Trying to retire on Social Security only. May 2024 update.
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- Опубліковано 29 тра 2024
- 6 months into our year long tracking to determine if I can stay retired. Can we go one full year and take less than $1,000 from savings? Time will tell!
#buzzretirementgarage
#retirement
#socialsecurity
#livingonsocialsecurityonly
While you may choose to spend your funds differently than others, the important thing is that you are living within your monthly income budget. I enjoy these monthly breakdowns and your comments.
Thank you. We're trying. Buzz
Definitely Kim, spending less than your income is key 📅
10:22 Buzz is working on reducing grocery expenses by cutting back on processed food and paper products, and saving money on pet products by buying in bulk and waiting for sales.
I have an appreciation for someone who has taken the time to really work out their finances. Just don't forget to enjoy life.
I'm enjoying the heck out of retirement. I wish I would have been doing this years before retirement. I thought I was a good shopper but I've learned many new things to reduce costs from the commenters here. Living good! Thanks for commenting! Buzz
Haven’t watched Tv in many years. The free movies on UA-cam are endless so I take advantage of that.
I could do the same but I have a set in her ways wife. Buzz
ME TOO REALLY SAVES
Agreed. My wife and I aren't quite to social security age yet, but already living now within my pension amount by budgeting. So SOS will be extra for us. We cut cable and have a window antenna. We watch some free Ruku channels we get and movies online for free like you do. Do that only and they are within their budget. We rarely go out to eat either. Grocery bill is ridiculous. Should be able to shave 100+ easy off that. My wife cuts my hair. (She has gotten better at.) Like anything, you just do your best to make it work! They are pretty close though all things considered.
"At this moment, lying on my bed and recalling my life, I realize that all the recognition and wealth that I took so much pride in have paled and become meaningless in the face of my death".
Steve Jobs died a billionaire at age 56
Absolutely true. Everyone needs to define how much is enough. Buzz
maybe he realized that when we get to heaven, there is one, all that will matter is how we showed love. 🤍
God bless, and thank you for sharing this with us.
Hospice Nurses & Caregivers know this. Thanks for sharing. RIP Steve Jobs
Yes so true my husband died also at 56 in a boating accident so anything can happen. I live life simple I don’t buy extras anymore.
I think you're doing great keeping your expenses right inline with your income. You have this side gig and savings to help out when unexpected bills come in, so you're making it work. I won't throw stones at your spending. You and Mrs Buzz will adapt to streaming TV like the millions of others who cut the cord. I find myself watching ABC, NBC and CBS with a simple indoor antenna and then using the streaming service for movies. You can always go back.
Yep. Good comment. I'm fine with cutting the cord. Unfortunately, she's a hard sell. Happy wife, happy life? Buzz
I always enjoy these breakdowns. It helps to see real numbers and not estimations like most channels do.
Real as they can be! Not always pretty either. Lol. Buzz
I noticed there is NO Mortgage!!
So I reckon the house is paid off.
@@metalmike570 yes. I didn't want to retire until I was debt free.
@@BuzzRetirementGarage It looks like the key to your success then and so living off of just
you and the wife's SS is possible!!
Congrats.. 🤑❤💯
I started forming a budget-seeing what our monthly expenses were 1 year before I retired. It helps. Now over 6 years in, I will say that expenses-mainly insurances and food&living expenses have gone up. I hate that I still worry about money in retirement.
We’ve been retired for right at 7 years. The worrying has gotten better😊
This the part that terrifies me about retirement. “Fixed income” for me will be SS and a fixed pension. I worry about how quickly the economy will make things tough for me. Especially as I will always have a mortgage.
Thanks for that comment. Hopefully my insurance won't go too high. Food is another issue but I think we'll see some price reductions. I'm seeing some places saying they're cutting prices. Best of luck to all of us!
Thanks for all the encouraging videos,just turned 64 will be giving notice in am....long time coming
Congratulations! I bet you're going to love it! Buzz
Hey Buzz,was reading info about applying for ss online it said something about sending original birth certificate to them??was this something you had to do?
