Running Out Of Money

[Curley]

 

I certainly hope you are not one of those expecting to live to age 100. 

 

Thats why we marry young wives so they are still able to work and support us in our dotage.   :hystery:

 

 

Maybe better to two or three wives to ensure a better standard of living?

[Tukaram (Tim)]

 

Thats why we marry young wives so they are still able to work and support us in our dotage.   :hystery:

 

Maybe better to two or three wives to ensure a better standard of living?

 

 

Hmmm.... I will suggest that to Melane... I will let you know how it goes (as soon as I get out of the hospital ha ha)   :tiphat:

[Curley]

 

The biggest risk that retirees face is running out of money before they run out of life. You turn 65 and the government says life expectancy is another 20 years. Add 5 more as insurance. So how do your organize your finances to last 25 years until your 90th birthday? I certainly hope you are not one of those expecting to live to age 100. 

 

 

For many years this was a worry to me and prevented me retiring but after speaking to many people older than myself they all said that as they got older they spent far less than they expected that they would. In reality I was planning for a lifestyle and spending power at the same level as I had been used to but on reflection I realised that I didn't need a million dollar house or an expensive car. I can be just as happy in a cheaper house providing it is spacious and comfortable, I only need one bedroom (unless I hook up with a single mum). I'm told that as you get older you eat and drink less and you don't feel inclined to travel as much so expenses there are far less.

 

As many of you will know I've bought my retirement home and have plans for growing all my own fruit, veg and fish and will refurbish my house so my future is sorted with pensions and investments ................ and yet............. I still have a hankering to build a stunning house of my own design on an equally stunning plot of land. I keep telling myself to slow down and enjoy my retirement and forget fancy dreams.

[robert k]

After I became disabled I realized how much it cost me just to go to work and all the things I bought for work. I used to fill the car up twice a week and now I fill it up twice a month. I'm not buying tools, gloves, safety eyewear, boots, work clothes. It probably cost me $1,000 a month just so I could continue working.

[Bil Brock]

 

The biggest risk that retirees face is running out of money before they run out of life. You turn 65 and the government says life expectancy is another 20 years. Add 5 more as insurance. So how do your organize your finances to last 25 years until your 90th birthday? I certainly hope you are not one of those expecting to live to age 100. 

 

I have NO pension except USA Social Security. Retired @ 57. Just go ahead & do it if you think you can. We have lived in Cebu for almost 3 years and will continue to. Don't expect to run out of money. You don't know when you will die unless you are on death row, so just go for it!

[JJReyes]

What I like about this forum is we all spent time thinking about the activities that can be enjoyed in retirement without spending too much money. This includes no activity except perhaps to drink beer at home or in a bar. 

 

The forum focus is relocating to the Philippines. That in itself requires a conscious effort and preparation time. Having an asawa or girlfriend is an excellent idea since as humans, there is a strong desire for companionship. I consider myself one of the lucky ones finding my soulmate more than 40 years ago and sticking together all these years.

 

My wife and I would like to travel while still physically able. It is a little scary since we will be abandoning all that is familiar. The decision to sell everything developed over time, but it is an irrational one for most people. As the aging process slows us down, our contingency plan is to relocate to the Philippines. 

 

And hopefully we don't run out of money even if our two children claim they will be there for us should this happen.

Edited August 27, 2013 by JJReyes

[joeatmanila]

The way I see it and plan it is get some business which gives you income without you required to work. Ofcourse a pension for life is the perfect income but how much will cover the inflation and the continuous rising cost of living here is another story.

A business will cover inflation and rising costs, pension will not.

Come on guys, go out and have a few beers more, spend to some lavish....peso is 44+!!!!!

........OR.......Become a politician, represent all the united nations expats plus sexpats who live here and start receiving the pork barrel!!!!! hahahhaahahahah!!!!!!!! I promise I will use it wisely to project you will all love...

bars without karaoke, restaurants with PROPER food, import juicy USDA steaks, cheeses from Europe, wine in affordable prices and fair quality, and for my fellow sexpats bars with nannies to change their diapers!!!!! hahhahahaahah

I do have a great morning!!!!

[Tukaram (Tim)]

Although I did not do it purposely as a money saver, I think one of the most helpful things I did was get a girlfriend.  If I was going out with a bunch of girls I would blow a LOT of money.  We stay home most of the time, and she does not spend much when we go out.  So it has really worked out well financially - not bad in other ways too....   :tiphat:

[russellmania]

I retired last month with a lifetime pension and I will not work again for a paycheck. Instead I let my rental property bring in the extra cash for me! I like easy money,not hard money!

[Thomas]

Ofcourse a pension for life is the perfect income but how much will cover the inflation and the continuous rising cost of living here is another story.

( I aim at moving several years before I reach retirement age  (delay depending of injury, not economy)

 

The obligatoric Swedish retirement deal is for life AND suppoused to keep inflation, but still to see what happen with the curency, and if politicians will follow the agreement - they seem to have a free card for scaming... :1 (72):    :)

 

The Swedish pension system is kind of a Chain letter type of "scam". A few years ago the politicians found out the system wouldn't manage to pay all retired in the future, so they are starting raising the retirement age in steps from 65 and up.

 

But they add some scam against us moving abroad. When by the move we NOT use the hard SUBSIDIZED health and age care, they REDUSE the retirement pay!!!   In many cases even much  :bash: