Thinking about retirement?

[JayGilb]

I lost my job of 21 years in post production last December. I was hoping for another 5 years or so just to build up a bit more of a cushion, but it wasn’t to be.

I initially considered doing some freelance work, but the further away I got from it, the more I realized I wanted nothing to do with it anymore. The house is paid off, the cars are paid off, no debt and plenty of savings.

SO happy to be away from the grind. I now spend time with my hobbies, my community, my wife, my pets. Love it!

57 years old and happier than ever.

Good for you. We live in a world where we work for decades just to retire when our bodies are doing the same. Our technology is advancing so rapidly that we are unable to maintain equivalent sociological progress.

 

[JeffS7444]

I wonder: Had I not been forced out of my job by company merger, followed almost immediately by the pandemic, very possible that I'd have kept at it indefinitely: It was a grind, but it was my grind. And by remaining busy, I could avoid having to think about the future. I blame society for not providing better role models for life outside of school and work . Gotta admit that even now, I sometimes feel guilty when I'm wandering about town in search of a croissant on a Monday morning, while everyone else seems to be scurrying about with apparent purpose, and deadlines to be met.

 

[JayGilb]

I blame society for not providing better role models for life outside of school and work

So grossly overpaid sports stars, sociopathic ceos and billionaires not good enough ?

 

[Mart68]

I blame society for not providing better role models for life outside of school and work

We have 'The Dude.'

 

[Mart68]

Or 'El Duderino' - if you're not into the whole brevity thing.

 

[JeffS7444]

So grossly overpaid sports stars, sociopathic ceos and billionaires not good enough ?

Why couldn't I have been a teenaged Lambo-boy influencer?

 

[sceptical1]

Take heed of physical limitations. The sooner you realize health and exercise mean everything to your enjoyment of retirement those next 30 years will be a joy or a burden, every single day.

 

[Ralph_Cramden]

This old guy seems to have figured it out

 

[WideEyedToad]

Yes, but not in the United States, retiring here is a joke.

I was born here, but my wife was not.
We plan to save a ton of money and move to her country (peru), and live like king and queen. That or Russia haha.

 

[Soandso]

… not in the United States, retiring … (peru)

Since I worked in the Peruvian highlands over 50 years ago I'll add some retiree comments here. When Sendero Luminoso ('shining path") insurrection began I left and Peru's capitol Lima back then didn't appeal to me.

I am retired.

The issue of retiring outside of the USA, Canada, UK, Europe and Australia has the main financial incentive that rents are going to be significantly lower. The food items that you grew to cherish may be significantly more expensive, although home prepared meals with local items should be on average cheaper.

Now when you are retired and in time become geriatric an additional financial consideration is medical care. Geriatric citizens of the aforementioned high rent countries often are afforded medical insurance coverage there which would be expensive to replicate elsewhere. In many countries non-national retirees initial residency permission is predicated on them maintaining medical insurance at their own expense (being a legal spouse of a national is something with more country by country nuances than I am discussing).

 

[JeffS7444]

Question for no one in particular: How much $$ would you need to feel comfortable about retiring in the USA, or anywhere else for that matter?

 

[Pr0phet0ffD00m]

"A movement taking shape’: Many US retirees are looking to move abroad. Here are the best countries for them"
Posted today >> https://www.cnn.com/2025/08/22/travel/best-countries-us-retirees-moving-abroad

The medical insurance requirements for visas is insane (but understandable for leeches on the system); another proof that the global system has already been gamed. If you ask NZers, Aussies, Brits, and SAers, they'll all complain about their own country. Every place has its own problems, first world is no exception. The fact is, besides the recent explosion in real estate prices, the US is still bigger and better than most first world nations. I'd avoid Malaysia and any countries in Asia if you don't already speak the native tongue. Not only does that make daily life in general a bit harder, it also makes you prone to scams(and yes, they exist even in Singapore or Japan). Socially you'll be stuck in those "expat circles" even if you learn the language. Also, the housing bubbles started in Asian metros 15 years ago, so don't expect the "same level lifestyle but cheaper". You're paying more for other things. Most Americans I know always go back to America. Why? Many reasons: it's huge (meaning more options), buying stuff is cheaper relatively (it's the world's consumer), you have access to every food ingredient you want, it's the most free, and it's got a great checks and balance system (I'm comparing to non first-world nations). That and y'all have the cleanest air and climates of all types: you cannot buy clean air or change the climate. I'd consider moving to other states first before to Mexico or EU.