@@ptk7240 Yep. I highly recommend going to your local office if it's close. They actually run a pretty tight ship. Two different offices I went to they have a security guard, a kiosk to check in, and the wait isn't too bad. You can ask questions too. My 2 cents.
Love the budget reviews Buzz. It's cool to see what others spend on certain things and how costs vary by regions. Have a great retired day.
Thank you. Buzz
I was a hard sell on cutting the cord. It truly was the best thing we ever did. Of course, we only watch tv in the late evening and night. I think your idea of trying it while still having cable is great. Great job, Buzz!
Let's see what happens! Thanks for watching.
These videos are so great! I tracked my expenses in a similar level of detail for over a year, but I got tired of doing it so I combined a bunch of categories to simplify the process. Basically anything we get at the grocery store (including non-food items at Aldi and Walmart) gets tagged as grocery - including pet supplies, paper products, most personal care products, kitchenware, home and auto supplies, etc. Internet and cell phone costs get lumped in with water and electricity in the utilities category, all doctor/dentist/specialist and vet stuff goes in medical expenses. Restaurants definitely gets its own category though, it's always one to watch!
Initially I did that but since I'm making it public, people got on me about food because I had everything lumped in. So, I needed to break it down. Thank you for watching and commenting! Buzz
@@BuzzRetirementGarage Makes sense! The detail you go into is what makes it most helpful. Great stuff!
Been with you since the beginning. Glad you are making it.
Thanks for being here! Buzz
Those house taxes infuriate me. I'm so sick of paying property taxes. Should be a max length of time the government can steal money from home owners.
boo hoo
I hear you. We get socked for our house, and I've got some farmland I inherited. I don't make much money off the farmland and taxes take most of that. Between the two property tax was $13K last year - and it's not that expensive a house.
Most go our schools. We have a decent school system.
@@BuzzRetirementGarageit’s important to support schools, fire, police, libraries, etc. I would rather live in an area with good services and pay somewhat more in taxes.
taxes should be minimal on one house owned, second homes more. But I agree, it's important to have good services that need to be paid for.
I retired at 55. At 62 I started SS $2343.00 per month. As you can see i worked alot. My wife $1633.00 per month. We do just fine. Not rich but do alright. It sure beats working. Have fun
You're doing well! This freedom we have is wonderful! Thanks for watching. Buzz
Great information. I'm planning my retirement now. I'm 62 and sooooo ready!
You're going to love it!
I've been doing better with my budget for the last few years. It keeps me motivated to see real budgets like yours and a few other UA-camrs. Living within my means and it feels good!
It's what we have to do or consider the alternative? Buzz
Thanks for keeping this going. You've got guts to put up with us.
You'all are alright! Buzz
For some reason you came across my feed & I am now a new subscriber! Thank you for being so honest. It is nice listening to a “normal” person, just trying to survive on SS.
Thank you for subscribing! We have a great group of commenters here and we learn from each other! Buzz
Great update! Thx for being so open!
Dennis
Anytime my friend.
Just found your channel. Great breakdown. I am 70 and chose to continue working due to covid and health complications. We are selling everything in the usa and moving back to Thailand(my wife is thai). We will be living off my social security alone. My wife has no SS income. I am very pleased to subscribe to your channel.
Thanks for the update, Buzz. My wife and I are planning to retire in July 2025. Beginning July 1, 2024, we are going to try living off our Social Security (only) retirement budget. 😊
Brilliant idea!
That's good! Track and see.
I wrote a retirement budget and tried to live off it for a year. What it highlighted were all the annual costs I forgot to add and a few emergency items (plumber and electrician) I hadn't budgeted for. Annual car service, annual vet trip, garden maintaince/equipment etc. By the time I retired, I had allowances for everything.
@@GlenisRetiredNZ Yeah, it’s hard to remember some of the things that only up once or twice/year.
