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| The La La Simple Shawl in rose is almost finished |
I have been hearing recently from dancer friends who are in dire straights in their old age. It is sad and unfortunate. The older we get, the faster time passes. It's so important that we plan for our "golden years" and have our ducks in a row. Professional dancers are particularly vulnerable in retirement if they don't have adequate income, savings, investments, and real estate. Many don't realize that our joints give out after a certain amount of time. Surgery and medical bills can send people into a financial tailspin. Living in an expensive city can also cause stress and worry.
Where you live has a huge effect on how much money you are able to save. I bought the smallest house on my California street, in a working class neighborhood. I canvassed the immediate area, keeping a log of the asking prices of homes, what they sold for, and how long they were on the market. When I found mine, I had a good idea what it should cost. I bought it in 1998 for $89.500, without an agent. That was one of the best financial decisions that I have ever made. My neighbor just sold her little house for $400,000. It's a two bedroom, but mine has more land. She waited a year for the right buyer to meet her asking price. I plan to stay in mine, because I feel it is the perfect retirement home. It's small, comfortable, one story, and close to public transportation.
I started "practicing for retirement" a few years ago. I stick to a budget for the year. I save the flyers and buy the groceries that are on sale. This week that will be pineapples for $2.00, 10 lbs. of potatoes for $1.78, turkey for .35 a lb, navel oranges for .50 a lb, and gelato that is buy one, get one free. Sugar is also on sale very cheaply at our local Mexican market. I make my coffee and tea and home, and I don't eat out at restaurants. I save that money for travel. I also don't have t.v. I use a Jitterbug flip phone. It's $35.00 a month.
Taking the bus and riding my bicycle has helped me to reduce wear and tear on my car, lower my car insurance premiums, and to save money on gasoline. I also combine errands when I drive my car across town once a week. I like to use the car for scenic day trips and to visit my dad. By limiting how often I drive to the grocery store, for errands, etc. I have the miles I need budgeted for my trips. I used to cruise around LA kind of mindlessly when I was young, needing to refill my gas tank twice a week. Now I fill it up once a month. That ten gallons has to last me. Working from home really helps. Are you ready for retirement? How are you preparing?
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