Retirement Visions

With just 9 more years of the working life I find that my mind is constantly focused on my visions of retirement. What will retirement look like for me when I hit the age of 65 and can lock in on a lifetime medical plan that I have been contributing to all of my working life?

Like most Americans I am worried after listening to all of the so called experts who constantly remind me that I will not have enough in retirement savings to allow me to retire at age 65. I certainly do not agree with most of their advice due to the fact that they base their advice on the beliefs that I want to maintain my current lifestyle. The truth of the matter is that as comfortable as I am right now, I certainly do not see myself maintaining a lifestyle that is fit for a rat who is busy running a race at a pace which is exhausting, but at times also exhilarating.

I see myself living a life of quiet solitude in a small retirement village for half a year while taking to the road in a small motorhome the other half. With grandchildren all over the country and so many sites to see and visit it sounds like a grand plan for retirement.

The plan itself sound pretty straight forward and affordable, but it also comes with several rules that I must obey to reach such a goal.

  1. The small retirement home I choose to purchase must be paid for. In other words there can be no mortgage payment.
  2. The motorhome too must be paid for in full with no monthly payments.
  3. Between a social security check and a few small pension checks and an annuity check from investments must be able to support this type of lifestyle.
  4. I must be healthy enough to maintain this type of lifestyle for many years.

To make such a dream an actual reality in just nine small years I must stay true to maintaining this minimalist lifestyle. I must continue to contribute and concentrate every living and breathing dollar to paying this house off in it’s entirety. Once the house is paid off I must then use those same dollars towards a Roth IRA based on an index fund.

I know that these visions of a promising future are simple in the form of visions can actually become less promising one day if all of the steps to prepare are not tended to.

No, I do not need 1.5 million dollars in the bank to retire, but I do need a plan in place to maintain a lifestyle during retirement that would allow for both the security of a small home and the excitement of traveling.

Who knows, nine years from now my wife and I may feel differently, but we both know that the sacrifices we make today will provide us with a whatever lifestyle we choose.

 

 

About SimpleLivingOver50

At 53 years old I am starting to realize how life changes both physically and emotionally. I strive for a life of simplicity. I am winning the battle with type II diabetes, created a plan to have all debt paid off in 4 years including the house, taking advantage of every opportunity to live life to it's fullest through adventures in nature, hiking, biking, loving and learning.
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41 Responses to Retirement Visions

  1. Chrissie B says:

    Sounds like a realistic plan!

    • I suppose that having a plan and planning are two different things. I know I have to take the bull by the horns now if I expect to live comfortably in the future. I see too many people in distress in retirement.

      • Chrissie B says:

        Yup, you are so right. My friend is determined to retire in January. She has been talking about “looking into her papers” for at least a year now. Has she done it? Nope. She cannot afford to retire and that just does not seem to be sinking in. Since turning 50, that is all i think about. I am motoring on paying down debt and throwing as much cash as possible into my RRSPs and TFSA. Like you, I don’t want to live beyond my means, I just want to live comfortably and enjoy life.

      • It sound like you too are focused. I really have no clue as to how long I’m going to live, but I do know that careful preparation is in order. Life can be very challenging and often times depressing for retired folks just trying to survive. I think retirement should be a celebration of life.

      • Chrissie B says:

        Women in my family live a long time. I personally hope to see 100! Now is the time to start setting ourselves up with new hobbies and explore all the stuff we’ve been putting off. I’ve started a bucket list of sorts with respect to travel and personal goals. The nest is now empty and yes it does get a little lonely at times, but then I turn to blogging and other things and it passes.

      • Yes, the world is becoming a smaller community thanks to technology. I too anticipate living to 100 and what I do today will dictate the life I live tomorrow.

      • Heres how the 20 somethings feel about the “AMerican dream” .
        Im with them (and Im 51)

  2. God's girl says:

    Both of your pics look like a wonderful place to live!

  3. Noddfacrafts says:

    Good plan but your main focus is on today and the here and now. Remember Adventure before Dementia!

  4. What I most pull away from you post here is that you have a focus A goal. Certainly admirable to me as . I get it. I will add that Ive tossed my goals. (My blog posts tell that story)
    Goals are socially acceptable. “Prudent. ” (dont believe all your told)
    Goals keep one leaning forward- focused on outcome.(Goals also begat more goals, keeping us “running) This keeps one Missing out on today. The cool buzzword for this is “being present”,
    Missing out on today can make us sick. today. Because if we are not present we are not aligned.
    Retirement “system” and idea is bullshit anyhow. (As we know it here in the US).
    Meditate. chill a bit and think. You know what to do. YOU know.
    (Hint- As a reader of your work,I discern you have some question of the next “9 years”
    Thats for you to discern. 🙂
    Peace.
    Scott

  5. It’s nice to have dreams and ambition. I love your idea of cruising around in a motor home for 6 months, I told my husband I want to tour Europe in a motor home when we retire too. It may well never happen but it’s lovely to daydream about.

