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$1500 would be a nice bonus but to live on it you still need medical insurance, property tax, home insurance, utilities, car insurance, registration and every thing else even if your home and car was paid for. I guess if you ride a bike and live in a cardboard box it would work.
$1500 would be a nice bonus but to live on it you still need medical insurance, property tax, home insurance, utilities, car insurance, registration and every thing else even if your home and car was paid for. I guess if you ride a bike and live in a cardboard box it would work.
In many places, living in a cardboard box means death due to weather elements.
So we've heard a lot of folks here say that if they had a guaranteed income everyone would quit and never work again. This amazes me. most of my friends would keep working! So I wondered...how much of that is projection onto others, vs's how many here would....
ps...yes I know...a typo in the header. If a mod see's this, can you fix the typo as I cant edit it apparently. Sigh.
It depends if you are employed or if you own your own business/self employed.
It depends if you love what you do and if you feel wanted.
Personally $1500 a month, doesn't pay my bills.
I know when the oil royalties started coming in, I have been way more selective in what I choose to do.
I have a guaranteed income of $4500 and I still work.
I cannot envision a scenario where I did not work, even if I had a monthly income of $100,000.
I might not work for a paycheck at that point, but I would still do something other than sit around the house. I've never been good at that.
If I quit today my retirement income would be $2,929 and if you included my wife our combined retirement income would be $3,825 which is not enough for us to live on. If I wait for 29 more months our combined retirement income would be $4,751 and I think we would be ok on that.
Retirement should not be just about not working.
Out of any retirement income we are on medicare and unlike some people think medicare is not free. By the time we pay for Part B, Plan F supplement and Part D drugs along with the drug co-insurance we need to budget $850 monthly ($10,200 annually) for our part of our medical care.
So we've heard a lot of folks here say that if they had a guaranteed income everyone would quit and never work again. This amazes me. most of my friends would keep working! So I wondered...how much of that is projection onto others, vs's how many here would....
ps...yes I know...a typo in the header. If a mod see's this, can you fix the typo as I cant edit it apparently. Sigh.
How can anyone live on 1500 a month. I guess it depends on where you live but where is that.
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