 

[WideEyedToad]

Since I worked in the Peruvian highlands over 50 years ago I'll add some retiree comments here. When Sendero Luminoso ('shining path") insurrection began I left and Peru's capitol Lima back then didn't appeal to me.

I am retired.

The issue of retiring outside of the USA, Canada, UK, Europe and Australia has the main financial incentive that rents are going to be significantly lower. The food items that you grew to cherish may be significantly more expensive, although home prepared meals with local items should be on average cheaper.

Now when you are retired and in time become geriatric an additional financial consideration is medical care. Geriatric citizens of the aforementioned high rent countries often are afforded medical insurance coverage there which would be expensive to replicate elsewhere. In many countries non-national retirees initial residency permission is predicated on them maintaining medical insurance at their own expense (being a legal spouse of a national is something with more country by country nuances than I am discussing).

Luckily for me, my wife is a neurosurgeon in Peru! Or was, but she could always call a friend for a job again.
Funny you mention medical, as I have had a heart transplant.

 

[Soandso]

How much $$ would you need to feel comfortable about retiring in the USA, or anywhere else for that matter?

The graphic below is from 2020 data. I think it's premise is for retiring at age 65 and then how much money in terms of U.S. dollars you'll need to spend if live "comfortably" another 15 years.

 

[Mart68]

Question for no one in particular: How much $$ would you need to feel comfortable about retiring in the USA, or anywhere else for that matter?

I'm retired (UK) on a budget of about $13k per year. I own the house so no rent to pay and no plan to do much in retirement except take it easy and potter about.

It's just about enough. To be totally comfortable I'd want at least $20K pa.

 

[Soandso]

… have had a heart transplant.

[Pardon my format here.]

 

[Sal1950]

My late M-I-L lived in Guad for 28 years. Was very close to a family there and we still are. I went to many parts of the country and even went birding with a cousin of theirs way out in the sticks. I would not consider even visiting Mexico anymore.

The stories of Americans moving to France and Spain without learning the language are myriad, and they wonder why it's "hard".

Have some freaking respect for where you're moving.

We're visiting France in just over a week and we've been taking private French lessons since last October. Not doing great, but we're making progress. Going to do our best to be "good" visitors.

They think they'll get by with their phone translation apps.
I don't see it working too well for American/Spanish here. But what do I know. LOL

 

[Sal1950]

happily for me, she chose a city guy

Must have been your staggering good looks Kal. LOL

 

[Chris A]

The graphic below is from 2020 data.

The updated data for 2025 can be found here. All of these figures are set up assuming you are a US citizen.

You'll need 23% more to retire now in the US (ave.) than the 2020 figures show. That's a really large increase due entirely to inflation.

And all those figures are likely to become eclipsed by the effects of present tariffs going into effect that will affect food, clothing, and hi-fi audio hardware and software costs from abroad.

Also note:

Since [the] data is fully user-generated, it’s skewed towards capitals and big cities, which might account for the cost-of-living estimates in certain countries appearing inflated. Note that [the] cost estimator doesn’t include insurance, health-related expenses and doesn’t account for income tax in different countries.

I think it's safe to say that the current rule of thumb is about $1M USD (single person) to retire in the US, and 40%-70% more for a spouse--to retire comfortably and live to ~80 yo.

And most people that live to 65 (ave, retirement age in the US) have a life expectancy that's significantly higher than 80 yo--the last time I looked. I think it's wise to plan on waiting until age 70 to start Social Security benefits in the US, which takes a 76% increase at that start-of-benefits age (assuming you think SS will be there for you when you retire).

I'd plan on $1M USD/person in 2025 USD (assuming you have full medical benefits in retirement) to be prudent.

Pensions and SS are a pretty big deal--when you look at the time-value of money and taxes spread out (not considered in the above).

Chris

 

[Kal Rubinson]

And all those figures are likely to become eclipsed by the effects of present tariffs going into effect that will affect food, clothing, and hi-fi audio hardware and software costs from abroad.

The ticking clock.