Who Else Will Retire To Full-time In 2018?
I don't know if this will be a popular thread or a dumb idea, but here goes. I saw a post here recently (maybe two) where members said they plan to retire and begin full-time RV life in 2018. That's...
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DallasSteve wrote:John&Joey wrote:
Just wondering did you factor in inflation? Been pretty low for awhile, but that's what killed my F&MIL after 10-15 years of their retirement.
Social Security payments get an annual cost of living increase based on the amount of inflation, so I will stay at about the same level of real income. The increase is not perfect and it's not a lot (in 2017 it was 0, in 2018 it is about 2%). But currently it can also get eaten up by Medicare premium increases. Maybe that is where your in-laws got wrecked, I don't know.
No inflation is what wrecked them. SS and how they figure your COLA is a far cry from the real world. It was a slow downward spiral for them, then an expected event would happen like needing a new roof, furnace, or car repair. The credit card would get hit up, and then the interest rates would start delivering the killing blows.
Needless to say family helped where and when we could. The biggest help was a family member doing a personal reverse mortgage for them since they owned their home. He picked up the yearly taxes, did major repairs, gave them a monthly payment, and allowed them to live there rent free till they no longer could.
