View Full Version : Retired Living aka The Lilly Pad
Retired Living
Links
Department of Veterans Affairs (http://www.va.gov/)
OPM Retirement & Services (http://www.opm.gov/retire/index.asp/)
Social Security Online (http://www.socialsecurity.gov/)
Thrift Savings Plan (]http://www.tsp.gov/)
[reserved for links]
Find a neat link, post it and we can move it to post #1]
Retired Living
Rules
1. Once retired most rules are optional.
2. If it looks like work, go back to bed.
[reserved for retired rules]
[Find a neat rule, post it and we can move/add it to the rules in post #2]
ocean
09-03-2006, 12:25 PM
Life begins once retired. Congrats to those are already enjoying it. I’ve got another 5 years to get to that point. I try to work hard with my TSP and among other things to make sure I can live comfortably when I retire.
Ocean
ChemEng
09-03-2006, 03:40 PM
Ive got 30 years... :/ I cant wait...
pyriel
09-03-2006, 05:30 PM
I got 9 more years to retire. I'm an old man so hopefully, I will have some energy left to enjoy my retirement... If I do get bored, I will open up a business (I actually have something in mind). But for now, my goal is to travel and be a bus driver for my kids (they'll be in high school by then).
P
Where to retire?
Do choose a place you like! That has other retired folks around. The more the better! This was a project that lasted the last 6 or 7 years.
Six ladies came over this evening, my wife's quilting buddies. They are also working on a recipe book. So ever week they try them out at one another's home's. I had never had food that different and that good before. I'd missed the other times being working on investigations....:(
Tomorrow is siding day. My neighbor is a retired boarder patrolman. He's getting some upgraded trim (low maintenance) installed on his house (a 3-day job). So I guess we will have to fire up the BBQ and get plenty of beer!....:cheesy: We'll critique their construction efforts, also!......:notrust:
grandma
09-07-2006, 02:05 AM
Where to retire?
:cheesy: ...We'll critique their construction efforts, also!......:notrust:
...of the guys doing the siding, or of the ladies constructing the quilts???:cheesy:
Question?
It seems that my "Honey Do List" has been increasing!...........:notrust: ?
mayday
09-11-2006, 03:17 AM
The honey do list never ends does it? Seems like the only break I get is when I go to work. Retirement almost seems scary.
nnuut
09-11-2006, 07:03 AM
Honey Do list, honey do list! It's getting where I hate the weekends, wish I could work Overtime the whole weekend, then I might get a little rest.:( Thats why men die before their wifes.:notrust:
vol46
10-31-2006, 08:58 AM
Where to retire?
Seems like Florida or Texas would be the best for retirees, no state income taxes.
But for cost of living, I would think that asia would be better for those of us that would like to live on the cheap.
Later, Vol46
Brett
10-31-2006, 09:10 AM
Maybe I can finally get caught up on the lawn.;-)
pyriel
10-31-2006, 01:10 PM
Has anybody here thought of living outside the US even if it is just for several months of a year? I'm talking about exotic but cheap places like Mexico, Thailand, Philippines, Brazil, etc. etc.
vol46
10-31-2006, 02:04 PM
Have visited, Thailand, Costa Rica, and the Dominican Republic. Thought about retiring to one of those destination along with Panama.
The biggest drawback to retiring in a foreign country would be losing your medicare.
Tough decision, time will tell.
Later, Vol46
atcsat64
11-01-2006, 08:50 AM
Has anybody here thought of living outside the US even if it is just for several months of a year? I'm talking about exotic but cheap places like Mexico, Thailand, Philippines, Brazil, etc. etc.
Yes, I have. Currently learning Spanish for a few reasons;
1: We love to travel and have spent much time in the Mexico tourist/beach resort areas.
2: I currently live in South Texas.
3: If my retirement financial plan fails and I have to retire for mental/ medical reasons, I would definately look into south of our border. Many afordable places in Mexico, Belize, Costa Rica.
I've got 5 1/2 years till MRA, I plan to be fluent by then.
Rusty
Want2retire
11-11-2006, 11:27 AM
Where to retire?
