minimum income

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  #1  
Old 09-26-2007, 06:41 PM
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Default minimum income

What would you consider a MINIMUM retirement income to live compfortably in TV? consider mortgage, insurance, taxes, garbage, water, electric, fees, yardwork, housecleaner, every otherstuff costs.
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  #2  
Old 09-26-2007, 06:46 PM
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Default Re: minimum income

retirement and mortgage don't mix from my perspective. excluding mortgage I'd say $4,000/month.
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Old 09-26-2007, 06:57 PM
Hyacinth Bucket Hyacinth Bucket is offline
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Default Re: minimum income

The $1,000 figure doesn't pertain to everyday living expenses - just the cost of maintaining your property. I do not think that figure included gasoline, insurance, food, etc.

HB
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Old 09-26-2007, 07:04 PM
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Default Re: minimum income

My figure was meant to include everything, people that have been retired should be able to give insight as to whether it is close.
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Old 09-26-2007, 07:31 PM
villager99 villager99 is offline
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Default Re: minimum income

with no mortgage and a one person household i live comfortably on 2-3 thousand a month. using extra income for travel and/or family vacations.
lots of everyday outdoor activities like swimming, social clubs, events on the squares etc are free.
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Old 09-26-2007, 08:19 PM
nanci2539 nanci2539 is offline
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Default Re: minimum income

I have to say, $4000 a month sounds awful high to me. We live in IL now and the cost of living in is high and where we pay a lot more than $4000 a month, I was under the impression the cost of living a nice life style in TV was less than $2000 a month and that included everything (minus mortgage). I would be interested to hear from others who live there and have an average lifestyle enjoying dinner out. movies, etc. I realize it's hard to ball park because everyone lives differently but what about fixed expenses; if under $1000, am I understanding that it will cost $3000 plus to enjoy a decent recreational lifestyle???
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Old 09-26-2007, 08:57 PM
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Default Re: minimum income

nothing i do or purchase in tv costs as much as i paid in portland, maine or cambridge, mass.
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Old 09-26-2007, 09:02 PM
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Default Re: minimum income

We talking net or gross income? The question pertained to Gross Income including mortgage.

I think the $4000 gross plus mortgage might be reasonable for two people.
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Old 09-26-2007, 10:31 PM
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Default Re: minimum income

My 'current' business plan (which I hope to execute in late 2008/ early 2009) calls for about $3200 per month.. it is loaded with golf (3-4 x per week on the Championship courses plus a couple bowling leagues!)... It doesnt include a mortgage since I will be lucky enough to pay cash for a house... the budget includes monies for savings in anticipation of traveling and vacationing....plus it's just me... because I'm only 55 right now, Medical is a wild card!
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Old 09-26-2007, 10:53 PM
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Default Re: minimum income

Median household income in The Villages in 2005 was $44,800


http://www.city-data.com/city/The-Villages-Florida.html
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Old 09-27-2007, 12:35 AM
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Default Re: minimum income

Pete I believe the answers you were given were quick guesses by the people who gave them.
So I would like to put my 2 cents worth in. First of all as I have stated in TOTV on a prior occasion, Mortgage and retirement do not mix. Having said that I believe that with out a mortgage and depending on your cost of a medical supplement and maybe a policy to cover long term care plus TV monthly expenses your looking at about $2,000 to $2,500. Of course I am not yet retired and not a TV owner yet, so it is just my estimate.It would all depend on the life style you plan to have. I am not presently a golfer I plan to probably learn but, will not become a fanatic. Maybe a couple of times a month if I like it.
Larry & Bev
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  #12  
Old 09-27-2007, 07:48 AM
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Default Re: minimum income

Quote:
Originally Posted by diskman
Pete I believe the answers you were given were quick guesses by the people who gave them.
So I would like to put my 2 cents worth in. First of all as I have stated in TOTV on a prior occasion, Mortgage and retirement do not mix. Having said that I believe that with out a mortgage and depending on your cost of a medical supplement and maybe a policy to cover long term care plus TV monthly expenses your looking at about $2,000 to $2,500. Of course I am not yet retired and not a TV owner yet, so it is just my estimate.It would all depend on the life style you plan to have. I am not presently a golfer I plan to probably learn but, will not become a fanatic. Maybe a couple of times a month if I like it.
Larry & Bev
Yeah I think you're in the ball park diskman. Going by what our monthly expenses are now we'll be farther ahead in TV. My only vice is fishing and my wife said she'll continue to work. :bigthumbsup: There is a God!

Steve
  #13  
Old 09-27-2007, 08:48 AM
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Default Re: minimum income

What would the estimated cost for TV housing be if you excluded food, mortgage, recreation & medical? :dontknow:
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Old 09-27-2007, 09:50 AM
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Default Re: minimum income

In response to diskman saying retirement and mortgage don't mix, that entirely depends on your financial situation. We are fortunate enough to have money with an investment firm, that, this year, will make about 14 percent, and has been that or more for the last ten years. It makes no financial sense for me to pay cash for house with a part of that, when we can use someone else's money, at 6 percent, and leave the 250,000 or so in my accounts, to return 14 or up, clearing at least 8 percent. i'd rather leave my money with the amazing people of Fisher investments, than subject it to the ups and downs of hoping to build more equity in housing market.
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Old 09-27-2007, 10:41 AM
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Default Re: minimum income

We are 1 1/2 year away from retiring and moving but I was figuring around $4,000/month. That figures sounds reasonable for a fair standard of living. I figure it would be more yearly depending on our travels. We are still figuring out what makes more sense financially. To pay cash or take small mortgage so we'll have some deductions at end of year. We'll discuss with our accountant. I think anywhere from $3,000-4,000 is reasonable based on figures I have seen.

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