Was just fired from job...35...approx 420K in assets...Time to throw in the towel?

[oldcarfan]

you can live on 10K/year - anybody can really.

The question is.... Do you want that 10k lifestyle ? Or do you want a better lifestyle ?

It is easier than it looks - just do not own a car, collect recyclable cans for food, buy extremely cheaply, no new clothes and get entertainment from internet, free shows, library books, no illness and be a loner.

I would like a better lifestyle, but if it is the choice between having to work and not having to work, I would sacrifice a lot.

 

[dex]

To continue working indefinitely but retire as soon as financially possible. Job had good health benefits while it lasted

Then that should help answer your question.
You had a net worth goal in mind to reach before retiring. If you are there you are good to go; if not ...

 

[oldcarfan]

Thank you everyone for the suggestions.

 

[haha]

It is easier than it looks - just do not own a car, collect recyclable cans for food, buy extremely cheaply, no new clothes and get entertainment from internet, free shows, library books, no illness and be a loner.

I used to hear that billy goats ate tin cans, but I later learned that this was not true.

What is your secret?

Ha

 

[oldcarfan]

I used to hear that billy goats ate tin cans, but I later learned that this was not true.

What is your secret?

Ha

Secret to living on 8-10K: Don't care about style, be a bit reclusive and enjoy fee-free entertainment. If you have a social life, forget about living on that low a budget

 

[haha]

Secret to living on 8-10K: Don't care about style, be a bit reclusive and enjoy fee-free entertainment. If you have a social life, forget about living on that low a budget

To me, this sort of thing is similar to climbing Annapurna. It is fun to think about, maybe even read a bit about, but I think I'd rather pass.

You must have extreme self control to undertake this.

Ha

 

[plex]

Well, if it makes you feel better, I also have (and plan to indefinitely), live on around $10k/year (inflation adjusted). Some people just don't like socializing very often, even if they can carry a conversation just fine and people find them personable. Some people just happen to have really inexpensive hobbies. Joining activity groups costs almost nothing if you DO want to socialize, work is not required.

Nothing extreme is required, but enjoying free or mostly free entertainment, needing minimal travel, having an understanding partner (or not having one), and being in good health are all required. This is not for a lot of people, it is not the American way to pursue any of these things.

On the other hand, if you feel something is missing, then you should take care of that, life is about the pursuit of happiness.

 

[Letj]

I couldn't agree with you more Plex. I can't imagine why socializing would cost a lot. I am somewhat of a homebody but frequently have family and friends over for dinner and a movie. I am extroverted and like having company but my socializing costs is virtually nil. I also socialize quite a bit through the church activities and other groups that I join such as a choral group which doesn't cost anything. Socializing costs would not be something I need to factor into my retirement. Since I only occasionally do the restaurant thing, the cost is minimal. I have a rich social life that does not cost my anything especially given the fact that I have two children and I get to participate in their activities for virtually nothing.