Put your name on lists NOW for city-owned senior living facilities. The waiting list is a few years long, but it will get you in a subsidized spot.

My uncle moved into one recently in Southern California - it's wonderful. It costs him around $500/month, which is significantly cheaper than the rent he was paying prior to getting off the waiting list.

He had a spotty work history due to a debilitating illness that kept him on Medicaid. He was forever stuck in that loop of Medicaid giving him his medication, but couldn't make more money otherwise he'd lose his meds and doctors. It was horrible. So the fact that you have a $30K state pension is already good!

Blue states have some wonderful resources for seniors. I think you would qualify for a spot in an income-restricted senior building. Nicer towns have nicer buildings with better clientel.

Anonymous wrote:There's no way that's enough.

My dad had bypass surgery, and the bill was $245k. The portion his insurance and Medicare didn't cover is still $41k.

And they have a paid-off home and very, very good old school pensions.

For many it would only take one major medical event to wipe them out financially. Whole nest egg gone. Then you’re that guy at the street intersection with “please help” on a piece of cardboard.

Anonymous wrote:I earn about $475K passively in retirement and I still don't think it's enough. I have expensive hobbies, tastes, and needs. What is a person to do?

Apparently not learn when to keep their mouth shut...

Anonymous wrote:

Anonymous wrote:That doesn't leave any room for emergencies or say, attending a wedding in Italy one year, or going on a cruise with extended family. It would be surviving, but not thriving.

So tone deaf. Read the room.

Umm, $60K in the DCUM area (so $45K after taxes) and not owning a place (so having to rent and be at the mercy of increasing rents) yes that is not really enough to be "thriving". What happens when you are still getting only $45K after taxes but now rent is $2300/month What do you do?
Much better to have a viable plan in place BEFORE you retire (that can include moving to a lower cost of living area)

OP, you need to retire to a place you can afford. The DMV is not it.

Anonymous wrote:

Anonymous wrote:There's no way that's enough.

My dad had bypass surgery, and the bill was $245k. The portion his insurance and Medicare didn't cover is still $41k.

And they have a paid-off home and very, very good old school pensions.

This is scary. We are all.in trouble.

Makes no sense. There are out of pocket maximums.

Anonymous wrote:There's no way that's enough.

My dad had bypass surgery, and the bill was $245k. The portion his insurance and Medicare didn't cover is still $41k.

And they have a paid-off home and very, very good old school pensions.

This is scary. We are all.in trouble.

Plenty live on less. If possible, I’d move to LCOL area. My in-laws live in Upstate where a nice small house is 60k to own and rents are even cheaper. Midwest is also a great option.

Anonymous wrote:I earn about $475K passively in retirement and I still don't think it's enough. I have expensive hobbies, tastes, and needs. What is a person to do?

GTFO. You are a terrible human.

Anonymous wrote:That doesn't leave any room for emergencies or say, attending a wedding in Italy one year, or going on a cruise with extended family. It would be surviving, but not thriving.

Those are extravagances! Seriously. Inability to afford those is not barely getting by.

There's no way that's enough.

My dad had bypass surgery, and the bill was $245k. The portion his insurance and Medicare didn't cover is still $41k.

And they have a paid-off home and very, very good old school pensions.

I earn about $475K passively in retirement and I still don't think it's enough. I have expensive hobbies, tastes, and needs. What is a person to do?

Anonymous wrote:That doesn't leave any room for emergencies or say, attending a wedding in Italy one year, or going on a cruise with extended family. It would be surviving, but not thriving.

So tone deaf. Read the room.

Anonymous wrote:

My divorce a few years ago really derailed my retirement plan, but such is life.

What about your ex spouse? Any pension there?

OP, that's enough to retire comfortably on, but only if you have a paid-off house or condo.

You cannot assume your health will continue and allow you to keep working til you are 70.

So I would start thinking creatively about how you can save up enough to buy some place to live - and make sure it is somewhere you can age in place.