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In your other thread I believe you asked people if they wanted to join you.
Well, before I can answer that, let me know how you did it. THEN I can answer that question.
Without specifics, can you categorically state that you've never received and do not receive any public assistance of any kind?
I don’t know anything about public assistance...just know I only get a health insurance subsidy.
Plenty of retirees get a subsidy for health insurance due to having an income under $25k (may actually be worth $700k). Are they “living off the government”? Not really.
I didn't say you were, or accuse you of, living off the government.
And since you don't want to provide specifics as to how you "retired" so young, then I'm through with this exchange.
Thanks. As always it's been...interesting, if not informative.
Southeast. I don’t really do anything special to keep expenses low.
And we dont have much of a choice with big business monopolies here.
Nothing special or extravagant about our expenses. In fact we are rather low comparatively. We might save a lot when we move south too, but for now stuck here til at least one of our fathers pass.
Cant move now, though its temping, especially as yet another nasty winter settles in.
I should also disclose that I retired at 40. Medically retired, that is. If you didnt know.
Due to boredom, and needing to boost my SSDI and eventual SS, i have gone back to work part time. Itll give us sone extra to put away for retirement.
We wont have an extravagant retirement, but should be doable.
My OH won't plan to retire until FRA.
Well eventually see how it turns out. Especially after moving to low COL area.
I think most of that budget sounds reasonable for 1 person in an extremely inexpensive area.
Cable seems a bit low, I know Sling is around $30 after taxes and that you only get about 35-40 channels, but that’s not a huge difference.
We have a family of 4 and we’ll spend about $60k this year. If you back out daycare and the money associated with our principal and interest for our home we are looking at $35k in expenses this year and that includes a few vacations and flights to visit family, etc.
As eddiehaskell stated, how he did it is irrelevant. If you have no mortgage or car payment, you've pretty much got it made.
What his link of house for sale doesn't tell you is that Gastonia, for lack of a better term, is a dump. High crime, high poverty. So yes you can buy a cheap home somewhere, but do you want to keep looking over your shoulder ?
I think most of that budget sounds reasonable for 1 person in an extremely inexpensive area.
Cable seems a bit low, I know Sling is around $30 after taxes and that you only get about 35-40 channels, but that’s not a huge difference.
We have a family of 4 and we’ll spend about $60k this year. If you back out daycare and the money associated with our principal and interest for our home we are looking at $35k in expenses this year and that includes a few vacations and flights to visit family, etc.
$35k ain’t too bad if you can get the mortgage cleared away. I bet you could get that down to $30k without much trouble. Still it would take a lot to do absolutely nothing and make $30k/year, but it would be good to know that if you eventually had a return of say $10k/year (maybe more) your family only needs to come up with $20k to be totally sustainable.
$35k ain’t too bad if you can get the mortgage cleared away. I bet you could get that down to $30k without much trouble. Still it would take a lot to do absolutely nothing and make $30k/year, but it would be good to know that if you eventually had a return of say $10k/year (maybe more) your family only needs to come up with $20k to be totally sustainable.
Well we're at a point now that our investments at a 4% WR could produce the $20k, so that's doing absolutely nothing and earning $20k/yr. Plus I honestly have no desire to quit my current job. I work from home and get to create new products in an area I loved enough to pursue a PhD in. Same for my wife, at this point she really likes what she does. By the time we would be able to retire (early) our kids would be in elementary school, so you're kind of stuck for 9 months out of the year anyway and travel would be the thing that interests us the most. Other than that my interests are sports, working out, being outdoors and data science. I get my sports in the evenings and weekends, can workout in the morning and during lunch break, and my work is data science. So I'd probably do very similar things if I was retired. Might as well make a good income and do them.
My main point was that living on what many people would consider a low income is extremely doable. I'm not even that extreme and have an infant and a toddler and when you back out the mortgage payment (which most people pay off before they retire) and daycare which isn't necessary if you are retired, we are spending less than $3k/month.
I don’t know anything about public assistance...just know I only get a health insurance subsidy.
So you ARE getting public assistance.
Best of luck to you and your way of life.
I refuse to drag groceries home on a bicycle in OK where the choices are freezing or broiling. Living in a home the way you describe it in the House Forum, spending time to find eggs a nickel cheaper,.... . We initially retired at 40/41 to turn hobbies into careers and it may happen again at 60.
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