Seems like Florida or Texas would be the best for retirees, no state income taxes.
But for cost of living, I would think that asia would be better for those of us that would like to live on the cheap.
Later, Vol46
I ruled out Florida due to the extra taxes on investment income, which I think they have, and hurricanes. I lived in Texas at one time, and the property taxes there are staggering. So, I ruled out Texas...but states get your money one way or another, so perhaps I really should consider Texas.
No matter how inexpensive, I don't want to live in a foreign country simply because I love living in this one. I can understand others' enthusiasm for places like Central America or Asia, but I would rather stay in the good ol' USA.
I'm thinking of southern Missouri. The cost of living is low, housing prices are low, crime is reasonably low, life is slow and mellow, and there are some pleasant-looking small towns there. I look at the real estate there online a lot and it's great day-dream material.
Show-me
11-11-2006, 12:14 PM
Northern Missouri. Try around Kirksville, MO. Very rural with good access.
Want2retire
11-11-2006, 12:20 PM
Northern Missouri. Try around Kirksville, MO. Very rural with good access.
Thanks! Will check it out. I'm going up to Missouri over Thanksgiving to look around again, and might have time to get further north, too. :)
Picking a location for retirement is good planning!
Make sure there are other retired folks around.
A friend of mine retired in a great sub-division, near a beautiful golf course. But every body around there works 9-5
About 50% of the folks are retired, about 30% still have jobs, and 20% are weekenders.
Uncle Sam has Golden Age Passports for 50% off at all federal recreation areas i.e., Corps of Engineers, etc... Plus, the disscount for selected annual pass, all good things to consider!
Want2retire
11-11-2006, 01:26 PM
Picking a location for retirement is good planning!
Make sure there are other retired folks around.
A friend of mine retired in a great sub-division, near a beautiful golf course. But every body around there works 9-5
About 50% of the folks are retired, about 30% still have jobs, and 20% are weekenders.
Uncle Sam has Golden Age Passports for 50% off at all federal recreation areas i.e., Corps of Engineers, etc... Plus, the disscount for selected annual pass, all good things to consider!
The idea of living around other retired people is definitely appealing. As I get older, I have less and less patience for other peoples' poorly behaved children tearing up my yard, loud parties on Saturday nights, and that type of thing.
Some retirement communities can be costly. But there do seem to be neighborhoods that have higher percentages of seniors than others, for one reason or another, even when these aren't restricted neighborhoods.
I've been looking at the census figures for various areas at http://factfinder.census.gov/home/saff/main.html?_lang=en
For some geographies, you can even map the percentages of residents over 65 to get an idea about neighborhoods.
Also it's important to me, to see what the local community has to offer for seniors. Activities? Classes in local colleges? Free walking paths or exercise areas? Libraries? And so on.
Birchtree
11-11-2006, 01:40 PM
I've been scouting western North Carolina for a summer home at higher elevations in the Blue Ridge mountains. Looking forward to the pain the real estate market will experience next year - becomes a buyers market with much discounting. There is always somebody to take opportunity of anothers problems - this time it's me.
You gotta have others around i.e., Who do you ask about getting your golf cart fixed! Where are all the good fishing holes!
The kids can come visit during Christmas and the Summer....What that really means is you get all the Halloween candy and there is one turkey you don't have to fight over!
I'm bad, I know it!........:cheesy:
Want2retire
11-11-2006, 02:29 PM
I've been scouting western North Carolina for a summer home at higher elevations in the Blue Ridge mountains. Looking forward to the pain the real estate market will experience next year - becomes a buyers market with much discounting. There is always somebody to take opportunity of anothers problems - this time it's me.
Good luck with that! Sounds like a great plan.
I'd love to buy my retirement home early, but (as you can see by my "handle") I'm not retired yet. Taking care of a house a day and a half's drive away (that I therefore can't visit very often) seems like it would be hard to do. I'd hate to have the pipes freeze solid, or something like that.
Are you retired yet? Do you live close to the Blue Ridge mountains? What do you plan to do, to take care of your summer home there when you are away? I would assume that you'd hire someone to cut the grass in the summer, and maybe someone to shovel the snow in the winter.
