"When I retire ....."

[Jenny in Florida]

IF money were not an obstacle, I'd want to live somewhere on our own where there was lots to do but not in the form of "planned activities to keep the old folks active." I'd just want to be somewhere that had things I liked to do and made access to doing them relatively easy.

 

If I could do anything and live anywhere, I'd probably choose Manhattan (assuming, again, that budget is not a consideration). Readily accessible public transportation to take me anywhere I need or want to go, tons of things to do to fit any mood, etc.

 

In reality, I don't think I will ever "retire." I assume i will continue working at least part-time until I simply can't any longer. And, unless something major changes and we become independently wealthy in some miraculous way, my "retirement" years will likely be spent in a plain vanilla, boring apartment complex here in Orlando. 

[Tammyla]

My dream retirement would be some place warm, where snow-blowers, snow-shovels, and layers are never necessary.  I'd enjoy living in a small gated community (not a retirement community persay all ages welcome, but where no one has the yard from #*&^ or is super noisy) with a pool, gym with all the outdoor maintence done by someone else; oh, and close enough to walk or bus to shopping and other city things. 

 

We rented one in Arizona for a week a few years ago and it was pretty awesome.

 

 

Dh isn't planning to retire until after 67 or later.   I'm of an age already, that our two story with a full basement home is a lot to maintain and my knees  & back no longer love the stairs.  I do want a place where my kids and any possible grandkids are welcome and nearby if possible.  The local retirement centers are definitely not my idea of a place to spend my golden years.

[Walking-Iris]

50? Retirement?

 

Nah. I have absolutely no concept of older age meaning I have to start thinking of the end of things. I have a dear friend who just turned 50 and he's out west hiking, exploring, kayaking, and living in a school bus for a few months. I have another friend (old boss) who is in her mid 60s who went to Everest base camp.

 

I would like to hike the entire AT trail. Travel to Europe. 

 

Retirement communities with amenities? Never in a million years. I'd like to live quietly with my DH and be involved in my children's adult lives/families punctuated with periods of adventure and creativity. 

 

 

[happypamama]

I cannot picture us in a retirement community; we'll find our own activities and amenities.  I expect it'll be just the two of us, but it's very likely that we'll live with one of the kids or they will live with us.  But retirement is easily 20 years off right now, so IDK.

[MIch elle]

My dh is planning to retire in 3 yrs at 55.  He still wants to work but only part-time (consult or teach a few classes) if he can work it out.  I consider myself already retired.  We plan to stay in our home for another 10-15 yrs.  But during those yrs and after, we plan to be flexible - snowbirds, rv-ing, retirement community - who knows! 

[Night Elf]

Okay, I voted a planned retirement community but I don't necessarily need activities. I would probably get annoyed if the community put pressure on me to do activities. I'm worried about being in my own home and my DH dying before me. There is simply no way I could handle a house on my own even now let alone when I'm old.

[Jean in Newcastle]

My parent's retirement community has tons to do - if you want to do it.  No pressure at all.  My parents are 89 and 92 - they can't drive to their own activities.  But because they live in a retirement community in their own apartment, my dad can still sing with a choir that he joined, my mom can take art classes and both see friends in the restaurant style cafeteria.  We've had to be much more involved in helping them with medical stuff but would not be able to help them with the social stuff - it would be just too much.  And actually even the small medical stuff is easier in the community because there is someone who comes out to cut toenails if they want to sign up (a big deal for a lot of elderly), there is a nurse who helps with blood pressure readings (again if you choose to go do that) etc. that means that they just have access to a lot of little things that keep them healthier and happier.  

 

Then I see my ILs who are in their own house.  Other than family they have no social outlet any more and miss it.  FIL should absolutely not be driving but he does because if he gave up the car they would be cut off from every thing unless family members stepped up to provide it for them.  We do provide a lot of help for them but it is difficult to do on a daily basis which is what they really need.  

 

So much depends on your ability to drive and get around, I think.  

[shawthorne44]

Yeah, I can't see a retirement community either.  I don't even like the idea of a cruise.  I see a crowd doing something, and I go the another direction.  I do love love love games, though.  So, I won't mind living near one and making friends and being invited in for a game.  

