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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 886223  
Subject: Retire on the cheap Date: 1/2/2013 3:01 PM
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– and still get endless sun! Research shows you can live on less than a grand a month in world’s 'best value' countries

According to new research retired couples can lives on a budget of less than $1,000 (£612) a month if they are willing to look oversees
40.3 million people aged 65 and older in the U.S. and 10 million in the UK

Some of the options may be preferable than the rising costs at home

(list follows with pics)

Read more: http://www.dailymail.co.uk/news/article-2256031/Worlds-best-...
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Author: MissEdithKeeler Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870053 of 886223
Subject: Re: Retire on the cheap Date: 1/2/2013 7:45 PM
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You know, I used to think I might move to one of those countries and retire cheap.

But then I realized that I can retire cheap here at home, and enjoy being close to family and friends I've known my whole life, and can enjoy all the good things that being a US citizen, in the US, has to offer.

I could live, right now, in Memphis, TN for about $1200 a month. This figure includes a grocery budget of $200 a month, a pet budget of $200 a month, a budget for my property taxes of $200 a month, car insurance at $100 a month, cell service and Internet, my monitored alarm system, and gas for my car. It does not include health insurance; right now, I'm working and I have health insurance through my employer.

But I own my own house, in a country with a stable government, and although everyone complains about crime in Memphis, living here I know the reality is not even close to what the media makes it out to be, and I certainly feel safer here than I suspect I would in Mexico City.

And for this I have access to a great public library system, cultural things I enjoy, great medical providers, and am close to family and friends. I know I can get on a plane and go other places I want to any time I want; I don't have to worry about a weird coup or travel restrictions on me as a foreigner that could possibly be imposed, and a lot of other stuff. I'm familiar with the laws and rules here.

I think that there are a lot of places that you can live VERY reasonably if you look at how you're living. Once you're retired, you're not tied to a specific place for a job. I think my second choice (right now) for a retirement spot would be Galveston, Tx. Reasonably priced real estate, easy access to Houston, AND it's on the beach.

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Author: Lea77 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870057 of 886223
Subject: Re: Retire on the cheap Date: 1/3/2013 9:32 AM
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I think my second choice (right now) for a retirement spot would be Galveston, Tx.

Just watch out for hurricanes!

I do agree about being able to retire cheap in the US. I live in Arkansas which is priced similarly to Memphis and as far as crime, any city is going to have some but if you know where to live and where to go you can avoid most of it. Or you can move to the country, where it is even rarer, although apparenlty you have to worry about wild dogs there.

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Author: Gingko100 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870064 of 886223
Subject: Re: Retire on the cheap Date: 1/3/2013 10:41 AM
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I think, except for property tax, you can retire pretty cheaply anywhere if you have your house paid off. I plan to retire in place here in CA. If I have my house paid off, I can live on $2.5K a month, which isn't bad.

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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870070 of 886223
Subject: Re: Retire on the cheap Date: 1/3/2013 12:31 PM
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I think, except for property tax, you can retire pretty cheaply anywhere if you have your house paid off.

=======================================

That depends on where you live. Here in WA low income home owners, seniors and disabled, can get a waiver/exemption for their property tax.

Jean

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870087 of 886223
Subject: Re: Retire on the cheap Date: 1/3/2013 4:10 PM
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Or you can move to the country, where it is even rarer, although apparenlty you have to worry about wild dogs there.

And coyotes their wild cousins.

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Author: WendyBG Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870089 of 886223
Subject: Re: Retire on the cheap Date: 1/3/2013 5:09 PM
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<I realized that I can retire cheap here at home, and enjoy being close to family and friends I've known my whole life, and can enjoy all the good things that being a US citizen, in the US, has to offer. >

I completely agree and rec'd your post.

There are many lists of great low-cost places to retire in the U.S. Many of these are small cities or even small towns that the typical big city slicker (such as myself) would never have considered but actually are very, very nice...and low cost.

You can even take a quiz asking for your preferences in terms of culture, educational opportunities, availability of public transportation, climate and many others which will sort them out.

Some locations have special senior programs. For example, in a year, when I turn 60, I will be allowed to audit college courses FREE if the class has an opening (after paying students enroll) -- this is not income-tested.

