Comments on: Estimating Your Expenses http://gailvazoxlade.com/blog/archives/619 Tue, 22 May 2012 18:24:54 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: How to Save Enough for Retirement | The Money Saving Fifty (50) http://gailvazoxlade.com/blog/archives/619/comment-page-1#comment-16571 How to Save Enough for Retirement | The Money Saving Fifty (50) Sun, 06 Sep 2009 10:11:17 +0000 http://gailvazoxlade.com/blog/?p=619#comment-16571 [...] Estimating Your Expenses « gailvazoxlade.com [...] [...] Estimating Your Expenses « gailvazoxlade.com [...]

]]> By: Top Savings Accounts for Your Nest Eggs | The Money Saving Fifty (50) http://gailvazoxlade.com/blog/archives/619/comment-page-1#comment-15321 Top Savings Accounts for Your Nest Eggs | The Money Saving Fifty (50) Sun, 02 Aug 2009 12:01:28 +0000 http://gailvazoxlade.com/blog/?p=619#comment-15321 [...] Estimating Your Expenses « gailvazoxlade.com [...] [...] Estimating Your Expenses « gailvazoxlade.com [...]

]]> By: Jennifer http://gailvazoxlade.com/blog/archives/619/comment-page-1#comment-14256 Jennifer Thu, 02 Jul 2009 15:51:46 +0000 http://gailvazoxlade.com/blog/?p=619#comment-14256 Hi Gail, I was hoping to speak to you in regards to completing retirement webinar's for our company. We were in contact not too long ago about this. Would you mind contacting me. Thank you Jennifer Hi Gail,

I was hoping to speak to you in regards to completing retirement webinar’s for our company. We were in contact not too long ago about this. Would you mind contacting me.

Thank you
Jennifer

]]> By: *pol http://gailvazoxlade.com/blog/archives/619/comment-page-1#comment-11144 *pol Wed, 13 May 2009 19:55:40 +0000 http://gailvazoxlade.com/blog/?p=619#comment-11144 Some heavy thinking.... I will need to sit and do the calculations hard and seriously! There is something else to consider and that is the longetivity of the spouse. Are you depending on their pension? How much is left for survivor's benefits? Or what if the marriage is a bust after the kids are grown (it happens)! I for one do NOT want to be a senior living in poverty. Therefore a plan is necessary. Some heavy thinking…. I will need to sit and do the calculations hard and seriously!
There is something else to consider and that is the longetivity of the spouse. Are you depending on their pension? How much is left for survivor’s benefits? Or what if the marriage is a bust after the kids are grown (it happens)!
I for one do NOT want to be a senior living in poverty. Therefore a plan is necessary.

]]> By: Heather http://gailvazoxlade.com/blog/archives/619/comment-page-1#comment-11133 Heather Wed, 13 May 2009 14:48:24 +0000 http://gailvazoxlade.com/blog/?p=619#comment-11133 Thanks for this post, Gail. Over the next couple of years my husband and I are going to live on his paycheque and put my pay into savings. I am sure that we can do this. It will mean we will have to cut down in some areas. Your advise as been so helpful in our lives and because of you we are keeping on the straight and narrow. Everytime I go to buy something Gail is sitting on my shoulder saying to me "need or want" most times it is a want and not a need and I end putting it back on the shelf. Thanks for this post, Gail. Over the next couple of years my husband and I are going to live on his paycheque and put my pay into savings. I am sure that we can do this. It will mean we will have to cut down in some areas. Your advise as been so helpful in our lives and because of you we are keeping on the straight and narrow. Everytime I go to buy something Gail is sitting on my shoulder saying to me “need or want” most times it is a want and not a need and I end putting it back on the shelf.

]]> By: Marie http://gailvazoxlade.com/blog/archives/619/comment-page-1#comment-11130 Marie Wed, 13 May 2009 13:56:18 +0000 http://gailvazoxlade.com/blog/?p=619#comment-11130 The difficult part of the calculation are: - How long will you live? - How expensive will retirement homes be? Some retirement homes cost between $2000 and $5000 per month! I can't afford most on a salary! I find that hard to calculate. The difficult part of the calculation are:
- How long will you live?
- How expensive will retirement homes be?
Some retirement homes cost between $2000 and $5000 per month! I can’t afford most on a salary! I find that hard to calculate.

