Recently I’ve been exploring the blogosphere a great deal. Among other topics, I’ve been reading some new retirement blogs as well as some blogs where twenty and thirty something’s are talking about retirement planning. Maybe it’s Karma, maybe my timing, maybe the universe is out of alignment, but I’ve see many blog posts in my readings that run along the same lines (admittedly some of them were written awhile back, as I read new blogs from the beginning). The recurring theme seems to be “I could never stop working and sit around the house, I would be bored”. The secondary theme seems to be “I’ll have a limited income; I won’t be able to do the things I want to do”.
My immediate answer to the question of what I do all day is this: I do what I want to do. That’s a simplistic answer though, so let’s look further. What do I do?
I pursue hobbies that I had before I left work. Between working (even part time) and raising kids, my time to pursue my passions was limited. I know have time to quilt, read, cook, explore genealogy, travel, and do photography on a larger scale than I ever could before. If you’re still working and have no hobbies, I suggest you start developing one or two-at least one that you can pursue alone(total togetherness works poorly for most couples). Lest these hobbies sound too feminine or home-makerish, my late husband enjoyed sports officiating, amateur theater, skiing and traveling, and would have enjoyed those in retirement (he was also a workaholic high level manager, but managed to make time).
I’ve explored some of the things I wanted to try when I had less time, and I expect to do more. Some of the things I tried I was a success at, some were failures and some are ongoing (like managing to grow tomatoes on my patio in pots). In the same vein, some I liked and some paled once I actually tried them. The list of things to try remains long. Most everyone has a list of things in their head or written down on paper of things they would like to do or try "someday". While some of the things on your list may be "see China", or "jump out of an airplane", I imagine there are many other things on the list as well. Start jumping in. And for heaven's sake, don't worry about whether it's a "senior hobby" or a "senior activity. I have a brother in law who has taken up both marathon running and bike racing at age fifty something.
I increased my volunteering. While “volunteering” is not an automatic solution to boredom, it’s certainly a good way to meet like-minded people. And frankly, most agencies and charities need help, especially during the business hours when other people are working.
I spend time socializing and visiting with friends. With work and kids, my husband and I were lucky to be able to spend a relaxing evening just talking with friends. I occasionally take long lunches at Olive Garden with the girls, having soup, salad, bread sticks and conversation.
Sometimes, I do absolutely nothing, or at least very little. Today I’m feeling a bit under the weather, and I spent much of the day sitting on the patio, reading an absolutely corny romance on the Kindle (I admit it, I’ve gone over to the dark side). I’ve also been known to just go out on the patio, sit down and nod off for a while. While I never, ever watch TV during the day (something I cannot get past, no matter what), I have been known to take myself to the local movie at noon and for three dollars go see the early showing of a first run movie, just because I feel like it.
While I hesitate to add this, I have a small home business. Hesitation comes from the fact that I don’t want people to assume that a business or work is necessary for retirement. I work to supplement my fixed income, but the business hasn’t made money yet, and I am still managing. More importantly, the business is a supplement to my life, and enters my life when and where I choose. And yes, I still consider myself to be truly "retired".
I’ve managed to do most of these things on a fixed income, with creativity and originality. Somewhere there may be someone sitting around eating bon-bons and watching soap operas and daytime TV, but that’s not me. Though on second thought, that might not be so bad. If you're sitting around on the couch with nothing to do-get up and move!
Showing posts with label lifestyle. Show all posts
Showing posts with label lifestyle. Show all posts
Thursday, March 3, 2011
Thursday, February 24, 2011
Living Richly in Retirement: Do We Need As Much As They Say?
Recently Grace over at Graceful Retirement has a blog post on the exaggerated cost of retirement. Grace figures that many of us won’t need the eighty five percent of our salary the analysts tell us we need. While everyone’s needs are unique, overall, I tend to agree.
I’ve made no secret of my financial status, or the fact that because I was forcibly retired at fifty something (and spent all my savings in a few years) that I will need some stream of income to make the difference. But in my case I manage to travel, pay a mortgage on a house, and support a college student part time and still have monthly expenditures of much less than 85 percent of our salary when my husband was working. And by a certain amount of downsizing, I could live on much less comfortably.
