I’m getting ready to retire on pretty much nothing but SS and we should be fine. In fact, our monthly cost of living should be about half our SS payments, if that. The key is paying off your house and living in an area where living is rewarding and cheap. In our case, it’s 32 acres in south central KY. Our property taxes are just a few hundred a year.
I also worked in IT and will end up getting close to the max SS payment.
Without going into details, a divorce a long time ago not only decimated my finances, but made me a little bit nuts, regarding saving money. People can’t take what you don’t save.
Similar story here. Living quite welloSS...house paid off, no CC debt. County living, home paid for,500 yearly taxes.
I've seen that story play out so many times. Man works his whole life, builds up a nest egg, only to have it mostly taken away from him in divorce court. Not saying that divorce is always the woman's fault but it's the man who gets taken to the cleaners pretty much every single time.
So as I approach my own retirement age, I can only keep saying "Keep the wife happy, keep the wife happy, keep the wife happy..."
They also cannot take what is difficult to find or prove. That little nest egg you add to every week, turns into a couple dozen eggs by the time you are 60.
True.