Retirees: What Are The Expenses You Didn't Count On For Retirement?
upsoldtimer
Well-Known Member
Getting my circle beard professional trimmed baby...
upsoldtimer
Well-Known Member
that's "professionally"
Xexys
Retired and Happy
One thing I noticed right away when I moved from NJ to AZ is here in AZ they put a property tax on vehicles. It depreciates every year of course but still, it's a burden that I didn't plan on since NJ has nothing of the sort. Now, real estate taxes are a different story...I was paying over 6 grand in NJ for a 1200 square ft home on less than a quarter acre of land. Here in AZ, I pay just over 1700 for a 6 bedroom home w/2900 sq ft of space with a pool on a corner lot. Huge difference! State taxes are a little higher here; 8.1% compared to 7% in NJ, but when I first got here they were 9.1% and we voted down the increase last elections as they were only supposed to be temporary.
I didn't lose any provider service at all. Everything stayed the same. I would think that since you worked in California that you would receive the benefits that all Californians receive no matter where you moved.
Xexys
Retired and Happy
I had divorced just before I retired and 2 days before my divorce went final I hooked up with my HS sweetheart and married her 4 months or so later. She lived here in AZ and I was planning on moving somewhere out of NJ anyway. I didn't check the taxes because as I said, she lived here. It was just a surprise with the car tax. It's really no big deal, just thought I'd throw it in just in case somebody was interested in moving here. The pluses surely outweigh the negatives in my case. I could/should also mention that in NJ there are no taxes on clothing and here there are. Most of the NY population goes to NJ to buy their clothes if they live close to the border thus taking away tax revenue from NY. Always thought NY should do something about that.
Thought I would add my own thoughts on retirement. I am officially retiring on March 31 so it is fast approaching! Definently looking forward to it! I agree with a lot of what's posted on here, also adding it is very important to be on the same page with your significant other on retirement issues. My wife and I are in total agreement on pension options and where to live. Also, other than what will be a smaller mortgage balance, we will have no other debts. Between the pension significant money in our retirement accounts and my Wife's rental in Oakland, we should be in fairly good financial shape. We will be leaving one of the highest cost of living areas in the country (the Bay Area in Ca.) and moving to Oregon.
Most important, have all of your financial ducks in a row and agree on where you will live out your retirement years. Most importantly retire while still young and healthy enough to enjoy it. I'll be 53 4 weeks after retirement and we both plan on maintaining a healthy lifestyle and to live a happy retirement! I wish all of you the same and will keep you posted.
morecowbell
Member
I'm retiring at age 52 after 31 years. As with most of you, the health care costs concern me the most,especially the $200,000 per year cap under teamcare. I am still active until June 26th and we are still fighting here in western Pa. For a better contract, but it is tough making the younger workers realize they need to think about retirees concerns even when they'll be in the same situation one day. By the end of this contract monthly premiums will be 8 times what they are now. That, along with decreased care across the board, ( script coverage, out of pocket expenses, etc.) make retirement a little scarier than it should be.
UpstateNYUPSer(Ret)
Well-Known Member
You could always work 13 more years and go right in to Medicare.
Catatonic
Nine Lives
I retired 3 years later than I originally planned, in part, due to your concerns. Keep working until the level of risk is acceptable.
morecowbell
Member
No thanks. I've seen what 44 years at ups did to a coworker and I'll take my chances going while I'm still healthy. My point is that the company can afford to subsidize our healthcare but I don' t think our union pushed enough for that to happen.
morecowbell
Member
Truly, there should not have been risk. If the union would have asked for equal healthcare to what we currently have we would all be in a better place. There isn't even a maintenance of benefits in teamcare. They can raise deductibles, reduce levels of care, or increase out of pocket expenses if they wish. All that being said, I'm still retiring. Luckily I saved while working.
stealth8
Well-Known Member
I retired 18 months ago, at the age of 54. I made the decision to do so by making some sacrifices, and smart financial decisions throughout my career. We lived within our means, paid off the mortgage, put money into the 401k, UPS Stock Program, and also funded some IRAs. We have two sons and only one of them went to college,and we were able to pay for that, so he could graduate debt free.