Why is this true? I would say that there are three ways that make it possible for many retirees to live cheaper than previously.
First, most of us have most if not all the basics in terms of furnishings and clothing. While we may need to shop to “fill in”, we’re not spending money on household basics. While I occasionally need to replace items, at this point I have a household that functions well with things on hand. I have pots, pans, dishes, pillows, furnishings and clothing, just to name a few. The only “things” I see myself needing to buy in the future are clothes, and that’s only because I’m in the process of losing 100 pounds, other than that I would be set for life. This doesn’t mean that I will never buy a thing, just that those things aren’t needs and that I can pick and choose what and if to buy.
We don’t have work related or financial expenses. I’m not commuting to a job. While I enjoy looking good, and maintain myself well, I’m not spending money in the manner of my former dress for success life. I’m not saving (for college or retirement); paying income taxes for the most part or dry cleaning my clothing.
Most importantly in this equation (at least to me), is time. Because I have time, I can do for myself things which may have been hired out before. I cook for myself as much as possible rather than eat out (although I enjoy eating out, now it’s a special occasion rather than a last minute rush). Having a surfeit of time also means that I can investigate specials and discounts and take advantage of last minute and one time deals quickly. I can take a relaxing road trip to, say, New Orleans because my time is my own. When I fly, I can volunteer to wait until the next flight since I don’t have to be at work. I can travel off season, and on the weekdays. I can take advantage of free entertainment, Wednesday movie specials, you name it.
Obviously, lifestyles will differ. And eighty five percent of minimum wage is certainly less than eighty five percent of say, $60,000 per year. A person whose hobby is flying will need more than I do for quilting, travel and genealogy. And I suppose the argument could be made that we are two now instead of three (although with the exception of some travel expenses I don’t think our regular living expenses would increase by adding another person significantly). But overall, I think many folks can manage well on less than they thought or had hoped they would have, without significantly altering lifestyle choices.
Coming next………what costs increase in retirement??
I’ve made no secret of my financial status, or the fact that because I was forcibly retired at fifty something (and spent all my savings in a few years) that I will need some stream of income to make the difference. But in my case I manage to travel, pay a mortgage on a house, and support a college student part time and still have monthly expenditures of much less than 85 percent of our salary when my husband was working. And by a certain amount of downsizing, I could live on much less comfortably.
Why is this true? I would say that there are three ways that make it possible for many retirees to live cheaper than previously.
First, most of us have most if not all the basics in terms of furnishings and clothing. While we may need to shop to “fill in”, we’re not spending money on household basics. While I occasionally need to replace items, at this point I have a household that functions well with things on hand. I have pots, pans, dishes, pillows, furnishings and clothing, just to name a few. The only “things” I see myself needing to buy in the future are clothes, and that’s only because I’m in the process of losing 100 pounds, other than that I would be set for life. This doesn’t mean that I will never buy a thing, just that those things aren’t needs and that I can pick and choose what and if to buy.
We don’t have work related or financial expenses. I’m not commuting to a job. While I enjoy looking good, and maintain myself well, I’m not spending money in the manner of my former dress for success life. I’m not saving (for college or retirement); paying income taxes for the most part or dry cleaning my clothing.
Most importantly in this equation (at least to me), is time. Because I have time, I can do for myself things which may have been hired out before. I cook for myself as much as possible rather than eat out (although I enjoy eating out, now it’s a special occasion rather than a last minute rush). Having a surfeit of time also means that I can investigate specials and discounts and take advantage of last minute and one time deals quickly. I can take a relaxing road trip to, say, New Orleans because my time is my own. When I fly, I can volunteer to wait until the next flight since I don’t have to be at work. I can travel off season, and on the weekdays. I can take advantage of free entertainment, Wednesday movie specials, you name it.
Obviously, lifestyles will differ. And eighty five percent of minimum wage is certainly less than eighty five percent of say, $60,000 per year. A person whose hobby is flying will need more than I do for quilting, travel and genealogy. And I suppose the argument could be made that we are two now instead of three (although with the exception of some travel expenses I don’t think our regular living expenses would increase by adding another person significantly). But overall, I think many folks can manage well on less than they thought or had hoped they would have, without significantly altering lifestyle choices.
