Do any of you cut it really close in easy retirement?

[harllee]

CalifGal, welcome to the Forum, you are getting some good advice and questions here but this Forum is not really geared to folks retiring on a shoestring budget. I recommend you look at the Mr Money Mustache Forum, that Forum is full of people who have retired on a shoe string budget. They have a Forum section called "case studies" where you can post your information and get some good advice. Good luck to you!

 

[Sunset]

Yes the numbers were wrong. ...... I've asked him to show me but he's not wanting to do it. The budget is surely higher than I listed as we sell eggs to the neighbors and some folks from church but I don't consider that $$. .....

Is all your money mixed together ?

The not showing is a huge issue. To me it says: he doesn't trust you, or he has done some dumb stuff with money... If nothing is wrong showing the money shouldn't be a problem.

Once I read a story about a retired couple, one of them spent all the retirement money on something (doesn't matter what) over time, and the ~$250K they had in savings was gone over a few years...
The spouse only found out when the bank called

 

[MarieIG]

Welcome to the forum CalifGal,

It does sound like you have a very nice place to live and health insurance, so those are definitely positives.

Taking care of someone with dementia is hard work. Dementia can trigger behavior issues.

It is very kind of you to give your friend some relief.

 

[CalifGal]

Is all your money mixed together ?

The not showing is a huge issue. To me it says: he doesn't trust you, or he has done some dumb stuff with money... If nothing is wrong showing the money shouldn't be a problem.

Once I read a story about a retired couple, one of them spent all the retirement money on something (doesn't matter what) over time, and the ~$250K they had in savings was gone over a few years...
The spouse only found out when the bank called

At that moment he did not feel like doing it. He had already gotten the bills out to verify those so it depends upon when I ask, how much he's had on his plate that day.

 

[iloveyoga]

Welcome to the forum. There are many different ways to do things and many different comfort levels. I am getting ready to turn 65 and just quit my PT job. I really do not want to watch our expenses that closely and at this point I do not have to. I did it for many years though, part of the reason we are here. Neither of us will need to return to work in the future. So to echo many others, yes, too close for comfort for me. I like to cook a lot, but it takes time and it sounds like you would be spending a lot of time on food prep, again all personal preference. Good luck!

 

[Sunset]

At that moment he did not feel like doing it. He had already gotten the bills out to verify those so it depends upon when I ask, how much he's had on his plate that day.

Ok, a one or two time thing is no big deal.
I thought it was an ongoing issue which would be a problem.

 

[CalifGal]

Ok, a one or two time thing is no big deal.
I thought it was an ongoing issue which would be a problem.

I agree

 

[jollystomper]

I admire those who choose to cut it close in retirement. I just could not do that. I had the choice in 2012, but could not bring myself to take the chance. I chose to work another 6 years beyond that to have an extravagant (in our terms) retirement lifestyle.

 

[cyber888]

I guess you need to use your financial skills to juggle your finances to make your budget fit. Maybe you can cut on "giving" if u need to really do so, if you have an emergency. Giving should be discretionary if your funds are not tight.
I had to work a few years more, as it did not want to cut it really close.

 

[pacergal]

Yes I just went back to my former job I had for a short time. My close friend works here managing the home for a lady w/dementia. They loose a lot of staff. Her behavior issues are worse than her dementia. To bed around 9-9:30pm, up around 8am. Lots of time off downstairs where we have a living room, covered deck, 3 bedrooms and two baths, tv and so far, very fast internet compared to this one.. Nice bed, not too bad of a job, hopefully, for the long run.
A staff wants time off. I told her I would cover her 48 hr shift starting tomorrow morning at 11am so she can get away to watch the Super Bowl. She's burnt out so we'll see how she feels when she comes back.

OK, great. Lots of folks work on call or part time in retirement. I did also for a few years. It's all about what you want to do with your time, and bringing in a few extra $ always helps. Many folks live frugally and have fulfilling, successful retirements.
Best Wishes to you. Enjoy life!

 

[GenXguy]

I admire those who choose to cut it close in retirement. I just could not do that. I had the choice in 2012, but could not bring myself to take the chance. I chose to work another 6 years beyond that to have an extravagant (in our terms) retirement lifestyle.

Yeah, unless cutting it close actually includes a large expected discretionary spending budget that can be cut back easily and significantly if needed. But for bare bones spending, definitely not.

 

[Koolau]

Is all your money mixed together ?

The not showing is a huge issue. To me it says: he doesn't trust you, or he has done some dumb stuff with money... If nothing is wrong showing the money shouldn't be a problem.

Once I read a story about a retired couple, one of them spent all the retirement money on something (doesn't matter what) over time, and the ~$250K they had in savings was gone over a few years...
The spouse only found out when the bank called

A President once said "Trust but verify." Words to live by.

 

[Koolau]

I admire those who choose to cut it close in retirement. I just could not do that. I had the choice in 2012, but could not bring myself to take the chance. I chose to work another 6 years beyond that to have an extravagant (in our terms) retirement lifestyle.

I too admire folks who live "on the edge" so to speak. Making ER w*rk even though things are tight is admirable in my book.

I w*rked 7 years past what I called "Financial Independence." I could have made it w*rk for us, but the freedom of the extra income and stash gained during that time has really made it a lot easier to live without "fear" of running out of money. It also has made it easier to give more toward our favorite charities. My main motivation for continuing at w*rk was that I had finally created the "perfect j*b" (for me.) I wanted to stay while I was (finally) enjoying it. The day I no longer enjoyed it was the day I gave my notice. That is freedom in a nutshell. That's how I look at money - as a major element of freedom. BUT, I know many would disagree so YMMV.