Net Retirement Income vs. Net Working Income (pensions, 2015, retired)
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Travel can be overrated. I booked and budgeted money to travel 4 months this year in Europe. I'm glad to report I'm going home earlier than planned. Luckily I booked using frequent miles so I can change my travel dates without costing money. I think I tested my limit. Next time it will be a lot less than 4 months, perhaps 2 months.
We have no grand kids yet but the adult kids missed me and my cooking. I miss my own cooking. Living out of a suitcase and eating out for months can be tiring.
we limit trips to no more than 2 weeks . headed to nashville in a couple of weeks . being a drummer that is the land of my people lol . hoping to sit in on a few jams.
we have a birth in october of our 4th grand child and then it's off to charleston .
I have it planned out that my disposable income, or spending money as I call it, will be the same in retirement as it is now. Even though my income will be less, we will have no mortgage and will be living in a state where property taxes are 1/4 of what we pay now. There is also no state income tax.
Overall, not much will change except that I won't have to work and can do whatever I want (within reason).
we limit trips to no more than 2 weeks . headed to nashville in a couple of weeks . being a drummer that is the land of my people lol . hoping to sit in on a few jams.
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Not sure how many of these you'll find. Mostly singer-songwriter open mics.
I'll adjust my lifestyle to wherever I've gotten to financially on the day I retire. I'm unemployed starting September 1 so I'll be re-planning based on what transpires in my professional life over the next several months. My plan of record was to keep working until my after-savings cash flow was the same. That was supposed to be 7 years from now.
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