Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   Nuts and bolts of The Villages (https://www.talkofthevillages.com/forums/nuts-bolts-villages-139/)
-   -   #29 Florida (https://www.talkofthevillages.com/forums/nuts-bolts-villages-139/29-florida-281743/)

Badminton 01-08-2019 12:09 PM
#29 Florida
 
What do you think Guys ?
Can You be comfortable in The Villages at $48,305 a year?

29. Florida

A comfortable retirement costs: $48,305 a year

Although Florida isn’t among the states where a comfortable retirement costs the least, it’s one of seven states with no income tax — which means residents can hang onto more of their money. One of the best cities for retirement in this income-tax-free state is Tampa, according to another GOBankingRates study. It’s one of the top U.S. cities where your retirement nest egg stretches furthest.

bandsdavis 01-08-2019 08:46 PM
Quote:
Originally Posted by Badminton (Post 1614367)
What do you think Guys ?
Can You be comfortable in The Villages at $48,305 a year?

29. Florida

A comfortable retirement costs: $48,305 a year

Although Florida isn’t among the states where a comfortable retirement costs the least, it’s one of seven states with no income tax — which means residents can hang onto more of their money. One of the best cities for retirement in this income-tax-free state is Tampa, according to another GOBankingRates study. It’s one of the top U.S. cities where your retirement nest egg stretches furthest.
Without even trying, I can think of about a dozen "Depends on...." responses to this question.

thetruth 01-17-2019 10:17 AM
What is your point
 
Quote:
Originally Posted by Badminton (Post 1614367)
What do you think Guys ?
Can You be comfortable in The Villages at $48,305 a year?

29. Florida

A comfortable retirement costs: $48,305 a year

Although Florida isn’t among the states where a comfortable retirement costs the least, it’s one of seven states with no income tax — which means residents can hang onto more of their money. One of the best cities for retirement in this income-tax-free state is Tampa, according to another GOBankingRates study. It’s one of the top U.S. cities where your retirement nest egg stretches furthest.
There are plenty of guides that suggest how to budget your money.

As to your chosen number do not forget INFLATION. Our government tells us their target is 2%. First of all those numbers are always wrong and our government has never held their reported inflation to 2% for an extended period of time.

Using the government goal at 2% inflation, in roughly 36 years, you will need $2.00 to buy what a $1.00 buys today.

Long term plan? The government is constantly changing the rules of the game. We ex-New Yorkers, escaped a 6% New York State Tax, a 3% New York City Tax, real estate taxes on a home that was 1200 sq ft at 10,000 and even our auto insurance has dropped to 1/3 of what we were forced to pay in NY with a clean driving record. On our larger sq foot than our NY home our
electric bill is about equal to what our heating (gas) was.

POINT-IT IS FAR CHEAPER HERE.

Chi-Town 01-17-2019 10:28 AM
Florida has no state income tax and living is cheaper here than a lot of other parts of the county. But comfortable at 48k a year? That's a stretch. Add 20k and go from there.

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gatorbill1 01-17-2019 11:15 AM
Quote:
Originally Posted by Badminton (Post 1614367)
What do you think Guys ?
Can You be comfortable in The Villages at $48,305 a year?

29. Florida

A comfortable retirement costs: $48,305 a year

Although Florida isn’t among the states where a comfortable retirement costs the least, it’s one of seven states with no income tax — which means residents can hang onto more of their money. One of the best cities for retirement in this income-tax-free state is Tampa, according to another GOBankingRates study. It’s one of the top U.S. cities where your retirement nest egg stretches furthest.
No problem - if you watch your expenses you can still live a comfortable lifestyle.
A big mortgage would be a problem, but most people here do not have a mortgage, or have a very small one. You do not need an expensive home to enjoy all the amenities in TV.

Fraugoofy 01-17-2019 08:42 PM
Quote:
Originally Posted by Badminton (Post 1614367)
What do you think Guys ?

Can You be comfortable in The Villages at $48,305 a year?



29. Florida



A comfortable retirement costs: $48,305 a year



Although Florida isn’t among the states where a comfortable retirement costs the least, it’s one of seven states with no income tax — which means residents can hang onto more of their money. One of the best cities for retirement in this income-tax-free state is Tampa, according to another GOBankingRates study. It’s one of the top U.S. cities where your retirement nest egg stretches furthest.
Define comfortable. Do you eat out a lot? Do you drink high end booze? Do you travel? Do you have any credit card debt or a car payment? Everyone's definition of comfortable depends on all added expenses and spending habits. I live on less than 38k a year and do more than most people I know...

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CFrance 01-17-2019 09:19 PM
Quote:
Originally Posted by Fraugoofy (Post 1616890)
Define comfortable. Do you eat out a lot? Do you drink high end booze? Do you travel? Do you have any credit card debt or a car payment? Everyone's definition of comfortable depends on all added expenses and spending habits. I live on less than 38k a year and do more than most people I know...

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I'm interested, Fraugoofy, just from a comparison sake. Your yearly expenditure sounds great. You say you do more than most people you know. I assume you have no mortgage, and have no credit card debt. But other than that, do you eat out much or travel much? What is it that you do more of?

Please, I'm not at all being snarky. I am genuinely interested in the things that you do. Are there two of you? I am always interested in living well on less. We were just talking today about ditching one of the cars (both paid for). And I suppose a cat would be a lot cheaper than an 84-lb shedding dog. (I must have a pet.)

This is an interesting topic for me.