I can’t imagine you ever going back to work, you’ve been enjoying retirement way too much! The experiment is proving to be a success, monetarily , health wise and just plain fun ! Enjoy.your time with your wife.
You do have some very good points! Have great Saturday! Buzz
Glad your channel is doing well. You provide much needed content. Thanks!
Thank you for the kind words. Buzz
Congratulations on exceeding 10k in subscribers 🎉
Thank you!
Hope you start showing your YT income here too.
@@WayneMarcy Will be a recap done late December.
It's so sweet of you and your wife to take care of your new family member, the furry cat.❤ Love the breakdowns❤️
We bought a heated cat house because it was out in the cold. It's a Russian blue so not much fur. She loves it inside! Buzz
Yay! Love these videos! Thanks for doing them!
Thanks for watching!
Glad to see things are continuing to go well for you. Thanks for sharing!
I'm hanging in there.
Thanks for doing these videos Buzz, I will turn 61 this year and am so worried about retirement. The cost of everything keeps going up so much. I am glad to see your breakdowns and does give me some hope for the future, please keep up the videos I am very excited to see how the next six months will turn out. Love the channel!!
Thank you for such kind words. Hopefully it does help a few people. Buzz
Nice update, Buzz! Appreciate all the effort that went into this.
Thank you! Coming from the Godfather that means a lot!
Love your budget recaps! Thanks!
Thanks for stopping by!
congrats on going over 10,000. I'm enjoying the videos. Its nice to see someone elses budgeting plan.
Thank you! Buzz
Thank you for these hard numbers, hardly anyone does this. Great job!
I was doing it for myself so why not share? I can handle the heat I get once in a while. It's all good. Buzz
Doing great with your budgeting, Buzz! 👌
Still have work to do. Without tracking you can't get better.
Love this! This is something the average person can understand.
And believe you me. I'm an average person! Lololol Buzz
I enjoy these monthly updates! You are doing well. It’s so good to see. I can’t wait to get there. I know I’ve said my husband retires next August. I won’t until April of 2028. I have to pay off the house and his Jeep first. I’m hitting the house big time it’s extra payments. That’ll be paid off 7 or 8 years early I think it is. We have three vehicles so our insurance is $169 a month with Geico and we have our home insurance with them as well. I’m looking forward to hearing about your gift card give away, that’s fun! Can’t wait. Thanks for sharing as always.
Thanks for watching all the way through. I can't wait until you get to retire too! You're going to love it! Have a good Friday. Buzz
Another great video. Don't apologize for spending your money on what is important to you. Knowing your expenses is the key to a successful retirement. BTW way, as one who may have 2 years on you, you're looking good and slim. Glad the weather has improved in Cleveland
Thank you! Getting some knee pain but I'm working through it! I appreciate your kind words! Buzz
Love the visuals! Love the video
Thank you for watching and commenting. Buzz
I look forward to these every month! I think you're doing a great job staying within the SS budget, hopefully able to keep it going. Looks like there may still be a couple places to trim while not feeling like your lifestyle is taking a hit (like cable and the food budget). Keep up the good work!
I recognize my deficiency in those two areas. Thanks for watching! Buzz
Great video Buzz!
Hey, nice to see you here! I'm actually doing a Ramblings video tomorrow and I'll be bringing your name up. Stay tuned! Buzz
"Follow the money "is an often repeated phrase in detective shows and an excellent teaching UA-cam video submitted for your approval by Buzz's Retirement Garage. Thanks, Buzz!!
Sounds like a Twilight zone episode.
@@BuzzRetirementGarage Rod Serling superfan.😀
@@davidfolts5893 I watch every night at 12:35 AM.
Always enjoy your videos!
Thank you!
I appreciate your transparency. This is good information!
Thank you! Buzz
Your breakdowns are helpful to me. I'm encouraged that I'm doing great.
