FILL IN THE BLANKS.....if your not yet ER'ed

[haha]

Different things for different points in life.

But this is summer. Winter at the farm is not so appealing.

When I lived out in the country I knew a lot of older couples or widowers who liked it just fine- gardening, church, quiet, nature, relative freedom from bumping up against other people. I often marveled at the old men who lived very solitary lives, yet did not appear to drink much, or really do much at all beyond keeping a very tidy homestead.

There may be an innate setting for stimulation need. Events that might annoy some can be welcome to others, just because they represent "something going on" beyond birds singing and crickets chirping.

For me in particular, when my family grew up my remaining time in bucolia was starting to tick down. Even if wifey had hung around, it would not have been enough. (For me or her.)

Ha

 

[Marquette]

1. $40-60k. (it's what we live on now)

2. $don't care. where: probably west side of Michigan. Acreage is important, house will fall in place. Don't care what someone thinks it's worth. That area is fairly close to immediate and extended family.

3. Will probably get a 23' Airstream Safari International.

 

[nicolette]

You know, I think your survey is actually quite helpful. I have been reading here for a long time, and I don't think that this has been directly approached in this way before. My data is $50-$55,000, and renting, or perhaps a bit less spending and owning at max of $280,000 in large West Coast US City. I spend less than that now, but believe I might safely spend up to $55K when SS starts.

But your "I do not want to hear any discouraging ideas" is just a statement that you do not want to learn anything, but rather only gratify your confirmation bias. This is a good way to stay content, but also ignorant of a wider range of possibilities.

Ha

Hi Ha....you have a good point. Okay, if any of you wish to provide any discouraging ideas, please do so. It's just that we've really thought about what we want and given that ER is SO ENTICING, we don't want to stray away from our goals and wishes. So for now, the goals and wishes remain the same.

 

[Moemg]

1) 65,000 -70,000

2) &3) I've been playing around with several different scenarios but for now until the real estate market picks up Sarasota,Fl. is home . Worth of home ? Who knows right know ? It was at a high of $850,000- $ 900,000 now it's probably in the $650,000 range .

 

[Meadbh]

Hi, nicolette.

I think that for some (many?) of us, having "a lifestyle similar to when you're working" is not all that appealing. I know that personally, my location is mainly due to the fact that the job is here; many years ago I came here for the job, in other words.

Retirement gives us choices and options that we didn't have before.

Exactly! Some of us want a BETTER lifestyle in ER! And that's why we're breaking our backs now to get there!

 

[unclemick]

1. 25k unfortunately more like 34k with mortgage, taxes and insurance plus a few thou layed off for reserve repairs.

Cheap bastardhood the first 10 years or so of ER says I need to force myself to at least double or triple that amount to avoid leaving too much on the table.

2. 85k 1100 sq ft 1970 suburban house north of Kansas City - 3 bedroom, one bath - amazingly people raised whole families in these back then.

3. May toss up a Jim Walter or put a trailer/mobile on my twenty acres of timberland - north of Gulfport, MS - 15 -30minutes to beaches/casino's.

At 15th year of ER - precise plan to party til I puke on 87.1 k until age 84.6 and croak(I have a funeral plan).

Accuracy is another story. I have no idea wait inflation will do to mead, flaming arrows and wooden boats in 19.6 years.

heh heh heh - it's a good bet I won't be w*rking though.

 

[nicolette]

Exactly! Some of us want a BETTER lifestyle in ER! And that's why we're breaking our backs now to get there!

Hi Meadbh - with the realization that we are definitely city folks, for us, a BETTER lifestyle is being in the city. Being in the country doesn't suit our interests, wishes and wants.....it just suits the financial situation. We've learned that we need to be happy and lifestyle is definitely important.

Hi Martha - wow, I agree... drastic lifestyle change, but I'm glad your happy. For us, we'd go stir crazy. For you, perhaps your career was so stressful, you needed to go country. You're right, your goals and wishes depend on where you are in life.

 

[FIREd]

Welcome Nicolette!

1) 65K (30-35K for bills, the rest for fun). That's the amount we live on right now.
2) a 200-300K house in the south (AL, TN or NC)
3) a condo in Europe (300K, probably inherited). We might live half year here, half year in Europe.

 

[Khan]

Short and simple....
What are your Lifestyle and Financial GOALS in order to reach FIRED (in today's dollar)?

1. I (We) wish to have $______/yr after tax to live on to support my (our) lifestyle in retirement.

AND

2. I (We) want to live in a primary residence worth __________, preferably in the city, town, of ____________.

for those who want more:
3. I (We) want to live in a secondary residence worth _________, preferably in the city, town of ____________.

To start, me (us) :

1. $75K - 100K/yr
2. $1M - 1.5M, Vancouver, BC Canada
3. $500K - 750K, Southern California (in the winter)

No discouraging comments please.....just want to hear your FIRE LIFESTYLE WISHES and GOALS.

Already retired:
1) 'income' less than $35K USD
spend ~$25K (except bought a car in '07)

2) live near Dayton OH in a house assessed at ~$65K

3) H### no

 

[SecondCor521]

Just me, no we.

