april47
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Post by april47 on Feb 24, 2011 14:56:31 GMT -5
All the threads seem to dwell on saving for retirement not what to do when you get there. I'd like to see what others are doing now they are retired. Did you move and downsize? Do you have money to travel? Budget and saving advice? Do you work part time? I live on SS now but will get a small pension in 1 1/2 yrs. I also take the widows amount and can redo it to my own in a few years and get $300 more since when I worked I did make decent money. I live in a cute apartment and have no wish to have a house to take care of. I don't have a lot of savings but will save it for car repairs and medical expenses. No CC or car payments. How are you who are already retired doing? Any hints? Fun things to do cheap?
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Deleted
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Post by Deleted on Feb 24, 2011 15:02:59 GMT -5
I can tell you what my dad does since he retire a couple of years ago (my mom still works) - he baby sits my daughter 1 day a week - he goes to breakfast every morning - he plays trumpet in 3 different community bands - he volunteers to drive patients to doctors visits - he volunteers to play TAPS at local veteran's funerals - he hangs out a the senior center playing pool, singing in the glee club, etc - he usually hikes with my brother on Sundays - he refs 6 or 7 soccer games a week during the summer and fall that's all I can think of.
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NancysSummerSip
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Post by NancysSummerSip on Feb 24, 2011 15:07:12 GMT -5
The hubby retired almost 2 years ago (I still work):
He shows and works on cars. He teaches defensive driving with several car clubs. He does housework (Woo-hoo!) He is doing major renovation stuff around the house.
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thyme4change
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Post by thyme4change on Feb 24, 2011 15:07:16 GMT -5
I wish I could meet your father. He sounds like my kind of guy.
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Deleted
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Post by Deleted on Feb 24, 2011 15:28:15 GMT -5
I am 40 years from retirement (knock on wood) so kinda hard to tell what I would do when I get there, but my mother in law does the following:
- goes to church every day - volunteers at church - work at her brother in law bakery on weekends - baby sit my wife's cousin 3 boys after school - come spend a week with us every couple of weeks - nag us about having kids - intend to move in with us the moment we have a kid - also, travels to Haiti (she still have a house there) every 4-6 months and stay there anywhere from 1 to a 6 months depending on the climat and what she feels like doing
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Gardening Grandma
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Post by Gardening Grandma on Feb 24, 2011 15:49:56 GMT -5
All the threads seem to dwell on saving for retirement not what to do when you get there. I'd like to see what others are doing now they are retired. Did you move and downsize?
We moved, a few years before DH retired, but it was actually a bigger home that we custom built.
Do you have money to travel? We make an overseas trip every 2-3 years.
Budget and saving advice? Pretty much the same as before except we aren't saving for retirement. We do save for short term goals (vehicle replacement, next trip)
Do you work part time? I worked part time for about 10 years after retiring at the age of 54. DH retired two years ago (at age 58) and does not work. I quit my part time job last year.
How are you who are already retired doing? Any hints? Fun things to do cheap?
We're doing OK. Retirement income is from both pensions, SS, rental income and a regular withdrawal from retirement accounts. Hints? Pretty much the same as when we were working: avoid consumer debt, live within your means, mostly try to find that balance that allows you to enjoy each day without spending more than you can afford. Fun things to do on the cheap: I tutor my grandson, do volunteer work, belong to a book club, sew for my granddaughter and mother, read. Our entertainment in the winter is via Netflix; in the summer it's camping.
The one caution I would give you is don't assume that inflation will not become a problem. I HOPE it won't, but I remember the 80's. Retirees who were on fixed incomes were severely affected by the rampant inflation. It was very, very bad for them.
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sapphire12
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Post by sapphire12 on Feb 24, 2011 17:07:56 GMT -5
I'm not retired yet. So that doesn't help you.
My father plays golf 3x week during the warmer months (April-Nov) grocery shops on Friday mornings. cuts my grass, during the summer months visits family and friends who are in declining health
My mother works part-time travels domestically and international is involved in several non-profit orgs visits family and friends
Neither is sitting around bored.
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kdamron
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Post by kdamron on Feb 24, 2011 17:17:27 GMT -5
I'm not retired either, but:
Mom makes jewelry gardens volunteer's
Dad camping, camping, camping oh yeah and fishing
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973beachbum
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Post by 973beachbum on Feb 24, 2011 17:46:40 GMT -5
My mom is in her 80's and this is what she did.
She sold her big house and bought a smaller size condo (1800 sq ft 2/2) for cash. She has no debt just regular bills that she pays with her SS and a small pension with a little help from the interest from the money she made selling the house.
When the condo got to be too much work she sold it and put the money with the rest of her investments. So she has a little more interest every quarter. She then rented a small 2 bedroom apartment. She was fine for a while then it got to be too much work and she moved to a small 1 bedroom apartment.
