Retire Early Lifestyle
Retirement; like your parents, but way cooler

In 1991 Billy and Akaisha Kaderli retired at the age of 38. Now, into their 4th decade of this financially independent lifestyle, they invite you to take advantage of their wisdom and experience.

Q and A with a Reader

Managing Housing in the NE United States

Hello

I finally retired, and yes jitters fears are abounded. I am new at it retired May 5th and elected at 63 to take SSA. We (wife and I) own no home (rent in Massachusetts is high) We are debt free :). Yes, we will need to adjust our budget slightly with stopping work. We want to hold off accessing the 401Ks, etc. Our biggest hurdle is housing. I believe we will stay close to the grandkids as my wife helps with childcare. If I could convince the entire family to pack, it up and move to Central American boom on plane gone. Unsure be central America I really do not do well in humidity.   

Any wise sage advice on housing in northeast? utilities, food cars those amounts are pretty much consistent. We will decrease eating out, non-thinking in buying stuff for grandkids, so we can hopefully do more travel. I am sure once we get into a realm, we will be fine. Right now, it is the jitters to being on a fixed budget and for me not working in a job that wasn't a job.  

Hope all is well with you guys

Jonathan

Hi Jonathan,

Congratulation on your retirement. You can relax. I am sure that because you are debt free that you have done an excellent job with your finances.

As you know, housing is the highest category of spending in anyone's budget. Manage the cost of your housing and you can live almost anywhere in the world.

That being said, you didn't specifically mention where in Massachusetts you live. Some places are cheaper than others, and smaller towns outside of bigger cities often offer more affordable housing.

Also,... if your wife wants to do childcare for grandchildren... is that daily while the daughter works? is it on weekends while the parents get caught up or go on date nights or short vacations? Is it occasionally? or constantly?

The reason I ask is because if it is daily, then your housing must be fairly close to the grandchildren. If it is occasionally, then you could move to a neighboring town that has less expensive housing available.

You could utilize co-op housing, rent a tiny home or smaller home on someone's property, try co-living, or NOAH units. Maybe even leverage federal programs that are being offered.

You can always downsize your living space and that would downsize your rent, or reduce your need for two cars (if you own vehicles) thereby saving on insurance, maintenance, parking, fuel, etc. 

It seems that this conundrum needs the cooperation of the whole family - the daughter/parents of the children as well as the grandmother - considering needs on both sides and the availability of housing that you can afford.

Of course, there is the possibility of taking on a part-time job to ameliorate expenses.

There is an answer for all of you. You might need to rearrange the options available to find something suitable for your needs.

Good luck and do keep in touch!

Best,

Akaisha and Billy

Retire Early Lifestyle appeals to a different kind of person – the person who prizes their independence, values their time, and who doesn’t want to mindlessly follow the crowd.

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