what or where do retired folks spend their money?

[look 171]

Originally Posted by Jim Richards

Remodeling my home!

Our expenses in retirement are low, for now. We're debt free. We only gas up our cars every two or three weeks. Eating out once in a while. Our utilities are low since our house isn't too large and we upgraded our windows and insulated the house a few years ago.

You keep that remodeling up, you hear. I have started your drawings and planning for the third story addition already.

[Brian 162]

I do some travelling.I just returned from the nascar race in Bristol. I'm replacing my house/garage roof plus my shared fence in the next couple of weeks.
Other than the roof/fence I don't spend too much.

[RF5BPilot]

I am retired; wife still works. Debt free. That said, basic utilities/insurance/etc. are about $1200/month. I have a hobby car that I like to drive/tinker with. Wife (at least for now) has a horse (probably $1500/mo). Probably put $12-$16k/year into health expenses.

Over the years, we have preferred to put our expendable income into our hobbies rather than travel. A couple times a year will spend a weekend at the Washington coast. She will do the occasional trip to visit relatives in AZ. But we live a relatively modest life, having dialed in the things we really enjoy doing and ignoring the desire to buy more stuff, eat out a lot, hire lawn care-housecleaning services, etc. Makes a big difference. That said, we have the reserves to take a big trip if we wanted. Other than maybe New Zealand or Amsterdam, no place really calls to us.....and we don't like large cruise ships. Makes a lot of things easy.

Almost every nice afternoon, my copilot and I explore back roads.

[Jim Richards]

We spent 3 weeks in NZ back in Nov/Dec and loved it.

My wife has happy feet so travel is something we'll try to do a lot of as long as we're physically up to it.

[stevej37]

Originally Posted by look 171

but how much money are your folks spending? A new car every few years? You are no longer driving to work daily, so fuel cost goes way down. Lets say home is paid off, and kids are outta of college, so what else? Travel? Food is about the same every where.

The biggest factor is the free time that one has when retiring. My fuel costs are way more since retiring (4 yrs back). Travel expense is way up...and food expense is also.
With the beer/alcohol tab..my spending is way more than when I worked.
But that is what I planned/saved for...and it's great!!

[Baz]

If you are in the trades...it would be a reality check to stop working all together - strictly from the standpoint of making some extra coin.

I love doing jobs and getting paid.

Guess I love making money - more than spending it.

But it's nice to have the money when you want something.

The hamster wheel never goes away....it just gets a little smaller...heh heh heh....

[Craig T]

Originally Posted by Baz

If you are in the trades...it would be a reality check to stop working all together - strictly from the standpoint of making some extra coin.

I love doing jobs and getting paid.

Guess I love making money - more than spending it.

But it's nice to have the money when you want something.

The hamster wheel never goes away....it just gets a little smaller...heh heh heh....

Baz, your philosophy only applies because you love what you do. Who wouldn't? You work outside making people's yards and businesses beautiful. You take the jobs you want, and I'm sure avoid the jobs you don't. I wish I had a trade.

It's different for me. I have to make major sacrifices in retirement because I will have no opportunity for income (unless I get a job as a greater at Wal-Mart). I HATED what I did and retired early for sanity. When I got paid people lost jobs. I couldn't do it anymore. I wanted to give my last paycheck back.

To take up free time, I started volunteering for JDRF. It feels great.

[Grimm]

Originally Posted by look 171

Sure, CA's (big cities) standard living is higher then most in the nation

Standard of living higher? I'm confused over that. Did you mean 'cost of living'?