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What are your retirement plans?
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Retirement Planning
What are your retirement plans?
<font face="arial, helvetica, sans-serif" size="1"><div>Wondering if you'll have enough for your retirement? Considering early retirement? These questions and much more are addressed in this investment plan, saving strategy-oriented message board.</div></font>
Today's future retiree's have almost limitless possibilities to consider in making their retirement choices; When am I going to retire? Where do I want to live? What are my housing options? What will
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Cat:7a9899c6-bb01-48a5-bd56-e73d9d7e3998Forum:f30f5dc6-f3c4-4828-8510-fbe290ff0053Discussion:1e8e8575-0a9d-4b6a-a831-51f0a9416b04
Forums » Work & Retirement » Retirement Planning » What are your retirement plans?
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Re: What are your retirement plans?
posted at July 29, 2012 11:16 AM EDT
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Posts: 3
First: July 29, 2012 Last: July 29, 2012 |
I just turned 60 and retired a few weeks ago. My wife and I have purchased a beach area condo in Costa Rica and plan to move there full time. We will visit family in the USA periodically (or they can come to the beach to visit us!), but we do not want to deal with costs and hassle of maintaining a residence in the USA also. We are taking about 18 months from time of purchase to complete the move. We have always wanted to live by the beach but cannot afford comparable beach property in the USA. The area is beautiful, the cost of living is reasonable, and quality health care is available. I look forward to planning activities on my own schedule vs working around my "work schedule". I use a financial retirement planner to plan expenses, as well as a financial advisor for my investments. The biggest unknown in my planning is health care costs. I'll likely start taking Social Security at age 62 with the philosophy of "better take it while you can, not knowing how it might change in the future". If some day we tire of the beach, we can either move inland in Costa Rica (cooler climate, lower living costs, fewer tourists) or we can come back to the USA. For us, the changes in lifestyle add excitement to our retirement, and we can change our plans in the future if we want! |
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Re: What are your retirement plans?
posted at July 30, 2012 5:09 PM EDT
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Posts: 6
First: November 17, 2009 Last: July 30, 2012 |
We are still (hopefully) 8-10 years from retirement but we are trying to sock away as much money as possible and pay off our mortgage, even though we don't plan to stay in this big house once we retire. We hope to go live in Europe (Italy, where the hubby has family) for a time to immerse ourselves in a culture we so enjoy (we travel there now about once a year)! Then perhaps come back and travel the USA in a travel trailer (we own one now). As a self-employed person, I am maxing out my SEP, but my husband does not have a retirement plan at work so we are limited in his contributions, which is very frustrating. Our government should raise the limit on IRAs so those who don' thave the luxury of employer-based plans can put away more than a meesely $6,000! |
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Re: What are your retirement plans?
posted at July 30, 2012 5:11 PM EDT
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Posts: 6
First: November 17, 2009 Last: July 30, 2012 |
In Response to Re: What are your retirement plans?: I just turned 60 and retired a few weeks ago. My wife and I have purchased a beach area condo in Costa Rica and plan to move there full time. We will visit family in the USA periodically (or they can come to the beach to visit us!), but we do not want to deal with costs and hassle of maintaining a residence in the USA also. We are taking about 18 months from time of purchase to complete the move. We have always wanted to live by the beach but cannot afford comparable beach property in the USA. The area is beautiful, the cost of living is reasonable, and quality health care is available. I look forward to planning activities on my own schedule vs working around my "work schedule". I use a financial retirement planner to plan expenses, as well as a financial advisor for my investments. The biggest unknown in my planning is health care costs. I'll likely start taking Social Security at age 62 with the philosophy of "better take it while you can, not knowing how it might change in the future". If some day we tire of the beach, we can either move inland in Costa Rica (cooler climate, lower living costs, fewer tourists) or we can come back to the USA. For us, the changes in lifestyle add excitement to our retirement, and we can change our plans in the future if we want! Posted by redbeard52 How exciting for you! We wish you luck...and it's no surprise you are having to leave the USA for more affordable housing/health care/living! Can we come visit? LOL |
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Re: What are your retirement plans?
posted at July 31, 2012 10:43 AM EDT
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Posts: 2
First: July 31, 2012 Last: July 31, 2012 |
In Response to Re: What are your retirement plans?: The closer I get to retirement, the more questions I seem to have. Where do I want to live; should I relocate or try the snow bird thing? What will I do after I retire; volunteer, work part time, travel, become more active in my church or my favorite hobby groups? What about housing; do I want to live in my current home or find a retirement community? Have you already considered and made these choices? How are things working for you? Posted by nyadrn Whether you are married or widowed should play a factor. Try to stay a month or more wherever you're considering relocating. My husband and I purchased in a 'premier' retirement community in AZ and it was a nightmare. We hated it...not because of problems w/in the community but we're more friendly, free-spirited and we found the restrictions, conservatism and thinking to be stifling...it was like God's little "waiting room". We felt old before out time. The heat, dust and dirt in the Phoenix area is unbearable. We decided we want to be in a more vibrant, active community where we see young people and children out walking and playing. A place where there are really four seasons. Where there are boutiques, coffee shops, little theatre within walking or biking distance. So we are making plans to spend two months in a town we've visited in the past and selected and decided to check out more places if this one isn't "the one". Try to stay a few weeks or months where you are thinking of relocating. (This will cost much less than a big move only to find out you are not unhappy). It wasn't so bad for us bec. he was still working at the time and the cost of moving to AZ was included but not this next time! I'm ready to find my "forever" home! P.S. I don't want to be a "snowbird". Two homes to take care of is too much - unless you're wealthy and can afford the help. |
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Re: What are your retirement plans?
