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Old 12-05-2010, 08:03 AM   #121
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I plan to retire with income of about $20,000. I will make it ok. You people who say it cannot be done do not know what you are talking about. I only made $9000 in 1994 and $12000 in 1996 and I am still here. I have saved though. I have never owned a new car but I still get to where I am going. We never eat out and never travel. I traveled the world in the 60's while in the military so there is nowhere I want to go. I have never had to hire a plumber, mechanic or anyone to help me fix things. I figured out how to do them myself. Everyone today worries about health insurance. I am going to do without until Medicare kicks in next year. I plan on doing away with my phone, tv and INTERNET. I grew up without any of these and made it quite well. oldtrig
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Old 12-05-2010, 08:24 AM   #122
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So Oldtrig, what do you plan to do all day? I am not making fun, I am curious. I know someone much like you that lives on social security, in a small house he owns out in the boonies, and fixes everything himself. He watches no tv but recently got the internet. I am sure he lives on less than 20,000 a year. He seems busy all the time but I can't quite figure out what he does all day. Putzing I guess. LIke me, just different putzing.
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Old 12-05-2010, 01:36 PM   #123
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Martha, I plan on working everyday at the shop I own. I can weld, work on small engines and believe it or not I taught myself 12 years ago to repair and network computers. I worked in this shop for almost 30 years before I give it up 14 years ago to take the job I have now. The difference now is I will not have to make ends meet because I will have income. I also plan on playing golf when time permits. I also plan on helping older people who cannot afford to have things fixed. I see no way I will have time for TV, talking on a phone or surfing the internet. Most or time wasters anyway. I am in good health and hope to stay that way. Leaving stress at my present job will aid in keeping me healthy. When I start my new goal in life if stress comes along I will just close the shop doors and go home
Finally I will be able to work on things and enjoy it, at least that is my plan. Oldtrig
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Old 12-05-2010, 01:45 PM   #124
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Martha, I plan on working everyday at the shop I own. I can weld, work on small engines and believe it or not I taught myself 12 years ago to repair and network computers. I worked in this shop for almost 30 years before I give it up 14 years ago to take the job I have now. The difference now is I will not have to make ends meet because I will have income. I also plan on playing golf when time permits. I also plan on helping older people who cannot afford to have things fixed. I see no way I will have time for TV, talking on a phone or surfing the internet. Most or time wasters anyway. I am in good health and hope to stay that way. Leaving stress at my present job will aid in keeping me healthy. When I start my new goal in life if stress comes along I will just close the shop doors and go home
Finally I will be able to work on things and enjoy it, at least that is my plan. Oldtrig
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Old 12-05-2010, 02:17 PM   #125
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... Finally I will be able to work on things and enjoy it, at least that is my plan. Oldtrig
Thanks for posting, oldtrig. People who live a city life simply cannot understand how one can live simply in a rural area for so little. I am a city rat myself, but I know others can do it. It's good to know you can keep yourself entertained without having to spend a lot of money. Also, you seem to be able to keep from getting bored.

Best wishes. And don't swear off the Internet! You've got to keep us informed on how you are doin'.
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Old 12-05-2010, 02:26 PM   #126
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My grandfather did the same thing exact thing Oldtrig, but a word of warning, be careful with ladders. My grandfather fell off a ladder in his late 70s once, but was fine. He kept climbing ladders. Shortly after, he fell off a ladder, again, fine. He kept climbing ladders. He fell off a ladder again, he wasn't so fine after that.
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Old 12-05-2010, 02:27 PM   #127
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People don't realize there is so much of the world out there that is free or low cost (parks, libraries, museums, etc.) because they are too busy in their expensive virtual world tweeting about the latest video of a housecat wearing a tutu on their $200 a month plan Iphone, usually while driving their nearly new latest "green" car in stop-and-go traffic to get to their job so they can make enough cash to stay in the virtual world.

Is big city life really THAT entertaining?
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Old 12-05-2010, 02:30 PM   #128
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Martha, I plan on working everyday at the shop I own. I can weld, work on small engines and believe it or not I taught myself 12 years ago to repair and network computers. I worked in this shop for almost 30 years before I give it up 14 years ago to take the job I have now.
When I lived in farm country I had an old buddy who retired from a career as a career farm welder/iron worker. He would sometimes work 20 hour days for weeks, repairing broken down pea viners in the field.

