What do you think of my Retirement Plan? |
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adamjohnson
Member
Cash: $ 5.45
Posts: 20
Joined: 18 Aug 2016
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What do you think of my Retirement Plan? |
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Income-$1350 per month Social Security (for both of us)
$500 rental income (Renting out two RV's on the property)
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$1900 per month
Car insurance- $150 per mo (only one of us will drive)
Car upkeep-$50
Property Taxes-$150 (assuming it triples by then)
Internet-$100
Food-$600
Personal Hygiene-$100
Clothing-$50
Entertainment-100
Church donation-$75
Home Upkeep-$100
Gas-$125
Cycling-$75 (Bike upkeep, clothing, tires,etc)
Solar Panels/battery upkeep-$25
Generator Batteries-wintertime-$15
Wood-$15
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$1725 per mo.
Currently ages 50 & 55. We'd live in a 280 sq ft tiny home with a large garage beside it... on 20 acres we just bought. Wood stove for heat. A little propane used for two appliances. Two year round springs provide water. No medical costs due to being Native American. This leaves almost $200 leftover per mo. Hopefully the majority of the leftover $$ will be saved for our sons inheritance.
Does this seem do-able? The land + home is worth a little over a hundred thousand dollars (being conservative). We would also grow much of our food. As we age, we will need to move because the town is located in a very remote area and on a very dangerous road.
We also might be foster parents again but now doing what’s called emergency placement (children would stay with us up to 48 hrs, arriving at all hrs of hte night until they found placement). We did foster care for 6 years some time back but it costs us a little money out of our pocket (about $100 month) because the subsidy was so low. We had a total of 8 kids in 6 years.
Does this seem like a decent enough retirement plan??
Would you enjoy it??
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Thu Feb 09, 2017 8:19 am |
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BrockCartwright
New Member
Cash: $ 0.60
Posts: 3
Joined: 04 Aug 2017
Location: NSW |
Yeah, I will definitely enjoy the retirement plan. Likewise, I can also invest in some International funds, As investing in international funds is the safest way to invest and secure money. Though it is the long term investing plan, but it is the secure way to invest money. At now-a-days many online sites like Australian funds management, Aberdeenasset etc. are available on the Internet, where can easily invest their money.
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Fri Feb 23, 2018 9:46 am |
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Carmen W
Contributing Member
Cash: $ 7.00
Posts: 35
Joined: 20 May 2018
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The livecareer review plan is really good. Although I need to consult with brother on this as I am not that much technical about these things . Still, I felt that you had shared such great plan. Thanks for your working.
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Sat Nov 16, 2019 5:05 am |
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bugmenot
Member
Cash: $ 4.37
Posts: 19
Joined: 23 Dec 2004
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Sun Feb 14, 2021 3:17 pm |
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GregFil
New Member
Cash: $ 1.20
Posts: 6
Joined: 06 Mar 2023
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Mon Mar 06, 2023 4:19 am |
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