I love hearing about the plans of/from those of you who are just a wee bit older than me - it does my heart and soul good - cuz you seem to share my wishes and dreams and plans and hearing you prepare makes it seem doable to me. I thank you . I want so much to retire free of debt and living basically on and of my own ~ doing my own thing , homesteading , taking care of my house and farm - retirement pension in America was meant to be a supplemeant not a total care - it took me a while to understand that - and now I do and I am trying to plan my retirement accordingly by getting semi off grid and becoming self reliant - you all are inspiring me - here is to us!! I raise my glass!!
Not sure how old you are kimmee...I'm 44 and we're starting to really look at what we want as we retire as well. I would love to live in the country, have a few animals and raise all of our own food, including meat. I'd love to know that we're eating mostly hormone and anti biotic free meat.
With dh's business I think we can semi-retire someday.....maybe. We haven't planned well enough until the past few years for it, but we'll be ok either way.
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~48 yr. old sahw, livin' it up in our empty nest, smack dab in the middle of everywhere.~
*We're debt freeeeeeeee! (including the house)*
Kimmee, in my book your never too young to start planning for retirement. Its on you before you know it.
Charles Long says in his book How to Live w/o a Salary that anyone can do what were doing. BUT you still need SOME income. No one can live w/o an income, thats a given.
Start planning now by:
~getting rid of debt including your mortgage if at all possible. Make that a top priority.
~build your EF up and have a savings account too if possible
~find ways that you can bring some income in that you enjoy doing. Doing something you hate because you need an income will only make you miserable (I know from experience)
~have fun learning ....if you take the fun out of it you won't enjoy retirement
~and remember, just because you retire doesn't mean your old. Its only the beginning of a new journey and its what you make of that journey.
This is great Info CJ - as usual. And I just ordered a used copy of his book!! I also got The Frugal Luxuries by Tracey McBride that you recommended - so far its awesome!! (In case you all are poopooing me for buying instead of checking out from the Library - we don't have one and the nearest is at least 45 mins away - that's a huge commitment and I will undoubtedly incur late fees - plus I read and reread all my books!! They are my continued education costs!)
Kimmee, if you haven't started, do so. Barb and I have IRA's since I think 1972, and we are pretty sure we will be all right. We are not counting on Uncle Sam.
I have that book - But I haven't read it yet - just started it!! We don't have much towards our retirement at all - My pension I cashed out to put the downpayment on the house My hubby and I had in Bailey - and it was foreclosed on - it was all in Bob's name cuz I hadn't finished paying off my student loan - This house is in Bruces name because I don't have any credit from my divorce to bob and once again I put all of my retirement savings towards the down and the contractor. But at least I signed the seventy thousand dollar check so I think that might hold up for something when Bruce passes and his kids come sniffing around to collect - I HOPE anyway!! We ahve very minimal savings now and my social security is worth more if I die and it still isn't worth so I need to start practising everything you all have taught me straight away as I am 41 in December!! In case you wonder why I sound so callous about Bruce passing - he has been told he probably won't live past 60 - none of his family has made it that far - he smokes and drinks heavily and is riddled with problems so this is just kindof how we are able to deal with it all.
I contribute the max to my TSP. That is the only thing I took away with me with my seperation/divorce. I left him everything else.
Sooo, I'm not sure how much that will amount to in 10 years, but that's how long I have.
Now, at 47 and nothing saved, I'm trying to figure out whether to buy a house or not. I miss gardening. I always pictured myself working in my garden after retirement. I'd love to own a home, but at this stage of my life is it worthwhile to persue that dream?
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It is only with the heart that one can see rightly;
What is essential is invisible to the eye.
Originally posted by RuthNY I contribute the max to my TSP. ...
Now, at 47 and nothing saved, I'm trying to figure out whether to buy a house or not. I miss gardening. I always pictured myself working in my garden after retirement. I'd love to own a home, but at this stage of my life is it worthwhile to persue that dream?
Yes! Life is more than money.
Could you get a small house, just for you? And continue to contribute to your retirement program?
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Retirement plans - its so cool...
We haven't planned well enough until the past few years for it, but we'll be ok either way.
so I need to start practising everything you all have taught me straight away as I am 41 in December!! In case you wonder why I sound so callous about Bruce passing - he has been told he probably won't live past 60 - none of his family has made it that far - he smokes and drinks heavily and is riddled with problems so this is just kindof how we are able to deal with it all.
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