Each move cost less in rent, utilities and work to keep clean etc.
In her free time now she goes to church everyday. She goes to the mall after church and walks around for exercise. She also goes to Europe almost every summer for about 6 weeks. She also has been volunteering to drive some of the older people from her church to church or the doctors or grocery store.
At 83 she says her next move will be to a pine box.
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dancinmama
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Post by dancinmama on Feb 24, 2011 18:29:18 GMT -5
DH plans to retire in about a year, so we are still in the saving phase. It is going to feel odd to be in the spending phase in a year, but I think we're ready.
We bought our retirement home when he relocated with his company (5) years ago and love it. It is in a rural area and provides a very serene ambiance.
We plan to:
#1 Have a HUGE retirement party inviting no one from his work. ha ha ha Walk the dogs together daily Read Plant a vegetable garden Watch movies Do a few projects around the house Spend more time with family that lives in the area Do some volunteer work Attend more concerts and sporting events Do some traveling Play guitar, fish, and golf (things DH will be doing that he hasn't had time to do)
I'm sure that there will be an adjustment in having DH at home all the time, but we generally have a great time together so I'm looking forward to it.
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Post by debtheaven on Feb 24, 2011 19:21:08 GMT -5
Archie your dad ROCKS!!! I don't only want to meet him, I want to be him LOL.
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happyscooter
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Post by happyscooter on Feb 25, 2011 7:34:26 GMT -5
My MIL retired several years ago and just sat looking at walls. She wouldn't volunteer, wouldn't use the vacation home since she didn't like where it was, no church or clubs, wouldn't babysit for us, etc.... When FIL retired, they both said they didn't have any money to travel or eat out. Both got SS$$$$, great pensions, had stock and had several thousands $$$ saved. (yes I know that for a fact). It's a shame they didn't do more with their time.
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iono1
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Post by iono1 on Feb 25, 2011 9:09:06 GMT -5
Did you move and downsize? I stayed in my house. It's paid off & as a result, including utilities, it costs me less than $700/month to live in.
Do you have money to travel? I do, but I'm not a big traveler. I go to California for a week or 2 every year. I travel to sporting events for short periods of time. I have NFL season tickets to a team almost 300 miles from here, and I'll see a few baseball games including a 3 day trip to Baltimore.
Budget and saving advice? I have a good pension & $ in the bank, so I really don't budget. My goal is to try not to spend more than my monthly pension. I bought a new car, paid cash, after I retired to avoid unexpected car expenses. By the time it will start needing repairs, I'll be getting Social Security that will increase my income between $1,200-$1,400 a month.
Do you work part time? No, I like having no job, but I do have hobbies that keep me busy.
Fun things to do cheap? I like to watch TV & cable is a good way to watch movies cheap. When I see posts advising people to drop cable, I think that when they don't have cable they'll want to go out & spend more money than what they're paying for cable.
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Deleted
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Post by Deleted on Feb 25, 2011 9:52:59 GMT -5
I still work, but my husband retired a couple of years ago. - He moved here so I guess that was a form of downsizing although my house is actually larger.
- He reads three newspapers every day before heading to the computer to read the news there. He also reads Time and Newsweek plus a couple of monthly ones.
- When he's not reading, he's listening to NPR.
- He works crosswords.
- He builds models.
- He goes out to eat sushi with my DIL once or twice a month.
I'm off for a couple of months in the summer so I get to live the life, too, then. We add afternoon scrabble matches to the mix then.
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jeffreymo
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Post by jeffreymo on Feb 25, 2011 9:58:26 GMT -5
I went to the first showing at the movie theater last Saturday. It was full of retirees. I think most theaters run an early bird special where tickets are drastically discounted. I think we paid half price.
Other ideas go to church daily if you're a church goer - I imagine it would be a nice daily routine to get into visit elderly relatives - they can always use the company volunteer go to the mall and walk for exercise
My dad plays alot of golf and keeps a maticulous yard during the warm months. My mom babysits her grandkids quite a bit. They also travel to other cities and go to car shows, visit their brothers and sisters frequently, and take us out for family dinners quite a bit.
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april47
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Post by april47 on Feb 25, 2011 10:10:26 GMT -5
I'm discovering one of the hidden perks of being retired. I have a miserable cold right now. Stuffy nose, cough, low grade fever. Nothing serious but if I were working they make you feel like a rat for calling in sick. You got an "incident" and if you call in 3 days they wanted you to file medical leave and go to the doctor to get papers filled out. So as a result a lot of people came to work with sniffles and feeling miserable. Bear in mind, I was a nurse and a lot of nurses should stay home and not spread germs. Anyway, I'm watching TV with my box of kleenex and cup of soup and don't have to call in and feel quilty.
