Retiring is a combination of income and expenses. I retired at 68 on SS and a stipend from my 401k. In order to make that work, I live in a poor area of San Diego. To me it was an acceptable compromise, as I got to retire in San Diego.
“It’s not having what you want, it’s wanting what you got.” – Soak Up The Sun – Sheryl Crow
I am retired and living, quite well, on only SS. I have many friends also living on only SS. They complain that they are not getting enough money to live well on only SS and that I am lucky. Knowing them for 30-40 or more years and listening to them bragging about how much ’’cash’’ money they made working under the table, I finally told them that the only difference was I declared my total income and fully paid my SS taxes [self-employed @ 12%] while they kept their SS tax money and had already spent it on cars, boats and crap they no longer owned. After a lifetime of mindless spending, refusing to save money and abuse of credit they still want to blame their situation on the government. Republicans, one and all. They will continue voting against their own best interests even after republicans manage to kill SS and their all living under bridges and begging for food. It seems true that you just cannot cure stupid.
After years of hearing “save all you can for retirement or you’ll be destitute”, I now can’t make a deduction from my 401k without having a panic attack.
Concretionist 3 months ago
There IS sociable insecurity. That’s what made it possible for me… when I added it to what I could afford to take out of my 401K type investments.
colddonkey 3 months ago
Keep working and maybe you both can retire in 73 years.
david_42 3 months ago
What I have in my IRA far exceeds what I put into it. Long-term, you can’t beat the stock market.
LV Lady 3 months ago
My SS doesn’t pay all my living expenses, over 70 & still work P.T.
tcayer 3 months ago
Her expenses must be minimal, since she lives with Val…
Bruce1253 3 months ago
Retiring is a combination of income and expenses. I retired at 68 on SS and a stipend from my 401k. In order to make that work, I live in a poor area of San Diego. To me it was an acceptable compromise, as I got to retire in San Diego.
“It’s not having what you want, it’s wanting what you got.” – Soak Up The Sun – Sheryl Crow
think it through 3 months ago
I am retired and living, quite well, on only SS. I have many friends also living on only SS. They complain that they are not getting enough money to live well on only SS and that I am lucky. Knowing them for 30-40 or more years and listening to them bragging about how much ’’cash’’ money they made working under the table, I finally told them that the only difference was I declared my total income and fully paid my SS taxes [self-employed @ 12%] while they kept their SS tax money and had already spent it on cars, boats and crap they no longer owned. After a lifetime of mindless spending, refusing to save money and abuse of credit they still want to blame their situation on the government. Republicans, one and all. They will continue voting against their own best interests even after republicans manage to kill SS and their all living under bridges and begging for food. It seems true that you just cannot cure stupid.
cafed00d Premium Member 3 months ago
After years of hearing “save all you can for retirement or you’ll be destitute”, I now can’t make a deduction from my 401k without having a panic attack.