[rubicon]

Originally Posted by aljetmet

On a $50 K /yr budget and say half is SS it's at least tied to inflation albeit not retirement inflation but it definitly helps.

Lot's of people are conservatively budgetting a 3-4% take from their savings in retirment. It's a good way to start. But one can earn say 8%/yr.

I use Fidility retirement tool where it shows we have a 90% chance to meet our goals by the time my wife and me hit 92. ie we don't run out of money!This is based on almost the worst case scenario.

It also says that we have a 50% chance to have over 3 times what we started with including adjustments for inflation. ( if we just keep our withdraws adjusted for inflation)

My inlaws were conservative spenders during retirement and my wife and brother-in-law had a nice inheritance that we will probably leave to our grandchildren! Moral of the story, watch your investments, but also enjoy your blessed retirement!

aljetmet: I planned my retirement expense in a most conservative manner meaning with the possibility that I would live 10 years more than anyone of my parents. My goal is to leave as much of my savings to my children. My wife is the same age as me and her boss offered to let her work out of our home. so she did not retire when I did and is planning to retire sometime after 2011. I keep reminding myself that I can never replenish my bank account as I did during my earning years and so some purchases have to be measured for their value and use.

[EdV]

Originally Posted by CMANN

That's "ribit, ribit"

Actually "Ribbit, Ribbit" as it turns out. Every day, something new.

[Figmo Bohica]

Originally Posted by rubicon

aljetmet: My goal is to leave as much of my savings to my children.

Our goal is to spend it all and have a good time doing it. We earned it, we get to spend it. Our kid have a great job as does her husband, so we don't figure that we have to be their retirement plan.

[drdodge]

golf is free if you walk
drd

[Ohiogirl]

and takes maybe a minute more out of your (retired) day. I play about twice a week, sometimes another day at the last minute, usually executive courses.

For the last minute (same day), you have to call each course or just show up and wait for a no-show or cancelled spot anyway, whether you have computer access or not.

And, if you only golf regularly a couple of times a week, you have very few points and generally get a tee time unless you are putting in too narrow a time window or choice of courses.

I really thought that once I was here full time I would get the on-line computer access (currently $8/mo), but really haven't found it necesssary. I still might in the future, but there is so much else to do here that I don't want to lock myself into too many tee times, plus I'm kind of a fair weather golfer would sometimes rather go when I feel in the mood.

[surfangel]

I don't think the Villages is any more expensive than other states, except for the price of homes right now, they are a little higher. Before you by a house in the Villages they give you a break down on the cost of living here. It states quite clearly that it's not a cheap place to live.
However I don't see how anyone can make money by owing a rental. I have a second home here in the Villages that I can't sell so we rented it out at the good rate, but are loosing money mostly because of the amenities. I would recommend renting instead of buying here until the economy improves.

[Bogie Shooter]

Originally Posted by surfangel

I don't think the Villages is any more expensive than other states, except for the price of homes right now, they are a little higher. Before you by a house in the Villages they give you a break down on the cost of living here. It states quite clearly that it's not a cheap place to live.
However I don't see how anyone can make money by owing a rental. I have a second home here in the Villages that I can't sell so we rented it out at the good rate, but are loosing money mostly because of the amenities. I would recommend renting instead of buying here until the economy improves.

But, won't the home prices go up if the economy improves??

[Posh 08]

Originally Posted by Bogie Shooter

But, won't the home prices go up if the economy improves??

I'm thinking so and want to be able to buy before then.

[2BNTV]

Everyone must perform a comparative financial analysis when moving for one place to another especially if their going to have a fixed income. Everyone has to decide for themselves if it is feasible.

Most financial people have said that one should not go into retirement with debt and having a mortgage is not the best type of scenario. While this seems too simplistic, it is the way for many Americans.