My county has subsidized electric power and property taxes for low-income seniors. My town has a lovely apartment building with a social room, movie room and gym for low-income seniors. The town built a special paved pathway from this building to the Wal-Mart 1/4 mile away for seniors who use electric wheel chairs. The local Senior Center has basically round-the-clock classes for a membership fee of $35 per year. Bicycle trails abound and go for miles.

Some areas of the country are trendier. My area (the Pacific Northwest) is famously grungy so high style consists of a matching blouse, earrings and jeans. High heels? I have seen 3 women wearing high heels in the 10 years I lived in this town. Nobody does "dress to impress." I buy "new" clothes (often second-hand) just for a change of pace.

I live on 1 acre, with a veggie garden and 15 apple trees surrounded by woodland, with a small 1987 house plus a small 1947 cabin. Property tax = $1700 per year. Car insurance for 2 cars + a pickup truck = $140 per month. Homeowner's insurance = $50 per month. Landline phone about $55 per month (includes DSL). ISP = $18 per month. Tracfone which I paid $160 for 2 years of service (hardly ever use it). Dish TV $43 per month. Electric bill about $80 per month. We have electric heat but almost always heat with our wood stove.

I spend a lot on food but that's because I want to. I could cut back in a heartbeat if we had to -- this is "bottom up" LBYM which is very flexible.

By far our biggest expense is health insurance. This is a HUGE separate issue.

Our weather in the "rain shadow" of the Olympic Mountains of Washington State is famously mild. We are USDA Zone 8 (I leave gladiolus bulbs in the ground all year). If the high temperature rises above 80 degrees in August everyone in town complains (very rare, since highs are usually about 65). We usually get 1 snowstorm per year that lingers about 3 weeks -- that's winter. The temperature almost never drops below 30 degrees.

The entire town is set up for its large senior population, including centralized medical services.

Personally, I wouldn't choose Galveston because it gets too hot. But others might not like the PNW because of the cool, damp winters. "Snowbirds" have 2 residences, which could be LBYM depending on one's means.

It is absolutely possible to retire on the cheap in nice places all around the country. Before choosing a permanent retirement home, it would be fun to tour the U.S.A. looking at many of the choices.

Wendy

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Author: LLRinCO Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870092 of 886223
Subject: Re: Retire on the cheap Date: 1/3/2013 5:38 PM
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I like this web site to look up information on various American cities. Looks like crime rate is pretty high in Galveston - much higher than the national average. It also looks windy!

http://www.city-data.com/city/Galveston-Texas.html

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Author: Brooklyn1948 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870231 of 886223
Subject: Re: Retire on the cheap Date: 1/8/2013 7:34 AM
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Yes, but how safe would you be? My husband comes from Mexico and we would never retire there. Too much corruption, crime, etc.
I mentioned to someone yesterday that one could retire in Ecuador for $900 a month and he said it would not be safe. I expect if Americans retire in gated communities in some of those foreign countries, they would be OK. As for me, I'll take my chances here in the states. We are retiring in a few months and will be leaving the very expensive city of Manhattan for a small town in Massachusetts. We will be reducing our housing expenses by more than 50%. Overall, we will be reducing our cost of living by 50%. We are grateful that we are able to retire at all.

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Author: jrdown Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870709 of 886223
Subject: Re: Retire on the cheap Date: 1/19/2013 4:53 PM
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Kahuna ~

I will retire in my 2 bedroom condo on the Pacific in Kailua-Kona, Hawaii 96745. Bought the Condo for cash in Spring 1994.

That is so great! I know you will appreciate the glorious weather compared to Kansas/Missouri winters. Of course, there is lots to love about the Midwest but, as I get older, I appreciate warm feet and hands.

The past few weeks I have been watching a show on HGTV called, "Hawaii Life" and have been very surprised at the affordable pricing. I am guessing that their real estate also had a downturn like all of the nation but there is a lot to be said for not having to deal with heat or air conditioning. I have some friends that have a large condo in Maui and they are there for 3-4 months during the winter. The rest of the time they are in Colorado and enjoy their waterfront home as well. They have four children whom they home school so it is great that everything is so portable and life goes on. My best to you and I am so happy that you have made wise decisions that will make your retirement a great one! When do you plan on permanently residing in Hawaii?


