Do you still save each month if you are retired?

[TuborgP]

Two good pensions with one full SS and one spousal. The spousal will become a full benefit in 3 1/2 years at 70. Still saving and that will pick up even more at. 70. We are blessed




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[daylatedollarshort]

I do not think it is unusual to live on pensions and SS and keep reinvesting the rest, for those of us dinosaur retirees with pensions:

"Where do affluent retirees get their income? Portfolios invested in stocks and bonds, you might think - but you'd be wrong. Turns out many are living mainly on Social Security and good old pensions."

COLUMN-Surprise: Even wealthy retirees live on Social Security and pensions | Reuters

 

[TuborgP]

Bada bing



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[Cassie]

Yes, I still save....even though I'm retired I still have car & house repairs. If you don't still save how are these expenses covered? I also save for travel and for a car purchase when my 8 year car dies. I also save in an emergency fund for the big house or medical things. This is all from my monthly pension which covers living expenses, savings and investments. I don't withdrawal from my TSP.

 

[dtbach]

Nope! Spent 30+ years saving for retirement and now it's pay back time. Anything not spent from my SWR goes towards even a bigger vacation the next year, or we just eat out more. Plus I have some expensive hobbies which can always get more attention. Firecalc says it's safe so why not?

The kids will get whatever is left over.


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[old woman]

This is my first year and very odd about spending and saving. I only get a tiny SS check and spend more but I got another 60K inheritance and spent 35K on gifts and maybe trickle away a thousand or two more than my SS check a month so savings is up but I haven't made an effort to save. I should be going into a phase of spending about 1-2K more than my income until the end of December then will get a bunch of dividends and capital gains so the total for 4 months might be break even but my total invested money is up for the year about 100K after wasteful spending and gifts. Since I have over a million saved I should be able to spend 40K plus my SS so planning to spend 24K plus SS seems very wasteful yet safe.