Been doing some figuring (Spaf math)
You gotta love the TSP program!
Using TSP, if you saved right, you should be able to retire and withdraw 4% or less annually.
Now the G-fund (the Lilly Pad) will replace the 4%.
So in a bear market you will survive.
In a bull market you need to off set inflation. Really your trading for a COLA.
Following tsptalk minimum investment: risk v reward; 50% (G/F) and 50% (C/S/I). You should be able to pick up the COLA at minimum risk, following the leaders on the MB at 50% of their risk.
Granted anytime in stocks there is a risk!
Maybe "rokid" could better analyze the probability factors.
However, it seems to me that TSPTalk members have a great advantage to manage their funds sucessfully, especially in retirement.
Just MHO!
Reards....and be careful!....:)....Spaf
clester
12-21-2006, 08:41 AM
I like your thinking Spaf. One problem I have is that I'll retire well before I can choose a monthly payment. I have to use 72t rules, which is great, but no "cola" until age 59 1/2 when I can change to a dollar amount per month. I plan on using 4-5% for my withdrawal rate.(reasonable interest rate). Hope to make 7-10% on TSP to make up for inflation so the allocations look good to me. Not too risky.
Wheels
12-21-2006, 10:12 AM
...but no "cola" until age 59 1/2 when I can change to a dollar amount per month.
You'll get a cola on your pension though so that'll keep you close to inflation.
rokid
12-22-2006, 09:14 AM
Maybe "rokid" could better analyze the probability factors.
I'm taking a little "in-house" annual today. :cheesy:
This is one of many Monte Carlo simulators on the web. It literally runs thousands of scenarios to determine the probability of success of your retirement plan. http://fireseeker.com/firecalc.php
The default values show you need $750K, with 75% invested in stocks, to draw $30K a year (4% withdrawal rate), for 30 years, with a 95% probability of success. If you change the stock percentage to 25%, your probability of success drops to 78% (I hope you like cat food).
Invest in stocks and you risk a bear market at the wrong time. Put it all in safe investments and lose out to inflation. You need a balanced plan - both stocks and fixed income investments. It's rough out there!:sick:
Thanks Rokids!
Retirement: So far, so good!
Now is not the time for retirees to be in a lot of stocks! The market is overbought and risk are high! It's not even the right season!
TSPTalk Premium Service gives advice on when funds should be more in cash than equities.
Retirees should be holding cash, maybe some in equities, but not more than the L-2010 fund. The risk is too high! Unless you are like BT with a financial strong-hold.
Retirement needs a long term plan, one with council from an accountant, to develop individual needs i.e., income, expenses, taxes, cost of living increases, etc.
If you want to be a "trader" you have to be careful! There is no need to risk your TSP account in retirement.
We have some very good moderators, might have to take some time off for a boat trip to Alaska! Never been there!
fapS
Regards and be careful
:D
Rug Rat Invasion!
Home invaded by rug rats!
All cookies devoured.
Refrigerator depleated of all ice cream.
Three fishing pole completely discombobulated.
Dog has lost 5 pounds.
The boat is out of gas.
and they are still at it!
1643
Gads I love dem rug rats!.....:D
nnuut
06-03-2007, 07:31 PM
You are one lucky man!!!:D:D:D
Cutest little rats I've seen lately! Ain't life grand!
I think I detect a little Barbie Doll Deficiency in their little eyes though.
Show-me
06-03-2007, 07:41 PM
Good look'n crew there Spaf! Keep'em sugared up for when Mom and Dad pick them up. lol
rokid
06-03-2007, 08:06 PM
CUTE KIDS!!!!!:laugh:
Retirement Planning!
I forgot to include in living expenses, a ICE CREAM depletion allowance. I had the COOKIES covered but forgot the ice cream!
I might have to sell some socks to recover from this one!......:D
1644
I did discover that it was Rug Rat # 3 that inflicted the huge losses to ice cream holdings!
Amazing: a 25 lb RR can eat her weight in ice cream!........:cheesy:
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