NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
My MIL retired with a teacher’s pension, SS, and a small nest egg. She has actually added to her savings during retirement as she doesn’t spend all of her income. She rents a small cottage that she loves, surrounded by nature, and lives a simple lifestyle. She thinks she is wealthy because she buys anything she wants for herself, plus she gives her grandkids and one of her sons a fair bit of money every year.
She does not receive any social services and is on traditional Medicare with private supplemental insurance. Her healthcare costs are minimal.
The key is being happy with what one has. DH and I would not want to live on her income, but for her, it’s more than adequate and she has never withdrawn a dime from her nest egg since retiring.
"It's just as easy to live well when you're poor as when you're rich - but when you're poor, it's much cheaper." -- Andrew Tobias
Caveat: Tobias talks about being poor. If you are broke and homeless, you are way beyond poor.
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