Robyn

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Author: voelkels Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870716 of 886223
Subject: Re: Retire on the cheap Date: 1/20/2013 7:13 AM
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I know you will appreciate the glorious weather compared to Kansas/Missouri winters. Of course, there is lots to love about the Midwest but, as I get older, I appreciate warm feet and hands.

I let DW retire in 1998 and I took a early retirement in 2000. We live about 40 miles north of N’Orleans as da vulture flies, so the winter weather ain’t too bad, no. we were in Ohio 8 or 7 years ago and were driving west to Indiana with oldest grand daughter for Thanksgiving. We had been up there for a week or 10 days at the time and there was a dusting of snow on the ground. Suddenly DW straightens up in her seat and said “Now I remembers why I wanted to leave Ohio for the south. No sun!”
;-)

C.J.V. - of course we gots hurricanes, himacanes and udder storms, us

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Author: RoadScholar5 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 870863 of 886223
Subject: Re: Retire on the cheap Date: 1/25/2013 3:08 PM
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<<By far our biggest expense is health insurance. This is a HUGE separate issue.>>>

Would love to delve further into this topic.

I often gnash my teeh over the issue. I can stay in my current position as a civil servant and within 6 years, become eligible to retire with full health care benefits (meaning, I can stay on the employee plan in retirement and pay the same premiums & co-payments, etc.) that an employee would.) or I can leave now and take a position with a much better salary immediately, if I want to return to the private sector.

I am trying to wrap my head around the proper valuation for the health care benefit in retirement.

RS

PS - considering part time retirement in Peru/remainder of the year in the U.S.

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Author: MisterFungi Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 871045 of 886223
Subject: Re: Retire on the cheap Date: 1/29/2013 1:17 PM
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My wife is retired and I am now semi-retired -- will retire fully in June of next year. We are spending our first extended stay here in Waikiki, where we bought a condo (for cash) a little over a year ago. We have been coming to Hawaii regularly for more than 25 years.

I can see the beach from our lanai, and Diamond Head. And the mountains out our front door. A good-sized grocery store is next door. Perhaps 20 restaurants are within a three-block radius. We can walk to the beach in 5 minutes. The weekly farmers market is a 15 minute walk.

I wake up smiling every morning. I often laugh out loud at the sheer wonderfulness of it all. And I am a Type A+ kinda guy.

Last night, we ate at a local restaurant. People at half of the tables were chatting back and forth in conversation, although I don't think anyone knew anyone else. It's called "talk story" here. It's part of the culture.

Yes, housing is expensive. But if you don't require a 3+ bedroom, 3+ bath house, it is manageable. Yes, most groceries cost more, as does gasoline.

But the beach is free. The parks are free. You can walk almost everywhere, or take a bus ... on which you are likely to find yourself in conversation with other riders. You can watch live music or entertainment every night of the week, if you wish, for free or for the price of a beer.

We rent a car from down the street if we need one for a monthly big shop, or a trip to the North Shore. It's like 35 bucks for the day, plus top off the tank. I have a coupon for a free weekend day.

We bought about half of our furniture at a store that liquidates furnishings from the upscale hotels, at pennies on the dollar. Some of it (our lamps, for instance) is surplus that was never unwrapped. People don't believe it when we tell them what we paid for our chair, or coffee table, or patio set, or the lithographs. It is lovely.

We have no heating or a/c bills at all. If you open the windows on one side of the apartment and the sliding door on the other side, you have gentle trade winds wafting through all day long.

We are not rich. We saved and invested prudently for decades and LBYM as a way of life.

We also travel to Europe every year. Many people cannot begin to understand how we do all this. It isn't difficult if you don't end up having lots of useless "stuff" owning you. We know people who spend hundreds of dollars every month to keep their excess stuff in storage lockers. Amazing, and a bit sad. We'd rather travel.

Fungi

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 871049 of 886223
Subject: Re: Retire on the cheap Date: 1/29/2013 1:43 PM
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We know people who spend hundreds of dollars every month to keep their excess stuff in storage lockers.

I had a friend in the Army who paid big bucks to store stuff in a rented space. When he suggested he buy a storage shed at Lowe's for about five times the monthly rent he was paying he declined saying he didn't want to tie himself down. Hell, he had years to go on his assignment and could have just abandoned the shed (passed it on to the next occupant) when he left.

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