Good job. I saw your last video on the SS and pension. You apologized to people who don't make as much which was admirable. Buzz
@@BuzzRetirementGarage Thank you Buzz, It was heartfelt. I have been blessed.
Wish i was in the shape you are in and I'm younger than you. Thanks for sharing your SS trial budgeting and costs. For someone like me who likes to plan ahead with real world examples its honestly for lack of a better word, comforting.
My friend, looks are deceiving. My knees are shot. No more marathon running for me. Wait, I never ran a marathon. Hmmm. Thank you! Buzz
Very well laid out. Thanks. It's helpful
Thank you for watching! Buzz
You two are doing great with your household budget. Godspeed
Trying like heck. Still trying to improve. Thank you for watching! Buzz
Thank you, appreciate the transparency.
Thanks for watching! I appreciate you. Buzz
New Subscriber here. I'm not ready to retire but I can see the light at the end of the tunnel. Thanks for the details. I don't think you need to go back to work full time and you have the luxury to work at something you enjoy. I don't have a Million dollars saved but if I work part time to put away for WANTS and EMERGENCIES I think I'll be fine. I figure it's safe to take the 4% rule and keep invested in secure things that pay 6% on average. Yes inflation will take a bite out but I'm not going to live forever. My job isn't to leave my kids a fortune or give the state all my money either. It's to live and enjoy my last 30 years. Note that doesn't include lavish trips around the world.
You and I think similarly. Hopefully you get to the big day soon! You're definitely going to love it! Buzz
Congrats on more green than red months 👏👏👏
Changing the cable/internet provider is the biggest challenge for sure. We’ve gotten spoiled with DVRs and on demand. We have fiber so finding a cheaper alternative is almost a non-starter.
P.S. In the process of replacing that refrigerator evaporator fan today!
Thanks for checking in! I saw an email pop up. I better check. Buzz
Love these updates! I will be tracking my monthly expenses starting in June to help prepare a budget. Wondered about 1 time payments and I see you spread it over the whole year...I wasn't sure but makes sense. (Some are relatively small like an Umbrella Insurance premium, etc.). Thanks!
Most of the big expenses I break down monthly. Thanks for watching! Buzz
I like your straight forward approach and your explanation. Moreover, your willingness to be transparent on your numbers. I’m a few years away from retirement and working on my plan. Appreciate your thoughts and perspectives on this.
Thank you for watching. I give my numbers to get people to think about their own expenses. One ingredient of happiness in retirement is not worrying too much about running out of money. In my case, if we can stay within the SS allowance, and use savings only for emergencies and travel, we'll be ok. Buzz
Collecting some data.....you are a smart man and doing it the right way.👍
I don't know about smart but maybe a little common sense? Thank you for the compliment. Buzz
I currently pay $795 rent. I like my apartment, but could do better. I have been looking, and realized that a cheaper house that is ugly is not a good trade. Gives me more money to try to make ugly house look better, but 1980 tile isn’t going away. I’ll keep looking, but I realized there is VALUE in quality of life. While your grocery costs concern me… I hope you will look for a produce market to enjoy your food for less. Costco and Sams have good meat prices. Maybe introduce those rotisserie chicken bones to a crockpot? You can feed the broth to cats if you have no use for it. My cats eat kibble, can tuna, chicken broth or scraps (whatever I’ve got). I don’t buy canned cat food.
You can’t take it with you! I fully support your choices.
Thank you for your comment! I appreciate your advice! Buzz
$800 a month rent? Where?
Great auto rate, I pay $800 every 6 months
I think you are more on top of your expenses that most people. I am trying to do the same thing as you are and we did recently reduce our cabe by $100. Sometimes things are are out of our control. To me your food budget is actually very close to ours. Thanks for sharing it is helpful
Thank you for watching. We were careful when I was working but if I wanted something I bought it. I started tracking before retirement so I could figure out when I could retire. Once I was debt free, and I knew our SS could cover our expenses, it was time to pull the trigger! Have a good day! Buzz
Congratulations on 10k subs!!
