Quote:
Originally Posted by OrangeBlossomBaby
At some point, you will no longer be capable of mowing your own lawn. But the lawn will still require mowing. You'll have to pay someone to do it. If your social security doesn't rise enough to cover the increase in your health insurance, AND general inflation on goods and services, AND the increase in amenity fees, AND the increase in taxes - then you'll be hurting.
Social security is considered a fixed income, even though it goes up a few percentage points every year or two. Your costs for living, generally go up more than a few percentage points every year or two.
Eventually, your fixed income will cease to be enough to support your costs for living. If one of you outlives the other, you'll end up with less to live on. Even pensions don't transfer 100% to a spouse, it's always a reduced amount. If you're struggling now, good luck affording it later.
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My post was answering the OP, can you live in TV on just SS, and my answer was if one is living on SS elsewhere, TV shouldn’t be much difference in TV.
Between properties in TV and our homes up north, I can still bank large % of income every month. No pensions, All our retirement investments were self contributions. So spouse dies still good. My health care cost is Medicare B, my second coverage is free to me, I have zero out of pocket for anything. So no worries there. Home care will eventually be covered if needed
Lawn, considering it’s 21 minutes to mow, edge, and occasional weed, our lawn. We do have family that has 13 crew landscaping company, but I choose not to have free lawn care, but free landscaping is always an option.
Some actually plan well for retirement, and don’t sit and worry on a daily basis is cost goes up. Just make some changes all is good