Fraugoofy 01-18-2019 08:45 AM
Quote:
Originally Posted by CFrance (Post 1616895)
I'm interested, Fraugoofy, just from a comparison sake. Your yearly expenditure sounds great. You say you do more than most people you know. I assume you have no mortgage, and have no credit card debt. But other than that, do you eat out much or travel much? What is it that you do more of?

Please, I'm not at all being snarky. I am genuinely interested in the things that you do. Are there two of you? I am always interested in living well on less. We were just talking today about ditching one of the cars (both paid for). And I suppose a cat would be a lot cheaper than an 84-lb shedding dog. (I must have a pet.)

This is an interesting topic for me.
I don't eat out much. I can make better food at home. I have zero debt. I own a rental and a home in TV, a golf cart and a car. I own a home in Wisconsin. My rental pays all my bills for my homes.

I travelled last year to Italy, Cancun, Vegas, Riveria Maya and Punta Cana.

I use many many ways to save money on groceries, including Ibotta, saving star, etc. I don't buy anything I don't need. I don't shop in brick and mortar stores much. I shop estate sales, garage sales and online.

I am 50 years old... and have earned every penny I have. I did not win the lottery or collect an inheritance. I believe in the value of hard work and living below my means.

When people ask if they can live on 48k a year without providing specifics about lifestyle or debt, it's a difficult question to answer. I can only provide my perspective or experience.





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CFrance 01-18-2019 12:07 PM
Quote:
Originally Posted by Fraugoofy (Post 1616960)
I don't eat out much. I can make better food at home. I have zero debt. I own a rental and a home in TV, a golf cart and a car. I own a home in Wisconsin. My rental pays all my bills for my homes.

I travelled last year to Italy, Cancun, Vegas, Riveria Maya and Punta Cana.

I use many many ways to save money on groceries, including Ibotta, saving star, etc. I don't buy anything I don't need. I don't shop in brick and mortar stores much. I shop estate sales, garage sales and online.

I am 50 years old... and have earned every penny I have. I did not win the lottery or collect an inheritance. I believe in the value of hard work and living below my means.

When people ask if they can live on 48k a year without providing specifics about lifestyle or debt, it's a difficult question to answer. I can only provide my perspective or experience.





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Thanks for your answer. It sounds like you manage everything well.

Abby10 01-18-2019 12:30 PM
Quote:
Originally Posted by Fraugoofy (Post 1616960)
I don't eat out much. I can make better food at home. I have zero debt. I own a rental and a home in TV, a golf cart and a car. I own a home in Wisconsin. My rental pays all my bills for my homes.

I travelled last year to Italy, Cancun, Vegas, Riveria Maya and Punta Cana.

I use many many ways to save money on groceries, including Ibotta, saving star, etc. I don't buy anything I don't need. I don't shop in brick and mortar stores much. I shop estate sales, garage sales and online.

I am 50 years old... and have earned every penny I have. I did not win the lottery or collect an inheritance. I believe in the value of hard work and living below my means.

When people ask if they can live on 48k a year without providing specifics about lifestyle or debt, it's a difficult question to answer. I can only provide my perspective or experience.





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One thing I know about you is you are one smart cookie. :) Thanks for being so open to share.

Rapscallion St Croix 01-18-2019 01:36 PM
We own our house, car, and motorhome outright and could not maintain our current standard of living on $50K per annum. This is mainly due to the fact that we spend at least three months on the road in the RV every year. With fuel, insurance, maintenance, wear and tear, it costs about a buck a mile to operate the motorhome. Average nightly stays are about 40 bucks. Without the "Beast", we could probably be pretty comfortable at $50K.

thetruth 01-18-2019 01:45 PM
As to no mortgage
 
Finance and mortgage is yet another distorted by government insanity.
They cannot hold your age against your ability to quality for a mortgage. So you can be 80 and take out a 30 year mortgage.
I've not looked in a while but the interest on a 30 year mortgage is below 4%. Stock market returns long term is 8%.

Chi-Town 01-18-2019 01:50 PM
Quote:
Originally Posted by Fraugoofy (Post 1616960)
I don't eat out much. I can make better food at home. I have zero debt. I own a rental and a home in TV, a golf cart and a car. I own a home in Wisconsin. My rental pays all my bills for my homes.

I travelled last year to Italy, Cancun, Vegas, Riveria Maya and Punta Cana.

I use many many ways to save money on groceries, including Ibotta, saving star, etc. I don't buy anything I don't need. I don't shop in brick and mortar stores much. I shop estate sales, garage sales and online.

I am 50 years old... and have earned every penny I have. I did not win the lottery or collect an inheritance. I believe in the value of hard work and living below my means.

When people ask if they can live on 48k a year without providing specifics about lifestyle or debt, it's a difficult question to answer. I can only provide my perspective or experience.





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Impressed at how well you live on less than 38k per year. Good for you. Does your rental income figure into the less than 38k figure?

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Fraugoofy 01-18-2019 03:52 PM
Quote:
Originally Posted by Chi-Town (Post 1617092)
Impressed at how well you live on less than 38k per year. Good for you. Does your rental income figure into the less than 38k figure?

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Before or after expenses?

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CFrance 01-18-2019 06:08 PM
Quote:
Originally Posted by thetruth (Post 1617090)
Finance and mortgage is yet another distorted by government insanity.
They cannot hold your age against your ability to quality for a mortgage. So you can be 80 and take out a 30 year mortgage.
I've not looked in a while but the interest on a 30 year mortgage is below 4%. Stock market returns long term is 8%.
Rully. Our broker: Don't use your money; use theirs.


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