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why would he be bragging?
That isn't a large sum of cash.
Why is it on the C-D if you say you are a senior living in assisted living and ss and need help then everyone is more than willing to give you advice but if you dare to say you have a modest income and want help then you are "bragging"?
Jeez, not everyone is dirt poor.
Edited: I live in a high cost of living area. 6K a month is squarly in middle class-ville.
op, sign up at early-retirement.org. lots of helpful advice there and no one will castrate you because you are have a modest income.
Based upon the numbers the OP gave, that's roughly $110,000 a year ... in retirement that he will be living on when you combine the pension, 401K, and SS. Maybe more, depending on SSI.
That's more than most working people in the NYC area make at their peak ... ever. Probably more than 80-90% of people will ever make at their peak.
And yes, I live here too. Astoria, Jersey City, north Jersey, Long Island. You name it. I know all the areas.
[mod cut -personal attack]
Last edited by VTsnowbird; 06-13-2018 at 04:24 AM..
The big unknown is health care - both in terms of what policies will be available to you (possibly none, if the mandate requiring coverage of pre-existing conditions is repealed, which Trump would like to do) and what they will cost. Right now we can't answer those questions. Fortunately you don't need an answer until around age 58 or so when you can start planning in earnest.
That says more about you than it does about the OP. You're young enough that you've not yet had to give much thought to what retiring before age 65 (when Medicare eligibility begins) actually requires in terms of financial resources. Even people with a million or two in the bank could be wiped out financially if they are unfortunate enough to retire early without rock-solid medical coverage.
Last edited by VTsnowbird; 06-13-2018 at 04:26 AM..
It's like saying you earn $110,000 a year and ask if that is enough to live on if you are 35 years old (and single, no wife) in the Work and Employment forum.
You're going to get the same blowback because there are people who live on way less, obviously.
Just be more specific with your questions.
Saying "Can I make it?" is a little disrespectful in my mind.
But you're obviously not one whose opinion is going to be swayed, so I'll just say ... that's just my opinion (and the other posters').
Last edited by VTsnowbird; 06-13-2018 at 04:26 AM..
It's like saying you earn $110,000 a year and ask if that is enough to live on if you are 35 years old (and single, no wife) in the Work and Employment forum.
Yep. $72K in pension at age 60 is like having a million+ worth of annuity. Tack on another $500K in tax deferred where you can draw $20K pretty safely. Then probably some Social Security. Paid-for house of some unknown value. You're up in the 90th+ percentile of retirees somewhere.
It's pretty sad when people can't just give useful information, but feel compelled to opine on politics and one's personal situation. Seems like there's some resentment toward the OP for being successful and planning ahead. If you can't contribute to the discussion, just move along.
I know somebody that's doing it on $1200. a month income. And they travel as well. Just depends on how you want to travel. They go by car. Doesn't take much gas at 30 mpg to go anywhere and they drive a 2017 car. They don't eat steak every day and the wife isn't covered in diamonds. They live in a 1400 sq ft house that they completely remodeled themselves on that same $1200.00. The house is paid for. Your 6 grand would be like hitting the lottery to most folks on Social Security. Is 6 grand enough? For most folks, it would be an improvement in their life style.
It's like saying you earn $110,000 a year and ask if that is enough to live on if you are 35 years old (and single, no wife) in the Work and Employment forum.
You're going to get the same blowback because there are people who live on way less, obviously.
Just be more specific with your questions.
Saying "Can I make it?" is a little disrespectful in my mind.
But you're obviously not one whose opinion is going to be swayed, so I'll just say ... that's just my opinion (and the other posters').
But why? If he said he was on public assistance you would have all kinds of advice.
You are right though, I hope I never get to the point where saying Im successful is considered disrespectful. LOL
That says more about you than it does about the OP. You're young enough that you've not yet had to give much thought to what retiring before age 65 (when Medicare eligibility begins) actually requires in terms of financial resources. Even people with a million or two in the bank could be wiped out financially if they are unfortunate enough to retire early without rock-solid medical coverage.
Perhaps I shouldn't have said I thought he was a troll.
But that was just my honest first thought.
Keep in mind, I just came from the thread where people were talking about making it on SSI alone.
In any case, it wasn't my intention to argue with anybody or get (or make anybody) nasty and I will step away from the thread. I apologize to OP.
And my opinion is ... yes, it's enough.
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