Steelart99
Recycles dryer sheets
- Joined
- Apr 24, 2012
- Messages
- 184
I'd thrown in the residence more for an indicator of what I still owed to get this darn thing paid off. We love where we live and plan to stay here. I have a seperate plot of land worth about $100K that I'll sell at some point (I hope) to pay off the remaining mortgage when the remainder is about $100K. That I do consider as an asset. We'd love to not have a mortgage upon retiring (or shortly thereafter).
My post-retirement budget is coming in lower than our current expenditures, but not by a huge amount. I'd added in $5K per year as an emergency fund and about $800/month medical (total for DW and I). We've been fairly frugal other than all the gifts we give to our extended family for birthdays, X-mas, etc. One thing I just found out ... and I feel stupid ... is that SS and Medicare is not charged on withdraws from retirement accounts (This is right ... right?).
My side business was fairly established at one time, but has languished a bit over the last several years. Easily "revived" I believe. Something I enjoyed doing and made a fair income. I should get it moving again before I pull the trigger along with living on my reduced budget. All good points!!! I like the point you made ... what would I do if I had to further reduce my budget by 20-40%. Hmmmmmm .... gonna think on that one.
My post-retirement budget is coming in lower than our current expenditures, but not by a huge amount. I'd added in $5K per year as an emergency fund and about $800/month medical (total for DW and I). We've been fairly frugal other than all the gifts we give to our extended family for birthdays, X-mas, etc. One thing I just found out ... and I feel stupid ... is that SS and Medicare is not charged on withdraws from retirement accounts (This is right ... right?).
My side business was fairly established at one time, but has languished a bit over the last several years. Easily "revived" I believe. Something I enjoyed doing and made a fair income. I should get it moving again before I pull the trigger along with living on my reduced budget. All good points!!! I like the point you made ... what would I do if I had to further reduce my budget by 20-40%. Hmmmmmm .... gonna think on that one.