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Old 05-12-2017, 03:51 PM
 
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Quote:
I doubt you could even survive on that amount of money
That's 3K a month. Of course a single person can retire on that. If you can't you're doin it Rong. Should have gotten a 15 yr mortgage in your 30s or 40s. That's the trick.
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Old 05-15-2017, 08:18 PM
 
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At 29, you should focus on advancing your career, not how much minimum you need for retirement.
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Old 05-16-2017, 01:26 AM
 
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Originally Posted by hawaiishrimp View Post
At 29, you should focus on advancing your career, not how much minimum you need for retirement.
I don't necessarily agree. It depends on what people want to do in retirement. If it's to engage in leisure 100% of the time, then I agree. But the world's most important work goes unpaid.
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Old 05-16-2017, 01:29 AM
 
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Originally Posted by mizzourah2006 View Post
You can't survive on $36k/yr for one person? If we didn't have a mortgage or daycare to pay for we would have spent about $13.8k/ through 4 months this year or a pace of just north of $41k for a family of 3. This includes a $2k bedroom set for our master as well. It would be very easy to 'survive' off of $36k for one person if you had a paid for home in all but the most expensive areas of the US. You might not be living a life of luxury, but you wouldn't be on the corner begging for change either.
Agreed.

I spend less than 36K per year in the high cost SF Bay Area. I don't get how people can spend so much. Granted, without employer subsidized health insurance it might be a different story, but I still think I'd be under 36K. It would certainly be fine for a single person outside the high cost metro areas.
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Old 05-16-2017, 11:42 AM
 
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When we see retirement, the assumption is a person eligible for Medicare.
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Old 05-16-2017, 12:29 PM
 
Location: Forests of Maine
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Originally Posted by creeksitter View Post
When we see retirement, the assumption is a person eligible for Medicare.
My 'retirement' is only possible because the US Navy provides healthcare to me [and my family].

Otherwise $1480/month pension would never be enough to retire on.



But since I do have fantastic health care provided, and I stay far away from military bases [I lose this if I settle near a military base]. We do pretty well.
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Old 05-17-2017, 04:35 PM
 
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Originally Posted by tigergirl87 View Post
...I really do not want to work until the age of 65 and hopefully I get a higher paying job where I can retire sooner than that, but I am wondering if a yearly pension of 36,000 which is roughly over 3k a month for someone who lives relatively frugal to retire on. ..
snip from original post.

Absolutely. I think it's quite possible, even easy,given a couple of things.

. You own your house.
. You live in a reasonably cheap area (you could always buy the cheap house when you retire to the cheap area).
. Health insurance doesn't cost $2k a month

This last one is the gotcha.

If the laws evolve as I imagine, you could make the argument for going commando on health insurance (ie. don't buy it). If something bad happens, declare bankruptcy. Live in a state with a good homestead exemption, bury money in coffee cans just in case.

You do what you have to do, and the world is filled with highly efficient monetary predators.
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Old 05-17-2017, 04:37 PM
 
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Originally Posted by mysticaltyger View Post
I don't necessarily agree. It depends on what people want to do in retirement. If it's to engage in leisure 100% of the time, then I agree. But the world's most important work goes unpaid.
I agree with that. Looking back, I should have spent more time picking up hand skills, musicanship, etc. and less honing technical skills.
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Old 05-19-2017, 04:27 PM
 
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"Is it possible to retire on 36k? (best, old, money)"

Here's a charming man who lives on $500 a month.


https://www.youtube.com/watch?v=UjTGF4jPdCY
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