posted at July 31, 2012 10:56 AM EDT
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Posts: 2
First: July 31, 2012 Last: July 31, 2012 |
We have found a beautiful seaport town on the ICW- eastern coast where housing...athough mostly fixer-uppers, is very reasonably priced. Some of the homes have been there since the turn of the century so we are not really worried about hurricanes because of the way the town is situated on the peninsula. It has a beach (not private) and you can take the ferry across to the Atlantic Ocean for about 1. per person or 3. for a car . We made of checklist of what we wanted....walkability, cafes, restaurants, boutiques, library, weekly produce market, medical care, affordable housing, acessibility to airport, moderate four-season climate. It also has several houses of worship and a senior center. When visited last, found the residents we met to be friendly...and now we're renting on the deep-water harbor to stay for a few months to make sure this will be our "forever home" before we make a big move. We believe we found the perfect place - regional hospital, 30 minutes to international airport hub, county library, beaches, most houses are fixer uppers but they are very affordable. Big box stores about one to two miles out of town (Wal-mart, Lowes, Home Depot) - no big box stores in town helps keeps the small town feeling and beauty! |
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Re: What are your retirement plans?
posted at August 15, 2012 11:42 AM EDT
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Posts: 5
First: May 2, 2010 Last: August 15, 2012 |
In Response to What are your retirement plans?: Today's future retiree's have almost limitless possibilities to consider in making their retirement choices; When am I going to retire? Where do I want to live? What are my housing options? What will I do after I retire? What are other people doing? What are the most important factors in making my decisions? Lets discuss the possibilities. Posted by nyadrn My wife and I are in the process of selling our home, stuff, junk, and things. We are planning on retiring either in Ecuador, Panama, or Costa Rica. Why???? The cost of living is anywhere from 25% to 50% less than in the U.S. I am a service connected combat veteran and am drawing social security. I have seen health insurance premiums as low as $50.00 a month and the doctors are trained here and the facilities are state -of-the-art. Dental care is about 10 -20% of what it is here and again, the training and equipment are top of the line. I know there are a lot of people who think this is a crazy idea, but we have done a lot of investigating and will travel to each place and rent to begin with, and just see if what we have heard from others (who are living in these places) is true. International magazine is a good starting place and go from there. As far as crime and personal safety, I'm sure there are places in each country and areas in the larger cities that are dangerous. However, the violence in all the above countries combined can not hold a candle to the vilence in this country. Once again, the expats who are already living there will be our window into each area to explore. That's our plan ... we can live very comfortable on $600.00 to $1000.00 a month and all these countries offer 50% discounts on everything to senior citizens...including international round trip airline tickets. |
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Re: What are your retirement plans?
posted at August 15, 2012 12:06 PM EDT
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Posts: 1
First: August 15, 2012 Last: August 15, 2012 |
In Response to Re: What are your retirement plans?: I am interested in retiring in 2 years. My husband and I had plans to travel and spend 3 months each year in a different spot. He passed away unexpectedly and now my plans have changed. I would like to know if anyone has any suggestions for nice places to go (travel/rent) for older singles. I don't mind "hanging out" with my couples friends, but I sometimes feel like the 5th wheel! Posted by brownk53 Take a look at www.roadscholar.com. The Road Scholar program has thousands of trips aimed at older adults or multi-generational trips all over the world. We have taken 4 of them so far and plan to take more. Well organized, the people are friendly and we always include the singles in our plans. We recently returned from a wonderful trip to Portland which included all sorts of places in NW Oregon. You would enjoy these trips! |
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Re: What are your retirement plans?
posted at August 15, 2012 12:14 PM EDT
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Posts: 2
First: August 15, 2012 Last: August 15, 2012 |
If they keep screwing around with the Social Security I PAID into all my working life, I will be in a cardboard box down behind Walmart. In Response to What are your retirement plans?: Today's future retiree's have almost limitless possibilities to consider in making their retirement choices; When am I going to retire? Where do I want to live? What are my housing options? What will I do after I retire? What are other people doing? What are the most important factors in making my decisions? Lets discuss the possibilities. Posted by nyadrn |
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Re: What are your retirement plans? Putting my skills to work!
posted at August 15, 2012 12:16 PM EDT
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Posts: 3
First: June 30, 2012 Last: August 16, 2012 |
I'm already retired , about to turn 81 in October, and after an interesting life of work, travel etc. I'm pretty fed up with the whole idea of aging! I'm also in pretty good shape, live alone in nycity (bloody expensive), and will probably outlive my money if I don't do something about it. Since I have a good deal of styling flair (was a Fashion Executive for many years); I'm going to try my hand at decorating services. I've made up a business card and will try to network my way into some business. We will give it the old college try. I'm really good with color, textile, and putting things together, - will let you know when I get my first client. |
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Re: What are your retirement plans?
posted at August 15, 2012 12:52 PM EDT
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Posts: 2
First: August 15, 2012 Last: May 9, 2013 |
In Response to Re: What are your retirement plans?: I am interested in retiring in 2 years. My husband and I had plans to travel and spend 3 months each year in a different spot. He passed away unexpectedly and now my plans have changed. I would like to know if anyone has any suggestions for nice places to go (travel/rent) for older singles. I don't mind "hanging out" with my couples friends, but I sometimes feel like the 5th wheel! Posted by brownk53 My wife and I have a RV assoseation we belong to, I got it from my folks, we can stay at the park (parks) for 21 days free and then we have to be out of the parks for 7 days and then we can go back for 21 more days full hook up (water,toliet) this is in the southwest snow birding it. We pay $ 400.00 a year for this. If your interested send me a messeage. jsmith@lrri.org |
Forums » Work & Retirement » Retirement Planning » What are your retirement plans?
