How we went from $42,000 to $6,500 and lived to tell about it!

[me&thegals]

Hah! The SS tricked me for a bit! Social Security. I completely forgot about Social Security! I think it's because I kind of assume it won't be there for me 32 years from now when I'm going to need it. It would be really cool if it were, though.


It does bring up an interesting point, though. If someone were to be nearly SS (as in self suff.) their entire lives, what would they have built up for Social Security? At some point they would have to have scurried away some $ for things that simply have to be bought or to take care of purchasing things they can no longer grow/hunt/make themselves. Hmmmm....

 

[Farmfresh]

I have just been mostly lurking around here. But the point you brought up me&thegals brings to mind a conversation I had with my MIL several years before she died. She was very distraught one day and when I asked her what the problem was she mentioned that she was worrying that "the way things were going" there would be no Social Security for me and my hubby to rely on.

I was actually able to laugh. We have never planned on Social Security. It has been obvious that it is a system that has run its course. I figure we will work till we can't and then we will die. It is good to have a nest egg and plan for the future, but how could anyone ever be prepared for all of the possible problems a future could hold. That is where trust in God and faith must take over. It is what allows me to always rest easy.

 

[hwillm1977]

The typical costs of staying in a facility is anywhere from $6000~$9000 per month. Unless you sign your property over to your children at least 4 years prior to being admitted to a facility, you will have to sell this to pay for your care.

Typical cost of living in a retirement facility: $6000-9000/month

Typical cost of living on a cruise ship (which can have a full medical center on board) : $4000-6000/month

My mother has discussed it with me, and if something should happen to dad she wants to sell everything and live on a cruise ship travelling around the tropics and eating fantastic food.... I've told her she's welcome to stay with me whenever she wants to be on dry land

I think it's a great article about people who have a really good attitude about their situation, whether it's true or not... how would we ever know without more details?

 

[Beekissed]

I read about a woman who did this very thing! I thought it was genius!

 

[Beekissed]

I have just been mostly lurking around here. But the point you brought up me&thegals brings to mind a conversation I had with my MIL several years before she died. She was very distraught one day and when I asked her what the problem was she mentioned that she was worrying that "the way things were going" there would be no Social Security for me and my hubby to rely on.

I was actually able to laugh. We have never planned on Social Security. It has been obvious that it is a system that has run its course. I figure we will work till we can't and then we will die. It is good to have a nest egg and plan for the future, but how could anyone ever be prepared for all of the possible problems a future could hold. That is where trust in God and faith must take over. It is what allows me to always rest easy.

I'm with you, Farm. I rest easy as well....no worries about my future as I know what will be will be according to God's will. That's enough for me.

 

[framing fowl]

How many of us as part of our SS plan are or are working on becoming debt free? Totally... mortgage, student loan, everything??? I haven't been here long enough to have a good read on the group. I know we are working toward that. After looking at this past year's actual expenditures for 2 people, if we were completely debt free, it would take us $11,423.47 to live this past year (lots of fat to trim!!). I think it is entirely feasible to live on about $6k with no debt.

I love the creativity, it's not for everyone but that's what's great about self sufficient networks. Not everyone has to have chickens, not everyone has to bake bread. We can all do our thing and the more friends we have, the easier it gets.

I do think the article was glossy but it definately can be done! At $4.50/loaf that's only 28 loaves to sell per week (provided that the business expenses come out of the $6,500)... puts it in perspective

 

[me&thegals]

I love the cruise ship idea for sheer creativity!

As for debt, we are definitely trying to pay off our mortgage ASAP. We're on the fast track to avoid as much interest as possible. When our car finally conks, we'll pay for what we can afford to out of pocket. To me, interest is to be avoided at all costs

$6500, though? At 2008 property tax rates around here, property tax alone would chew up more than half of that. Don't think we could do it here.

 

[Beekissed]

I'm working towards debt freedom....I only owe a student loan of approx. $11,000 right now but that's a lot to me. I've worked real hard at not obtaining debt all these years, so I'm not buried over right now.

You know, my sis just bought a jug of unpastuerized ACV with the mother....costs $17.

The heck with bread! I'm going to put all my efforts into making vinegar next year!

 

[Farmfresh]

I would LOVE to be debt free. And I have the bull headed hubby that intends that to be the case BEFORE we ever buy any land.

I owe I OWE .. so off to work I go!

 

[hwillm1977]

I love the cruise ship idea for sheer creativity!

As for debt, we are definitely trying to pay off our mortgage ASAP. We're on the fast track to avoid as much interest as possible. When our car finally conks, we'll pay for what we can afford to out of pocket. To me, interest is to be avoided at all costs

$6500, though? At 2008 property tax rates around here, property tax alone would chew up more than half of that. Don't think we could do it here.

We're definitely working hard to pay off all debts... we have 14 months left on the mortgage, and 3 years left on a stupid truck that we will be paying down faster once the mortgage is gone.... we are considering buying a large plot of land though, and are willing to go into debt to get that... but our mortgage on the land would only be 5 years, and it's enough land to be completely self sufficient on.

Property tax would depend on where you live, our property tax last YEAR was $217.00 (we don't have a house that is assessed for much though... lol)