[princesspat]

I am a little obsessed with planning how to be a snowbird in TV. On paper, it looks really do-able. Some people say they spend a lot more in retirement than they thought they would, while others say they don't spend as much without work expenses. I'm wondering, do you think you're spending less or more than you thought you would before you made the leap into TV and retirement? I know this will depend, not looking for specifics....

[LovinItAtTheVillages]

We bought a manufactured home back in 2005
we updated , it, so it is quite comfortable
we bought furniture..and spent more on it than we probably needed to

now, we figure, it costs us $6000 a yr , give or take a few $$

that includes, amenities,(water,sewer)
trash pickup,cable TV/internet
electric,taxes, and insurance

we keep our AC very cool, (70 ish) when we are here and 75 when we are gone back north

and our electric is very reasonable, water here is so reasonable compared to southern FL where we have relatives

BUT, having a home up north to run, and this one, adds up

Im working , (design and create crafts) to have extra $$$
BUT it still beats renting someplace...at least it is our own, with all our own things

[Shimpy]

We are spending a lot more on entertainment, eating out especially. Spending a whole lot less on gas. Food is probably slightly less because we eat out 2 or 3 times a week. We are paying to have our lawn cut which we never did before. So many variables to consider.

[Ohiogirl]

This is our first year to be down here, and we will be snowbirds for awhile, but won't have the expense up north after this summer, as Ohioboy's son is buying the house there. I've been surprised to hear from neighbors and other acquaintances how common this is (for an adult child to buy the house up north).

Anyway, so far we are surprised how little we spend. Of course, we are being extra careful right now since we currently have 2 mortgages, won't have any after this fall, if everything goes according to plan. We don't stint on groceries, however, and eat very well after some astute shopping (which to me is fun).

We eat out only about once a week, and this year, it's often one of our many houseguests treating us to a night out because we are hosting and feeding them a lot of the time. In between guests, we're pretty content to cook out or otherwise eat at home. Just enjoy being alone at last, after all this company, which, to be fair, is our own doing. And most of the time I enjoy them.

We will occasionally go to Happy Hour somewhere and maybe have an appetizer, and I go to lunch with golf buddies about once a week or so, but mostly enjoy eating at home.

Next year, I expect we will do more entertaining at home for people we've met here in TV - not everyone eats out all the time, lots of us like to eat in (or outside on the lanai about 4 mos out of the year, or more) and enjoy the flora and fauna in our own back yards.

Just saw an elder law attorney this week and even though we told her we expect to spend most of the money we've saved, and don't expect to have a lot left to leave to the kids, she said we would probably be surprised - most people's money grows, even when they don't expect it to, even when they are spending some of it.

[princesspat]

Thanks for the wisdom, all of you. I'm determined to make it work and it's just a question of whether to work one or two more years!

[JohnN]

like shimpy said, more on eating out and entertainment,
a lot less on gas and work clothes.

now if my kids get out of college and get jobs, it'll be fat city.

Originally Posted by JohnN

like shimpy said, more on eating out and entertainment,
a lot less on gas and work clothes.

now if my kids get out of college and get jobs, it'll be fat city.

Amen to that last sentence!

[rjm1cc]

Originally Posted by princesspat

I am a little obsessed with planning how to be a snowbird in TV. On paper, it looks really do-able. Some people say they spend a lot more in retirement than they thought they would, while others say they don't spend as much without work expenses. I'm wondering, do you think you're spending less or more than you thought you would before you made the leap into TV and retirement? I know this will depend, not looking for specifics....

It might be that you spend just as much in retirement as you did during your working life but the mix will be different. After the basics a lot of your retirement spending will be on items you can cut back on if you have too.

[Pturner]

Princesspat,

Welcome to TOTV! The key is coming up with a budget you can afford and sticking with it. So much of our spending in retirement years is discretionary.

You'll almost certainly spend a good bit less on gas, auto maintenance and clothing compared to your working years. If you ate out for lunch everyday during work, you might be able to eat out less-- if you want to.

As a snowbird, you'll probably spend more on household maintenance. You will need someone to tend your yard and house watch while you're away.

One wonderful thing about TV is that a lot of entertainment is packaged into the $137 amenities fee. If you don't want to spend a great deal more than that on entertainment-- you won't have to want for fun things to do.

If it's doable on paper, stick to the plan and you'll be fine.

Please keep us posted on your progress.

[Bill-n-Brillo]

princesspat, you can read all the financial columns/books/magazines/etc. that you want, getting all the 'expert' advice that's available. Some will tout that you need 75-80% of your pre-retirement income to live your life in retirement. That might be true for some.....might not be true for others. Maybe you'll go into retirement debt-free.....some people might not........and so on. As pturner and others have said, formulate a budget that you believe will work for you then try it out and see if you can stick to it. Changing lifestyles and living habits is difficult for some people - I know it was for us. Assess your priorities - that'll make it easier!

Bill

[rubicon]

I am a full time resident and do admire the tentacity of seasonal residents. It does take a lot of energy maintaining two or more homes. Best of luck to all of you