Advice and Discussion For Seniors Living On Fixed Income And Cabin Life

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Author	Message
Tim_Ohio Member	# Posted: 26 Oct 2021 08:57 Reply Hello everyone. I'm 57 years old now and I've been blessed with a pretty decent life (except for a few pitfalls here and there...like everyone, I suppose). Anyway, I started my cabin last year, shortly after turning 56. I'm still working on the inside. It's small, as you might know from my posts, but cozy and very functional. Anyway, I'm still working and retirement is not far down the road. So, to get to the point, I'm wondering if any of you knows of a discussion forum for seniors that you like. I'd like to become involved in one to learn more about how to save money and reduce costs in various ways, once I'm on a fixed income. Thanks in advance. Tim_Ohio

paulz Member	# Posted: 26 Oct 2021 10:35 - Edited by: paulz Reply Don't know of any Tim, I always ask my senior related questions here. Seriously the abilities and resourcefulness of those here exceeds most of the folks I know in the general public. Having those skills generally saves you money. One thing I do is watch how much income I pull out of retirement to keep my taxes from jumping up a bracket.

FishHog Member	# Posted: 26 Oct 2021 12:04 Reply Iâ€™m not that senior yet but am retired. When working itâ€™s easy to spend money on stuff you think you need and I did for a lot of years Now that I donâ€™t have an income I give serious thought to if I need something or just want it. And I donâ€™t let myself impulse buy anymore. Give everything a few days of thought. If I determine I do need it, Iâ€™ll look at used options first as a lot of money can be saved there I donâ€™t feel like Iâ€™m missing out on much and not working sure adds more to my life than stuff I donâ€™t think there is any magical tricks. Just be conscious of what you spend your money on and prioritize those things as needed

gcrank1 Member	# Posted: 26 Oct 2021 12:16 - Edited by: gcrank1 Reply Imo, it is going to be tough in the coming months and years with the continuing fiscal irresponsibility and inflation thus currency devaluation that has happened; aint slowing and will only get worse. Many are buying stuff now before the price goes up tomorrow..... I have some things in mind. At any point in time my so far successful (Im 68, officially retired at 62) money management is simple math; money in over time needs to be more than money out; ie the 'account' needs to be generally growing. I cant abide a leaky bucket (constantly dimminishing account). So, critically examine ALL your lifestyle choices and expenditures Now. If you need to make changes you may have some time to incorporate such in your life.

Steve_S Member	# Posted: 26 Oct 2021 12:54 Reply I've not seen a discussion forum on it but never really looked either. My own case is odd but not too weird. Life & it's cross roads, sometimes its a bitch ! I live on a small disability pension (pathetic actually) and cash is tight, so everything needs a plan and costing and has to be worked out. Being unable to afford a RENTAL in any Urban Containment Zone and being a "Country Boy" the best place was back where I belong & wanted to be. Bought Land, Built a Super-Efficient small home (self designed and built) and installed a Solar System to run everything. Without Hostage fees to "Utilities" the cost of living dropped significantly ! Hell I can actually afford things again (with caution, as there is no credit, no loans and no fluff). One BIG SAVER ! I of course built an appropriate Pantry in my shack. I keep that well stocked with essential Dry Goods such as rice, pasta's and various dried veggies, soup mixes etc, all of which are bought Bulk at the local Bulk Barn store and then packed into airtight containers. It is AMAZING how much that can save and it's good to have in case. A small Greenhouse can also provide a lot of healthy food and if properly designed, can be a year round producer as well. The Wallapini style GreenHouse works a treat in this regard with a bit of planned forethought. I actually got into having a Food Storage & Stocked pantry later in life thanks to my Ex Wife's family, (Mormons) motivating it. But it is something I gew up with as we always had a well stocked Pantry, Food Storage & Cold Cellar on the farm. As a kid I helped with loading unloading the Smoke House amongst all the other "chores" related to pickling & preserving.

KelVarnsen Member	# Posted: 26 Oct 2021 14:31 - Edited by: KelVarnsen Reply Quoting: Tim_Ohio I'm wondering if any of you knows of a discussion forum for seniors that you like. I'd like to become involved in one to learn more about how to save money and reduce costs in various ways, once I'm on a fixed income. I've always enjoyed Reddit. There are a number of subreddits that are good for financial matters, not necessarily senior related. /r/personalfinance /r/fire (Financial Independence/Retire Early) /r/budget /r/financialplanning

frankpaige Member	# Posted: 26 Oct 2021 14:49 Reply Tim-Ohio, After you turn in your keys and get that gold watch. Is there any opportunity, or desire, to supplement your income? Not sure what your training is? We can cut expenses just so far. Once that cabin is finished, well finished is relative as we all know. Expenses should be pretty steady. If you can come up with a side job? Maybe have a little extra there. Best wishes, Hope it goes well and uneventful

