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I think anyone can retire, even off social security. You just have to reduce your lifestyle and live within your means. You don't need to live in the big city anymore. Move out to the country where houses are cheap. You don't need the big 3bed/2bath mansion anymore - sell it. Move down to something small and easy to maintain. Cut your lifestyle to the bare minimum. With the money you save, do what you love - travel, write books, whatever!
That is what my grandpa did and it seems like he is always on vacation.
So . if you live simple and grow vegetables and raise a few chickens
how little can 2 live on. (assuming house is paid for) My only concern is finally having time to explore new hobbies but not having enough money to do that. Guess I'll have to
find cheap hobbies.
I think anyone can retire, even off social security. You just have to reduce your lifestyle and live within your means. You don't need to live in the big city anymore. Move out to the country where houses are cheap. You don't need the big 3bed/2bath mansion anymore - sell it. Move down to something small and easy to maintain. Cut your lifestyle to the bare minimum. With the money you save, do what you love - travel, write books, whatever!
That is what my grandpa did and it seems like he is always on vacation.
This really says it all,just scale down and enjoy life...this is very true..
It seems that in the past it was assumed you worked to 65 then had a pension ans SS. I have had an awareness lately of people working to that age then promptly expiring. An article that really brought it home for me was an analysis of the average payout of pension checks in a large aerospace company (my field) and it had two converging columns of retirement age vs. death age. Something like retire at 49 and look forward to living to 83, retire at 65 and drop off by 67. My/our plan is to retire ASAP. I will be about 50 and wife a bit older. Sell bone-crunching giant mortgage big house in super expensive area and move to smaller house with no mortgage in less expensive area. Both have medical coverage for at least 10 years. Be able to generate about $75K/year. My pension should kick in for a raise in 10 years and SS a couple years later. Found this forum to help figure out where to go.
All I can say is if you have the chance to retire in good health take it.
Sometimes you have to break tradition and think outside the box,I know everyone's case is different,just my opinion,but to me life is too short
to be taken for granted...
I agree coartist88, I retired at 60 due to a little arm twisting from my employer. Who was going to hire me at 60? I got my LH SS and my retirement. Moved to a small town, bought a small older house with the money I made off of my house in FL. I buy food from a food network once a month that last me for the month if not longer.
I am lucky I get health ins from my employer but it has gone up at least $20 a month every year.
Not a lot but that is $80 a month I would have gotten, but you have to have health ins.
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