Preplanning, retirement thoughts, and what am I gonna do???

You know, as writers, we are all experienced with preplanning, aka outlines.  But how often do we apply that to life?  In a loose way, of course, we all do as we budget our paycheck income against the expenditures we expect each month, plan to buy school clothes and supplies for the kids, or budget for your commute costs.  And so forth.  But we tend, to a large degree, to be either unable or unwilling to plan far enough ahead, say, to have a cash down payment for a new car, or to save for our retirement starting in our 20s when the money will grow far more than when you start saving in your 40s or 50s.

Moi, I was one of those who would have loved to have saved back in the day, but I lived in an expensive area and kept being laid off to boot.  Paycheck to paycheck living wasn't by choice or failure to budget.  I didn't live high on the hog and I didn't have satellite tv, cable, or any ridiculous extras.  (I for sure didn't have my book buying addiction. I preferred to have food to eat!) And now that I have been living in a cheaper area where I can own a house and have a well-paying job with a great retirement plan...I bought a money pit house and still haven't saved as much as I'd like (although I am saving a hefty chunk each month.)

Thing is, I retire in seven years as of last Sunday, August 1.  That is, if I feel I have enough money socked away.  This sort of Big Event does make you think about what you need and what you'll be doing with yourself before (and after) to make it work.  Lifestyle and income changes.  Different costs.  Different choices as to what to do with my time.  (Different means of writing avoidance, perhaps?)  My plans are complicated by the desire to travel in the winter for at least 3 months (aka Snowbirding) to get away from the crazy cold and snow blowing that limits my ability to get out and walk; and also by pets and my aging mother. 

Neither the pets nor my mother are problems.  Far from it!  But I have to consider their needs as well as my own in this retirement gig.  Just like the Egyptian vacation was far higher class than I'd likely have bought for myself alone, the snow birding venture needs to be more than a crappy old camper on the back of a pickup truck...which is what I might consider for myself, lol.  (You should have seen how I managed to get a 7-day vacation in Paris for about $1400 including food, lodging and air fare.  Ah, the memories.  And Madre will not be subjected to those sorts of accomodations by me, ever.) 

So I'm thinking about either buying a self-contained rv, or whether to make my very own conversion camper from a U-Haul panel truck.  Or, which may be the likeliest scenario, buying a small house in Louisiana, Florida, Alabama, or some other area that doesn't tax federal retirement pensions and also doesn't have ridiculous vehicle smogging processes like California does.  (Some things are just too much trouble to deal with, and I had had it with California's ridiculous smog emissions bs before I left the state.)  Another option is to rv and buy a couple of plots of land with power, water and sewer where I can park my rv for a few weeks each year.  Decisions, decisions... And then there's factoring in how much cost there will be to set up the chosen scenario.  I know it'll be cheaper to just stay in Maine for the winter, after all.  But I really want to travel in my retirement, and winter is the perfect time to leave my state.  I like it here in the summer! 

In any case, I'm sort of inclined to buy a used 24' Class C rv with 2 beds and maybe get the plots of land on which to park them.  Or at least one plot of land in a state where I could maintain residency and save on income taxes.    I'd prefer to have a vehicle along besides my house on wheels, but the compromise for 2 comfy beds and access to the animals is that the Class C's are small enough that you can drive them around towns if need be.  Or if desperate. 

A 24' rv sounds way too big; but I measured, and it is actually only 3' longer than a quad cab truck with a full bed, so they aren't that big in comparison to those bus-sized things on the road that are 10-15 feet longer.  I owned one of those once and found it was way too big to drive.  Hated it. 

At any rate, I've been pondering retirement, saving money, getting out of debt, and I'm putting the old house back on the market soon.  I hope that it sells.  (I'm so close to evicting my tenant right now... Ack.  Just don't ask.  It just ticks me off all over again.)  Anyhow, what becomes obvious when you are faced with what is, essentially, immanent retirement is that seven years is too little time to acquire a massive nest egg.  So take this advice, those of you younger than me:  Save money for retirement.  Do not think that Social Security will offer you anything besides heart ache.  Save, save, save!  And quit spending money on superfluous things instead of saving.  You didnt' need that pay per view wrestling extravaganza, not really, right?

So that's what I'm all about these days.  Trying to prep for retirement.  Thinking too much about things that I can't decide on for six years or more.  Driving myself nuts.  And trying to sell my stupid house. 

Comments

[Natasha Fondren]

This is SO difficult. I know I am behind on saving retirement... right now, the only thing I've got my hopes on are that my royalties stay steady. But I hear you.

Good luck! There's a beautiful place in Mexico, mild weather all year long, called El Rancho RV. (If you google it, you can see.) Very inexpensive plots!