]]> By: Colin http://gailvazoxlade.com/blog/archives/619/comment-page-1#comment-11124 Colin Wed, 13 May 2009 11:51:54 +0000 http://gailvazoxlade.com/blog/?p=619#comment-11124 Ah retirement. That life event that seems so far away and yet, you wake one day and it is here. Most people seem to save and save for it without and never plan how they will live out their retirement. That is a huge mistake. How can you possibly know how much money you will need? Your lifestyle during your retirement is entirely dependent upon how you age. Your health will affect your retirement. My spouse and I plan to retire when she is 55 and I am 50. We are planning an active retirement until about 70. Why 70? We have looked around at family and friends and most people seem to slow down considerably at 70. That is not to say that we will be checking ourselves into a senior's home at 70. It is just to say that we accept the inevitable. We are aging and along with it comes certain changes. We have also agreed that when we retire we are going to sell our expensive city home and move to a smaller, less expensive community. Yup, this means that our financial goals right now are not to maintain our current standard of living into retirement. We have decided and are planning for changing our standard of living when we retire. Smaller house, different community, different goals. And we have accepted that life changes as we age. We have learned from the experience of others and know that maintaining a house, for example, as we age is a lot of work. So, we have planned to have a house, buy a condo and eventually rent an apartment. Shelter is shelter and neither of us want to sacrifice our standard of living by having huge chunks of money tied up into real estate. Hey, we save for retirement for one reason and one reason only: to spend during retirement. And that is what we will do. Gail was correct when she stated there is no need to live like a pauper so that we can leave money to someone else. Ah retirement. That life event that seems so far away and yet, you wake one day and it is here. Most people seem to save and save for it without and never plan how they will live out their retirement. That is a huge mistake. How can you possibly know how much money you will need?

Your lifestyle during your retirement is entirely dependent upon how you age. Your health will affect your retirement. My spouse and I plan to retire when she is 55 and I am 50. We are planning an active retirement until about 70. Why 70? We have looked around at family and friends and most people seem to slow down considerably at 70. That is not to say that we will be checking ourselves into a senior’s home at 70. It is just to say that we accept the inevitable. We are aging and along with it comes certain changes.

We have also agreed that when we retire we are going to sell our expensive city home and move to a smaller, less expensive community. Yup, this means that our financial goals right now are not to maintain our current standard of living into retirement. We have decided and are planning for changing our standard of living when we retire. Smaller house, different community, different goals.

And we have accepted that life changes as we age. We have learned from the experience of others and know that maintaining a house, for example, as we age is a lot of work. So, we have planned to have a house, buy a condo and eventually rent an apartment. Shelter is shelter and neither of us want to sacrifice our standard of living by having huge chunks of money tied up into real estate. Hey, we save for retirement for one reason and one reason only: to spend during retirement. And that is what we will do. Gail was correct when she stated there is no need to live like a pauper so that we can leave money to someone else.

]]> By: Yvonne http://gailvazoxlade.com/blog/archives/619/comment-page-1#comment-11122 Yvonne Wed, 13 May 2009 11:35:56 +0000 http://gailvazoxlade.com/blog/?p=619#comment-11122 two more things...they seem obvious BUT they are not to everyone.. 1.) Do NOT rely solely on your company pension no matter how good it is! 2.) You are never too young to start your own RSP...it's an affordable option available to anyone over 18...once you are done school and in the work force the first thing you should do before you collect that 1st paycheck is open an RSP and start an automatic contribution to it. two more things…they seem obvious BUT they are not to everyone..

1.) Do NOT rely solely on your company pension no matter how good it is!

2.) You are never too young to start your own RSP…it’s an affordable option available to anyone over 18…once you are done school and in the work force the first thing you should do before you collect that 1st paycheck is open an RSP and start an automatic contribution to it.

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