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Post by Jolly on Sept 28, 2021 18:11:42 GMT
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Post by wildhorseluvr on Sept 28, 2021 19:10:31 GMT
What I spend in a year is far, far less than that, even taking into account a couple expensive hobbies I have…. 😁 |
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Post by Ozarks Tom on Sept 28, 2021 19:22:59 GMT
Just my opinion, but retiring with a mortgage or continuing rent is poor planning.
The only category we come close to in the article is utilities, but that would include propane and firewood.
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Post by ceresone on Sept 28, 2021 22:42:17 GMT
Disagree, Tom, sometimes life sneaks up on you and bites you in the rear..
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Post by wildhorseluvr on Sept 29, 2021 0:06:26 GMT
Just my opinion, but retiring with a mortgage or continuing rent is poor planning. The only category we come close to in the article is utilities, but that would include propane and firewood. Almost the same here. Housing, transportation, healthcare, etc are way lower. Utilities are high here, especially since I’m dealing with 2 homes. My downfall is extras like vet bills 😬 and, uh, *home security*. |
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Post by wildhorseluvr on Sept 29, 2021 0:21:15 GMT
Disagree, Tom, sometimes life sneaks up on you and bites you in the rear.. This is true. Sometimes people do everything right and some sort of major health or personal crisis knocks their feet out from under them…sometimes multiple times. I do agree that many older folks end up with high living expenses from poor planning or maybe because they liked living the good life when younger. I never spent money on alcohol, tobacco, fancy homes or cars, etc. but DH and I probably spent a small fortune on our horses. It’d be nice to have more money now, but then I don’t have the health to enjoy it now. I don’t really regret it and I’m content living a (relatively) quiet life now. It was fun while it lasted! 🙃 |
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Post by Jolly on Sept 29, 2021 12:52:43 GMT
Just my opinion, but retiring with a mortgage or continuing rent is poor planning. The only category we come close to in the article is utilities, but that would include propane and firewood. Rent is interesting. Personally, I'd want to own my place. In Louisiana, with homestead exemption, you'll owe little to no property tax out on the rural route. OTOH, I have some friends that sold their place and live in a retirement community, mostly because of his health problems. They don't have to mow grass or do routine house repairs anymore, plus they are close to their doctors and the hospital they use. The problem is that rent does go up with time. |
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Post by farmerjack41 on Sept 29, 2021 13:24:38 GMT
Making that amount in this state will put you over the threshold to have your taxes reduced, mainly will not have to pay the school portion of your property taxes. That is if you are over 70 and your income is at or below a certain level. Sure would like to be able to qualify, as 70 percent of my $3770 property tax bill is for schools. Guess depends on where and how you live $47,579 should allow you to live quite well. Again live within your means.
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