Thank you!
Looks like your case study of retirement on only SS is working. Your expenses are not overwhelming the plan. Great work Buzz.
Just crossing fingers no major biggies show up. But, I know they will.
My husband still works. Remote but he does travel during the day.
He is 67.
I worked until 68.
Working past your 60s is not bad, if you are working remote or not doing outside labor.
I like your channel and wish you the best!
Thank you for watching. Good luck to both of you. Buzz
When you turn 65 you need to check out the difference between traditional medicare and United. In the long run medicare is best. I was in health care and heard so many sad stories about United.
At this point I'll get what we got for my wife two years ago. Supplement Plan N. Costing her about $90/month but all she has to worry about is a $240 deductible for the year and up to $20 for doctors visits. Of course, this is in addition to the $175 that most people pay for Medicare part A and B. This year her drug plan D from Wellcare had a zero monthly cost.
Thanks for this video. Get rid of your home phone. No one has them any more. It’s good that you are looking at your cable costs. Three months before age 65, contact your state health insurance program (SHIP) to do a Medicare insurance comparison for you and your wife. Enjoy!
I'm going with N plan. Advantage plans are interesting but I'd rather have more guarantees. Thank you! Buzz
Hey man I appreciate what you’re doing here. If anything it’s going to help us better plan for when we retire
Your expense is close to ours.
God bless
Thank you for watching! I appreciate you. Buzz
Gosh I have just come across your channel and I am amazed at how much you spend on health insurance (most people do not have this in England, we have the N.H.S which is free at the point of delivery). Also your budget is really good as is your total breakdown of costs per month. I think I will give this a go. Property taxes I pay willingly as it pays for all services and where I live (sleepy hollow land, crime is very low...........this also could be due to the number of Police and Doctors who live in my street). I wish you and Mrs Buzz a comfortable retirement.
Thank you for watching! Yes, our healthcare costs are high but you have probably been paying into it with your tax structure? Hopefully we can continue to stay under budget! Buzz
Hi Buzz. I went and got some of those breakfast sandwiches you recommended from Costco. Those are so good, especially heated in an air fryer. Thanks 😊
Glad you liked them! I should try them in the air fryer. Good idea!
Hey Jake,I was just checking out your video and you are from Cleveland. I live in Lake County in Concord Township. Nice to hear someone close by, I also lived in Cleveland Eastside growing up to. I am also retired to, learning to budget are mony and save here and there.
When I see Jake I'll be sure to tell him!
Love the idea of this experiment, i need to try this too. I just subscribed 😊
Thank you for subscribing. Trying hard to stay under budget! Buzz
Buzz, looks like you are doing well. You go! Marc C. Out
I'm giving it hell. Thanks!
The big scheme of things buzz you are doing wonderful.
Baby steps for anything you might want to change😊
Continual improvement. That's the key.
Will the gift cards be for Tractor Supply bird seed? I am running low also and feel lucky!!! Good job on tracking your expenses. I am eating supper and almost spit out my food when you said the reason for all this, but you did explain it well enough that I gave you a pass on it. Because I am sure you knew my first thought about that. If you get a side hustle, make sure it’s a fun one and does not put you back on the freeway early in the mornings or during bad winter months Buzz!!! You are a blessing. ❤☺️. Also we just switched to UA-cam Tv. We are keeping it.
Thank you for watching all the way through as painful as that may have been. Don't spit your supper out. That's a good buck fifty you'd be losing unless you go by the 5 second rule. You're something else. Lol. Buzz
Hi Buzz! My husband and I just returned from two weeks in Michigan, so I could not wait to find all the videos I missed! Great job on your food budget! I commented on my first viewing of one of your videos that your food budget was way too high for two people. Again, great job! The amount spent in May is HALF of what it was when I saw your first or second monthly check-in! One more challenge to offer you. When I really started looking at my food budget, I was including non-food items as well (hygiene, cleaning products, etc). Why don't you try to separate them out, if you are not already, and get a truer number for your groceries and see how that turns out. Just a suggestion. I am glad to be back at my desk enjoying your videos! Take care!
