in the income. So are pensions, interest dividends and capital gains. Non taxable withdrawals are not. (yea Roths!)

Note2: The income limits are not adjusted for inflation as far as I can see. Gotcha!
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Old 04-04-2015, 11:43 AM   #60
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Another low-cost retirement option: (so long as one is not married to Eva Gabor)


And here's another ER money-saving strategy:
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