Author Topic: May've waited a BIT too long to save for retirement...  (Read 2685 times)

SavinMaven

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May've waited a BIT too long to save for retirement...
« on: June 11, 2019, 08:12:31 PM »
https://www.uexpress.com/life-and-money-with-helaine/2019/6/11/how-to-fund-retirement-with-little

Summary: Early 70s, $50,000 in savings. They do own their home at least! Her goal? To retire as soon as possible.

AliEli

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Re: May've waited a BIT too long to save for retirement...
« Reply #1 on: June 11, 2019, 08:21:45 PM »
Their situation doesn't sound totally dire, I just wonder why they didn't think about it before one half of the couple retired 😕

BTDretire

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Re: May've waited a BIT too long to save for retirement...
« Reply #2 on: June 11, 2019, 08:27:02 PM »
Hogrider16 said it best,

  Maybe they shouldn't have spent every penny they made all these years.

She makes about $8,000 a month, will drop to $1,600 a month on SS, has $50,000 in savings and doesn't want to change her life style. This is why you start saving when you are young.

Something has to give.

honeybbq

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Re: May've waited a BIT too long to save for retirement...
« Reply #3 on: June 12, 2019, 01:47:23 PM »
I'm always amused when people want to retire but have no way to cut 75% of their spending.

and 100k as a 70 year old hairdresser? That's kinda badass.

PDXTabs

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Re: May've waited a BIT too long to save for retirement...
« Reply #4 on: June 12, 2019, 08:59:43 PM »
$550k in assets and $3100/mo in SS and I'd be in Europe tomorrow!

Their situation doesn't sound totally dire, I just wonder why they didn't think about it before one half of the couple retired 😕

It's possible that the other half is totally fine living on $1600/mo.
« Last Edit: June 12, 2019, 09:06:31 PM by PDXTabs »