Comments on: The Retirement Nest Egg Basket Case – These People Actually Live on Earth

By: Lee

Lee — Fri, 11 Sep 2009 01:16:30 +0000

I could comfortably retire on the $60k alone, nevermind the £1.7m in the bank. Some people have their priorities so backward if you gave them $100m they’d probably still struggle.

Our society is too… too … something. Whatever it is, it’s too much of it. Simplify, Frugalise and Reduce. Then you’ll be happy.

By: Wilson Pon

Wilson Pon — Fri, 04 Sep 2009 06:51:25 +0000

To be honest, although both of my parents are over 60, and have claimed the pension, but they’re still need to do some part times jobs to sustain their living, as the current pension is merely enough for the house and car mortgage!

By: marci

marci — Tue, 01 Sep 2009 21:20:27 +0000

RB – yep the income tax is a dis-incentive to make more money
But watch out for the sales tax in WA.
Gorgeous country out here tho – in either state

By: MoneyNing

MoneyNing — Tue, 01 Sep 2009 17:52:31 +0000

I live in Orange County (Southern California) and Emma and I can be happy with about $3k a month. This includes utilities, rent, groceries and everything else.

$68,000 is plenty for two people even if you are in LA, especially if you have your mortgage paid off.

By: RB @ Financial Samurai

RB @ Financial Samurai — Tue, 01 Sep 2009 17:17:30 +0000

Marci – Oregon rocks. I may retire to Seattle, to save on state income tax

Better safe than sorry. Shoot for $134,000/yr to get $90,000 a year.

By: DDFD @ DivorcedDadFrugalDad

DDFD @ DivorcedDadFrugalDad — Tue, 01 Sep 2009 16:04:53 +0000

Assuming their mortgage is paid off, $134,000/yr in retirement sounds a bit excessive, but hey, I would take it . . .

By: marci

marci — Tue, 01 Sep 2009 14:17:14 +0000

RB – To retire on little, I think you need to be debt free AND have your housing paid for – ie, no mortgage and little taxes/insurance. I paid cash for my little house and paid cash for the upgrades – so no mortgage. My insurance is under $400/yr and my prop. taxes are under $800/yr – so at the moment, that’s well under $100 month for taxes and insurance. My utilities run $80-$100 month – water, sewer, electric. It’s a 1000 sq ft 2 bedroom 1.5 bath with a nice attic for storage.

I live in the beautiful Pacific NW – coastal NW Oregon. Temps are mild and cool – but winters are VERY rainy Have to be able to deal with a lot of rain. Gardens grow great, and the bay, rivers, and forests provide a lot of food and firewood, as well as recreational activities. There’ s not a shopping mall within 50 miles…. so it’s not for everybody – but there is a great hospital so we do ok.

There are a lot of rural places that provide low cost alternative lifestyles… but I’d guess you have to forgo the big city for them.

By: RB @ Financial Samurai

RB @ Financial Samurai — Tue, 01 Sep 2009 04:08:38 +0000

$68,000 is not enough if you live in San Francisco, LA, NYC, and perhaps Chicago. Other cities, it’s probably enough… but for two people? I think it’s a stretch.

Two bedroom apartments cost $4,000/month to live in Manhattan for example. That’s $48,000 in after tax income right there. How is $68,000 enough? Downgrade to a 1 bedroom, and it still costs $2,500, or $30,000/yr.

Marci/Seth/David – Where do you guys live?

By: marci

marci — Mon, 31 Aug 2009 20:58:36 +0000

Seth – THANK YOU! So good to hear someone actually doing what I planned on doing – and knowing that it works

By: Seth

Seth — Mon, 31 Aug 2009 20:30:22 +0000

I’m retired and living on $30,000 a year. I golf almost every day, I surf the web and laugh whenever I read retirement articles like this one talking about needing so much money.

It’s never enough no matter how much you have because you can always find a way to use it, but you will need surprisingly little if you actually use your head before you spend.