 

[MIch elle]

My parent's retirement community has tons to do - if you want to do it.  No pressure at all.  My parents are 89 and 92 - they can't drive to their own activities.  But because they live in a retirement community in their own apartment, my dad can still sing with a choir that he joined, my mom can take art classes and both see friends in the restaurant style cafeteria.  We've had to be much more involved in helping them with medical stuff but would not be able to help them with the social stuff - it would be just too much.  And actually even the small medical stuff is easier in the community because there is someone who comes out to cut toenails if they want to sign up (a big deal for a lot of elderly), there is a nurse who helps with blood pressure readings (again if you choose to go do that) etc. that means that they just have access to a lot of little things that keep them healthier and happier.  

 

Then I see my ILs who are in their own house.  Other than family they have no social outlet any more and miss it.  FIL should absolutely not be driving but he does because if he gave up the car they would be cut off from every thing unless family members stepped up to provide it for them.  We do provide a lot of help for them but it is difficult to do on a daily basis which is what they really need.  

 

So much depends on your ability to drive and get around, I think.  

 

Thanks for sharing, Jean. 

 

That's the thing, it all depends on the age & abilities.  My ILs are in the process of selling their home of 50 yrs and are on the list to get into a retirement community.  They SHOULD NOT be driving but my MIL still is driving out of necessity.  The faster they get into that retirement home, the better everyone in the family will be.  (ILs both have mild dementia, among other health problems.)  They cannot take care of their property OR themselves properly without everyone taking care and/or worrying about them. 

[BrittanyM]

I have no idea... My DH is 31 and I am 26 so we have a ways to go and as my DH is self-employed anything we save we'll have to save ourselves. Right now our goal is to have our house paid off in 8 years minimum (which will be 13 total) and then we'll have much more money to work with. At that time we'll probably start to save and travel more, our kids will be 13, 11 and 8 so a good age to do that. We would also like to do some longish term missions trips as a family at that point as well.

[Erin]

Personally, I've never really understood the idea of moving somewhere else for retirement.  Maybe if the kids both settle in the same place, quite a ways from us we might, but otherwise?  This is where our friends are.  Our organizations.  Our connections...

I'm already living where I want to be when I retire.  I've designed our new house to be convertible to walker/wheelchair accessibility in our dotage, the kids' rooms will be easily modified into a guest suite, and so on.  We'd like to travel when we retire, but the plan is that this will be home-base until the kids put us in The Home...

[catz]

I would not make plans based on my kids.  I know if my in-laws followed us or showed up in our driveway for a few months, I would not take kindly to that.  So I wouldn't assume that would be awesome for my own kids and any spouse they may marry. 

 

My parent live in the winter in a HUGE retirement community in Arizona.  There is enough diversity there that you can be in a "fun" crowd, a "depressing" crowd, or be a loner.  The "fun" crowd has been great for them.  My dad hiked miles and miles in the mountains this winter, they golf several times a week, my mom does a community band, they went on a cruise, etc etc etc.  My mom is an introvert and has found a good balance for herself there.  They have a single family home, so they have plenty of their own space.

 

We have no hard plans for retirement yet, although we are maxing savings for that time.  I suspect we'll make some firmer plans as time goes on.  I have a hard time thinking 15+ year out.  We have fantasized about places we'd like to visit and things we'd like to do.

 

ETA - my parents have a place in AZ because of weather.  We live in a very cold climate in the winter.  They do still come back here for summer.  Phoenix area is crazy hot and pretty unlivable in the summer IMO.  They also have other relatives and local friends with places in AZ, so there is overlap for them.

[Erin]

 

 

I would not make plans based on my kids.  I know if my in-laws followed us or showed up in our driveway for a few months, I would not take kindly to that.  So I wouldn't assume that would be awesome for my own kids and any spouse they may marry.

To be fair, of the people I've seen do this, it was usually a really close family, and it was at the insistance of the kids, not the retired parents.  

[HRAAB]

A retirement community and my introvert of a dh - never.  I know we want to eventually downsize and hope to get out of the suburban area.  A smaller town with some culture and activities, a hospital and doctors, but still close enough to our kids to visit.  My older two act like we're abandoning them when we talk about moving out of the state.  In any event, neither of us see us retired where we now live, but who knows?  Ideally, a smaller house on a largish lot where we can garden and putter around with shopping and restaurants accessible by walking, and no harsh winters.