Coming next………what costs increase in retirement??
Thursday, January 27, 2011
Living Richly In Retirement-Trimming Monthly Expenses
One of the many ways that those of us on a limited income can free up money is to re-evaluate current expenses. We can actually increase disposable income on our own by cutting expenses in certain areas. One of the best ways to do that is to re-evaluate those pesky monthly expenses. Now, I’m not talking about utilities and the like (although they certainly deserve their own review). I’m talking about those regular, automatic debit types of expenses that we pay.
Obviously these expenses differ from person to person. In my case, past expenses have included cable, security, cell phones, newspaper, lawn care, magazines and gym memberships just to name a few. Some of these expenses remain, but it’s always good to challenge ourselves to see what we can eliminate-to “delutter” our expenses if you will. Often it just takes some though to priorities to decide which expenses to keep in the budget.
• Decide if you are using the service enough to justify the expense. I work out in an outside pool, live in a warm climate, and walk for exercise. I only need indoor exercise access for a few months. It makes more sense to use my city facility on an as needed basis rather than join a gym. It may make sense to do a money breakdown and find out how much say, a single visit to your workout facility is costing you at your current usage rate. I have not renewed my AARP membership because for me the expense was not justified-I get better discounts on most things through other techniques.
• Does the service give value to your life? I will shortly be a single gal living alone. Cable TV is important to my quality of life, so while I am willing to down grade, I am unwilling to eliminate this service. On the other hand, my land line affected my life in no way (I use my cell phone for personal and business calls) so eliminating a land line was worthwhile, and an easy step to take.
• Have your priorities or intentions changed since you signed up for the service? If so, acknowledge it and move on. Every year millions of folks join gyms with the intention of working out three or more days a week, and eventually usage trickles down to almost nothing. If this is you, rethink your commitment.
• Can you find a cheaper alternative that is equally satisfying? In the case of the above mentioned personal workout, my city facility is $100 per year. So even if I needed indoor workouts, a gym would not be a necessity. If it weren’t for my addiction to watching sports, I would get a box for about $50.00 and stream shows and movies through Netflix, as many of my friends do.
• Is the expense necessary to your well-being or security? While those expenses are rare, think long and hard before chopping them. Every year I whine and whimper as I fork over my annual AAA fee. However, I’m a woman traveling cross country alone who knows how to gas up the car and not much more. So even though I have not used the benefits in a few years, I’m unwilling to take the risk of a breakdown after dark on a two lane road.
• If you cannot eliminate the expense, can you cut it or downgrade? In my case I was unable to cut down the newspaper completely, but arranged to move to Wednesday, Thursday, Friday and Sunday. I downgraded my cable to the most basic options.
• If you are looking to add a new expense, try it out first. Most services have trial offers, trial memberships and the like.
• Find out the costs of cancellation. Although I was willing to cut my cable much earlier, I would have paid a hefty fee for changing before this January. By the same token, if you are looking to add a phone or a membership, make sure you are aware of early cancellation fees and the like.
Recently I’ve freed up income. I’ve cut both cable and cell phone use by over a third, and eliminated a land line. I’ve downgraded my newspaper and eliminated all magazine deliveries. I’ve eliminated all memberships except for AAA, and I’ve cut other costs. I’ve still got a few to review. Am I physically able to fertilize, weed and trim my own lawn? Do I really need a security system when I live in a nice neighborhood with the barking dog from hell? These are questions still to be answered.
Finally, by evaluating and trimming these expenses, I’ve become more aware of priorities, and should further cuts need to be made, know which items could be cut further. I can live without cable but not without Internet access and I can read the paper online if I had to, for example.
Have you reviewed expenses lately?
Obviously these expenses differ from person to person. In my case, past expenses have included cable, security, cell phones, newspaper, lawn care, magazines and gym memberships just to name a few. Some of these expenses remain, but it’s always good to challenge ourselves to see what we can eliminate-to “delutter” our expenses if you will. Often it just takes some though to priorities to decide which expenses to keep in the budget.