IMHO - Retirement is not “retirement” if one has to work. Working for a few dollars to pay for something on a short term basis or to have a few bucks for extras or if one feels they will stay healthier. Most financial people say to plan for increased spending habits when not working. As everyone knows, one cannot afford to live outside of their means. Some people are not as fortunate as others in terms of retirement income so they should plan accordingly. With so many options of hobbies and interest in TV, one must be prudent in handling their finances if their income is limited and select options that are doable. At some point, one’s body will tell you when it can’t go no more. To work until one dies is not the way to go.

Two sayings I have been informed of:
1. First you see what you like and then buy what you can afford.
2. Do want to own the house or do you want the house to own you?

[njbchbum]

2bntv - a financial advisor once told us that when doing our analysis we should consider the amount and source[s] of our retirement income as well as our anticipated mthly income vs outgo. the point being that sometimes the leverage to be gained from having a mortgage as a deduction for income tax purposes is more beneficial than retiring with no debt. it's another complication of retirement anticipation! just sayin'.

[Figmo Bohica]

2BNTV, you are correct on the house thing. A show off house in your retirement years can really be a drag. We could have afforded lots more house, but decided that a few cruises and trips a year where more important that showing off for the Jones's. Just love our CYV. Easy to take care of and we are in a great neighberhood.

[graciegirl]

Originally Posted by 2BNTV

Everyone must perform a comparative financial analysis when moving for one place to another especially if their going to have a fixed income. Everyone has to decide for themselves if it is feasible.

Most financial people have said that one should not go into retirement with debt and having a mortgage is not the best type of scenario. While this seems too simplistic, it is the way for many Americans.

IMHO - Retirement is not “retirement” if one has to work. Working for a few dollars to pay for something on a short term basis or to have a few bucks for extras or if one feels they will stay healthier. Most financial people say to plan for increased spending habits when not working. As everyone knows, one cannot afford to live outside of their means. Some people are not as fortunate as others in terms of retirement income so they should plan accordingly. With so many options of hobbies and interest in TV, one must be prudent in handling their finances if their income is limited and select options that are doable. At some point, one’s body will tell you when it can’t go no more. To work until one dies is not the way to go.

Two sayings I have been informed of:
1. First you see what you like and then buy what you can afford.
2. Do want to own the house or do you want the house to own you?

Ah the beautiful sound of common sense falling on my ears. I so agree.
You are ONE SMART GUY and a nice one too!

[LvmyPug2]

We bought a small home with a small mortgage. The operative word here is "small". We examined all our occupancy costs, and living costs. We then looked at hobbies and travel we wanted to do. We added a cushion and decided on a small house. We concluded you do
get less house for your money at TV than other senior developments but the amenities and lifestyle At TV simply don't compare.

[eweissenbach]

Originally Posted by Figmo Bohica

2BNTV, you are correct on the house thing. A show off house in your retirement years can really be a drag. We could have afforded lots more house, but decided that a few cruises and trips a year where more important that showing off for the Jones's. Just love our CYV. Easy to take care of and we are in a great neighberhood.

Well said! I cannot imagine putting oneself in a position to be "house poor" in TV. The whole attraction of being a part of the Villages to me, is being on the go and active. I would not want to be tied down to taking care of a huge home or lawn. The casual lifestyle I envision would not be enhanced by a gaudy showplace of a home. I live in a $400K + property with 2/3 acre on a lake currently, and it fits our lifestyle in MO., as I spend a LOT of time maintaining and enhancing the property, which is an activity I enjoy here --- not in the Villages.

[thekeithfan]

Are you kidding me I came from Connecticut I am saving over $1,200.00 a month in just taxes! No income tax, no property tax on cars my property taxes are one fifth of what I paid in CT. And I have 3 Super Walmarts withing 7 miles of my house. CT doesn't allow SuperWalmarts! I'm saving over $125.00 a month there on food and such. NO heat bill! thats $3,000 a year and the electric rates here are 35% less than CT. My electric bill with air on is lowere than ANY ELECTRIC BILL I ever paid in CT (and I didn't have A/C).