Posted on 11/25/2024 10:19:23 AM PST by ChicagoConservative27
A 2010 Time Magazine article about the plateau effect—Americans not seeing significant rises in happiness levels as income rises above $75,000—inspired my first intensive study on the relationship between money and happiness. Though roughly 15 years have passed, and more nuanced conclusions have been analyzed, the eye-opening revelation remains an essential reminder for retirees. Namely, happiness isn’t only about the money itself. What people do with that money can often be the difference between a happy and unhappy retirement.
(Excerpt) Read more at forbes.com ...
“Don’t leave your kids anything.” - Warren Buffett................
So much for retired Gallant.
What about the rest of the retired Goofuses?
Amen!
As a happy retiree I say...stay busy!!
I’m good on all 10 habits.
Yes, to all of these. 15 years in, it’s been great.
The correct question is the opposite one:
How little money can a retiree live on comfortably in today’s economy?
Controlling expenses is critical.
That's $120,000 a year.
Using the 4% rule, that would require a retirement savings of $3 million.
However, Social Security should be considered as well. So if you are married and you have $60,000 a year in Social Security benefits between the two of you, you would only need to withdraw $60,000 from your retirement savings the first year of retirement.
That would be $1.5 million in retirement savings.
Told mine not to expect any inheritance, that they needed to prepare on their own.
That money does not belong to their children, although some children feel that they own it.
Sounds about right.
I would imagine that your location is critical as well.............
Exactly—and one of the benefits of retirement is you get to pick where you live—your job does not make the decision for you.
They stop with large projects some do until they die. The dummies never enjoy their life’s work and keep creating more work.
Our cats have been doing more sucking up than normal. Maybe they sense something...?
Since I already live in Florida, that’s one I can cross off the list! And a cheaper region as well! Plus I own my home!...................
It’s not so much about how much money you have to spend as how much money you spend.
Happy retirees have young girlfriends. 😁
Same. I went back to work PT just to have something to do and now we are piling up cash and not touching our investments. And I started Social Security this month.
Happy retirees are debt free and own a home.
Happy retirees don’t worry about money. I spent $500 for a room at the Days Inn for Homecoming weekend. I am spending about the same for a suite for 3 nights in a resort town.
Happy retirees live where they want to live.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.