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Smallest retirement portfolio (successful) you've heard of
Old 03-19-2013, 01:06 PM   #1
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Smallest retirement portfolio (successful) you've heard of

So, what's the smallest one? I don't want to pry, so I'm not asking for YOUR amount...just the smallest you've heard of...this could be from the crazy uncle who says something like "I retired on $50,000 and Social Security."

No other reason than I'm curious.

The smallest I am privy to was that of my parents...they retired earlier than planned because my father had a then uncurable cancer which has now been CURED!

He did and still does have a pension though and Social Security of course, but their retirement pile was only about $175,000 10 years ago, and they've managed to take money from it while it doesn't really lose due to new growth. The pension really helps them.
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Old 03-19-2013, 01:18 PM   #2
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Poll:What is the LEAST assets anyone has retired early with?
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Old 03-19-2013, 01:22 PM   #3
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I'm staying with family in a retirement community in Florida for the winter. A friend of the people i'm staying with just bought a $35,000 home in the community(her first home). She's in her late 60's and does not work at all. She said that after paying cash for the home she only has $25,000 left plus her $1200/mo SS. She thinks she'll have no problem getting by. She listed all her expenses and it sounds like she'll be fine. She won't be able to join her friends on $5000 cruises every year but she'll get by fine. She retired with $60,000 in total saving and no other major assets.

That's the lowest savings of anyone I know without a pension and who doesn't plan to work at all. I have an aunt who retired with <$10K in assets but has a mid-five figure pension plus SS and is better off than anyone else in the family. I have another aunt who has never had a 5 figure net worth. She gets by at age 69 with $800/mo SS and a part time job of 15 hrs week at minimum wage. That's a grand total of around $1200/mo with assets of under $10K. It can be done on far less than some people think.
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Old 03-19-2013, 02:08 PM   #4
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I think location & assets (eg. a house) outside the portfolio are important qualifiers for a question like this.
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Old 03-19-2013, 02:10 PM   #5
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Mine is the smallest one I know of, the others are all heresay...
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Old 03-19-2013, 03:39 PM   #6
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Mom's is smallest. $40k currently; paid for home (worth $50k); SS - $600 / month; Stepfather's SS - $900 / mo; his pension(s) - $200 / mo

She said she was able to save her $600 / month as they live super-simple...she travels to see family a couple times a year & that's the most extravagant part of her life.
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Old 03-19-2013, 03:46 PM   #7
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That would be my MIL. Retired to live with us. Manages to add about $500 a month to her once non existent savings from her SS. Has live in servant (DW), full time maintenance and utility service (me), and just about everything she needs. Meanwhile...argh. I love to hear stories of "when I traveled to Egypt" or "Turkey"
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Old 03-19-2013, 03:59 PM   #8
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I could retire off of social security and nothing else.
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Old 03-19-2013, 04:00 PM   #9
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We start part-time (15 hrs / wk) in a 3-4 weeks. We're going back to Mexico and live off that; volunteering the rest.

We have appx. $1mil with no assets (sold house in 08); living like gypsies for now. I figure if I can w*rk a little and give a lot, this may be the way for us. We'll see.

60 hrs commute and w*rk in LA is definitely NOT for me anymore...
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Old 03-19-2013, 04:11 PM   #10
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We have appx. $1mil with no assets (sold house in 08);

..
This may be the most obscure statement in the history of this board.
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Old 03-19-2013, 04:35 PM   #11
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I could retire off of social security and nothing else.
I don't think I could because my SS will probably only be around $1000/mo. because of low average income. A few hundred more and I could manage ok with no savings.
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Old 03-19-2013, 04:49 PM   #12
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I find it amazing that virtually no matter what someone asks on this forum, it's been asked before. I'm a little reluctant to start new posts.

Now to answer the OP's question: This is a true story. Really. DH w*rked with a guy who decided to quit his j*b because his mom died and left him a "boat load".

He took that $50,000 and bought an annuity, which was going to be his sole source of income. That was about 15 years ago. He lives in a trailer in the woods somewhere in the Midwest, and from what we understand sometimes his propane tank is full, and sometimes it's bone dry. But he's still not w*rking.
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Old 03-19-2013, 04:49 PM   #13
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I could retire off of SS only as well, but it sure wouldn't be early retirement, I'd have to wait 30 years longer than necessary to retire. Quite a large number of people basically only live on SS.

Somewhat substantial assets would be needed if SS/pensions were thrown out the window, I'd guess $300k+paid off house would be near the floor, barring unrealistic survivalist strategies that end up ultimately relying on SS disability as a safety net.
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Old 03-19-2013, 04:52 PM   #14
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I could retire off of social security and nothing else.
With a high SS a person could.
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Old 03-19-2013, 04:54 PM   #15
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I know a person retired on $1300 but they have a paid for home.
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Old 03-19-2013, 04:54 PM   #16
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This may be the most obscure statement in the history of this board.
Re-reading my post is a little funny...

I meant to say "hard assets"...only paper money, like Charmin?
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Old 03-19-2013, 05:24 PM   #17
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I find it amazing that virtually no matter what someone asks on this forum, it's been asked before. I'm a little reluctant to start new posts.
There's new information all the time. I usually search before starting a post, but my searches come up empty often, probably my error. If there's a similar (recent) thread, someone may link to it just to add to the thread.

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Old 03-19-2013, 05:46 PM   #18
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......

I meant to say "hard assets"..
Am I still on the right forum?
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Old 03-19-2013, 05:49 PM   #19
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Old 03-19-2013, 05:54 PM   #20
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Originally Posted by SumDay
I find it amazing that virtually no matter what someone asks on this forum, it's been asked before. I'm a little reluctant to start new posts.

Now to answer the OP's question: This is a true story. Really. DH w*rked with a guy who decided to quit his j*b because his mom died and left him a "boat load".

He took that $50,000 and bought an annuity, which was going to be his sole source of income. That was about 15 years ago. He lives in a trailer in the woods somewhere in the Midwest, and from what we understand sometimes his propane tank is full, and sometimes it's bone dry. But he's still not w*rking.
Don't be reluctant to start a new one. Take the link as supplemental info, not an attempt to kill your post. The way I see it you would lose either way. If you didn't get "hammered" from starting a repeated topic, you would catch if for restarting a thread from the "dustbin". As Midpack said, new people come on all the time and bring new perspective. Although I must admit even I am worn out on the "to pay off your mortgage or not " threads.
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