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Deleted
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Post by Deleted on Feb 25, 2011 10:16:38 GMT -5
My parents retired around age 65. They'd lived in various places due to Dad's job, but selected Myrtle Beach because they'd vacationed there often and they liked to golf. They bought a small house a couple of miles from the ocean and paid cash. Their living expenses are minimal and they saved a lot over the years. They used to joke that their SS paid their country club membership. They quit the CC- Dad's 80 now and back problems forced him to give up golf. They kept their ownership in the Club, though, which is a good investment. They both read a lot. Mom has a large circle of friends and they have lunch and play cards often; they're both very active in their church. Dad manages their investments and spends a lot of time on that, but he enjoys it. He's far more Internet-savvy than Mom. They've made it to every grandchild's HS graduation and, with only one college graduation left, they'll have made it to every grandchild's college graduation as well. We're relieved that they now fly the longer distances. They also do most of the yardwork themselves.
It's a pattern I'd like to follow except that I probably won't be near the ocean and I don't golf, so I'll travel instead.
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Gardening Grandma
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Post by Gardening Grandma on Feb 25, 2011 10:48:36 GMT -5
I'm discovering one of the hidden perks of being retired. I have a miserable cold right now. Stuffy nose, cough, low grade fever. Nothing serious but if I were working they make you feel like a rat for calling in sick. You got an "incident" and if you call in 3 days they wanted you to file medical leave and go to the doctor to get papers filled out. So as a result a lot of people came to work with sniffles and feeling miserable. Bear in mind, I was a nurse and a lot of nurses should stay home and not spread germs. Anyway, I'm watching TV with my box of kleenex and cup of soup and don't have to call in and feel quilty. LOL It snowed heavily yesterday and I told DH, "This is when I really like being retired"... I used to HATE getting in to work in snowy weather... My company also had a very strict attendance policy..
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alabamagal
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Post by alabamagal on Feb 25, 2011 11:14:04 GMT -5
Archie's Dad sounds awesome!
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daylight
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Post by daylight on Feb 25, 2011 17:01:05 GMT -5
I wish I could send some Karma to Archie's Dad. My aunt just watches tv and currently helps an elderly neighbor. I'm decades away from retirement, but I imagine I would read a lot, write, go hiking, go to concerts/theatre and volunteer a lot (tutoring kids, driving, organizing etc). Or even keep working part-time. Babysit the grandkids.
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cronewitch
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Post by cronewitch on Feb 25, 2011 17:17:12 GMT -5
I want to retire in a couple of years but really don't know what I want to do. I will probably start with cleaning my house, decluttering and getting it ready to sell. Then after I list it start shopping for a new house or have one built. That takes a lot of time the new house will be my home for the rest of my life or until I can't live alone so it must be just right. Then I will get the house and yard just right in the new house.
I will do more fishing and spend more time with my mom, have more parties at home and go out more. I want to exercise more so will join a gym and go to a class every couple of days. I will read more and cook better food.
I have a boyfriend be he smokes so will die young. He wants us to travel the country with a boat and camper catching fish so I might do that before picking a new house.
I see retirement as phases, phase 1 will be with him both pretty healthy. Phase two might have him doing less when he has more breathing issues so we will fish near home, camp a few days at a time and be homebodies.
Phase two will be alone, in pretty good health hanging out at home and the gym maybe join a senior group or two for travel and card playing.
Phase three will be when health declines so more reading and resting and less going and doing, doctor appointments and taking care of myself. Hire out some heavy yard work and house work.
Last phase I will do less and hire out all house and yard work, and perhaps have live in help. I will give up driving and use access buses to get to appointments.
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reader79
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Post by reader79 on Feb 25, 2011 17:18:36 GMT -5
One set of grandparents kept their paid-off house and have stated that they will never move to Florida. They have enough income and activities to keep them afloat. My grandmother quilts, and gardens, and is a member of multiple clubs for each. My grandfather is a technology nut, so he has taught classes at the senior center on digital photography and other subjects. They don't really spend much money on non-essential stuff except for travel. To Cali and Atlantic City to visit family, to Baltimore, Boston, Virginia, etc. on bus trips with their friends. They haven't gone overseas in a while because their mobility has gone downhill a bit. They have two government pensions (city and federal,) my grandmother's SS, and cash and CD's.
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daylight
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Post by daylight on Feb 25, 2011 17:32:31 GMT -5
Crone - I wish a lot more people were thinking like you.
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Nazgul Girl
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Post by Nazgul Girl on Feb 25, 2011 20:45:42 GMT -5
I still work, but DH was involuntarily retired two years ago after struggling with a down market for chemists, not being able to finish pharmacy school, and continually failing health. His retirement income is S.S., a state pension from his first wife after she passed away young, a drawdown on her retirement savings account ( his are untouched ), a rental check, and a land contract check. I contribute my paycheck and a huge amount saved into my employer's retirement savings vehicles.