1. $13K
2. $230K in Boise, Idaho
3. NA

2Cor521

 

[Alan]

Hi Meadbh - with the realization that we are definitely city folks, for us, a BETTER lifestyle is being in the city. Being in the country doesn't suit our interests, wishes and wants.....it just suits the financial situation. We've learned that we need to be happy and lifestyle is definitely important.

Hi Martha - wow, I agree... drastic lifestyle change, but I'm glad your happy. For us, we'd go stir crazy. For you, perhaps your career was so stressful, you needed to go country. You're right, your goals and wishes depend on where you are in life.

Hi Nicolette, welcome to the forum. It sounds like you have a good idea of what you want to do in retirement plus it is something that you are very familiar with and that is great. As you can see from my earlier reply I too have a large expense target as we plan to live in a place that has most everything we need plus we plan to travel a lot while we are still fit.

But, over the last 30 years our lives and lifestyle have taken several different turns so we expect that our plans may change with experience and unforseen events.

 

[explanade]

1. $50-60k

2/3. Currently live in Bay Area, in townhouse appraised at $700k.

Looked at how cheap places like Vegas and Phoenix are, not just housing but all taxes.

The heat and culture puts me off.

One idea would be to take more trips to Europe or figure out way to do extended stay.

 

[Alan]

One idea would be to take more trips to Europe or figure out way to do extended stay.

Furnished rental houses are plentiful and very affordable in Europe. this is what we plan to do.

 

[explanade]

Furnished rental houses are plentiful and very affordable in Europe. this is what we plan to do.

They were more affordable when the exchange rate was better.

I've only rented apartments for weeks at a time, usually in big cities, in areas usually in demand.

Are you talking about farm houses in rural areas?

 

[Alan]

They were more affordable when the exchange rate was better.

I've only rented apartments for weeks at a time, usually in big cities, in areas usually in demand.

Are you talking about farm houses in rural areas?

Rural areas, not necessarily farm houses. This year we went to the Basque region of Spain 30 miles from Pamplona. Large house in a village of about 20 houses, 1/2 mile from a larger village (easy walk) with shop, pub/restaurant etc.

There were plenty of others available. The region is very popular in the winter as it is skiing country (foothills of Pyrenees (sp?) so the summer months are cheaper.

 

[Gumby]

I am in agreement with those who don't want to retire to a life of penury. We plan for $100k per year after tax, which is about 5% more than what we spend now. Our mortgage will be coterminous with our retirement, so the $17k currently going to P&I will be redirected to vacation and health care. I expect that cola'd pensions will provide about 40% of our income needs. Our plan does not count on receiving any social security.

The value of the house is largely irrelevant to our plans (except for the effect it has on real property taxes (currently $8600 per year)), because we do not expect to move. We have spent years getting this place to our liking, and we also enjoy the area (on the Connecticut shore of Long Island Sound). Of course, part of our emergency backup plan would be a reverse mortgage.

I can't see putting up with the burden of a second house. Our current one is all we need.

 

[Goonie]

Already FIRE'd...
1) household income (after taxes) is around $45K-55K per year.....necessities eat up about $25K....outlay for travel & riotous living is about $15K-20K per year (that also includes hobbies, widgets, & whatchamacallits)

2)Homestead was built for probably less than $1000-2000 in early 1900's. Was purchase by paternal Grandfolks from maternal Grandfolks for about $4000. Paternal Grandfolks sold it to my Dad for $9000 in late 1950's. It's now my place by default (siblings got outta Dodge and have NO intentions of ever returning to the scene of the crime). Current value (if I wanted to sell AND if someone wanted to buy) is in the neighborhood of $125,000 to $150,000 (based on current prices for similar houses in similar 'hoods here in town)
.

Yes, now that I am retired I am finding it much more fun to go out to the old farm, with the nearest town having a population of about 200, than spending time in the big city. I don't seem to have as much of a need to be entertained by eating out, concerts, etc, as I did when working.......

I really like it out here in the boonies, even if our town is almost too big for my taste....pop. ~20K. There's a little town (actually a "Village" with a pop. of ~1200 people) a very short drive away that I go to dine in one of their many [-]eating joints[/-] fine restaurants, and where I belong to a garden club. Like Martha, I have no real need or desire to be entertained. I go to local public concerts, farmers' markets, a few activities at the local public library, eat out once in a while (not often), and hit the coffee shop 2-3 times a week. Other than that, I PREFER to hang around the old homestead and enjoy the flora, fauna, and the occasional visit over the fence with the neighbors.

When I lived out in the country I knew a lot of older couples or widowers who liked it just fine- gardening, church, quiet, nature, relative freedom from bumping up against other people. I often marveled at the old men who lived very solitary lives, yet did not appear to drink much, or really do much at all beyond keeping a very tidy homestead.

There may be an innate setting for stimulation need. Events that might annoy some can be welcome to others, just because they represent "something going on" beyond birds singing and crickets chirping.

