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Old 06-29-2022, 10:31 AM   #101
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That's pretty much the story for me except that I had to also pay for the funerals.
Same for me and DH. We have had what we call "negative inheritances." That means we have not inherited a penny but we have had to pay out thousands for funerals.
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Old 06-29-2022, 01:54 PM   #102
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No inheritance for me either because my parents sold their house and lived in a apartment for 25 years. It was a good choice for them. Once my dad died my mom’s income was cut quite a bit. We told her to travel and enjoy her money. She lived just short of 90 and had all her funeral expenses paid. She told us to sell her car and take everyone that came to a nice restaurant and buy their lunch). My parents were very proud and wouldn’t have expected anyone to pay for their funeral. My mom in particular would have been horrified at the thought.

A good friend of mine had 2 inheritances that were left by her mom and a uncle. Sadly the money wasn’t split evenly and none of the 4 siblings now talk to one another.
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Old 06-29-2022, 03:13 PM   #103
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It was my understanding that you qualify for free part A if you OR your spouse have enough work credits. I think it would be very few married couples where both did not have enough work credits.
You also have to be married for at least 10 years.

But even more importantly, the thread referenced was referring to some single people (who had never been married) that had way less than 40 quarters of earning credits and therefore not eligible for social security benefits or premium free Medicare Part A. There's a significant percentage of retirees that are not married.
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Old 06-29-2022, 03:37 PM   #104
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The unfortunate reality is that sooner than he probably realizes he will no longer be able to do that type of work.
Yeah, in fact, he is pretty slow moving when he takes walks around the neighborhood, just waddling along. His wife can still walk at a good clip, and I've seen her mow occasionally.

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My in-laws have lived in their small ranch home since the mid-1960s, but he has slowed down physically to the point that she has to do most of the work (both inside and outside) now.
That might be the case with my neighbors, although they do well enough they can hire it done, which they actually already do when they head up to their vacation home for a couple months of the summer.

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Sometimes it's all you gots.

She had drained the last of her IRA account shortly before I took over her finances roughly a year before the terminal cancer claimed her.
Well, at least she had the IRA as well until the final year. I know some people that don't qualify for social security or premium free Medicare at all.
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Old 06-30-2022, 04:10 AM   #105
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I think the benefit of reading the thoughts on ERE is you can possibly redefine what amount of spending is "ridiculous". I used to think $7k/year was ridiculous. I don't think it's for me, but I also don't think it's ridiculous anymore. I would have also thought spending $14k/mo was ridiculous before listening to some other voices. Now, while I don't think it's for me I also don't think it's ridiculous (or fancy) anymore.

Seeing the extremes in a different light helps us reduce the effect of "of COURSE!" thinking. We all get to define that for ourselves, but I think it's helpful that we're open to redefining it too.

Silly little example: Jacob recommends buying used older high quality furniture on Craigslist because if you ever need to sell it you'll likely get what you bought if for. I'd never thought of that! Right now, I have my coffee on a small "poolside table" I got from my friend from his parents house when they moved. I could have easily bought a fancy $10k table to do the job, but I actually love this table and where it came from. I call it my "Sweeney Heirloom", named after him. I think of it as one of the fanciest things I own!
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So you spend $170,000 per year? Is it mainly on travel?
In the last 5 years, we have been remodeling the house, and also just replaced the car. With those expenses over, our spending will be around $11K/mo going forward, of which the first $2K goes to taxes and medical insurance. Our biggest budget area is travel where we are lavish at $3.5K/mo including cruises and international trips. If we didn't have the income, we would simply not travel as much and do it much more cheaply.

We have occasionally bought used items and sold them at break even. We can live on less if needed, but at present will also BTD when we can.
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Old 06-30-2022, 08:42 AM   #106
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Curious if anyone here previously, currently, or in the future plans to use the ERE (Early Retirement Extreme) philosophy/principles/guidelines as discussed here: http://earlyretirementextreme.com? I can't image living off $7,000 a year but I do recognize that I could cut out a lot of things if I had too.
I wonder if Ted Kaczynski would have qualified as ERE. This is a brief photo-display of his life style. YMMV

https://helenair.com/photos-a-look-i...f0b8858.html#1
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Old 06-30-2022, 09:11 AM   #107
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This is not the guy you want to live next door, but he was living a very low-cost lifestyle until he was discovered by a hiker. Link is to the news story.

https://www.usatoday.com/story/news/...on/2043419001/
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Old 06-30-2022, 09:32 AM   #108
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This is not the guy you want to live next door, but he was living a very low-cost lifestyle until he was discovered by a hiker. Link is to the news story.

https://www.usatoday.com/story/news/...on/2043419001/
If the guy had been wanted for simple possession or even tax evasion, his story would border on being "cool." He was obviously resourceful and clever. Too bad he was such a slime (allegedly.) I wonder why he didn't go someplace far away to disappear. Maybe he missed his mama! YMMV
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Old 06-30-2022, 03:56 PM   #109
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This is not the guy you want to live next door, but he was living a very low-cost lifestyle until he was discovered by a hiker. Link is to the news story.