Tim_Ohio Member	# Posted: 26 Oct 2021 15:25 Reply First, thanks to all of you for posting. Second, please don't get the wrong idea. I feel financially sound to retire. Lastly, I'm motivated to read about the ways others are keeping busy, active and out of trouble with all of that time on their hands without breaking the bank. It's possible, as you know, to live another 30-35 years. Inflation is a little bit of a scary thing too. I'm a garage sale kind of guy and love to do projects on the cheap whenever possible. So, I'm no stranger to that sort of thing. Health, well you never know about that. I run a few times a week and stay fit. So, that sort of thing isn't a big concern. It would be nice to just have something to read into. I like the Reddit idea. I explored it a little, but not much. Who really didn't have a look at it when AMC was a big story, chuckle. Thanks a bunch. Tim

KelVarnsen Member	# Posted: 26 Oct 2021 18:36 - Edited by: KelVarnsen Reply Not too plug Reddit too much but there are some other subreddits that might be of interest to this forum. Of course, this forum and you guys are far superior. /r/offgridcabins /r/offgrid /r/cabins /r/homestead /r/tinyhouses /r/frugal /r/cabinporn

ICC Member	# Posted: 26 Oct 2021 19:36 Reply The biggest challenge for many retirees is what to do with the time once spent working at whatever it was they retired from. Not enough planning is done about that by many. Not directly connected to the OP question, but relevant, is what are one's plans for all the "stuff" that one has accumulated over a lifetime. I have been on the receiving end of the cleaning up of things stored in closets, attics, basements, sheds, and barns left behind by parents, siblings, in-laws, and friends. It seems at times that some people have thought they were immortal with all the stuff they left piled up. Much of it was of no interest to anyone else and was just a lot of work for those left behind to sort through it. I started doing my personal de-cluttering a decade ago when it was decided to sell the old rambling ranch house. That took a year of part time work. It was an extended family decision as the ranch house went back many generations, but everyone was on board. In Sweden this is called "dÃ¶stÃ¤dning" which literally translates to "death cleaning". I recommend the activity as personally satisfying as well as a kindness for those you leave behind. Mom always said that we should always clean up after ourselves, when we were kids. This is simply an extension.

Steve_S Member	# Posted: 27 Oct 2021 06:13 Reply Quoting: ICC In Sweden this is called "dÃ¶stÃ¤dning" which literally translates to "death cleaning". I recommend the activity as personally satisfying as well as a kindness for those you leave behind. Ahhh "The LIFE Enema" ! It is a hard thing to get started doing but once you get going it gets easier... All that "Inherited & Passed Down" stuff becomes quite a burden but that's what Yard Sales are for. BTW: While it was kinda hard to sift through "some of it" but after dumping it, it felt Great ! I was really quite surprised at that to be honest, didn't expect it. I severely Downsized when I moved into my current place and now as projects and things are finalized and I step into coast mode for the next year or so, the final dumping will be in the spring when all extras are disposed of. I have no one to leave any to (lucky them) and the few things of value can go to a specific set of folks. I had hoped one of my kids would step up to take over my place (and inherit the tools & equipment that go with it which is a lot of $tuff) but NOPE that won't happen.

ICC Member	# Posted: 27 Oct 2021 09:09 Reply Quoting: Steve_S after dumping it, it felt Great ! I was really quite surprised at that to be honest, didn't expect it. Right! That was a surprise and a big bonus for me. It is very difficult to get going especially when there is a part of you that is saying, "I might use that someday". However when I had an honest look and recognized that I had been hanging on to some stuff for 20+ years and never used it.. In many cases, I had forgotten I had the thing(s). So I became very selective; sold some things, gave some away and recycled materials, etc. Some materials I did keep but I built suitable storage racks and can see what I have. I have limited the space to be used. March of 2020 when we hunkered down for Covid a couple of relatives followed suit and also reported good feelings afterwards. One person though just can't get moving. So, not everyone finds joy easily. Worth giving it a chance, IMO.

