[Bill14564]

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.

Social Security COLAs have matched or exceeded inflation (cost of living) over the past ten years or so (can't remember exactly how far back I looked). Yes, you can find examples of items that have increased more but if you're honest you can find examples that have increased less. If one is living solely on SS then hopefully they will choose wisely.

[Bill14564]

Originally Posted by Aces4

Exactly, if one has to worry about living on SS and amenities rising, the bond on the tax bill rising, price of groceries which appear to be higher and I'm not talking about the house bond, and every other expense, The Villages isn't for them. Why live here with such limited income when they can choose another location which makes their retirement so much more enjoyable.

I get that you are well-heeled and planned well with a good income but picture living here with only $25,000-$35,000 before taxes in your pocket a year with no additional assets other than able to purchase a low end home here and a vehicle. It's pretty skimpy living and the cost of living in The Villages is not cheap as some would have you believe.

What bond on your taxes is not the house bond?

Property taxes have generally been steady or decreasing over the last five years. On the other hand, school taxes have more than covered that in their increases.

The bond on the home will eventually be paid off.

It makes sense to ask why someone would want to live here if their income was that limited. Who knows, someone who is doing it might have a good answer to that.

[Aces4]

Originally Posted by Bill14564

What bond on your taxes is not the house bond?

Property taxes have generally been steady or decreasing over the last five years. On the other hand, school taxes have more than covered that in their increases.

The bond on the home will eventually be paid off.

It makes sense to ask why someone would want to live here if their income was that limited. Who knows, someone who is doing it might have a good answer to that.

Maintenance bond.

[Bill14564]

Originally Posted by Aces4

Maintenance bond.

Ah, okay. But for accuracy, that is a yearly fee and not a bond payment. Little difference, still money out of your pocket, but a fee amount is easier to change than a bond payment and a bond payment will eventually come to an end.

[asianthree]

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.

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

[Aces4]

Originally Posted by Bill14564

Social Security COLAs have matched or exceeded inflation (cost of living) over the past ten years or so (can't remember exactly how far back I looked). Yes, you can find examples of items that have increased more but if you're honest you can find examples that have increased less. If one is living solely on SS then hopefully they will choose wisely.

"According to current information, Social Security COLAs (Cost-of-Living Adjustments) have not fully kept pace with the actual inflation that seniors are facing, with many experts stating that the recent 2.5% increase for 2025 is below the inflation rate experienced by older adults, particularly in areas like healthcare and housing costs; meaning seniors are still struggling to maintain their purchasing power."

As far as I'm concerned, SS Cola's are based on only a few of the expenses and don't even touch basic expenses which have escalated.

[Bill14564]

Originally Posted by Aces4

"According to current information, Social Security COLAs (Cost-of-Living Adjustments) have not fully kept pace with the actual inflation that seniors are facing, with many experts stating that the recent 2.5% increase for 2025 is below the inflation rate experienced by older adults, particularly in areas like healthcare and housing costs; meaning seniors are still struggling to maintain their purchasing power."

As far as I'm concerned, SS Cola's are based on only a few of the expenses and don't even touch basic expenses which have escalated.

There are experts and there is data. As I mentioned above, some things exceeded inflation and others not.

It’s probably the case that the current housing market is not good for someone looking to buy in their SS income alone. Okay, that person will have a problem. On the other hand, those already in their home are not affected by increasing home prices.

[asianthree]

Originally Posted by Bill14564

There are experts and there is data. As I mentioned above, some things exceeded inflation and others not.

It’s probably the case that the current housing market is not good for someone looking to buy in their SS income alone. Okay, that person will have a problem. On the other hand, those already in their home are not affected by increasing home prices.

Or sold their home elsewhere and pay cash in TV, or take out mortgage and pay down large % after 30 days and still stay with SS budget. Lots of homes available in TV, should be one available to stay in budget. Then again it’s a hypothetical post, no mention of amount of SS

[Aces4]

Originally Posted by Bill14564

There are experts and there is data. As I mentioned above, some things exceeded inflation and others not.

It’s probably the case that the current housing market is not good for someone looking to buy in their SS income alone. Okay, that person will have a problem. On the other hand, those already in their home are not affected by increasing home prices.

If your SS increase has covered all your living expenses caused by the ballooning inflation recently, you are one in a million.

