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69k here in nyc qualifies you for a low income housing project
Fortunately, the vast majority of people that retire do not live in NYC or Santa Barbara CA. the 70 grand a year mentioned is ridiculously high. Most average people don't make that when they are working full time, much less hope to have that in retirement.
Millions of retirees say they will never fully recover from financial losses during the Great Recession, new data show. Yet the vast majority say they are happy. That's not as contradictory as it may sound. For most retirees, having the time to do what they want is far more satisfying than having money to live well.
When you don't have enough money to pay your expenses each month I doubt having the time to do what they want figures into the equation unless it's free.
Written by someone totally clueless. 70k a year would require huge adjustments to our lifestyle, with a corresponding decrease in enjoyment.
Our income is around $50k a year and we do fine. We enjoy 4 3-5 week trips a year in our truck camper besides pay all our bills. It does help that everything is paid off. We eat well, enjoy our hobbies and life is good. Our city is expensive, relative to some other areas. We also support our autistic daughter
Sure, more income would be nice. We do buy some clothing at Value Village and grow fruits and veggies on our acreage but we have always done that. We do not smoke, drink, gamble, do drugs or dine out often. We donate to charities.
Everyone's tolerance for income (or lack thereof) is different.
With no debt and low recurring bills, I'd be fine only a $2000-$3000/month. Some people need the world on a silver platter and there is no end to what they want.
It all depends what you want out of your retirement. If you want to travel lots then of course it costs more money and you need a corresponding nest egg. If you are happy staying in your town and everything is paid for then you can live off very little. Everyone has there own expectations of retirement. One person's happiness is another person's misery. I believe the key is retirement happiness is exercise, fill your day with what you enjoy, give of yourself either as volunteering or monetary (both is great!), family and God.
interesting that a goal would be to be a 'fun person'
also, I would be reluctant to not be humble if I had a wealth of resources....karma and all....
and yes, it is always startling & a bit stunning to be reminded of what the average income is of workers in the U.S......being $29,000 per year or whatever.....
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