https://www.usatoday.com/story/news/...on/2043419001/

I remember a news story some years back about the guy hiding out in an underground bunker. I think that's the same one I remember.
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Old 07-01-2022, 09:52 AM   #110
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This is not the guy you want to live next door, but he was living a very low-cost lifestyle until he was discovered by a hiker. Link is to the news story.

https://www.usatoday.com/story/news/...on/2043419001/
Low cost, maybe, but that is not my Dream Home by any stretch of the imagination! I'd rather be honest and law abiding so I can live in a home that brings me joy every single day.
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Old 07-01-2022, 10:43 AM   #111
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Well, when one's choice of housing is between a jail cell and a cave, obviously his ER lifestyle will be less than idyllic.

Our young friend Jacob Fisker is not faced with such harsh options.
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Old 07-01-2022, 03:43 PM   #112
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I like to think I’m frugal, but NO, I’m not like bing on 7k a year. I’ve worked too hard for that…
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Old 07-01-2022, 04:45 PM   #113
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Well, when one's choice of housing is between a jail cell and a cave, obviously his ER lifestyle will be less than idyllic.

Our young friend Jacob Fisker is not faced with such harsh options.
There was an old Twilight Zone where a guy embezzled $20k, immediately admitted it but wouldn't say where the money was. The judge gave him 20 years. The last scene, he's on a luxury cruise ship and someone asked how he became a millionaire. " Do you know what 20 thousand dollars with interest compounding over 20 years amounts to?" (1950s money) He had lived in a "gated community" all that time with the government picking up the bill!
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Same
Old 07-01-2022, 05:09 PM   #114
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Same

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My wife and I have a fairly high NW yet I mow my own lawn, clean my own house, repair everything I can (thanks to YouTube), etc. but not sure I could live that extreme.
Same situation. Before the temps go too hot here in TN in the spring, was able to do a ton of chores and repairs outside (e.g. pressure washing a 300' driveway, installing new outdoor light fixtures and lines, etc). With the heat limiting me to using the rideon mower to do the lawn and other tasks, I have moved the chores indoors. We have a large one story home with three different floor surfaces - hardwood, carpeting, and tile. All have some degree of squeeking which I hate. Will take care of each in turn with the right hardware and tools I have starting with the carpeted floors inside the house, and moving to the crawlspace to do the other two from below. Hate to pay someone else to do things I can do myself.
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Old 07-02-2022, 08:21 AM   #115
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There was an old Twilight Zone where a guy embezzled $20k, immediately admitted it but wouldn't say where the money was. The judge gave him 20 years. The last scene, he's on a luxury cruise ship and someone asked how he became a millionaire. " Do you know what 20 thousand dollars with interest compounding over 20 years amounts to?" (1950s money) He had lived in a "gated community" all that time with the government picking up the bill!
Amusing TZ story, but at 10% annual "interest", that $20k grows to just $135k over 20 years...
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Old 07-02-2022, 08:43 AM   #116
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I just happened to figure up my living expenses for the last 6 months this morning before I saw this thread. My living expenses for the 1st half of this year was $7271.49. That includes taxes. I paid $21 in taxes this year. I have been paying $0 in taxes the last few years. Of the $7271.49, $4230 of that was rent. And I am not a cord cutter. My rent is going up $20 a month next month. My spending usually is a few hundred more the 2nd half of the year then the 1st half so I should still come in under 15k for the year unless something unexpected happens. 15k was my goal when I retired.

I retired April 3,2017 at 51 with 625k. Now I'm at a million. I live the same way I always have, very happily. I have everything I want or need.
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Old 07-02-2022, 09:19 AM   #117
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I have spent around $6K in the first half of the year so I guess I can't get by on $7K/yr but I spend less than most and will continue to do so so I can FIRE by mid 50's.
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Old 07-02-2022, 09:26 AM   #118
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I have spent around $6K in the first half of the year so I guess I can't get by on $7K/yr but I spend less than most and will continue to do so so I can FIRE by mid 50's.

Living below your means and investing for the future… That is one of the best ways to FIRE!
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Old 07-02-2022, 10:19 AM   #119
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Be careful about liability with your neighbors.

It pays to be active in retirement. Mowing and things like that are good for you.
I have a 2 acre property and a riding mower with a 48 inch deck. It even has a cup holder, so not sure what kind of exercise it is. Used to mow a 3 acre property with a self propelled walk behind and that was good for 11,000 steps a day! But it took all day!
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Old 07-02-2022, 10:25 AM   #120
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I like to think I’m frugal, but NO, I’m not like bing on 7k a year. I’ve worked too hard for that…
"Frugal" is a relative term. There are people on here who claim to be frugal while spending more per year than I have ever grossed in a year in my life. I guess if you are spending well below your income then you are frugal even if you are spending more than the average person.
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