Thank you for watching and sharing your thoughts! Hope your trip went well. Our grocery is just grocery so don't give me any credit yet. I'm trying to work on it but it takes two to be fully engaged in the process. Hope you have a good week! Buzz
@@BuzzRetirementGarage Buzz, yes, please take credit! You have come down on groceries almost 50%. That is Outstanding!!
Always enjoy your chats! I have a very similar daily spreadsheet on my computer. I'm just breaking even, but since I prefer to rent, my housing costs are the largest hit to my budget. Fortunately, there is a wide range of housing options around me. I'm in the process of completing an old-fashioned Swedish death cleaning so that if or when I move again, I won't be paying movers as much!
Always look for ways to save. I struggle doing the cleaning of stuff that's not needed. In other words, I get yelled at if I try! She has some kind of nesting complex. She says she'll get to it but it's been 10 years. I have a hard life. Lol. Buzz
@@BuzzRetirementGarage Having 'stuff' around you can be comforting. If your current home is your forever home, there probably won't be any Swedish death cleaning in your near future! A game-changing life event or a desire to do other things that need the space are usually the main inspiration to do a de-stash. To me, Swedish Death cleaning is the best way to show respect to my only child by not leaving them with a mess to handle! Every day is a happy blessing for me. I could live to be 125 or be gone tomorrow. In any case, I don't want to have this burden or to leave this burden!
It took me a full year to talk my wife into dropping cable. We kept the cable internet and negotiated it down (pay about $50/mo for 200 download speed) and we are now with Sling at about $78/month because she insisted on getting almost every channel. Still, it cut my bill in half and we're mostly happy with it. Plus, it does have DVR functionality. Our budgets look almost identical (we're in Michigan) and like you, we're having a heckuva time cutting our food bill. Thank you for sharing your eperience!
Thank you for commenting! My contract with the cable company expired and they raised the bill over $40/month. Last night I printed out the options that could reduce our cost but I'm not happy with those options. UA-cam TV has a 3 month special at $58 then goes to $73. I'm going to start that today. See how it is. Buzz
Have you tried watching youtubers who help with this. I enjoy watching a few who teach on how to cook on a budget. While it may not be for all, it may be for some. Even if you do it for a meal or 2 a week, it may help you immensely with your food budget.
@@suedefringe My wife has actually written cook books. Our problem is pure laziness. Buzz
I have Cox also, yes a little pricey but good. My daughter streams , I hate it. T-Mobile is good also we have it but I did get a text the other day from them, that they are increasing our rate $5.00 per line. Been with them for over 13 years. Also my parents ate some processed foods all their life their 87 and 86. Love the channel Buzz. ❤️🌵
My wife loves her cable but we need to try different options. Me, I could do without it altogether. Let's see what happens. Have a good day my friend! Buzz
Hoping you do not have to go back to work!! You are enjoying retirement so much 😎
I certainly am enjoying it but I've always done what makes sense to me. If I need a few extra bucks i can assemble widgets at Stanley Black and Decker. 4 miles away. Buzz
Great breakdown. Thanks do or sharing.
Thank you!
You have brought up before that you feel you will pass before your wife. This brings up two questions. #1- What would her budget look like, in that event? And to flip it around, #2- what would your budget be if she were to pass first? This could be a future video. Seems like something that couples should consider.🤔
Great idea. I'll do that soon and credit your idea! Buzz
My husband, 70, says this too and I remind him his grandmother lived past 90 and his mother would have too but passed away due to an accident. I tell him we need to plan for our pensions and savings to last until 85, at least.
The video is out my friend!
Looks to me like you are doing great!
