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Re: Retire on 3k per month thoughts...
Old 04-25-2005, 08:57 AM   #81
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Re: Retire on 3k per month thoughts...

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Working so still have some commuting and clothing expenses and am probably spending $2500 a month. Living pretty high at times too with good lunches and restaurants in the evening on occasion. This December the pension will be $2200 if I go then. Should not make a lot of difference when compared to what I am spending now. Currently clearing $3400-$3500 month but not spending it. *Get most everything I want with no worries. *Just myself with big dog and small nervous cat. Caution third glass of wine post.

Somebody tell me to give notice for December *now

Bruce
Walked out when my take-home equalled my pension. At the time, I was paying close to 2k per month into it [ex-public sector employee] If you're spending 2500 a month, are you sure you want to get by on 300 less? You'll have more time on your hands and your spending might go up .... on the other hand your commuting / clothing costs will go way down

At any rate, don't give notice now .... it'll lower a layoff pkg if one is possible. [son just got 6 wks pay to leave a job he planned to give 2 wks notice to]
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 11:29 AM   #82
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Re: Retire on 3k per month thoughts...

Hey, I'm the dude that started this thread way back when, and had no
idea that it still existed...lets crank it back up and i will update you-all on whats happining...RJK
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 11:50 AM   #83
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Re: Retire on 3k per month thoughts...

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Originally Posted by rjk514
Hey, I'm the dude that started this thread way back when, and had no
idea that it still existed...lets crank it back up and i will update you-all on whats happining...RJK
Well I am going to be ER ing on Dec 22 with a 33 k pension with a cola and full medical bennies for both of us.

A very small mortgage which is paid thru 2008 already on a newly build home in the raleigh NC area, low taxes, low utilities no kids in the house grown and married, looks like I will do some part time teacing and coaching make another 1000 a month, looks very do able!!

Its nice to be 50 and telling the boss byebye!! It was also very nice to have been able to cash out of my big centerhall NJ colonial in the spring at well over 500K before the market hit the skids!

Nice to own 90+ % of my house I sleep much better!
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 12:37 PM   #84
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Re: Retire on 3k per month thoughts...

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Originally Posted by newguy888
...Its nice to be 50 and telling the boss byebye!! It was also very nice to have been able to cash out of my big centerhall NJ colonial in the spring at well over 500K before the market hit the skids!

Nice to own 90+ % of my house I sleep much better!
Congratulations on some sensible market timing.
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 03:06 PM   #85
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Re: Retire on 3k per month thoughts...

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i will update you-all on whats happining...RJK
OK, we are ready.
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 03:17 PM   #86
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Re: Retire on 3k per month thoughts...

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Originally Posted by rjk514
Hey, I'm the dude that started this thread way back when, and had no
idea that it still existed...lets crank it back up and i will update you-all on whats happining...RJK
Can't wait to hear the update.
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 03:23 PM   #87
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Re: Retire on 3k per month thoughts...

Al,
That is the funniest post on this board! Sometimes people have the ability to say what I'm thinking better than I ever could...


devo
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 03:54 PM   #88
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Re: Retire on 3k per month thoughts...

I think that wheather or not you can live on $36,000 a year depends on the following costs:

Your real estate taxes and insurance
Your utility bills
Medical insurance costs
Mortgage

Any combination of the above that are "out of sight" might make the buget a little difficult. My own example:

Taxes $7,600 yr.
Homeowners policy $3,600 yr.
Electric $4,800
Medical Insurance $6,000 yr.
Mortgage $15,000 a year.

That's over $36,000 just for those expences. Where can you live cheap today? I want to know. I think I'll start a thread on that one.
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Re: Retire on 100,000 a month for us>
Old 12-07-2006, 04:17 PM   #89
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Re: Retire on 100,000 a month for us>

Yes, I knew that would get your attention. That's 100,000.00 Baht. Wife and I plan to live off the same amount $3000.00 US but in Thailand. If I really knew SS would be there, which I'm sure will be we would retire now. But we are planning on it not and if it is that will be icing on the cake. Sold our house in Jan 2005, renting and enjoying life but saving as much as possible. I even ride my bicycle to work. I am 53 and plan to retire at 55.
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 04:23 PM   #90
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Re: Retire on 3k per month thoughts...

Quote:
Originally Posted by modhatter
I think that wheather or not you can live on $36,000 a year depends on the following costs:

Your real estate taxes and insurance
Your utility bills
Medical insurance costs
Mortgage

Any combination of the above that are "out of sight" might make the buget a little difficult. My own example:

Taxes $7,600 yr.
Homeowners policy $3,600 yr.
Electric $4,800
Medical Insurance $6,000 yr.
Mortgage $15,000 a year.

That's over $36,000 just for those expences. Where can you live cheap today? I want to know. I think I'll start a thread on that one.

Hummm lemmie see Taxes 3,300 yr
Homeowners/ Auto 1,900 yr
Electric/Gas 2,000 yr
Med Ins/ Dental Ins 1,200 yr real good policy
Mortgage 3,000 yr
11,400 total. kinda why I jumped at ER when I was able to get so much for my house
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 05:34 PM   #91
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Re: Retire on 3k per month thoughts...