• Decide if you are using the service enough to justify the expense. I work out in an outside pool, live in a warm climate, and walk for exercise. I only need indoor exercise access for a few months. It makes more sense to use my city facility on an as needed basis rather than join a gym. It may make sense to do a money breakdown and find out how much say, a single visit to your workout facility is costing you at your current usage rate. I have not renewed my AARP membership because for me the expense was not justified-I get better discounts on most things through other techniques.
• Does the service give value to your life? I will shortly be a single gal living alone. Cable TV is important to my quality of life, so while I am willing to down grade, I am unwilling to eliminate this service. On the other hand, my land line affected my life in no way (I use my cell phone for personal and business calls) so eliminating a land line was worthwhile, and an easy step to take.
• Have your priorities or intentions changed since you signed up for the service? If so, acknowledge it and move on. Every year millions of folks join gyms with the intention of working out three or more days a week, and eventually usage trickles down to almost nothing. If this is you, rethink your commitment.
• Can you find a cheaper alternative that is equally satisfying? In the case of the above mentioned personal workout, my city facility is $100 per year. So even if I needed indoor workouts, a gym would not be a necessity. If it weren’t for my addiction to watching sports, I would get a box for about $50.00 and stream shows and movies through Netflix, as many of my friends do.
• Is the expense necessary to your well-being or security? While those expenses are rare, think long and hard before chopping them. Every year I whine and whimper as I fork over my annual AAA fee. However, I’m a woman traveling cross country alone who knows how to gas up the car and not much more. So even though I have not used the benefits in a few years, I’m unwilling to take the risk of a breakdown after dark on a two lane road.
• If you cannot eliminate the expense, can you cut it or downgrade? In my case I was unable to cut down the newspaper completely, but arranged to move to Wednesday, Thursday, Friday and Sunday. I downgraded my cable to the most basic options.
• If you are looking to add a new expense, try it out first. Most services have trial offers, trial memberships and the like.
• Find out the costs of cancellation. Although I was willing to cut my cable much earlier, I would have paid a hefty fee for changing before this January. By the same token, if you are looking to add a phone or a membership, make sure you are aware of early cancellation fees and the like.
Recently I’ve freed up income. I’ve cut both cable and cell phone use by over a third, and eliminated a land line. I’ve downgraded my newspaper and eliminated all magazine deliveries. I’ve eliminated all memberships except for AAA, and I’ve cut other costs. I’ve still got a few to review. Am I physically able to fertilize, weed and trim my own lawn? Do I really need a security system when I live in a nice neighborhood with the barking dog from hell? These are questions still to be answered.
Finally, by evaluating and trimming these expenses, I’ve become more aware of priorities, and should further cuts need to be made, know which items could be cut further. I can live without cable but not without Internet access and I can read the paper online if I had to, for example.
Have you reviewed expenses lately?
Thursday, November 4, 2010
"Puttering" in Retirement
It seems to me as I explore the blogosphere that in retirement, as in life, there are two general types of people. The first type is those “directed” people or divers in the current terminology. Directed people plan their days, and generally have a few specific hobbies or interests that they want to spent time on, or learn in retirement. The second general type of person is a scanner, or in my parlance, a “putterer”. Directed retirees are more likely to have a “passion” and some other interests. Scanners are more likely to have more interests and hobbies than they have time for, and general “life plans” rather than a solid set of goals. Obviously, most of us are a mix of personality types, but in my experience most of us tend to lean more towards one side or the other.
It is pretty obviously that I’m the “putter around” type. Some of you may be as well. At first blush, it may seem like folks who putter, who have many different interests and hobbies and activities in their lives, are disorganized. Truth is, we get just as more done most of the time, and have as many accomplishments as others. The difference is that because it may not be directed all in one area, rather than a gigantic accomplishment, we have many equal accomplishments, albeit smaller one. If I had a passion just for writing, I would probably write a book or two, most likely about one of my other major interests. Even in retirement, if someone asked me what I was doing in retirement, I would say that I write and travel.
As some who putters, I do many things, depending on my day and my mood. At the moment I have a quilt almost finished, two scrapbook pages half done, and a scarf that I knit in the evening. I’m taking a writing class, I have a new canner and I’m learning to can. I’m exploring photography on a larger level. I’m looking at starting a second (monetized) blog; I have an errand business going, and am looking at a pet food business. Rather than plan my days, I allow them to flow within general guidelines. I go to bed when I’m tired and get up when I’m ready. My life flows at its own pace most days. Yes, there are days when I simply must run errands for my business, or finish a quilt at the last minute. But overall, I prefer to let retirement lead me where it may, from day to day.
