Living the dream, paying for that dream

[stevewool]

5 minutes ago, AlwaysRt said:

Ah yes, that was the 10 year plan wasn't it? Will that also put Emma 'in country' for 10 years? (I don't remember how long she has been there). If/when we go to the US there is an incentive for us staying 10 years also. It is the time period she needs to work in the US to qualify for her own Social Security. For us, saving for retirement isn't the issue, it is taking care of her after I check out. The other option is a 5 year stay so she can get US citizenship which brings blue passport privileges, easier access to spousal benefits including survivor benefits, etc.

Yes the great 10 year plan, 60 my age and after 10 years of Emma being in this country some sort of small state pension for Emma too.

But the Government changed that to 15 years now before you can claim?????. no chance are we going to be here another 5 for pittance.

She has a private pension with working for the NHS, and that will be a extra income when the time comes.

Emma is a British citizen now which is a good thing in  my eyes for the just in case and you never know, plus with the savings and the rental property plus my private pension we will both be fine, plus just like you if i go first Emma will have enough for herself to live comfortable where ever she would like to be.

[AlwaysRt]

Just now, Jack Peterson said:

Isn't odd sometimes, where it is all about MONEY and not about Quality of Life Money, doesn't buy happiness and health 

In my case, the entire US thing is really about me and the feeling of having a responsibility to take care of her after I am gone (and a bit about not wanting the aggravation traveling with her on a Philippine passport brings. It would be very nice if she could go anywhere I can go, including a visit to the US). She has never brought it up, it is always me thinking about her future after me (quality of life secured with... money), or me looking at travel and being irritated at her passport restrictions. 

Money doesn't buy happiness or health but it sure is nice not to have to work the farm in your 70s to eat and be able to pay for electric to turn the lights on.

[Jack Peterson]

Just now, AlwaysRt said:

Money doesn't buy happiness or health but it sure is nice not to have to work the farm in your 70s to eat and be able to pay for electric to turn the lights on.

I Don't but then, I never left it too late to worry about  it and that my friend, is a recurring problem here, many are so hesitant and it shows in many threads Topics call them what you want, Courage of One's own Convictions my Grandfather would have said . Just do it when the time is Right, Cos" time and Tide wait for NO man" 

[Gratefuled]

I'm not rich nor do I claim to be well off but I am financially secure. I'm more concerned with my health and not being a burden on anyone when I am old. 

My wife is an RN. She was Unit Manager at a local hospital before I asked her to retire and become a full time wife and full time mother. She takes care of my health and denies me a lot of the food that I like because she says it is not good for me. I gotta trust her. I have  lab work and a physical every 6 months. So far all is well. So, she is doing a good job. 

No, not "living the dream", yet but maybe soon. 

( living in the Philippines and in Davao city is more of a bad dream)

[Old55]

I agree with Jack. Life is a balance, reasonable plans & precautions for the future but don't forget to live your life in the meanwhile.

Steve, over the past few years I read with interest your questions or statements on when is the right time or what is the right place or how much is enough. I'm having very mixed feelings about retiring soon. I think you and Emma will know when the time is right.

[davewe]

6 hours ago, Jack Peterson said:

I Don't but then, I never left it too late to worry about  it and that my friend, is a recurring problem here, many are so hesitant and it shows in many threads Topics call them what you want, Courage of One's own Convictions my Grandfather would have said . Just do it when the time is Right, Cos" time and Tide wait for NO man" 

I agree.

It's inertia; guys will keep doing what they are doing even if they hate it, because it's familiar. Until a month ago I worked as an engineer at a large company that paid pretty well. I know so many guys who have worked there 20-25 years and still claim they cannot retire. 20+ years as a lead engineer there and you should be able to retire just about anywhere you'd want. And yet they all piss and moan about kids in college, the wife who doesn't work, etc. Most are envious of me even though I am confident that my retirement savings (based on only 10 years at the gravy train) and not nearly what they have.

In many cases they will wait until the company dumps them or until their health begins to decline. By then they may have less retirement options.

All this said it's still a very much personal decision. But if I could advise anyone (including my younger self) I'd advise them to do it sooner rather than later.

[bows00]

6 hours ago, Jack Peterson said:

Isn't odd sometimes, where it is all about MONEY and not about Quality of Life, Money, doesn't buy happiness and health 

Never understood when someone would say that "money doesn't buy happiness".  To me, it does if your starving and someone gave you some money for food, or if your living in the streets and someone buys you a house.  Money is an integral part of a happy, secure retirement - right up there with your health and relationships.  

It's like asking someone if he would rather give up an arm or a leg?    

[bows00]

9 hours ago, stevewool said:

But i have saved and saved some more, i am not into stocks and shares and investment but i have a few thousand in there as that was suggested  when i got a divorce and yes they have done well so far, Cash is king for me and while i know with the exchange rates around the world cash can go up and down too.

Nowadays, people are living 30 plus years into retirement - having a years worth of spending in CASH is recommended, but anything more will leave you susceptible to inflation that will slowly eat away at your spending power.  Learning how to invest in a well diversified portfolio, or investing in real estate for rental income would be better for the long haul.

[stevewool]

1 hour ago, Old55 said:

I agree with Jack. Life is a balance, reasonable plans & precautions for the future but don't forget to live your life in the meanwhile.

Steve, over the past few years I read with interest your questions or statements on when is the right time or what is the right place or how much is enough. I'm having very mixed feelings about retiring soon. I think you and Emma will know when the time is right.

Its funny when you are working and trying to feed a family and maybe a holiday once a year you dream of retiring, but when the dream is close you then start to think ,Oops what happens when i have no routine.

Yes i make a new routine.

With what is happening all over the world at this moment many would think its mad to go to a place where these things are happening, i wonder if world peace may happen in the next 19 months.

[stevewool]

15 minutes ago, bows00 said:

Nowadays, people are living 30 plus years into retirement - having a years worth of spending in CASH is recommended, but anything more will leave you susceptible to inflation that will slowly eat away at your spending power.  Learning how to invest in a well diversified portfolio, or investing in real estate for rental income would be better for the long haul.

I am happy with my plans for finance and i agree with many that money can make you stay at work for just having that extra income, but hopefully if i manage to live 6 years i shall have another income called a state pension, when that kicks in i shall be a millionaire , peso millionaire i must add.