How much do YOU think YOU need to retire? ...and at what age will you (and spouse) retire? (Part 1)

[mom2collegekids]

<p>I think that looking/planning ahead for your retirement home can be a wise thing. if you have the time, you can wait for an amazing deal to pop up and jump on it. </p>

[busdriver11]

<p>@jym626, mandatory retirement is at 65. It used to be 60, and the change really irritated us. Now all these old guys won’t get out of the seat…get outta there! People need to die or retire for others to progress, and I’d rather them retire.</p>

<p>But the planning early for retirement doesn’t depress me, just planning to be disabled does.</p>

[mom2collegekids]

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<p>There is something infinitely depressing to me about planning too early. I was talking to this guy at my work who just had it all planned out. He was probably in his early sixties, and him and his wife had built their retirement home in their mid forties. It is all one level, wide doorways, no stairs, handicapped access rails.
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<p>the one-level, wide doorways, no stairs is a wise decision. If I could, I would wait to install any access rails until necessary. </p>

[Silpat]

deleted for privacy reasons

[jym626]

<p>You are right, Silpat.
DH has an office on the main floor of the house. When older s graduated and took his bed (a waterbed, who remembers those??) from his room, we moved the sofabed from DHs office up to DS’s old room. Well,wouldnt you know, shortly thereafter DH broke his ankle and leg and tore a ligament, and we had to get friends to come move a twin bed from the basement up to his office so he had somewhere to sleep. Fortunately there is a full bath on the main floor so he could shower. Definitely no fun.</p>

[jym626]

<p>I was on a flight that was the pilot’s final (retirement) flight (with the water hose greeting on the tarmac and the whole 9 yards). I happened to be sitting with his family (not on purpose, just by happenstance). That was a whole lotta fun!</p>

[TempeMom]

<p>I’ve read recently that many professionals who have had to do desk work/commute have retirement dreams of “getting back to the earth” in my workplace a senior person retired to grow grapes/wine. But, as said before, okay at 60 but less so at 75. Lots of hard work that can’t be put off “til next week.”</p>

[busdriver11]

<p>Did you get sprayed, jym?</p>

<p>I don’t think I’ll plan what is going to be my last flight. That seems like you’d jinx it. After 40 years of safe flying, you’d manage to bend an aircraft or hit a truck while taxiing. Or do the hardest landing of your life. I think one day after a nice flight and a smooth landing, I’ll just say that now I’m retiring, and walk away quietly.</p>

[Sohoist]

<p>Once you think you have concluded the amount of income in retirement you think you can survive on: see if you have enough principle.</p>

<p>retirement income divided by .05 equals the principle needed to sustain that level of retirement income.</p>

<p>$50,000 / .05 = $1,000,000 investment savings growing at 8%. 5% for income and 3% for inflation.</p>

<p>Biggest investment negatives in retirement are inflation, expenses (cost & fees), and taxes. Currently, inflation and taxes are at their lowest in the past 50 years, and in my opinion cost and fees are at their highest. So protect your investment by learning how to be a sharp consumer, use the online tools to compare the cost in your mutual funds. Attack cost and fees.</p>

<p><a href=“http://■■■■■■■.com/n73jjpz”>http://■■■■■■■.com/n73jjpz&lt;/a&gt;&lt;/p&gt;

[jym626]

<p>The plane got sprayed with the fire truck hoses, yes, busdriver. And it was an international flight. Long party!!</p>

[HImom]

<p>Wow, have never heard of fire truck spraying plane for final flight. Fascinating!</p>

[SlitheyTove]

<p>

There is something infinitely depressing to me about planning too early. I was talking to this guy at my work who just had it all planned out. He was probably in his early sixties, and him and his wife had built their retirement home in their mid forties. It is all one level, wide doorways, no stairs, handicapped access rails. It just kind of creeped me out, already planning on being disabled in one’s forties. I plan on running half marathons, biking and rock climbing through my eighties. Maybe even longer. I don’t want to plan so young for disability.

</p>

<p>You’re going to find me equally depressing, then, because the spouse and I started doing this in our 40’s. Whenever we need to do some remodeling or replace something, we’ll use any options that improve accessibility. We bought a one-story home intentionally–it was a boon when one of our kids was in a wheelchair following an accident, and it’s continued to be a boon as our parents move through their 80’s. The increasingly elderly dog appreciates it, too. </p>

<p>I don’t see anything depressing about anticipating continuing to go hiking and biking while also making contingency plans, be it for housing or having resources for long-term care. </p>

[Silpat]

deleted for privacy reasons

[TempeMom]

<p>I skimmed a book a while back called “Nextville: amazing places to live your life” by Barbara Corcoran (of Shark Tank fame) where she examines trends in retirement. FYI. </p>

[HImom]

<p>When H and I bought our home, we were thrilled it was all one story. He grew up in a home that was 66 steps from the street to the front door. That was really a challenge when his mom broke her hip and she and his dad wanted to age in place there. Visiting in the rain with two kids in arms was also a challenge. </p>

<p>We have a nicely accessible home, tho our doorways are a bit narrower than many wheelchairs. Have not yet installed any grab bars and hope not to need them. It was a perfect home to raise our kids and now for aging in place as desired. </p>

[Nrdsb4]

<p>

Jym626, y’all were smart to have a full bath on the main floor. I understand why some people like having their bedroom upstairs, but I hated when one of our kids bought a 2 story house with only a powder room on the main floor. Within the first year, both spouses had been hospitalized and had a very rough time with the stairs when they went home.

</p>

<p>We recently bought a home with the Master upstairs (placed there for the view). It also has an elevator, which we thought was a smart move by the builder, though of course was of no value to us other than resale value. I was glad to have it when I brought my stepmom over, as she is disabled. Within a couple of months, however, it really came in handy when I sprained my ankle and later when DH hurt his back. Guess I was wrong about the “no value to us” sentiment. :D</p>

[sax]

<p>okay this is gruesome but watch that elevator…</p>

<p><a href=“Home elevator becomes death trap for elderly Georgia couple stuck inside | Fox News”>http://www.foxnews.com/us/2010/07/16/home-elevater-death-trap-elderly-ga-couple-stuck-inside/&lt;/a&gt;&lt;/p&gt;

[jym626]

<p>There was just an article on line somewhere about that house and whoever bought it. Pretty GA isle setting, though…</p>

[BunsenBurner]

<p>Wow, sax, I was just about to post a link to the same story published in the Seattle Times. That was one of the saddest stories, IMO. Elevators freak me out, so I plan on using the stairs for as long as I can. :)</p>

[jym626]

<p>My bad-- I think maybe it was this older thread I happened to run across recently <a href=“Would you buy this house? - Parent Cafe - College Confidential Forums”>Would you buy this house? - Parent Cafe - College Confidential Forums;

<p>The elevator had been having problems.</p>