Is your retirement day planned, or do you putter through your retirement? Whatever works for you………….works.
It is pretty obviously that I’m the “putter around” type. Some of you may be as well. At first blush, it may seem like folks who putter, who have many different interests and hobbies and activities in their lives, are disorganized. Truth is, we get just as more done most of the time, and have as many accomplishments as others. The difference is that because it may not be directed all in one area, rather than a gigantic accomplishment, we have many equal accomplishments, albeit smaller one. If I had a passion just for writing, I would probably write a book or two, most likely about one of my other major interests. Even in retirement, if someone asked me what I was doing in retirement, I would say that I write and travel.
As some who putters, I do many things, depending on my day and my mood. At the moment I have a quilt almost finished, two scrapbook pages half done, and a scarf that I knit in the evening. I’m taking a writing class, I have a new canner and I’m learning to can. I’m exploring photography on a larger level. I’m looking at starting a second (monetized) blog; I have an errand business going, and am looking at a pet food business. Rather than plan my days, I allow them to flow within general guidelines. I go to bed when I’m tired and get up when I’m ready. My life flows at its own pace most days. Yes, there are days when I simply must run errands for my business, or finish a quilt at the last minute. But overall, I prefer to let retirement lead me where it may, from day to day.
Is your retirement day planned, or do you putter through your retirement? Whatever works for you………….works.
Saturday, October 9, 2010
Flexibility-The Best Part Of Retirement!!
As I write this I’m in Denver, sitting in my sister’s living room watching football. This follows a day and a half or driving through and exploring west Texas. I’ll spend a few days visiting relatives and getting to see some real fall color. Later on in the week I’ll drive to Santa Fe and spend the afternoon and evening exploring the Plaza and environs. The following day I’ll drive south on the Turquoise trail to Old route 66, and then to Amarillo and then a different route to through Texas to Dallas.
I’m enjoying this trip so far, and imagine that I will enjoy the rest of my travels as well.
In theory, I could have taken this trip during my working years. Truth is, I probably would have enjoyed it then equally as well. But I would have had to ask for leave, or been away from customers for a week or so. I would have at to schedule my time, at least in as much as I was sure to get back to work at my appointed time. When I returned I probably would have mentally had to reset my mind and attitude back to work.
In my current (retired) life, it’s a whole different ball game. I actually decided to take this trip three days before I left home. It might have been less except that I have a four legged child. There was no employer to ask, serious scheduling to do or any of the other things that would have been required to take time off from a regular job. At the same time, should I take an extra day to return, it will impact little. If I decide I need another full day in Santa Fe, I’ll simply extend my hotel a day and move onward.
More than anything else, its things like this that to me, define retirement (chosen or not). Retirement doesn’t mean that I sit on the couch watching TV and eating bonbons (although that also has value on occasion!). Retirement doesn’t necessarily mean I am less busy overall. I still quilt, maintain a home, attempt to manage two small businesses, and many other things. On some occasions, as Syd reminds me, I attempt to do more than one person should.
The difference is simply control. I get to say yes and no. I get to make choices, day to day, on what to do. I have the choice to simply throw things into the back of my car and take off until I am ready to come home. I have the choice as to whether I want to make an Indianapolis Colts Quilt for a client, read a novel, can barbecue sauce for gifts, or replace my blinds in the living room. Even with work or my business, I get to choose the amount, the time, and the effort to expend.
To me, this gift is the best part of retirement. In my case, this kind of freedom is worth some sacrifices, be they financial or otherwise. It’s what retirement is all about.
I’m enjoying this trip so far, and imagine that I will enjoy the rest of my travels as well.
In theory, I could have taken this trip during my working years. Truth is, I probably would have enjoyed it then equally as well. But I would have had to ask for leave, or been away from customers for a week or so. I would have at to schedule my time, at least in as much as I was sure to get back to work at my appointed time. When I returned I probably would have mentally had to reset my mind and attitude back to work.