Keep it up 👍🏼
If I had to remodel the house like you, I'd be moving in with you. Lol. Buzz
@@BuzzRetirementGarage lol 😂
Thanks for the info. I should start a chart like this. We always have enough to pay, but I don't always know where it all went. Our biggest vice is eating out too much. But I like it so much!
Eating out is a tough one. I large pizza and a small GF pizza with 10 wings costs $63. Meal for two with tip at Red Lobster is $109. Crazy.
@@BuzzRetirementGarage Sounds good!
Congratulations on 10k
Thank you!
Another good month Buzz and as Duane says "you got this"
Guess I'll have to come up with my own tag line. Maybe "crush it". Wait, that's taken too. Can you think of one? Buzz
This is completely awesome!
Hope you liked it? Buzz
We retired 2 yrs ago,so we had to some deductions,,we bought a firestick for our HD TV and antenna for roof,we subscribe to Disney Plus,Hulu and Peacock runs $20.00,Wifi from AT and T is $55.37 per mo.Cell phones right now are $80.00 for 2 phones,we are changing to Consumer Cellular for $50.00 for 2. Need to look into much cheaper $ for seniors. This has helped us alot.Try to not touch savings if possible. And goodluck. We live in Ohio also!!!
You're doing a similar path. Thanks for sharing. I love to learn from others! Buzz
Sounds like your "on track" You are pull in free HD channels with the antenna while using a low-cost Peacock subscription.
While you can still work on the budget and get better numbers, you are absolutely doing great. I may adjust my budget as a result...thanks!!
Thank you for your kind comment! We all have work to do. Buzz
Just found your channel and subscribed. I live a little south of you so don't have the lake affect. My numbers differ from yours but the hearing other people's numbers is a good way to survive in todays world
Thanks for subscribing! Right. Everyone's numbers will be different but it helps if we learn everyone's situation in the comments and maybe develop best practices that can help everyone in some small way. Buzz
@@BuzzRetirementGarage I am working my way back through your videos. I had somewhat a busy career. Had a hard time being idle. Worked mostly 6-7 days a week by choice. I thought of retirement like flicking off the light switch. A fellow retired person said it would take about a year to understand it. Hobbies are a must
@@spanky3458 Took me about 6 months and I'm on month 8 right now. Weather plays an important role. If I had a choice, I'd retire in March then by the next winter I'd be good. Buzz
Looking good, Buzz. Only you can decide where to allocate your money. Being aware of where it’s going is what’s most important. Have you reached any conclusions yet on whether you’ll go back to work or is the jury still out? You seem to be enjoying your retirement so I am Team Retirement for you. 😊
Jury is still out. Market is doing good but is bound to fall. Costs are going up. If I was plus $500 or more each month I'd feel better. Thanks for the support! Buzz
Thanks Buzz 🐝
Thank you!
Ask your wife to write down all the shows she has recorded so she knows what they are and if you go with UA-cam TV you can go back and watch most all shows. I have used it for almost 3 years and I love it. I record all shows I watch. I also have Centurylink for my internet and I LIVE IN Oregon.
I'm doing that tonight! Good thinking. Buzz
I really suggest Philo for $25 a month, throwing peacock or paramount and you will be good. Get yourself an antenna for local channels and you will really cut your expenses.
I like the channels on Philo but the don't have the major soaps like CNN, Fox or MSNBC. My wife watches them when the TV is on. Happy wife, happy life I guess. Buzz
I just thought of one other item. Medicare does not pay for home healthcare for an ongoing time. Most people wind up needing this at the end of their life. So, you can cover that with savings, long term care insurance, a rider on life insurance, or the Area Agency on Aging will put you on a waiting list for a program that helps pay for it. Depending on which state you live in, the waiting list can be years. So- figure out the cost and how you’d pay for it.
They do pay for for some home health care and hospice care. I think it's enough to get me through? When I sign up in January I'll learn more. Buzz
The budget is the most important yet most overlooked plan to success. Less than a month for me. I already signed up and paid for my ACA plan for the month of July. Pretty expensive, but not as bad as I anticipated without any income credits.
