Talk to me about retirement

[halo]

Im not unhappy with my taxes here in Florida....no state taxes, my property taxes are $1000. I figure I save on electric being here, also, since there are a lot of times I dont need to run a/c or heat. I have looked into western N.C.; Im not sure I can deal with those winters, tho. Im sure heating bills are more than my a/c bills.

 

[chickerdoodle]

I find this could be a very interesting and maybe even helpful thread!!

I am 52 and DH is 55 and we are concerned if we will be able to retire by 65. We have one of our homes paid off in full that is currently rented, we also paid off a luxury oceanfront condo that we own 25% of (there is a quarterly fee for grounds and pool maintenance, taxes, etc. though) and are paying down the home we are living in now which is probably the one we will stay in (the chickens are here!).

We both will get small pensions (if our employers don't cut them with this economy!) and we both have 401K's that we still add to monthly. We both lost a nice chunk of $$ in our retirement funds with the mess the last few years so that's a really big bummer in our plans and may make our retirement date further out than we had hoped (wanted to retire at 62).

I am thinking if we get SS, our small pensions and the 401Ks hold out I still don't think we'll be rolling in dough. I am hoping we can at least be comfortable. I know the biggest drain will be taxes on the homes and there is always $$ you need to spend on them for upkeep and repairs as well as supplemental health insurance. Sheesh. I can't wait to retire or at least work part time!

 

[joebryant]

Quote:
When my kids FINALLY graduated from college, got married, and moved out, our disposable income doubled. If we'd know before and/or during how much we were/were going to be spending on them all those years, we'd've sold them at birth.

 

[PineappleMama]

An article just popped up on Yahoo... thought it might pertain... here's the link and the opening volley.

http://finance.yahoo.com/focus-reti...ire&cat=fidelity_2010_getting_ready_to_retire

The 10 Worst States for Retirees

Plenty of folks are aware of the best states for retirees. But what are the 10 worst states in which to spend your golden years?

People of Illinois, California, New York, Rhode Island, New Jersey, Ohio, Wisconsin, Massachusetts, Connecticut and Nevada — you probably already know the answer.

The list, with Illinois leading the pack, comes from website TopRetirements.com. According to John Brady, president of TopRetirements.com, the 10 states earn this dubious distinction largely because of three factors: fiscal health, taxation, climate.

That website, TopRetirements.com, might be worth taking a peek at.