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Originally Posted by barbara
I'm getting close to retirement and have a lot of questions... Any retires here that can give advice?
My thoughts are that my spending habits will change in retirement. Won't have to buy clothes for work, won't be spending money on gas for my daily work commute.
And that sounds like I'm saving money for daily living expenses..... But does it really work out that way? Are those savings from not working spent in other ways during retirement? Will my day to day expenses be more or less than when working?
I realize the answers depend on many variables.... I'm just trying to figure it all out.
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Might go up at first as you get use to being on holiday all the time. But if you set a budget realistically one. Keep track of your spending for a few months. See where the money goes now.
Everything from a stick of gum to utilities. Once you are home all the time things like eating out, gas for car should drop off. There are days when we might not cook at all.
Quote:
Originally Posted by barbara
Right.... That's my other thought. Sure, the longer I work the bigger the monthly check in retirement, but at what point does that not matter any more?
A co worker put in thirty years, said his good byes and as he left work on his last day he keeled over on the steps leaving the building and died of a heart attack. Not the way I want to do things. I wanna have some time to enjoy retirement!
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Never get the years back. Do you have hobbies or interests to keep you busy. Grandkids? Me I pretty much turned the papers in when I reached 55.
I lost my health insurance when my retirement went to the government program. My wife's will do for now but once she retires probably not. They can due whatever they want. Now they say it will go for 5 years for a spouse. So till I reach 65 might have to pay for it.
Barney