How the hell are we supposed to retire?

[Norm]

Our CFA plans for the Go Go years, the Slow Go years and then the No Go years. Says most people tend to spend more than their former income for the years just after retirement due to traveling much more while they still can. This all slows as they age. Based on seeing what both of our parents did this seems to be reality.

This seems to be pretty reasonable to me as well. You're just not going to go on that Hike to Machu Picchu when you're 84 years old. I mean maybe you can, but that's like a 1% reality. I guess a lot of people in that age bracket start doing cruises so there's a counterpoint to that argument. But I think it's pretty valid that you're going to do more and spend more in the 10 years immediately after you retire.

 

[John the Plumber]

Our CFA plans for the Go Go years, the Slow Go years and then the No Go years. Says most people tend to spend more than their former income for the years just after retirement due to traveling much more while they still can. This all slows as they age. Based on seeing what both of our parents did this seems to be reality.

We lost the majority of the NYC commuting and dining expenses during Covid when my wife switched to WFH. Not sure I really noticed any excess in spending money though I know my wife's dry cleaner took a huge hit.

The biggest cost savings for us could be moving out of NJ. Our son is 5 hours away but I don't see my wife ever wanting to be any further away.

Understand. I really like NJ I live in SJ shore community so the kids and grandkids come to visit a lot in the summer months to go to the beach. Also the Stay NJ Act cut property taxes by 50% so that makes it a little more affordable.

 

[stb222]

This seems to be pretty reasonable to me as well. You're just not going to go on that Hike to Machu Picchu when you're 84 years old. I mean maybe you can, but that's like a 1% reality. I guess a lot of people in that age bracket start doing cruises so there's a counterpoint to that argument. But I think it's pretty valid that you're going to do more and spend more in the 10 years immediately after you retire.

My parents are 76 and have latched on to the European river cruise market and are just finishing up a trip a trip from Romania to Austria. While I am not a cruise type person, seems to be a good way to see these cities but not be worn out as much from traveling between cities through other means.

 

[Cassinonorth]

This could be 1000% false, but coincidentally (they're listening) this just popped up on FB. This is the number of closed IRS audits for 2024.

View attachment 271367

This is interesting. Wonder how many GC's accepting mostly cash bids driving G-Wagons that fall into that category vs them going at low hanging fruit from people who can't afford lawyers to fight them.

 

[John the Plumber]

My parents are 76 and have latched on to the European river cruise market and are just finishing up a trip a trip from Romania to Austria. While I am not a cruise type person, seems to be a good way to see these cities but not be worn out as much from traveling between cities through other means.

Did a river cruise 2 years ago they are nice way to see different places and learn their culture. Planning one in late spring 2026.