Maintain your old Siemens Hipath system

Retirement Income Needs---Less Than You Think?

It is widely written that you need 75% of your present income to maintain your present life-style in retirement. If you make 100 thousand now, figure 75 thousand in retirement.

Fifty thousand now, figure 37.5 thousand in retirement. The average retirement income in the US is 27 thousand. See what you think after reading these ideas.

Some really significant expenses you won't have in retirement:

1. Life insurance. Usually paid up by now or it has run its course. Also there is little need for it. No premiums to pay.

2. Mortgage payments. Houses are usually paid off by now.

3. Child-rearing expenses. A big one. Unless you got a really late start.

4. College costs. You saved for it and then paid for it over many years. See #3.

5. Work expenses. Transportation, clothing, lunches, etc.

6. Large house. Selling and moving into smaller digs can add significantly to your nest-egg and reduce expenses for taxes, maintenance, insurance and utilities. A reverse double whammy for this one.

7. Automobile expense. It/they should be paid off and might be used less.

8. Credit card payments. Most everybody has learned by this time not to have this debt.

9. Some people move to an area where the cost of living is very significantly lower.

10. Last and this is my favorite. You don't have to save for retirement anymore!

Jot down a figure for each one and see what you get.

These are some further considerations that might reduce your expenses. Where is it written that you won't want to change your life-style at all? After all as we get older our tastes change, often towards those activities that cost less and we appreciate simpler things.

A walk on the beach or in the quiet woods, in the morning sun or even in a light rain can be as enjoyable as anything. Some of the best things in life really are free. A cold winter evening by a warm fire with a great book (free from the library), a visit with the grandchildren and pulling vine-ripened tomatoes from your own plants are more examples of inexpensive activities. Who needs a riotous evening in a nightclub or an expensive day at a casino?

Linger over coffee and the newspaper in the morning, have breakfast with friends, take a little nap in the afternoon or day trips to attractions like museums, planetariums and nature exhibits. Aren't there things you always thought you might like to do and explore like writing, playing music, dancing, sports (non-contact) and crafts and hobbies? These need not cost a lot.

Also remember you are free to take advantage of early-bird specials, two-for-one nights and eating out at lunchtime instead of dinner. These can save as much as half on restaurant bills. Don't forget senior citizen discounts, either.

What might cost more now that you are older? Health care, of course. Putting these in table form:

1. Health insurance premiums. Mainly Medicare supplemental insurance. Figure 2000 dollars and up.

2. Prescription drug costs, both premiums for insurance and out of pocket expense. Most medications not yet off patent (have no generic) are 800 to 1200 dollars a year each. The arithmetic here is easy.

3. General out-of-pocket expense.

4. Long term care or nursing home care. Premiums for insurance if you elect to buy it, although the jury is still out on whether or not you should according to a leading consumer's magazine. The biggest expense of all is nursing home care if you have no insurance. People who have good support can often remain at home for a long time utilizing home care facilities, which costs a lot less.

Naturally every situation is different. Hopefully these thoughts will help you in your calculations. If you add up all that you don't have to pay and what you can reasonably expect to pay and can avoid a long nursing home stay you may need less than you thought.

A recent article in Money magazine had a good idea. During the last year before retirement, try to live on what you expect to have, pretend to be retired. If it is comfortable, you are probably good to go.

Play music like you always wanted. Gain the knowledge you need to learn rapidly and cut out most of the practice drudgery. Dr. Moloney is a retired Family Practitioner with a lifelong interest in music and teaching. Empower yourself to take charge of your music learning by studying his E-book. http://www.musicsimplified.com/

In The News:

Crew seen in first pictures from inside UK-flagged oil tanker seized by Iran
Mon, 22 Jul 2019 10:42:00 +0100
The crew of a British-flagged oil tanker seized by Iran in the Gulf have been pictured inside the vessel for the first time since armed soldiers took control.

Stena Impero: How tensions reached this point and what happens next
Mon, 22 Jul 2019 07:36:00 +0100
Tensions between the UK and Iran show no sign of easing thanks to the latest drama in the Gulf, which saw a British-flagged oil tanker seized by Tehran as it sailed through the Strait of Hormuz.

Iran sentences 'CIA spies' to death after 'breaking ring'
Mon, 22 Jul 2019 07:29:00 +0100
Iran says it has broken up a CIA spying ring and sentenced some of the 17 suspects to death.

India launches rocket to far side of moon - just days after aborted take-off
Mon, 22 Jul 2019 12:41:00 +0100
India's space agency has launched an unmanned spacecraft to the far side of the moon just a week after aborting the mission due to a technical problem.

Masked assailants attack Hong Kong protesters in subway
Sun, 21 Jul 2019 15:37:00 +0100
Clashes in Hong Kong escalated into violence on Sunday as police launched tear gas at pro-democracy protesters and a group of masked assailants attacked people making their way back from the rally in a subway station.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

Kundalini Lessons - Money

I've been going through and interesting growth period lately that... Read More

How to Attain Your Dreams on a Single Income

If you recently became a single parent and see your... Read More

Healthy Eating On A Budget

It is possible to eat a healthy, balanced diet without... Read More

Chex Systems ? Why Every American Needs To Guard His Checking Account With His Life

Most Americans have been brought up to be concerned about... Read More

Why You Should Seek Professional Help With Asset Management

Everyone needs to maintain their lives. What I mean by... Read More

Budget Planning - Its Elementary My Dear Watson

Does it feel like you have to be Sherlock Holmes... Read More

Personal Loans For Homeowners ? One Of The Numerous Rewards For Being A Homeowner

You no longer look at the pictures of homes cause... Read More

Should You Borrow From Your 401(k) Account?

If you have a 401(k) account, it can be very... Read More

The Magic Of Compound Interest

Christians are called to be good stewards of God's resources.... Read More

Adverse Debt Levels Blight UK Consumers Personal Finances

Debt levels are at an all time high in the... Read More

Safely Save for Your Childs University Studies Using An Education IRA!

This investment retirement account (IRA) is useful to you as... Read More

Students Investing in Their Future Need to Manage Their Finances Today

With the A-level results coming out, the long wait for... Read More

Improve Your Professional Image Using Address Labels

One of the simplest ways to improve your professional image... Read More

Can You Afford Not To Look After Your Personal Finances?

Investing is a subject a lot of people don't want... Read More

The Wonderful World Of Address Labels

Ever wonder where address labels come from? Avery® is perhaps... Read More

Reduce College Debt with Scholarships

Six Scholarship judges were sitting around an oval table. Forms... Read More

The Benefits of Banking Online

How many drawers did you have to look through to... Read More

The Wright Place - Finances

Women have a love/hate relationship with money. Most of us... Read More

Financial Readiness: Preparing for BRAC (Base Realignment And Closing)

The recommendations for military base closings have been released and... Read More

First Checking Account ? When is it Time?

We all know that money doesn't grow on trees, but... Read More

How to Balance Your Checkbook ? Get a Calculator and Pencil and You are Ready To Go!

Despite how easy it is to balance a checkbook, very... Read More

College Expenses: Seven Ways to Save on an Education

Many people graduate from college owing thousands of dollars in... Read More

10 Quick And Cheap Ways To Cut Your Heating Bill

When you received an energy (heating) bill last winter, were... Read More

10 Money-Saving Tips

1. If you have your haircut every 3 weeks, try... Read More

Why Live Frugally

What is it about being frugal, why do it at... Read More