- Joined
- Apr 14, 2006
- Messages
- 23,225
The "And?" one? I saw it. I read it. It certainly did not get me.
Nope. The one before that, which you quoted.
The "And?" one? I saw it. I read it. It certainly did not get me.
I way overpay for internet. It just went up to $85/mo. I pay it because it is 95%+ of my entertainment.
Do you have any kind of inflation protected bonds there? We come out ahead with high inflation here in the U.S. because Social Security is adjusted for inflation and we have a lot of inflation adjusted bonds, plus a fixed mortgage and capped property taxes, so a big chunk or our expenses aren't impacted by inflation.
Nope. The one before that, which you quoted.
"Numbers is hard"
$40k is comfortable in small town in USA.
Well, in February something put a big wrench in our spending. DW found a new apartment complex right on the beach 3 miles from where she grew up.
The rent is $5K per month. The view is priceless.
I am 84, and she is 78, and we get $80K a year between SS and pensions, so we can afford it.
We lived in a +55 MHP, and it is like a ghost town. Here other than the ocean, we see cyclists, joggers, dog walkers, and all sorts of folks.
I haven't looked at them that much but they seem to be priced very cheap compared to "normal" housing areas. I'm guessing that is due to the more limited set of buyers.
I was spending around $36k (excluding taxes) in 2020-2021 before inflation took off. Probably spending around $40k now...
Well, spending more does buy some happiness. Up to a point.
For me, that point is below $200K/year (way below), unless inflation runs rampant.
$40k is comfortable in small town in USA.
If they’ve bought a huge house like in that picture they probably have no savings at all anyway.
Yeah some of those houses are huge. In some parts of the south you can buy much larger houses for the same money as here in New England for a house half that size if your lucky.If they’ve bought a huge house like in that picture they probably have no savings at all anyway.
Where I live, those are $5m homes.
And if I lived somewhere small-town ish there is still no way DH and I could do $40k per year and be happy. A single person without a condo and few hobbies, little travel, maybe.
I guess everyone is really scared of inflation now.
https://www.investopedia.com/millio...te-yahoo&utm_source=yahoo&utm_medium=referral
I have never spent that much in a year in my life. I will spend this year and I could have spent less. $40K/yr would be livin' large by my standards.
I hesitate to ascribe housing inflation to a single cause, but I think your point is correct. As for me, I mostly consider our house as the future buy-in to a CCRC. Prior to that, it is simply a cost center, not a source of income to finance retirement.I don’t find this (not having sufficient funds to retire) surprising at all. I am willing to bet the vast majority of the 26 million plus "millionaires" in America are millionaires because of basically one single asset: their home.
Indeed, I would go further to say a substantial majority of these millionaires probably could not afford to buy their own homes at current market.
Their wealth is FED induced housing inflation.
I hesitate to ascribe housing inflation to a single cause, but I think your point is correct. As for me, I mostly consider our house as the future buy-in to a CCRC. Prior to that, it is simply a cost center, not a source of income to finance retirement.
I have never spent that much in a year in my life. I will spend $12,XXX this year and I could have spent less. $40K/yr would be livin' large by my standards.
Good going. For us, our Medicare, Supplement and Part D, plus RE tax (averageish home) alone exceeds $12,XXX. That leaves nothing for food, clothing and other non-discretionary expenses. Not everyone can live that thrifty.
Of course, it's different for everyone. If you don't care about travel, have an inexpensive hobby, and live in a paid off house/condo then it's a lot easier to live comfortably on a lower income.
For example, compare the annual costs of owning a boat to owning an acoustic guitar.
Or, spending $30k+ a year on world travel as opposed to $5k for 2 or 3 months somewhere warm in winter.