Retirement budget? What do you do??

[BandJCarm]

You can plan all you want to prior to retirement..........but if you did not pinch your kids' heads off when they were little, no amount of planning will come to fruition.

You can't swim if you don't get wet. Just dive in. They can kill you, but they can't eat you!

[ependydad]

Thanks guys.

[RSchleder]

Originally Posted by Brother Les

You are 'retiring' at 55 and you are asking how to save some money on camping? Corp of Engineers that charge nothing.

You will out live any retirement that you have or it will implode with the economy and will be gone shortly. you should not quite your job.

Well "Brother", let me just say, you really gave some hasty and bad advice here. You shouldn't tell folks what they should, or should not do, based on your financial situation or opinion.
I retired @ 55 years old over 20 years ago and my retirement income will continue at it's current amount for as long as I'm alive. If my wife precedes me, she will receive 60% of my current pension until she dies. With all my assets paid for, and no financial worries of any kind, we made a very good decision to retire @ 55. You can see we travel extensively by the # of days we camp as shown in my signature.
The point is, should you really be giving life/financial advice to anyone when you don't know the first thing about that person or their actual financial status? I think NOT!

[Texanmark]

Ependydad... dave is all over, web, radio, print... start with the Total Money Makeover... what did it for us!

[ependydad]

Originally Posted by Texanmark

Ependydad... dave is all over, web, radio, print... start with the Total Money Makeover... what did it for us!

Sounds good. I'm going to pick it up and we'll read it together.

[Jim34RL]

Originally Posted by Brother Les

You are 'retiring' at 55 and you are asking how to save some money on camping? Corp of Engineers that charge nothing.

You will out live any retirement that you have or it will implode with the economy and will be gone shortly. you should not quite your job.

As a retired engineer we tend to plan out everything using project management type programs. This is to ensure we can live comfortably when we retired. Will I had one engineer who planned his retirement out so by 80 he would be dead broke and either his children or the state had to take care of him. If he was still alive!

Why?

He said that the 40+ years that he worked he had to support the dead beats in our state. So when he turn 80 it was his time to get his fair share of state support.

Everyone has a different view point on how they want to live during their retirement years. So I do not give advice on how much you need; everyone's needs are different.

[CaptnJohn]

Originally Posted by Jim34RL

As a retired engineer we tend to plan out everything using project management type programs. This is to ensure we can live comfortably when we retired. Will I had one engineer who planned his retirement out so by 80 he would be dead broke and either his children or the state had to take care of him. If he was still alive!

Why?

He said that the 40+ years that he worked he had to support the dead beats in our state. So when he turn 80 it was his time to get his fair share of state support.

Everyone has a different view point on how they want to live during their retirement years. So I do not give advice on how much you need; everyone's needs are different.

I'm not worried about running out of money but running out of good health instead. I told my wife and daughters if my mind goes, just set me on the curb, wipe the drool 1 last time and call the VA to come and take me away.

[prof_fate]

I'm a member of ROD (resorts of distinction) and AOR. I had to buy into a local resort ($5500) and then pay a $300 annual fee.

ROD is 100% free - any resort anywhere.
AOR is free to $10/night, depending on a few variables.

Now if you stay 300 nights a year at even $30/night tha'ts $9,000 a year...so yeah, buying into ROD (and there are others) is WAY WAY WAY cheaper than anything else i'm aware of.

[prof_fate]

I have jack squat saved for retirement. Plan is to stay healthy and work..and maybe sell advertising on the coffin so I can get buried.

Since 3 of my 4 grand parents lived to 90+ and my aunt is 86 and still totally healthy I have to plan differently than say, my wife who's had few relatives make 70, and fewer still do it healthily. Plus at 46 she's on high blood pressure meds, overweight and just finished radiation for breast cancer. I'm about to turn 55 and besides needling to lose 30 pounds I"m fit as a fiddle.

But yes, failing health is a concertn. I'm thinking either sail boat around the world or RV around north america..sail boats don't use fuel and you don't need a campground (fee) and if you choose wisely the US dollar can go farther in some foregn lands. BUT there are other tradeoffs like where do you go for medical care, what if you have issues 8,000 miles from home, etc.

If SS is all I got to work with, then working is gonna be a neceissity..or maybe I just sail off the edge of the earth. I've seen maps - that's where there be monsters!

I'd like to buy some property to rent out, using that rent as retirement income...but so far it seems my income is tied up in mortgage, utilities, taxes, raising kids, food and the like.

Originally Posted by Jim34RL

As a retired engineer we tend to plan out everything using project management type programs. This is to ensure we can live comfortably when we retired. Will I had one engineer who planned his retirement out so by 80 he would be dead broke and either his children or the state had to take care of him. If he was still alive!

Why?

He said that the 40+ years that he worked he had to support the dead beats in our state. So when he turn 80 it was his time to get his fair share of state support.

Everyone has a different view point on how they want to live during their retirement years. So I do not give advice on how much you need; everyone's needs are different.

[ependydad]

Originally Posted by prof_fate

Now if you stay 300 nights a year at even $30/night tha'ts $9,000 a year...so yeah, buying into ROD (and there are others) is WAY WAY WAY cheaper than anything else i'm aware of.

Thousand Trails with an Elite membership can be cheaper. A retail value Elite membership runs in the ballpark of $5,500. There is a $500-700/year annual feel. You can only stay in one park for 2-3 weeks (depending on rules), but you can go straight to another park. The nightly cost is $0. (Ignoring the occasional park that charges extra for 50-amp service.)

But, the parks are limited in locations. I spent 118 nights in TT parks in 2016. My average for those parks was $18/night once I factor in the maintenance fee, 1-year's worth of financing on the membership, and the odd 50amp service charge (which, I think I didn't pay any this year, but I'd have to look).

[spock123]

I'm retired now and my DW retired this March and we save nothing now. What comes in every month is spent. Why save now? We saved before we retired and now we spend, I plan to leave my son and grandkids the same thing my parents left me, NOTHING! They can work the same way I did. I'm having a great time


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[AbdRahim]

I have been planinning for retirement since age 6. Entered panic mode around age 38. Praise God, I made it out at 55, just before my division got sold and my partner fired. Definitely have to watch the budget. Spreadsheet and balance every month. But, it feels so good to be out. My health and marriage are much better. I hope the money will hold out, but many an older person warned of not enjoying life while young and healthy enough to do it. Life is a balancing act. Save much, spend a little, have some fun.

I once visited a friend at his job on his 81st birthday. I asked what the heck he was doing still there. I said he should be have fun somewhere. His reply - "I am having fun". I then told him that was where he belonged then. I, on the other hand was a mercenary - pay me and I work - as soon as I don't need the money I am out of here. Every one is different. Outside of the spiritual realm, contribute positively to the society, and those around you and enjoy life, working or retired. Whatever the plan is - have one. Then work the plan and have fun.

As far as saving money, like others, I joined Good Sam, and KOA, and usually camp for two to four weeks at a time at campgrounds of $50/ night or less. Some campground give deep discounts for returning customers. Yes!!

See you on the road or at the campground.

[Themeads46]

As a disabled Vet living in Oregon I can get 10 free nights at state parks. Most have full hookups. I use them mostly in coastal State Parks. I love it.. When traveling if it's not too warm I park at a lot of Indian Casino, also free. Free is good, I love free.