No. of Recommendations: 5
Not sure I fit on this board but I need some feedback by people who know pitfalls. I think we're in good shape now, but that could change really fast.

Today is the first official day of my retirement. I will be getting $3300 a month before taxes. I'm leveling SSA with my government pension. I'm 54, so Medicare is a long way away. DH is still employed and grosses $6000 a month. Before the hating starts, please realize I have gotten into scary debt before and dug back out, but some of that was by using inherited funds, and was a one-time deal.

My concerns:

My health insurance will be $590 a month to keep it with my employer. I've shopped around and am getting quotes of $800 a month. I'm pretty healthy, but the ADHD meds and anti-anxiety meds I was on seems to scare ins. companies. I would like to keep my current insurance for 12 months after stopping at least the ADHD meds, which I shouldn't need now that I'm not working.

Because of screwy family dynamics, I've been paying $495 mortgage payment on a house family members live in for "free". They have spent lots of their own money to rehab the house and land, so it was worth it to let them live there, but now, both adults are working full time. I would like to ask them to buy the house for enough to pay off the mortgage ($60K)--I don't really want to get into them paying me monthly, because that seems like a recipe for resentment. So, bringing up the issue of them buying the house is my goal for this month.

We owe $7000 on a vehicle--we have $32k in savings @1.25% interest and the truck payment is @6%--I'd like to just pay this of but DH hates to pull out savings.

Our house payment is $750, we owe $110K--I would like to pay this down or off before DH retires (no set date for that yet).

Our cell phone bill is $290, covering 3 phones and mobile internet. Now that I'm not working, I want to trim our package considerably (lots of my cell time was work-related).

Our cable/digital phone/internet is going up every month, now $224 a month. I want to see if satellite service would be cheaper. I'm a little jumpy about ditching the land line because of the 911 feature, but we never use it.

Right now, we are paying off our CC every month. But we now will be doing projects and maintenance that we've put off forever and don't know what that will cost.

We have two high mileage cars (over 120k miles) and one newer car. DH wants to give one high mileage car to our grandson and buy me another car. I want a used Camry around $18k and pay in cash. He thinks we should get a new Camry at 0% interest and make payments. He expects to work for several more years, but he's 60 and has been eligible to retire with 30+ years for some time.

We are not saving enough. I haven't budgeted for what I can put into savings with my retirement (I was putting $200 in a MM and $240 in my 401k, but can't do that anymore). He is not putting anywhere near enough into his 401k--$300 a month on an income of $92k a year. 6% of his pay goes towards his retirement plan. He has about $55k in his 401k; I have $83k. We have another $115k in mutual funds.

I don't know what our Federal income tax will be WRT my retirement. I don't have to pay state taxes but he does on his salary.

Want I want:
with not commuting 75 miles a day, and not recreationally spending because I'm stressed from work (which I have done way too much) my income will be enough to meet what I usually pay and leave some for savings in a MM.

I want to keep Netflix at $10 a month, World of warcraft at $14 a month, internet and cell phone service but cheaper than now, Booksfree at $20 month (may let that go).

I want to socialize, knowing that all my friends are at least 45 minutes drive away. Same for taking recreational classes.

I want to get our house and property in good enough shape so we won't have $$$ expenses facing us when DH retires--trees taken down, house exterior cleaned and treated (log house).

I want to keep good insurance, even at $590 a month.

I want to have a savings plan that will get us mortgage free by the time both of us are retired, and "enough" savings to support us, especially if Social Security and/or pensions get cut.

I want to get some contract work, but not for six months or so.

I feel like this post is rambling all over the place. I'm just fearful of a history of being spendy, especially when bored or stressed, and not knowing what retirement will be like, living in the middle of nowhere with no local friends and not much connection with the community. I know me, and I could fill my time with $$ activities and purchases and rationalize it very well, put off selling our other house, and put off continuing to build savings. And this board has a rep of keeping people accountable.

Right now, things look solid, but I feel like I'm going into uncharted waters with a history of bad habits. I've paid power bills (at my job) of elderly ladies who had fixed incomes that would have seemed lavish when they were 40, but in 2010, was not enough to meet their needs. I don't want to be one of those ladies.

cm
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