Spending 33 years in delivery I took note of some senior drivers that unfortunately had to extend their careers do to divorce, overspending , having children late in life,and numerous other reasons. When they were finally able to leave they did it out of necessity not choice,as their bodies were breaking down. A lot of them left and had to find other full- time work to survive.
I by no means am perfect, but I prefer to learn from other people's mistakes. My wife and I decided that when the time came for me to retire it would be to " retire" and to have the OPTION of working again if I chose to do so. The first year of retirement was spent traveling to places that we have on our " bucket list"! New Orleans for Mardis Gras, Bermuda for our 30th anniversary, two months in the OBX of NC, Colorado, and California. We love to travel and are looking forward to doing a lot more in the future.
I did take on a part-time job as a starter and ranger at a local golf course working 2 days a week. I only get paid minimum wage but I am entitled to play free golf at a $90 a round course. They are very flexible with scheduling ( unlike you know who), so it doesn't get in the way of our excursions.
UPS was a great career for me. For someone that never went to college I felt blessed to put on the browns in 1979! Never in my dreams did I believe I would be able to retire before the age of 60! I guess that the best advice that I would always give to the rookie drivers was to consider your UPS career a marathon, not a sprint, and even though you will be working your ass off for 30+ years, if you live smart you will be rewarded! Cheers to all current UPSERS and my fellow retires! Stealth
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Spending 33 years in delivery I took note of some senior drivers that unfortunately had to extend their careers do to divorce, overspending , having children late in life,and numerous other reasons. When they were finally able to leave they did it out of necessity not choice,as their bodies were breaking down. A lot of them left and had to find other full- time work to survive.
I by no means am perfect, but I prefer to learn from other people's mistakes. My wife and I decided that when the time came for me to retire it would be to " retire" and to have the OPTION of working again if I chose to do so. The first year of retirement was spent traveling to places that we have on our " bucket list"! New Orleans for Mardis Gras, Bermuda for our 30th anniversary, two months in the OBX of NC, Colorado, and California. We love to travel and are looking forward to doing a lot more in the future.
I did take on a part-time job as a starter and ranger at a local golf course working 2 days a week. I only get paid minimum wage but I am entitled to play free golf at a $90 a round course. They are very flexible with scheduling ( unlike you know who), so it doesn't get in the way of our excursions.
UPS was a great career for me. For someone that never went to college I felt blessed to put on the browns in 1979! Never in my dreams did I believe I would be able to retire before the age of 60! I guess that the best advice that I would always give to the rookie drivers was to consider your UPS career a marathon, not a sprint, and even though you will be working your ass off for 30+ years, if you live smart you will be rewarded! Cheers to all current UPSERS and my fellow retires! Stealth
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UpstateNYUPSer(Ret)
Well-Known Member
Plan now so that you can retire on your terms, not theirs.
oldngray
nowhere special
You should plan but can never anticipate every possibility. There are many things beyond your control that can wipe out savings so all you can do is plan and hope for the best.
Catatonic
Nine Lives
That's the way I see it.
After running 1000 Monte Carlo simulations on market results since 1920 and coming back with 98.2% success rate of having $100,000 at the time of both of our deaths, I decided to make the plunge.
Now if that damn asteroid will stay away for 30 years!
upschuck
Well-Known Member
You're not worried about the 1.8% chance of being bankrupt? Living on the wild side are we?
rod
Retired 23 years
I know I'm not worried about going broke. I've seen way too many welfare skumbags who's only problem is that they are just too firkin lazy to work. I would go get me some of those food stamps and fuel assistance and some low income housing and live happily ever after-----------------------------and I would vote Democrat---if someone hauled my lazy rear to the polls and bought me a dinner and a few beers.
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