    • It’s nice to have dreams even if they may not actually come true. But as long as a dream is alive we may still be able to live out a part of that dream – like maybe a 30 day railway trip around Europe.

  6. suzewannabe says:

    Does it make sense to own an RV (insurance, storage) or rent and try various models? What do the number tell you? Price per trip?

    Just curious as a fellow math nerd…

  7. suzewannabe says:

    I did some math nerd sleuthing
    rvtrader.com
    the RV pictured above is “Class B”, smaller, more nimble

    Most common price around $50,000 for a 10 y.o. model

    Example:
    *4 trips/year for 10 years w RT miles of 2400 miles (say to the Grand Canyon)
    *40 trips =$2,500
    *gas at 20mpg @ $3.00/gal future guess
    $360
    *Insurance $100/mo ($400 per trip)
    * Meals $500 in future/trip
    * RV park fees $10/night * 30 nights $300

    * Total cost/trip $4,160

    Annual cost:$16,640

    Hmmm..interesting

    • Paying for a service is stellar- example: Owning shit is over rated. Letting someone else own the shit you use is magic.(renting)

      • I agree with you only if owning a small home needs to be financed. Renting is cool because it gives us the flexibility to move whenever we want without being tied to a house, but it will ultimately be the motorhome that will provide the same freedom. I actually own very little as it brings me much comfort and less stress and don’t see that changing in the future.

    • If is affordable within a retirement budget then it is 100% worth the experiences. We cook all of our own meals and dislike eating out. Many nights would be spend boon docking so there will be no park fee. All utilities would be turned off at the house while on the road.

  8. suzewannabe says:

    And then I looked at rentals. Yipes!
    $6800 vs $2,500 per trip

    So, there’s your answer. I mean, this math nerd’s answer 😀

  9. Mishmash Media Blog says:

    We have a few years to go too, but are planning financially. I think the secret is to keep things simple and spend on doing things such as travel and try to save where you can. You can usually do a part time job here and there, if necessary. Like your idea of spending half the year in a motor home. Sounds fun.

  10. Dorothy says:

    Very common sense approach. Good luck to you.

  11. kkeevins says:

    I retired four years ago and I STILL can’t believe it. Prior to taking the plunge, I went for financial planning TWICE (couldn’t believe it would actually work out) to be SURE I wouldn’t be starving and homeless!

    SURPRISE! I’ve lived it now and what an incredible gift it’s been. I’m still in awe. I rarely enter a store, other than for food, because I need nothing! I gave away my suits, heels, professional attire about a year after I left. Because I need none of that nonsense, I have more money for the things I want to do: theatre, museums, etc. traveling is wonderful, because I have no schedule that blacks out blocks of time that I can’t go. It’s a very different lifestyle, Bill. I don’t know how I ever had time to work!😂

    Good luck to you — get ready, because the time flies. All of a sudden you don’t have to get up at the crack of dawn to go to work. It’s spectacular — and I loved my job! There’s another life out here waiting for you. Get ready to enjoy your fantastic plan!
    From Kathy at:
    Diaryofadedicateddiabetic.wordpress.com

    • kkeevins says:

      Sorry if I rambled.

    • Pretty Awesome Kathy. I don’t know too many folks who don’t adjust their lifestyles when they retire. I know that I will lose the need of so many things I have today. It’s all built around the working life.

      • kkeevins says:

        Bill, there have been adjustments; none that threw me into a tailspin, though. YOU taught me about minimalism and that’s really where it’s at! What I don’t need could fill three houses and I’m doing my best to get rid of “stuff.” If I don’t love it …OUT it goes. Donating or selling! It’s fascinating how much I’ve gotten rid of, and I’m not done yet.
        I’m also cheap as hell — FRUGAL? NO — cheap as hell. So that’s helpful. 😂

  12. Herb & Kathy says:

    You’ll do fine, especially that you’re planning for nine years down the road. We only planned for about eighteen months and retired at 62, noting that the difference in SS income was minimal, deciding to take it early. We have SS, wife’s small pension, annuity income. We sold the house and became debt free including the coach. We workamp as we travel to pay the site rent and utilities so that really helps the budget. From Ohio, gig in AZ last winter, MI this summer, and TX this coming winter. Having a blast and the budget is flush. Good Luck, have fun, you’ll do fine.

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