Quote:
Originally Posted by pjohns
It truly does seem odd to me that so many people appear to assume that retirement automatically means less income. (The widow living on nothing but a Social Security check--and with "more month than money," as the old saying goes--is the prototype for this.)
I retired over 15 years ago; and I am currently far better off, financially, than I ever was previously.
Of course, my particular case should not be viewed as emblematic of everyone else.
But neither should that widow, living on "nothing but a Social Security check," be seen as typical of all.
Comments?
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I see retirement more as requiring less income. Once I retire I will no longer be paying 6.2% of my income to social security, I will no longer be setting aside 20%+ of my income towards retirement savings. There you have it, I've already reduced my cost of living by 26% when I retire.
You mention widows....
My mom is a widow, my father died 2 years ago. Mom is living off social security plus his $200/month pension and she is doing fine. She lives in the Monterey Bay area of CA which is an extremely high cost of living area.