What do you estimate monthly living expenses are for retired people who either rent or don't own their own home. In spite of various costs of living per state, what would you say, ON AVERAGE, a retired couple would need to just "get by" - just basic food, clothing, electricity, gas, transportation. Let's say, estimate from the lowest number to the highest number, between what amt. and what amt.?
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Excellent breakdown, L! These numbers seem quite "right on" For young people who shy away from financial planning, all I can say it "Don't! Force yourself to do it." I like the guess-timate and think that is quite accurate. Very helpful! Thank you.
You're Welcome. If you are having any trouble...Sometimes groups like NAPFA and the FPA have local advisors that due pro bono work. http://napfa.org/ or http://www.plannersearch.org/What-is-FPA/Pages/Abo...
We put ourselves in a great neighbor by living in an RV. We have no truck and have to move it every six months. It's small, but I have a computer desk and we have a queen size bed. We actually love it. It feels like a perpetual vacation!
Dear TMM, very helpful to know that percentage. We sold a house to be debt free and only have our RV payment. I also feel like I want to soar in our business and INCREASE our income. There IS an audacity to hope, but I'm becoming audacious!
D, Thank you! That's what we found out when we were living in SC about 10 yrs ago. A furnished apt was $800. You can stay in an RV in southern CA for $1200 and under. We essentially live in 460 sq ft., but u don't need much when u can be outside