Aloha Everyone,
Most economists recommend keeping your housing costs which includes mortgage or rent, property taxes, homeowners insurance, maintenance to no more than 30% to 40% of your budget.
Here are steps J.J. and I took 4 years ago:
1). Housing - we sold our home in Hawaii and purchased Honu. By making this drastic move, we reduced our housing expenses. Buying in cash means no mortgage.
2) Transportation - instead of owning a house and car, we combined both.
3) Food - prices we pay for groceries or restaurants are lower in many parts of the USA and some overseas cities where we do long stay. We make no compromise on quality.
4). Taxes - our home state is South Dakota. We pay Federal taxes but no state income tax.
5). Healthcare - our primary health insurance is Medicare, Medicare A plus supplementary private health insurance.
The two of us practice dental and vision tourism. Prices overseas are lower. Our primary care physician is in Saint George, Utah.
Our mantras in retirement is to live simply and with gratitude. Everyday, the two of us are grateful for each other, for our family, relatives and friends. We live and embrace life of the moment.
Simplicity is the ultimate sophistication.
-Leonardo da Vinci
He is richest who is content with the least, for content is the wealth of nature.
-Socrates
Simplicity is the glory of expression.
-Walt Whitman
Aloha -- Cathi