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Al,
That is the funniest post on this board! Sometimes people have the ability to say what I'm thinking better than I ever could...


devo
Thanks but it was only kind of a joke. Just letting RJK know I'm interested in the update, always like to hear how reality compares with predictions.
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 08:17 PM   #92
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Re: Retire on 3k per month thoughts...

I've really enjoyed this post! Glad it was revived.

Ya'll are Great, when it comes to giving straightforward and helpful answers, to questions and concerns.

Right now, If, I told DW, she could quit her 70k, per year job and we'd live on 3k, per month,---------She'd have me put in the funny farm!!! Of course, she's Not entirely
pleased, that I retired two years ago and left her holding the bag as far as paying the bills, etc. But, I provide Home Security and I always leave the light on, when she comes home.

It is a strain on her, even tho I feel we have the assets to survive comfortably. We're concerned about medical costs; we may buy a newer home and relocate out of state. We are considering!
My mortgage payment, would likely more than double. That's a given fact!

A lot of stuff, to consider. Yup!

Thanks for listening and you people are GREAT!!
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Re: Retire on 3k per month thoughts...
Old 12-07-2006, 08:51 PM   #93
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Re: Retire on 3k per month thoughts...

Quote:
Originally Posted by modhatter
I think that wheather or not you can live on $36,000 a year depends on the following costs:

Taxes $7,600 yr.
Homeowners policy $3,600 yr.
Electric $4,800
Medical Insurance $6,000 yr.
Mortgage $15,000 a year.
We live in South Carolina and I am happily NOT retired (well actually retired from Megacorp job but now teaching at a Christian college).

Taxes $1400 per year (due to go down to an estimated $800 next year due to statewide property tax reduction) for $200,000 house
Homeowners Policy $400 per year
Electric/Gas $2500 per year
Medical Insurance $600 per year (Megacorp high deductible retirement medical)
Mortgage $0 per year (haven't a mortgage for 15 years)
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Re: Retire on 3k per month thoughts...
Old 12-08-2006, 09:00 AM   #94
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Re: Retire on 3k per month thoughts...

Greetings folks, working on a full update as to status, but will not have
final data till Dec.31, so my bride and I can figure out exactly what we
spent for 2006...Be aware we have no debt, and we will know exactly,
(within a grand,) I guess thats not exactly, but close enough, as to what
we lived on. Had two good vacations, Myrtle Beach in Feb., and Phoenix
in Nov., each for 2 weeks...We are frugal while on vacations, but when
its time to party we don't pull any punches if you know what I mean... :P
Later---RJK
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Re: Retire on 3k per month thoughts...
Old 12-08-2006, 10:02 AM   #95
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Re: Retire on 3k per month thoughts...

in British Columbia

Real Estate taxes about $900/year on $200,000 assessment (but will go down at age 65, although assessment will likely go up)
Homeowner's policy about $800/year
electric about $700/year
medical insurance about $1200/year for 2. With supplemental dental, vision & audio, about $2,400/year. includes payment to BC med.
mortgage none

all values in $CD

$3,000/month is a piece of cake.
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Re: Retire on 3k per month thoughts...
Old 12-08-2006, 10:45 AM   #96
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Re: Retire on 3k per month thoughts...

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After he took over as commander of all the Union armies they suffered a defeat (forget what battle).
The battle of The Wilderness, if I remember correctly?
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Re: Retire on 3k per month thoughts...
Old 12-08-2006, 10:54 AM   #97
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Re: Retire on 3k per month thoughts...

Quote:
Originally Posted by bosco
in British Columbia

Real Estate taxes about $900/year on $200,000 assessment (but will go down at age 65, although assessment will likely go up)
Homeowner's policy about $800/year
electric about $700/year
medical insurance about $1200/year for 2. With supplemental dental, vision & audio, about $2,400/year. includes payment to BC med.
mortgage none

all values in $CD

$3,000/month is a piece of cake.
I agree. It's a piece of cake, but only because of the extremely reasonable medical insurance. This is one aspect in which Canada is so much better than the US, to me at least.
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Re: Retire on 3k per month thoughts...
Old 12-08-2006, 11:34 AM   #98
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Re: Retire on 3k per month thoughts...

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Originally Posted by Sundance Kid
Of course, she's Not entirely pleased, that I retired two years ago and left her holding the bag as far as paying the bills, etc. But, I provide Home Security and I always leave the light on, when she comes home.
Thanks Sundance, for pointing out another one of the services I provide for my still-working wife.

Exactly how much do you figure it would cost a couple to hire a fulltime security service to keep an eye on the place? How about one that does dishes and vacuums a bit?

Cb
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Re: Retire on 3k per month thoughts...
Old 12-08-2006, 12:01 PM   #99
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Re: Retire on 3k per month thoughts...

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Originally Posted by Sam
I agree. It's a piece of cake, but only because of the extremely reasonable medical insurance. This is one aspect in which Canada is so much better than the US, to me at least.
Canadian friends that I ride with agree that routine medical care is great. However, if you need a major or expensive procedure they complain of the long wait. They joke of dying while waiting for my "free" healthcare. Those Canadians that have extra $$ come to the US for these procedures if the wait is too long.
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Re: Retire on 3k per month thoughts...
Old 12-08-2006, 12:29 PM   #100
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Re: Retire on 3k per month thoughts...

My base budget is around $2.1k/month. Does not include food, booze, mad money, cause I'm too lazy to track them...

Also, does not include investments.

HI is employer provided...
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