Alaskajohn Member	# Posted: 27 Oct 2021 10:07 Reply I was about your age when I purchased and subsequently moved to an old, run down Alaskan homestead that I knew would take some money to resurrect. The costly work is behind me, hopefully. Now itâ€™s about improving sustainability and productivity while reducing overhead. Iâ€™ve cut cost I donâ€™t need such as paying to watch TV and other such items you simply donâ€™t need. Iâ€™ve cut electrical and heating cost significantly through better insulation, burning firewood as a prime source of heating and cooking, etc. The food we grow and earnestly focusing on a subsistence lifestyle to put meat on the table has significantly reduced cost. Iâ€™ve also learned to fix things that I once thought was above my skill set. There is a lot you can do to keep expenses down when you put your mind to it.

snobdds Member	# Posted: 27 Oct 2021 11:41 Reply I'm not even close to retirement, but my parents are just entering it. My mom loves to watch my dog during the day while I'm at the office. She also paints and does crafty type stuff, she seems content in retirement. My dad on the other hand, is restless AF. He owned a large construction company for years, he dosen't know what to do with himself. It's hard to keep him in enough single person projects to occupy his days. His biggest project for the winter was doing the body work and painting his 1991 Toyota truck. It's October and he's already done and will be painting it this week. It's going to be a long winter. . He still has old clients calling him for work, and he is taking some of the smaller jobs that he can do himself, but his days of managing employees are done. If todays employees were not so mentally demanding and draining, I bet he would work until he couldn't physically do it anymore.

bushbunkie Member	# Posted: 27 Oct 2021 18:21 Reply I just retired at 60 in Feb. 2021 and I think the advice here is great and a lot of common sense. My cabin isn't finished yet so I took a part time job (14 hours a week whenever I want) to keep me busy and keep up my "cabin-fund" so it never impacts my monthly pension budget or "emergency fund". Which is proving to be super helpful as we just decided to finally run hydro to the place at $10,000... not cheap, but will just continue to get more expensive here in Ontario if we don't do it now. I personally wasn't thrilled about it, but my wife has a disability and needs the comforts of home at the cabin...you do what yah gotta do for love! Now I'm also finding that I'm busier then I ever was because I do things with purpose and don't feel the need to rush everything into a 48 hour weekend like my working days.

gcrank1 Member	# Posted: 27 Oct 2021 21:38 Reply Busy? Yeah That! Sure dont have time to work a job

KelVarnsen Member	# Posted: 28 Oct 2021 07:45 Reply This is a great thread. It sounds like I am in good company with my thinking and the direction that I'm heading. I bought my cabin 6 years ago and it's been a complete rebuild. I have about 3 more solid years of heavy projects to get it where I want. I'm in my early 50s and still working. I work in Information Services. It's getting harder by the day to keep up with the changing technology. Hopefully, I'll be able to retire in 4 to 5 years. I want to get all the expensive and hard cabin work done by the time I retire so that I can take a huge breath and just enjoy. I'm working hard, but not hard enough, on decluttering and downsizing. The problem with the cabin life, when it isn't your full time home, is that you have 2 places to maintain. It seems to take twice as much stuff. I've been frugal and hardworking my whole adult life and I've been saving for retirement since I was 18. I've accumulated a pretty good nest egg. However, I have a number of people that rely on me and I worry about job prospects for my kids. The financial system seems pretty fragile and I worry about inflation. Mentally, I'm exhausted and ready to retire right now but feel that a few more years in the rat race is warranted. I don't really worry about how I'm going to spend my time. I have always tried hard to stay fit so that I can be as healthy as possible in order to lead an active lifestyle and to be able to do the hard work of owning a cabin. I have a lot of interests and love to putter on projects. My buddy FishHog has been showing me how to live a fulfulling retirement. I look forward to joining him in due time.

Steve_S Member	# Posted: 28 Oct 2021 12:26 Reply An FYI for Fellow Canadians. CRA is now Out-N-About (you know how to say it) hunting down everyone that applied & received CERB while on any form of assistance... being Social Assistance, Disabilities and several Old Age Pensions and more. Seems they took the applications and paid out to folks who did not qualify. Now they come to realize this and so they are looking at everyone and guess what, a LOT of folks applied, got it and they are holding the Repayment Bag of troubles... I guess my RADAR was @ 100% because I had thought about applying as I am a really crappy tiny disability and I even asked the folks administering it and they said I qualified, turns out I did not and would have been stuck with a $15,000+ debt to Revenuers. Hafta admit, I had this sickly feeling in the back of my head about it when I was asking and it's a good thing I listened to it. Some examples: https://www.cbc.ca/news/canada/ottawa/cerb-gis-seniors-ottawa-1.6226150 https://nationalpost.com/news/politics/cra-received-double-the-usual-number-of-tips-t o-its-snitch-line-in-first-year-of-covid-19-mostly-due-to-cerb *We are from the Government and here to Help !* Hahaha not in 2021 That's for sure...