DH plays computer games, takes care of the poodle ( she told him that's his job ), keeps track of our stocks and sends out a family investment newsletter, reads science magazines and books on fractals, watches science shows, cooking shows, and vintage cartoons on Boomerang, walks on the treadmill, reads science fiction, does all of the cooking ( I do fix two meals a week, but they're simple ones ), does some housework, does laundry, takes care of issues with our rental, and does the shopping. He DREAMS of moving to Florida.
I just found out that I have to work for 3 more years and nine months in order to get employer-paid health insurance, which could turn out to be a good thing savings-wise, which means I've got 7 3/4 more years to go. He's disappointed, but he'll find more things to do.
I look for rentals and we have made 3 offers lately, but they were low, and others got them. That's okay. I'm good. There are so many low-priced, decent houses around here that it willl line out one of these times for us. We're making a pretty good transition into late middle age.
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april47
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Post by april47 on Feb 25, 2011 22:47:15 GMT -5
I think that one thing that can throw all plans out the window is the loss of a long time spouse. My husband and I planned on travelling in our RV and I have no desire to do that alone now although some widows do. Also those that plan on living on SS for 2 need to take into consideration that will be cut in half with the loss of the spouse. Pension benefits may be less. It can be a whole new future to work out, both financially and emotionally.
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cronewitch
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Post by cronewitch on Feb 25, 2011 23:47:20 GMT -5
I have seen all the women in my family lose a spouse and spend the last few decades alone so plan for it. Grandma was widowed over 25 years and mom 17 so far. They both married older men who smoked so died young. Dad was not able to travel even before mom retired, they did some before she retired but after retirement they would get him a wheel chair at airports and he didn't want to go places. Mom and grandma both dated after they were widowed but never lived with the new guys so lived on just the income they had.
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lynnerself
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Post by lynnerself on Feb 26, 2011 2:57:54 GMT -5
We are about 6 years from retirement. The two biggest discussions are where to live and how to take DH pension. He wants to be on acreage in the country (for at least the 1st 10 years). I want to be closer to the gym and classes and dinner out. The pension is even worse. It has about 20 options. Pension, lump sum, 50/50. And then benefits until he dies? We both die?More for both, 1/2 after he dies? What if I die 1st? Its alot to plan.
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Deleted
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Post by Deleted on Feb 26, 2011 9:08:33 GMT -5
I think that one thing that can throw all plans out the window is the loss of a long time spouse. My husband and I planned on travelling in our RV and I have no desire to do that alone now although some widows do. Also those that plan on living on SS for 2 need to take into consideration that will be cut in half with the loss of the spouse. Pension benefits may be less. It can be a whole new future to work out, both financially and emotionally. I know that's my future. DH has polycythemia vera; his body makes too many red blood cells. It's manageable but will eventually morph into a form lof lymphoma or leukemia- could be next year, could be in 5 years, but the cancer will do him in within a year of the diagnosis. He's 72 and we're enjoying life, so we don't get all obsessed over it. I'm entitled to a lot more SS on my own record than I'd get in widow's benefits, if it isn't taxed away. Frankly, I'm hoping to remarry if that happens and DH knows it. A good marriage is so much better than living alone. I just don't want to end up with the old geezer version of a gold-digger.
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Gardening Grandma
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Post by Gardening Grandma on Feb 26, 2011 11:02:00 GMT -5
I think that one thing that can throw all plans out the window is the loss of a long time spouse. My husband and I planned on travelling in our RV and I have no desire to do that alone now although some widows do. Also those that plan on living on SS for 2 need to take into consideration that will be cut in half with the loss of the spouse. Pension benefits may be less. It can be a whole new future to work out, both financially and emotionally. April This issue truly is the elephant in the room that most of us (myself included) don't want to think about. DH is 4 years younger than I am and he takes good care of himself. Nevertheless he has hypertension and a number of other, smaller health issues. So I figure our longevity is probably about even..... Financially, I think I'd be OK even losing his SS benefit. I'd still get his full pension ( in addition to my own). But I could not keep up the maintenance on this home by myself and would probably have to move to a condo or apt. And I love this house, so that would be hard. We like to travel, but I don't think I'd want to travel alone. I doubt that I'd ever remarry. Women my age outnumber men and I'd have little interest in being someone's nursemaid when there was no long term emotional history. I'd also be leery of being the target of someone looking to better their financial situation.
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LlamaLlamaDuck
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Post by LlamaLlamaDuck on Feb 26, 2011 18:54:25 GMT -5
I am going to volunteer at the Humane Society. I am going to do much of the same stuff I do now - garden, cook, a little woodworking, walking and biking. We will have more time to travel.
This all assumes that we will make it past the age of retirement which I suspect for me will be in my late 60s and for DBF sometime after 70 (so he says.)
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