Hey! I resemble those remarks! Gardening, quiet, nature, freedom from jostling & being jostled, relish solitude, 'tea-totaller' (mostly), love the sounds of birds singing and crickets chirping.....and tree frogs after the rain! Like Mr. Douglas on 'Green Acres'......"...land spreading out so far and wide, take Manhattan and give me that countryside!"

That said...I do enjoy an occasional trip to Chicago or some other Big City.....but I certainly have NO desire to stay there! And actually, I really love Manhattan...used to go there several times a year.

 

[lazygood4nothinbum]

i'm an i not a we, raised by parents who spent lots on themselves and lots on me which you would think would have spoiled me but more likely just tired me out. currently living in expensive, money grubbing, finance flaunting south florida where i've resided to be with family who have since all but died off, leaving me to fend for myself, stuck in paradise, i look forward to market conditions improving so i might escape to a less demanding life.

i've great restaurants and decent entertainment and i'm blocks away from one of the great gay epicenters of the world, but i prefer home cooking and now that i've turned 50 the only heads i turn just turn away, so it makes no sense to be living in an area where i have to pay a premium to be rejected. from what i've been studying on these pages and others, it seems elsewhere there's more to life, and it costs a lot less.

to the numbers
1) $3k/month or less before ss & pension seems to comfortably pay for what i want in my life now and what i project for the next 15 years or so. also that should allow the portfolio to grow just in case $3k/month doesn't quite do it later in life.
2) i'm not sure i want to own anymore. i might just want to vagabond it while i'm young enough & healthy enough to live an adventurous life on the fly.
3) i couldn't even imagine owning two of what i'm not sure i want to own one of. but if by second home you mean a place you own for residing which is in a completely different place than another place where you own a place to reside, then i have been considering living in a boat which i guess would be a 1st & 2nd home depending on where you lay anchor each season. i would expect to pay between $100-200k for a bluewater capable vessel between 34-40 ft were i to settle in, yet travel on, that route.

 

[Rustward]

1. We think it's going to take 75k+ to reach current lifestyle and add healthcare insurance and related costs to it. Padding a little, the number might be closer to 85k if we can get comfortable with the idea of defrugalizing a little. Some have said that it is easier to be content on less, so this could be way off.

2. Worth of the residence does not matter as long as it is comfortable. We may want to get away from the city, though. The get-away is probably at least 15 years out.

3. Never considered a second place.

Have heard the stages (Go Go, Slow Go, and No Go) so I would expect the number in answer 1 to increase a little over time, decrease after that, then possibly increase if we live a long time or encounter major health issues.

 

[Dawg52]

Just me, no we.

1. $13K
2. $230K in Boise, Idaho
3. NA

2Cor521

13k? That's amazing. You must truly live off the fat of the land.

 

[FANOFJESUS]

13k? That's amazing. You must truly live off the fat of the land.

You would be surprised what you can do with no debt. The two of us live off of 25k.

 

[REWahoo]

You would be surprised what you can do with no debt. The two of us live off of 25k.

You must have some very low cost health insurance coverage...

 

[Meadbh]

Why I expect to spend more in retirement:

Ring Ring!!!
Friend: Wanna play golf on Saturday?
Meadbh: Uhhh, sorry, I'm on call.
Friend: Well, how about that concert on Wednesday 7th?
Meadbh: I'm out of town at a conference.
Friend: We're taking the boat out on the lake Sunday. How about it?
Meadbh: No can do. Must stay within 20 minutes of the hospital.
Friend: Well, can you come over Friday night? We're BBQing.
Meadbh: Sure! Can I bring my beeper?
Friend: Great, see you then!
Click!

 

[Notmuchlonger]

Ring Ring!!!
Friend: Wanna play golf on Saturday?
Meadbh: Uhhh, sorry, I'm on call.
Friend: Well, how about that concert on Wednesday 7th?
Meadbh: I'm out of town at a conference.
Friend: We're taking the boat out on the lake Sunday. How about it?
Meadbh: No can do. Must stay within 20 minutes of the hospital.
Friend: Well, can you come over Friday night? We're BBQing.
Meadbh: Sure! Can I bring my beeper?
Friend: Great, see you then!
Click!

Ya we get those moments. I put a bottle of wine on the table. Wife goes um Im on call..Oh well theres tomorrow Or my usual "bah they wont call you in tonight!"

 

[Rich_by_the_Bay]

Ring Ring!!!
Friend: Wanna play golf on Saturday?
Meadbh: Uhhh, sorry, I'm on call.
Friend: Well, how about that concert on Wednesday 7th?
Meadbh: I'm out of town at a conference.
Friend: We're taking the boat out on the lake Sunday. How about it?
Meadbh: No can do. Must stay within 20 minutes of the hospital.
Friend: Well, can you come over Friday night? We're BBQing.
Meadbh: Sure! Can I bring my beeper?
Friend: Great, see you then!
Click!

Ring ring!!!
Meadbh: "Hello"
Rich: "FIRE"
Meadbh: "I'll get back to you on that"
Rich: "I think I'm pulling into the lead..." (then again, I'm older...)