When he retired he was able to get an old milling machine and some precision saws and do just about anything involving iron in his farm shop. He was never bored, because in a rural area there are plenty people who have stuff to be repaired or made for a decent price. He made me a great spit to barbecue whole sheep and a whole lot of other things. I was in awe of his skill and resourcefulness.

This kind of retirement beats a lot of other possibilities.

Ha
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Old 12-05-2010, 02:33 PM   #129
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People don't realize there is so much of the world out there that is free or low cost (parks, libraries, museums, etc.) because they are too busy in their expensive virtual world tweeting about the latest video of a housecat wearing a tutu on their $200 a month plan Iphone, usually while driving their nearly new latest "green" car in stop-and-go traffic to get to their job so they can make enough cash to stay in the virtual world.

Is big city life really THAT entertaining?
Well not to disagree with your thesis, but usually
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(parks, libraries, museums, etc.)
are found in big cities. And the best ones, in the biggest cities.

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Old 12-05-2010, 02:43 PM   #130
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Is big city life really THAT entertaining?
My main house is in the suburb of a metropolitan area with more than 4 million people. We have not been to the movie theater in perhaps 3 years. We have not set foot in a shopping mall in longer than that. My other place is in the boonies, where I have to drive 30 mi to get groceries. Up there, I miss a "real" library, choices of grocery stores like Trader Joe's and Fresh-n-Easy.

I have not lived in my boonies home for several months at a time to see if I would get bored. I would get Internet though, to get a window into the world. Else, there may be a pandemic flu wiping out half the world population and I might not know. I would also want to make sure I would not get bored. It is already bad if one feels the need to hit the bottle, but growing one's own ingredient for "cookies" for self-entertainment (special cookies that I just learned about in another thread) would be something I definitely want to avoid.

But living in the center of a really big city is never my cup of tea. When visiting Manhattan, I thought to myself that they would need to pay me really big bucks to live there, leave alone for me having to pay more than $1M or $2M for a little condo.
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Old 12-05-2010, 03:17 PM   #131
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You know I will probably keep the internet. I was typing without thinking when I typed that one. How would I fix someones computer if I did not have internet The phone and TV I can do without. Someone please tell me what is on TV that is fit to watch anyway??
I made a promise to myself years ago that when I got older I would help people for nothing in return. I cannot stand to see young business people take advantage of older people. I also understand quite well there are also older people that will beat you out of things so I watch real careful who I am dealing with. Being self employed for 20 years in my early life taught me a lot about that.
I live in a rural area and could not even think about big city life. Things here move at a much slower pace and I like that.
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Old 12-05-2010, 04:04 PM   #132
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seems to me a phone is more than a luxury. how do people reach you, they must drive over. and what if you are injured and need help? i'd keep the phone too.

as far as tv to each his own. i never was a big tv watcher but there are some very good programs on however you'd need cable or satellite tv to get those channels. the crap on abc, cbs, nbc, fox entertainment and many of the cable/satellite channels is trash, that i'd agree with. however, history, discovery, national geographic, nat geo wild, animal planet, sometimes amc or tcm for movies, fnc for news, science channel, these are my favorites. the vast amount of interesting and informative and educational shows i watch on these channels are something i'd never give up. i've learned so many things i never would have had exposure to that i just can't understand how someone can say they would not be interested in this programming but then some are transfixed on sports and i'd rather drag my finger nails on a blackboard than watch that. to each his own.

