How to Retire on $1M

[Spanky]

When those bills disappear, I don't know what I will do with the money except just add it to my monthly savings, as I do everything I want to do already. I guess that is the benefit of being poor when I was young, I never developed expensive tastes!

It's too late to discover your deeply hidden wants and desires.

 

[Mulligan]

It's too late to discover your deeply hidden wants and desires.

Well it used to be too poor to do anything.....Now its too old and set in my ways that I enjoy to change. I would rather go back to work than try to discover new wants and desires. Sounds exhausting

 

[W2R]

Well it used to be too poor to do anything.....Now its too old and set in my ways that I enjoy to change. I would rather go back to work than try to discover new wants and desires. Sounds exhausting

Besides, if one is completely content, why try to rock the boat? People like you and I have reached the nirvana-like state of bliss that others can only dream of (even if we don't live the lifestyles of the rich and famous).

 

[scrabbler1]

I have never had expensive tastes, either. I have annual expenses of about $22k (one person, including taxes and HI) but have built a cushion into my budget so that if I want to go out to eat more often than once a month or go to Atlantic City with my ladyfriend (she does work FT) just to get that bit of curiosity out of our systems permanently, it won't bust my budget.

 

[flyfishnevada]

I've said it before, but my friend's mom retired on SS and $150,000. She's very frugal and lives in India for about half the year, Denmark (where she was born and has family) for about three months and back in states for another three. She does what she loves, studies spiritualism with some guru in India. She's pretty happy most of the time.

But that article seems to be encouraging people to count on being able to retire on SS and small pension and a smidgen of money in the bank. My friend's mom didn't have a choice, well she did but you know what I mean. She ran a healthful store, raised her boys and never made much money. I wouldn't plan it that way. Besides, the plan outlined in the article means your going to retire at 67 minimum to get full SS. Who wants to wait till their 67 and then live a spartan life? That's not a plan, that a last resort.

 

[obgyn65]

Same here. I am quite frugal, can live on 3k a month. However I have no SS (I don't have my 40 quarters yet) and very little pension. Plus, missionary clinics abroad cost me thousands of dollars a year. Much more when I buy vehicles to transform into mobile clinics. Therefore I have no choice but to save more as it will allow me to help more patients and save more babies in the future in third world countries. Sorry for typos, traveling and typing on iPhone

I have never had expensive tastes, either. I have annual expenses of about $22k (one person, including taxes and HI) but have built a cushion into my budget so that if I want to go out to eat more often than once a month or go to Atlantic City with my ladyfriend (she does work FT) just to get that bit of curiosity out of our systems permanently, it won't bust my budget.