All right! Count those days! You're going to love this new life. Buzz
Thanks Buzz
Thanks for watching!
Excellent presentation and detail of expenses. My big improvement was on Auto insurance. I put the collector cars on Hagerty at $67 a month for all three. Huge savings for us. The technology cost (cable / internet) is something I could eliminate given my smart phone has unlimited internet with a hot spot. Just need to talk the wife into giving up the TV for You Tube and eating out less. Of course, as newly retired, Medicare, and supplemental health surprisingly takes a big bite out of the pension. I have seven insurances between Medicare, Supplemental, Vision, Dental, Auto, Homeowners and Life ! Seems a better Idea just to buy and bike and wing it sometimes.
Thank you for your nice comment. Good job on the auto insurance! As we go, we'll both modify and improve where we need to. Buzz
😅plump! Just keep moving and keep yourself busy. It's all good. Thanks for the informative and honest and fun video.
Thanks!
Omg. Thank god you got that bigger board …..❤️🌵
Had it last month too.
Oh ya saw it last month, never miss, I have no idea how you can be this detailed. Good job, I couldn’t do it. ❤️🌵
Thanks for the video, I’m mid 40s getting a late start on retirement savings. I wish I had educated myself on this topic earlier.
You and me both! Thanks for watching. Buzz
Hi Buzz. This was really great to see your American expenses. Social security in the UK is $1213 per person. There's a two tier pension system where some people pay into and then take a private pension as early as 55. We live in France to make our pensions go further.
Thank you for watching and commenting! I have subscribed to your channel and I will check it out when I wake. Thank you for sharing my video as well. Have a good day! Buzz
I also have State Farm for my insurance needs, I really don't like driving anymore and since I only drive 1000-1200 miles a year, my vehicle is a 2007 Jeep (I bought it brand new in 2007) now has 120k miles and gets 26 mpg. so I utilize a program they have called "Drive Safe & Save", $192 full coverage car insurance per year.
That's a good deal but don't they hook a device to your car for that low rate? I'm not comfortable with that yet. Lol. Buzz
@@BuzzRetirementGarage I agree. I don't want them spying on me and selling all of that data to the highest bidder.
@@BuzzRetirementGarage we have joined the drive safe and save with State Farm. It is a tracking device of sorts, but it has saved us $350 every 6 months.
With the app, you can see where improvements can be made ( braking, speeding, cell phone use while driving).
It is weird to be tracked, but our cell phones kinda do the same thing. 🤷♀️
@@WayRich14 I hear you about the cell tracking. I'm meeting with the agent next week. I'll ask him about it. Thank you. Buzz
We bought router and now buying dvr and and bundle will be $110. At about $25 week, we get our moneys worth. Its all about cutting cost, and being comfortable. Your grocery bill is outrageous ❤.
I should be able to save $100 a month to start with UA-cam TV and T-Mobile Internet. Hopefully it works out. My food? You're right. Buzz
I’m shocked and how low your car insurance and home owners insurance is. How old are your vehicles? This is really impressive and thank you for sharing the breakdown.
Really impressive!
One vehicle. We've been with State Farm 30 years and have multiple policies with them. Buzz
That pet budget is kinda off the hook there. Appreciate you sharing!
Wet food, dry food, litter, bird seed. Not cheap.
Consider having just internet access and then use a roku device to watch whatever you want. A simple HD antenna will allow you to get local channels if you want to watch anything on network TV. We rarely turn on network TV, otherwise known as commercial city, unless there is severe weather. There are some awesome channels on roku for no cost and there is a live TV channel. It is really awesome.
Won't work for her. She has to watch channels that are currently only found on Sling and UA-cam TV. If it was just me, no problem. Buzz
@@BuzzRetirementGarage you can get both on Roku fyi
If you could cut the grocery bill you would be breaking even. I would put away 10% away for savings to help with surprises.
Agreed! More work to do!