2011 will be the year i live without a mortgage payment (paid it off this year) so by this time next year i'll really see what i live on. i may be surprised but i can't see me living on $20k and i lbmn, well below and i'm in a rural area but a very expensive part of the country.
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Old 12-05-2010, 04:21 PM   #133
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2011 will be the year i live without a mortgage payment (paid it off this year) so by this time next year i'll really see what i live on.
Same here. I was planning to have a budget of $800/mo or $9600/yr but I decided to keep it the same as it was this year: $1000/mo or $12000/yr. That will allow me to take a nice vacation to Florida and maybe up my entertainment spending a little. Without the Florida trip i'm sure I could stay under $10K/yr but i've earned that trip. It'll be the first real vacation in my adult life after about 12 years of full time work.
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Old 12-05-2010, 04:42 PM   #134
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You've sure earned that trip. Enjoy it. But be aware that leisure can be addictive.
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Old 12-05-2010, 04:52 PM   #135
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My only option at my shop would be a business phone because it was a business in the past. Way to much money to pay for something I could do without. Cell phone service is awful there so thats out. To many of my friends calling me and wasting my time is another reason. Sometimes people who are already retired call me because they are bored. That will soon stop.
At my home I might just put up an antenna. Like I said there is not much worth watching anyway. I can always pop in a DVD if I want to watch something. It will be free. I am tired of watching politics, problems around the world and in general anything that is negative. There is nothing I can do about any of those things anyway.
Heck, if I could write I could write a book on how to live in the US for $20,000 a year. It would not be something someone could do all of a sudden. It would take several years of planning. Everything would have to fall in place as planned.
My wife and I have saved for 40 years where we can do this. I have no doubt in my mind about it.
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Old 12-05-2010, 05:04 PM   #136
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You've sure earned that trip. Enjoy it. But be aware that leisure can be addictive.
I'm sure it is. If I continue to keep my current j*b, then I will likely escape to Florida for a week or 2 every winter from now on. I won't have enough time off to do much additional leisure.
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Old 12-07-2010, 01:04 AM   #137
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I sure would like to see a line item budget from some of you folks who live or are planning to live on $20K a year or under. Maxing out my retirement accounts the last couple of years has resulted in a spendable income approximately the same as my pension would be if I were already retired. It's over $30K/year and feels uncomfortably tight. I can only think of three things in my current budget that will be reduced or go away altogether after retirement—P & I on my mortgage, buying lunch at work and charity (I tithe, and 1/10 of my pension will be less than 1/10 of my salary). But even taking these decreases into account, I am still well above $20K, and that's not allowing for the fact that at least some of these decreases will be offset by increases in health insurance and some other costs.

I am not a huge spender, or at least I've never thought of myself as one. I don't wear designer clothes or drink lattes. I don't have cable TV, a cell phone, or an expensive hobby like golf. I don't commute long distance, dine out frequently, travel extensively, buy a new car every 3 years, or leave my windows open during the winter. In spite of all these abstemious habits, my bare-bones budget is between 1/4 and 1/3 more than you uber-frugal types say is ample for your needs.

How do you guys do it? What are you leaving out of your budget that I'm keeping in mine? Or is the extra 25-30% just the price I pay to live here in the NW?
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Old 12-07-2010, 01:10 AM   #138
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How do you guys do it? What are you leaving out of your budget that I'm keeping in mine? Or is the extra 25-30% just the price I pay to live here in the NW?
Bingo. The NW is about 20% to 30% higher cost of living than the cheapest places (like the deep south). Add to that the 10% you tithe (I worship at the house of me), and there you go.

But I don't think anyone feels that living on 20K a year wouldn't be tight...but it is probably doable in the right area, especially with subsiized health care.
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Old 12-07-2010, 01:19 AM   #139
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Bingo. The NW is about 20% to 30% higher cost of living than the cheapest places (like the deep south). Add to that the 10% you tithe (I worship at the house of me), and there you go.

But I don't think anyone feels that living on 20K a year wouldn't be tight...but it is probably doable in the right area, especially with subsiized health care.
Is living in an inexpensive part of the country pretty much the whole secret of the sub-$20K budget? Too bad for me if it is, because I don't know of anywhere else I'd want to live. If push comes to shove, I guess I am willing to pay extra to live in WA.
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Old 12-07-2010, 05:49 AM   #140
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I sure would like to see a line item budget from some of you folks who live or are planning to live on $20K a year or under.
2011 Annual expenses
property taxes: 75/mo
condo insurance: 12/mo
car reg./AAA: 13/mo
 
2011 budget
annual expenses:100/mo
electric: 100/mo
condo fee/maint,: 125/mo
cable/internet/phone:175/mo
Car-gas/maint/ins.: 125/mo
groceries: 225/mo
enter./misc.:150/mo

Total: 1000/mo

I will come in at just under $1000/mo average in 2010 even with paying a mortgage for half the year. I rounded up on many of these and will almost certainly come in under $1000/mo average even with a planned 2 1/2 week vacation to Florida in February.
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