Retirees: What Are The Expenses You Didn't Count On For Retirement?

[anonymous6]

I'm almost there for retirement and trying to crunch all the numbers to see if we will be OK for retirement living.

I have been keeping track of all expenses for the last couple years. some expenses will go down like gasoline, tires, etc for the car. laundry, razors (ha ha)

are there some unexpected expenses you did not count on?

 

[oldngray]

Getting screwed on healthcare is the biggest variable. I really watched my spending the first year of retirement to make sure I was OK moneywise. I even saved some more money after retiring while on pension. I spent some on house repairs but that was expected maintenance like new roof and gutters.

 

[rod]

I can't say I was surprised by any expenses. When you are working expenses come up that you weren't expecting and the same is true once you retire. Don't sweat the small stuff---things have a way of working themselves out. If you have to budget every penny you probably haven't tucked enough away to retire.

 

[moreluck]

If you move, be sure to check out all taxes in the new state. You must check out income tax, property tax, sales tax, taxes to license vehicles etc. It will all dictate your style of living in retirement.

If you are not moving, then you already know these things.

 

[pretender]

Getting screwed on healthcare is the biggest variable. I really watched my spending the first year of retirement to make sure I was OK moneywise. I even saved some more money after retiring while on pension. I spent some on house repairs but that was expected maintenance like new roof and gutters.

I agree on the healthcare variable. I just completed my first year, and I also was able to save some more money by watching my spending. When you are working, you spend a lot of money on conveniences such as eating out, lawn care, etc.

 

[UpstateNYUPSer(Ret)]

I would think that retirees who did not properly plan will have more idle time than they know what to do with and as a result may spend money out of boredom.

 

[oldngray]

I would think that retirees who did not properly plan will have more idle time than they know what to do with and as a result may spend money out of boredom.

You find yourself spending more time on hobbies that keep you busy but don't necessarily cost a lot of money. There are so many things you don't have time for while driving so its great to finally have time to do those things.

 

[rod]

I agree on the healthcare variable. I just completed my first year, and I also was able to save some more money by watching my spending. When you are working, you spend a lot of money on conveniences such as eating out, lawn care, etc.

I guess I'm doing it all wrong. We eat out more now than we ever did and I never paid a dime for lawn care-----until I retired. I still mow my own grass but I have Scotts Lawn Service fertilize and do a fall aeration.

 

[cachsux]

Birth control. You don't want to have to try and get your job back in 9 months.

 

[oldngray]

Birth control. You don't want to have to try and get your job back in 9 months.

No more little blue pills?

 

[cachsux]

No more little blue pills?

Popsicle stick and electrical tape.

 

[anonymous6]

Getting screwed on healthcare is the biggest variable. I really watched my spending the first year of retirement to make sure I was OK moneywise. I even saved some more money after retiring while on pension. I spent some on house repairs but that was expected maintenance like new roof and gutters.

can you explain the healthcare variable? I already know I will have to chip in 150 a month ( unless that changed in the West )

 

[oldngray]

We still don't know how much healthcare will cost. I currently pay $50 per month under a UPS plan but that almost certainly change after every contract supplement passes. Still don't know how much it will cost. I got a letter last week that said UPS will provide details later.

 

[pretender]

I would think that retirees who did not properly plan will have more idle time than they know what to do with and as a result may spend money out of boredom.

I think it is the opposite: Retirees who did not properly plan have to go back to work to pay the bills. Actually, I can't imagine being bored--I am still finishing projects I started years ago, but never had a chance to finish.

 

[pretender]

Birth control. You don't want to have to try and get your job back in 9 months.

If you hadn't married your babysitter, you would not have to worry about that.

 

[pretender]

I guess I'm doing it all wrong. We eat out more now than we ever did and I never paid a dime for lawn care-----until I retired. I still mow my own grass but I have Scotts Lawn Service fertilize and do a fall aeration.

I think it is just a matter of being cautious during the first year, because of not being used to living on a fixed income. I enjoy now having the time to manicure my lawn and doing landscaping projects.

 

[rod]

I think it is just a matter of being cautious during the first year, because of not being used to living on a fixed income. I enjoy now having the time to manicure my lawn and doing landscaping projects.

I would agree with you. Retiring can be scary. We watched our spending real close for the first few years. After awhile when you start drawing pensions and Social Security and seeing that your investments are doing what they are suppose to you get more comfortable. To be honest I have more disposable income now than when I was working and raising kids. Every once in awhile I get bored so I go buy a new toy or a new shop tool.

 

[cachsux]

If you hadn't married your babysitter, you would not have to worry about that.

Someone has to watch the kids.

 

[stealth8]

In my local retiree retirement health plan, if I chose to move out of state I will have to pay out- of -network price for health care. Also when I retired my 24 year old son lost his health coverage from my plan. Other than that retirement is GRAND!

 

[oldupsman]

I'm almost there for retirement and trying to crunch all the numbers to see if we will be OK for retirement living.

I have been keeping track of all expenses for the last couple years. some expenses will go down like gasoline, tires, etc for the car. laundry, razors (ha ha)

are there some unexpected expenses you did not count on?

Sounds to me like you've already done your homework. I looked at it the other way.
I figured between gas money, wear and tear on my vehicle, and I ate lunch and break on the road every day,
I saved about 4 grand a year NOT going to work.