We haven't even touched costs associated with the home maintenance such as roof needing replacement, power washing, painting if stucco, air conditioning, heat pump... there is always something needing attention. If the OP is receiving the SS max benefit of $61,296. a year, (max benefit to date), and has the funds to buy a home outright, they may be able to squeeze by.

[asianthree]

Originally Posted by Aces4

If your SS increase has covered all your living expenses caused by the ballooning inflation recently, you are one in a million.

We haven't even touched costs associated with the home maintenance such as roof needing replacement, power washing, painting if stucco, air conditioning, heat pump... there is always something needing attention. If the OP is receiving the SS max benefit of $61,296. a year, (max benefit to date), and has the funds to buy a home outright, they may be able to squeeze by.

Or like some move to a newer home every 8-10 years, no worries on AC,roof,HVAC, power wash only for vinyl, paint stucco more than 10 years unless you CMD on color. Didn’t the hypothetical person live elsewhere with maintenance and all the things you posted.
Why all the gloom on a hypothetical post “can you live on SS in TV” just because you can’t doesn’t mean others aren’t better at handling lifestyle. My dad grew up as a young child during the depression. Once he retired, they lived off just His SS all other income put away eventually for their kids.
They traveled, ate out, updated home as needed, mowed his lawn until 93, lavished their grandchildren with too much stuff. Their home up north cost far more in taxes, maintenance, snow removal, heat, air, then home in TV. He said TV cost was like winning the lottery every year.

[opinionist]

Social Security was never intended as any more than a helping hand for retirees.
Social Security is indexed to inflation, but that adjustment is based on a lie.
John Williams documents the actual inflation rate at shadowstats.com
That means it may be affordable today but not 10 years from now.

[Lottoguy]

Ocala National Forest is where you can live on just SS. Many do it there.

[Aces4]

Originally Posted by asianthree

Or like some move to a newer home every 8-10 years, no worries on AC,roof,HVAC, power wash only for vinyl, paint stucco more than 10 years unless you CMD on color. Didn’t the hypothetical person live elsewhere with maintenance and all the things you posted.
Why all the gloom on a hypothetical post “can you live on SS in TV” just because you can’t doesn’t mean others aren’t better at handling lifestyle. My dad grew up as a young child during the depression. Once he retired, they lived off just His SS all other income put away eventually for their kids.
They traveled, ate out, updated home as needed, mowed his lawn until 93, lavished their grandchildren with too much stuff. Their home up north cost far more in taxes, maintenance, snow removal, heat, air, then home in TV. He said TV cost was like winning the lottery every year.

If one can afford a $30,000. bond payment a year, house jumping is a great idea. Ahem...

My Dad and Mom could probably have outshone your Dad, lol, if you want to talk about thriftiness, ambition, common sense and financial security. Thankfully, those talents were passed down to their children.

Both you and I know very few people are that adept at managing their finances and life and if this person is down to living on their SS benefits, they missed the financial boat somehow. They're asking for advice for their circumstances and I believe that lecturing someone how to suddenly become capable and proficient at living on very little is a waste of good breath.

[Bill14564]

Originally Posted by Aces4

If one can afford a $30,000. bond payment a year, house jumping is a great idea. Ahem...

Who is paying $30,000/year for a bond payment? It is typically more like $1,500/year.

My Dad and Mom could probably have outshone your Dad, lol, if you want to talk about thriftiness, ambition, common sense and financial security. Thankfully, those talents were passed down to their children.

Both you and I know very few people are that adept at managing their finances and life and if this person is down to living on their SS benefits, they missed the financial boat somehow. They're asking for advice for their circumstances and I believe that lecturing someone how to suddenly become capable and proficient at living on very little is a waste of good breath.

Who is asking for advice? The OP asked for opinions on whether it is possible. The numbers make it look like it is possible. Desirable? Maybe not, but possible.

[Aces4]

Originally Posted by Bill14564

Who is paying $30,000/year for a bond payment? It is typically more like $1,500/year.



Who is asking for advice? The OP asked for opinions on whether it is possible. The numbers make it look like it is possible. Desirable? Maybe not, but possible.

They were asking for advice as to whether they could live here on SS benefits alone. Semantics.

Some are paying on a $30,000. bond every year. Again semantics. With your breakout of $1500. once a year doesn't make the budge look any better. Squeaking by isn't fun, in fact, it could probably affect their health if things get too tight.