Comments on: Your Retirement Lifestyle

By: Lizzie

Lizzie — Fri, 09 Jan 2009 13:21:00 +0000

Talk of health insurance makes me realise I take the National Health Service for granted. I wasnt (and still amnot) thinking of contributing at all to private health care. Ill health would be bad enough without having to bankrupt yourself for it.
Good luck, you are doing great.
Lizzie

By: Sharon Rose

Sharon Rose — Fri, 09 Jan 2009 07:33:00 +0000

Hi there-well, if all else fails, you’ll never go hungry being such a fabulous cook my dear Seriously, you are going in the right direction and by planning and organising finances now, I’m sure you will be able to start addressing the pensions side of things before long, good luck and a good post!

By: Money Funk

Money Funk — Thu, 08 Jan 2009 20:19:00 +0000

@ Ms. MoneyChat: I know what you mean about Social Security. I am not counting on it. Wow, you are doing really great. It sounds that you may just be A-Okay for Retirement! You remind me that I really need to find a way to increase my retirement contribution!

@ Mouse: It’s sad how we have no faith in Social Security. Yet, we have to keep paying them our hard earned dollars.
A pension, I will have. But I was along the same thoughts that it may not be a common factor. I am sure if we keep pf smart, we should do okay.

By: Mouse

Mouse — Thu, 08 Jan 2009 17:29:00 +0000

I’m surprised they figure in pension. Around here, at least, it’s kind of rare. I definitely won’t be counting on one. And social security. I imagine they have to fix the system but I won’t bet my retirement on it. Guess I’m in for a long haul.

I’m doing what I can by living on the cheap now and slowly increasing my retirement contributions. I hope to have rental properties in the future, as you mentioned.

By: Ms. MoneyChat

Ms. MoneyChat — Thu, 08 Jan 2009 14:09:00 +0000

you know, i generally don’t think in terms of retirement. if i accomplish the goals i’m trying to accomplish in the next 10 years, then i’m certain that my retirement will be a-ok. i hope to pay my mortgage off within the next 5 – 10 years, i contribute 15% of my income to retirement accounts and i have other investments and no other debt. i guess i’m on auto pilot. i don’t have a pension and i’m not expecting social security to be around. hmmm, perhaps i need to look a little past 10 years and see if i’m on track for retirement. good post.

By: Money Funk

Money Funk — Thu, 08 Jan 2009 13:25:00 +0000

@ Lizzie: I like the travel part. I can live with simple means too. But want to make sure I have enough, just in case. Health insurance will be a rather important to me at retirement time, too. Thank you for your thoughts. They are good ones.

@ Saver Queen: In the U.S. we have the Kelly Blue Book to use for auto value. I am sure it would work in BC (that is where you are at, right?) to get a general idea. But, don't hold me to that.

By: Saver Queen

Saver Queen — Thu, 08 Jan 2009 13:21:00 +0000

Just a question – how do you calculate the value of your vehicle? I’m guessing mine is not worth much at all, but I’m curious.

By: Lizzie

Lizzie — Thu, 08 Jan 2009 09:23:00 +0000

I assume that my retirement costs will be the same as currently but without any mortgage or debt repayment. Maybe with only one car but otherwise pretty much the same. My pension is a final salary pension which will pay a maximum of 60% of my final salary. Assuming I work for another 15 years I will have aquired 30/60 of my possible pension. Bearing mind that I pay 3/4 of my salary to debt/mortgage then it should be just fine. Finding an employer with a good pension scheme was important but the main thing is really enjoying the simple life means I dont need to spend. Travel, books, somewhere to live, thats it. I dont mean to sound too pleased with myself, just encouraging. If you plan from an earlish age and have reasonable expectations then it will all work out fine.
Lizzie