[FaithManor]

Personally, I've never really understood the idea of moving somewhere else for retirement.  Maybe if the kids both settle in the same place, quite a ways from us we might, but otherwise?  This is where our friends are.  Our organizations.  Our connections...

I'm already living where I want to be when I retire.  I've designed our new house to be convertible to walker/wheelchair accessibility in our dotage, the kids' rooms will be easily modified into a guest suite, and so on.  We'd like to travel when we retire, but the plan is that this will be home-base until the kids put us in The Home...

Some people do not have those connections where they live at the time they leave the workforce. We will not. This area is rapidly being abandoned for lack of jobs. Churches are closing, schools are closing. There is nothing here for our grandchildren, most certainly nothing here for our adult children in terms of employment. So if we chose to stay put we would be hundreds if not thousands of miles away from our family.

 

We could still choose to do it. But, it doesn't seem practical if we want to be a part of our grandkids lives. None of our kids are likely to live close to each other because of the wide variety of jobs they are looking at - Freshwater Conservation and Ecology with Auxilary Coast Guard involvement, Science and or Political Journalism - the desired goal being to someday write for National Geographic, Archaeology, Scientific American, or other similar magazine...at the least, a major news correspondant and that means NOT mid-Michigan, Aerospace engineering - again not Michigan at all - and our dd and her hubby will probably always be East Coasters somewhere along the NYC to Washington D.C. corridor because what he does for a living involves contracting with a company that does training software for the military. We are a three hour one way drive from an international airport. So, in terms of being involved in our adult children's lives, this location is not going to be practical and I'd much rather give up my church or this house than give up being able to easily travel to my adult children's homes or go grab my grandkids and do something grand with them.

 

Many people will leave the workforce and not be in their forever homes, and some will not be able to afford the COL where they are currently at once their income drops. Then there are those that will move for healthcare access reasons.

[Laurel-in-CA]

Not be able to afford the COLA....that's us for sure. Traveling distance to family and medical facilities....and minimal snow....are our considerations.

[Guest]

The "Forever" House we moved out of 1.5 years ago was in a neighborhood of 25 houses built in 1962 or earlier.  At this moment, 1/3 of the houses have their original owners--and there were two more original owners until the past 18 months, when they passed away.  

 

I had some interesting conversations with the Original Owners, all of whom would have been upper middle class or lower upper class to be able to afford these houses when they were built.  ALL of them were worried that they would have to sell their homes because they could not afford to live there anymore.  They were on fixed incomes, and even though they had been well off and saved and invested, they had not anticipated the skyrocketing property tax increases.  In 1990, property taxes were $3000-$3500 a year.  By the time we moved, property taxes had increased to $15,000-$25,000.  With the exception of the property taxes, these people were living out their retirement plans in houses they owned free and clear.  With the exception of their ONE vote, they had nothing to say about the dramatic increase in living expenses.  

 

Thankfully, people spoke up, and the legislature passed a tax exemption for people on fixed incomes who had lived in their houses longer than 30 years.  But a couple of families had to leave, as they had retired to this area "only" 25 years ago.  

 

THAT is the kind of thing it is impossible to plan for. 

 

My grandfather bought a piece of property in 1960.  By 1995, his property taxes had doubled 7 times (yes, as in 2, 4, 8, 16, 32, 64, 128).  He had to sell the property because he couldn't afford the taxes.  He was able to get a reverse mortgage, which let them stay at their home, but when they had to go to assisted living, they had to spend all they had left on that.  

 

Things like this that are out of your control have to be considered when you are thinking about how much cash you need to have accumulated before you retire.  And by "retire" I mean "get on a relatively fixed income"--not "stop workin' for The Man but still earn money."  Once you are on a fixed income, it is MUCH harder to get a line of credit, a mortgage, or any unsecured loan.  And even secured loans are not easy, really.  So you'd better be able to self-finance roof replacement, remodel, etc.  And other surprises.  LIke property taxes.  

 

 

[lynn]

Dh and I want to be campground hosts for a koa in Maine after dd graduates. We will be retired a few years before she graduates

[Audrey]

.