Mexico Connect
Forums  > Areas > Central Highlands
First page Previous page 1 2 Next page Last page  View All


Papirex


Sep 15, 2010, 5:28 PM

Post #26 of 32 (13615 views)

Shortcut

Re: [Reefhound] Shocked at GTO rental prices

Can't Post | Private Reply
   
My wife is too young to start receiving any SS benefits, however, if I predecease her, she will continue to receive my full SS benefits. I also had to voluntarily take over a 36% reduction in all three of my union pensions to guarantee that she will continue to receive the same pension amounts that I am now receiving for her lifetime in the probable event that I die before she does. No reductions will be made to the SS benefits I am now receiving upon my death.


The pension reductions were based on her longer life expectancy than mine. She is 23 years younger than I am and at the time of my retirement, an average female had an 8 year longer life expectancy than an average male did. So if everything is normal according to the averages, she may live 31 years beyond me, she will continue to receive all of my (our) retirement income for her lifetime.


I am at peace with those arrangements, I have left nothing to chance. The pension reductions were unpleasant, but I love her, and I swore to support her for the span of her life, besides, she loves me and our dogs and makes great flan.


It does seem to me that people that have not had to make any retirement plans all have a better way to do it, without really knowing how it is done.


Rex
"The supreme happiness of life is the conviction that we are loved" - Victor Hugo


Peter


Sep 15, 2010, 6:45 PM

Post #27 of 32 (13607 views)

Shortcut

Re: [Papirex] Shocked at GTO rental prices

Can't Post | Private Reply
I never did much retirement planning, just knew I had a pension plan is all I did. I retired about 10 years earlier than I had planned to. Going out at age 53 gave me a lower monthly pension than I had planned but it gave me enough to qualify for the fm2 visa I would need - that was a deciding factor in retiring when I did.

I expect once SS figures out that I'm no longer intending to work they will re-compute my SS, I paid-in max SS for a few years so they were going to be generous. By the time I decide to receive it it will be gravy, I live fairly modestly. But if they significantly the minimum financial requirement before I finish the 5-year fm2 gig then I may need to take the SS sooner than I would just to meet those quals. Then I have another savings plan I can take as a lifetime annuity anytime I decide to. Looks like I'm covered.

GTO prices may shock me too but I live in Michoacán.


(This post was edited by Peter on Sep 15, 2010, 6:48 PM)


Reefhound


Sep 15, 2010, 7:56 PM

Post #28 of 32 (13594 views)

Shortcut

Re: [Papirex] Shocked at GTO rental prices

Can't Post | Private Reply
"My wife is too young... She is 23 years younger than I am..."

That's it, no sympathy for you, lucky old man.


gpkgto

Sep 16, 2010, 2:51 PM

Post #29 of 32 (13558 views)

Shortcut

Re: [sandykayak] Shocked at GTO rental prices

Can't Post | Private Reply
From AARP:

What’s the maximum monthly Social Security benefit? For a worker retiring in 2010 at the full retirement age of 66, the highest monthly amount is $2,346. In December 2009, the average monthly Social Security benefit for a retired worker was about $1,168.


rvcycleguy

Jan 5, 2011, 9:26 AM

Post #30 of 32 (11807 views)

Shortcut

Re: [sandykayak] Shocked at GTO rental prices

Can't Post | Private Reply
My parents retired at 62 in 2001 and moved to GTO and were able to live comfortably on just their 2 SS checks. Their combined income was about 2k due to taking early retirement. They never saved a dime in their life. They never owned a home in my lifetime, they sold all their possesions regarding furniture, 4 cars to include classic 64 1/2 Mustang and 1930 Model A.

They took our young family to GTO in 1972 for the first time and fell in love with it. At some point in the mid 90's, they decided to move there to be able to afford to live out there life, not in the USA.

I visited their two bedroom home many times prior to my fathers death in 2006 in Silao while shopping. It was a very comfortable leased home, they had a small mexican Nissan, beautiful interior courtyard, help with the house cleaning once per week, satelitte TV, phone, and all utilities in their name. From what I understand, all of their household costs were less than $1200 USD per month


DavidHF

Jan 5, 2011, 2:40 PM

Post #31 of 32 (11752 views)

Shortcut

Re: [Papirex] Shocked at GTO rental prices

Can't Post | Private Reply
Papirex, your wife will not recv SS survivor benefits until she reaches age 60 unless she is caring for your children under the age of 18.


(This post was edited by DavidHF on Jan 5, 2011, 2:52 PM)


robt65

Jan 19, 2011, 9:11 PM

Post #32 of 32 (11280 views)

Shortcut

Re: [Reefhound] Shocked at GTO rental prices

Can't Post | Private Reply
I guess I get no sympathy either . . . . my beautiful, intelligent and loving wife is 32 years younger than I. plus we have an eight year old daughter (step) for me (adopted for my wife) and a 10 month old miracle infant daughter together. We also have (hopefully one more (and the last) on the way . . . . . will let you know within a couple of more months. My older mother-in-law and much older father-in-law as well as two parrots, a cat and two Labs al make up our household. I am too busy and happy for sympathy! (smiling) Life is good . . . . gracias Dios. I ask everyone to drink to my health (both mental and physical) (smiling)

robt65
First page Previous page 1 2 Next page Last page  View All
 
 
Search for (advanced search) Powered by Gossamer Forum v.1.2.4