Reply to How much do people have saved for retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I have lots of friends that have retired.  I am getting close.  The middle class friends have seen their expenses drop assuming house paid for.  Interestingly my UMC friends (sample of 3) all have had expenses stay the same or even increase -- also with house paid off.  Why?  They say spending more on travel than planned (1) Regularly visiting kids who do not live in this area, and (2) taking more vacation type trips.  Also they say they spend a lot on kids when visiting.  Not for everyone but that is their experience.[/quote]

Yes.  We are pretty UMC, but with MC parents.  They are planning on retiring soonish, and as far as I can tell, mostly will rely on social security.  They have some other savings and a paid off house, but I can't imagine they have anywhere near $1M.  They told me "you know, we won't be able to visit as often when we are retired" because their budget will be more limited.  But like, they stay with me when they visit, so it really is just plane tickets, so I was pretty surprised their retirement budget doesn't include enough for that.  It seems pretty odd to me, but I think they are just pretty ready to retire.  We can't increase our visits to them significantly either, because we still only have so much vacation time. [/quote]

Wouldn't you just buy the tickets for your parents so that they could come visit you?  My parents would certainly do that for me if I didn't have the money, and in fact try to do that all the time even though I probably have more money than them.  It would be a no brainer that I would that for them so that I could see them as often as we all wanted -- and to make sure they saw the grandkids.  [/quote]

Sure, inevitably, that is what will happen.  Which is fine by me.  It  it will introduce some minor new family dynamics to manage since in laws won't accept "free" tickets and i have a sibling that couldn't  do the same for my parents, but whatever, it is nothing insurmountable in the grand scheme of things.

But to the point of the thread, either save for modest travel in retirement or plan on having your kids pay for your plane tickets to see them. [/quote]

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