[writtenwyrdd]

Thanks for the tip! Problem is, it's not in the US, so it doesn't cut my taxes or allow me to change my tax state. (And it's in Mexico.) I'm too leery of Mexico and driving there is big on my not to do list. All the violence, between drug wars, corrupt federales and the genocide of the indians by the government...

[Charles Gramlich]

I tend to be a natural saver. Unfortunately, my first wife wasn't and I saved virtually nothing during my first 18 years of my career. I'm trying to play catch up now but it isn't easy.

[Sarah Laurenson]

My wife's the saver. A little hard to do right now with her out of work though.

I suggest checking into Texas and Nevada. I believe they both have no income tax. There's a residency requirement timewise in Texas (My in-laws do this between TX and CO). Louisiana had very low income tax. Not sure how it is today.

I'd worry a bit about squatters with an open piece of land or even a vacant house. Some states require them to pay the property tax, as well as squatting, for a certain number of years before they can take it away from you. But I'd hate to have to evict someone whenever I pull into town.

[Sarah Laurenson]

A bit more info. My in-laws own a condo in TX. They stay there for the 6 months and a day or whatever it is, then let a property management company rent it out during the summer while they're in CO.

[writtenwyrdd]

I saved virtually nothing because I couldn't afford to, but what really gets me now is both the money pit and what I admit is an addiction to books!

[writtenwyrdd]

Yeah, I'm aware that there are requirements for how long you live in a place, so I am looking these things up. So far, my preferences are for Louisiana or New Mexico/Arizona, even though the latter 2 do tax federal retirement. But if I move to Nevada, I'd be unhappy anywhere near Bullhead City or Vegas. They have become armpits (and that's putting it kindly) due to the massive growth they are going through. It's just like San Jose in the 70s, everything good about the place was torn down and paved or torn down and turned into tract homes and strip malls.

anyhow, I have years to research, but I think it takes a while to figure out how much I need to have. So I am planning now in order to gird my loins for the Big Save Time, lol!

[Sarah Laurenson]

New Mexico is awesome. I spent a few days in Sante Fe and fell in love. My wife loves Albuquerque. Never really explored that town myself. I think we'd move to New Mexico if we'd still be married there. There are very cheap hotels for sale in towns that are more desert with less amenities, but it could be something that generates some income or pays for itself a bit in the meantime. Depends on what you're looking for.

I lived in Louisiana for over 14 years. I would not go back. The prejudice there is so bad, I just can't take it. It's hard enough visiting my family there. Grown men should never be called "boy". People are still being killed for the crime of being black.

Between Katrina and the BP oil spill, disaster has shaken the state to the core as well.

[Mindy Tarquini]

"I retire in seven years as of last Sunday, August 1"

They're gonna let you retire at age 43!?!?!

[laughingwolf]

yeah, the if i knew then what i know now, syndrome :(

[writtenwyrdd]

I wish! I'll be 56 with 20 years on the job. I'll be able to get full retirement and will go out then if I have enough in savings.

[writtenwyrdd]

In my case it's more the "it's taking longer to be able to afford to get set up for retirement" syndrome. But I confess I do fritter cash away. Take the awesome vacation to Egypt. I won't be doing that again, but you just have to have some fun along the way to retirement or why bother, yannow?

[writtenwyrdd]

I'm so sorry you've had to endure those prejudices. People can be so terrible to each other. At least Prop 8 got overturned in court. That's one ray of light!

I know what you mean about LA being down trodden with the recent disasters, but I just liked it there when I visited, so I am planning on going back to the South and looking around. The Southwest is like home, and Madre's from there...but the South is lovely, closer to Maine and more affordable.

I won't know for some time what choice I'll be making. it does bear serious consideration.

[Sarah Laurenson]

Austin, TX!

[writtenwyrdd]

Well, yes, but it's too expensive! Remember, I have a house in Maine where I'll be living half the year. And I have no plans to move.

[Sarah Laurenson]

I think if you check, there are places on the outskirts of Austin that are fairly cheap. My wife could tell you what parts to avoid.

There's a nude beach at the lake. Hippy Hollow or something like that. The bats come out from under the bridge at night. I hear the sight is amazing. The town is full of indie music, micro breweries, and artsy types. It's also got a hefty share of the tech market. The governer's mansion is here, too.

Plus - no income tax as it's Texas.

Texas is a fairly interesting place as it contains just about every type of topography.

[writtenwyrdd]

I was stationed in San Antonio in 1982, and I liked Texas...but I will have to think about living there or owning property there. I know more about NM and AZ, and I prefer those areas. But the income tax issue has been tickling my brain.

I know Austin is cool, but I don't want to live in a major urban area again. So Austin is out. Nearby areas might be nice. I'd have to look and see, like I said. I had a pal who was a post doc at UTAustin and he told me a lot about the area back in his day. Sounds like it's still pretty hip and happening and liberal (for Texas.) ;)