In my current (retired) life, it’s a whole different ball game. I actually decided to take this trip three days before I left home. It might have been less except that I have a four legged child. There was no employer to ask, serious scheduling to do or any of the other things that would have been required to take time off from a regular job. At the same time, should I take an extra day to return, it will impact little. If I decide I need another full day in Santa Fe, I’ll simply extend my hotel a day and move onward.
More than anything else, its things like this that to me, define retirement (chosen or not). Retirement doesn’t mean that I sit on the couch watching TV and eating bonbons (although that also has value on occasion!). Retirement doesn’t necessarily mean I am less busy overall. I still quilt, maintain a home, attempt to manage two small businesses, and many other things. On some occasions, as Syd reminds me, I attempt to do more than one person should.
The difference is simply control. I get to say yes and no. I get to make choices, day to day, on what to do. I have the choice to simply throw things into the back of my car and take off until I am ready to come home. I have the choice as to whether I want to make an Indianapolis Colts Quilt for a client, read a novel, can barbecue sauce for gifts, or replace my blinds in the living room. Even with work or my business, I get to choose the amount, the time, and the effort to expend.
To me, this gift is the best part of retirement. In my case, this kind of freedom is worth some sacrifices, be they financial or otherwise. It’s what retirement is all about.
Friday, August 6, 2010
FNK (Frugal, no kids)
I read a great many blogs related to frugality, money management or saving money. Most of them have good days and bad days, but it's always interesting reading. Even at this level of my life I enjoy different perspectives and you can always learn something new.
The one thing I notice about many if not most frugal blogs, is that they spend a great deal of time discussing frugality in terms of raising children. Clothing sales, frugal home school, how to get school supplies frugally-these are all the meat of many frugal blogs. I understand this. When young families start out, this is generally the time when money is tightest. School loans are being paid off. Wage earners are at the beginning of their careers.
The thing is though, that there is a whole generation, a group if you will of single or married folks without children who need and use frugal advice as well. Maybe they are in a career that pays not very much money, maybe they've lost jobs. They could be someone like me, living on a widow's pension instead of my husbands professional salary. They could be middle aged or retired, having lost much of their retirement and living on a great deal less than they had planned.
The other type of financial blog is the so called "retirement blog". These blogs generally spend most of their time on planning for retirement or maximizing one's investments after retirement or a layoff. While this is helpful to some folk, single people, empty nest boomers, retirees and the like need a different kind of financial advise. The economy has changed the landscape for people in this country drastically, and many of us who would have been comfortable retirees, or DINKS for example, are now looking at ways to save money and live the life we want.
As I take this blog in its new direction, I hope it will be enjoyable, and provide insights to a few people here and there. I'm sure there are many people out there like me, be they twenty, forty or sixty, who have less income than they hoped, and want to live richly on what is available, whatever the reason. I'm not a professional, and I never play one. but hopefully we'll all have a good time.
The one thing I notice about many if not most frugal blogs, is that they spend a great deal of time discussing frugality in terms of raising children. Clothing sales, frugal home school, how to get school supplies frugally-these are all the meat of many frugal blogs. I understand this. When young families start out, this is generally the time when money is tightest. School loans are being paid off. Wage earners are at the beginning of their careers.
The thing is though, that there is a whole generation, a group if you will of single or married folks without children who need and use frugal advice as well. Maybe they are in a career that pays not very much money, maybe they've lost jobs. They could be someone like me, living on a widow's pension instead of my husbands professional salary. They could be middle aged or retired, having lost much of their retirement and living on a great deal less than they had planned.
The other type of financial blog is the so called "retirement blog". These blogs generally spend most of their time on planning for retirement or maximizing one's investments after retirement or a layoff. While this is helpful to some folk, single people, empty nest boomers, retirees and the like need a different kind of financial advise. The economy has changed the landscape for people in this country drastically, and many of us who would have been comfortable retirees, or DINKS for example, are now looking at ways to save money and live the life we want.
As I take this blog in its new direction, I hope it will be enjoyable, and provide insights to a few people here and there. I'm sure there are many people out there like me, be they twenty, forty or sixty, who have less income than they hoped, and want to live richly on what is available, whatever the reason. I'm not a professional, and I never play one. but hopefully we'll all have a good time.
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