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Old 05-02-2020, 02:48 PM
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Default Re: Why do so many assume that retirement means settling for less income?

Quote:
Originally Posted by pjohns View Post
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?
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.
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