Thread: Do you have a plan? I do.

Yep - in the process of transferring my business to a partner so they can run it while I go away a bit more.

We're both 54, but my missus is not keen to stop working (from a financial perspective - she's very keen to stop working!).

I think we can have a simple life on minimal income, but she's not so sure!

We own the farm, have it on solar so almost $0 power bills, no water/sewerage rates and we have 40 acres we can grow stuff on.

Yep, we think we'll need about $52,000 after-tax income p.a. and no debts to be comfortable. Seems doable. We plan not to have bills for water, sewer or electricity (after going off the grid) by then.


Some good information here:
https://www.superannuation.asn.au/re...ment-standard/

That's quite high! I did some figures a few years ago and worked out that our "base expenses" were about $25K per year. That's for stuff like food, council rates, insurance, registration, fuel, and so on. Not stuff like travel etc.

From the site I linked to:


A comfortable retirement lifestyle enables an older, healthy retiree to be involved in a broad range of leisure and recreational activities and to have a good standard of living through the purchase of such things as; household goods, private health insurance, a reasonable car, good clothes, a range of electronic equipment, and domestic and occasionally international holiday travel.
Both budgets assume that the retirees own their own home outright and are relatively healthy.
https://www.superannuation.asn.au/re...ment-standard/

Hi,
Started planning about 5 years out. Got most of it right, but under estimated the 'relaxation factor' in getting things done that I left to do as retirement projects.
The landscaping I'm undertaking is starting to loose some of its appeal, but while the satisfaction out weighs the weariness it will keep happening.

We overlooked the aged parent responsibility a bit. One at 98 and hale and hearty, the other at 92 and failing. We are sharing jobs like clearing out houses, hospital visits, and there is enough capacity within the family that we have avoided the nursing homes so far. A short stay for a week is available as respite for the carers when ever we need it.

From what I gather of the average minimum wage, we are living below that quite comfortably with out paying taxes and the age pension rebate on rego/rates/etc certainly helps.

Lots of fellow retired folk seem to go on cruises and overseas holidays and seem intent on spending the kid's inheritance as fast as possible. They must have lots of $$ tucked away somewhere. (Not that I would go on a cruise ship if you paid me, they seem like a hotel you can't escape from)

Retired! I've finally found what I want to do when I eventually grow up..

Cheers

We love to travel and plan to do a lot of it, so we're planning to include that in our budget, with trip costs already paid or budgeted for before we leave. That's why the Defender and camper trailer are already paid for and ready to go.
Mind you, we don't do much luxury, it's mostly backpacking. For example, we hope to go to Yangon in December and then out into the sticks a bit, travelling with former locals.
After we retire and spend a year doing the big lap, we also have a list of other places we want to visit in Asia, Europe and the Americas.
I keep muttering about shipping the Defender to Cape Town and heading north, but so far The Navigator is resisting. If the West makes friends with Iran and Pakistan settles down, we might instead go Bangladesh-India-Pakistan and through Iran to Turkey and Europe. Who knows?
You only live once.

When we traveled up from Adelaide to Broome/Kununurra we were quite surprised at how many grey-nomads had sold their family house and were travelling full time.

I couldn't bear to not have a "home base" to go back to. The security of a familiar place to return to rates highly with me, but obviously not those people.

I'd miss not having a shed.

Im not near it yet but honestly as long as im alive i`ll be happy
I own my car and own my camper so as long as i can afford fuel i`ll be alright .
I dont want for anything and dont care for anything bring it on i say what will be will be