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 ...
Unfortunately, children are possessed with their own free will and do what they want. You and I both know of families wherein the children were raised the same but yet some chose a wildly different path, sometimes with bad outcomes.
I hear what you are saying and generally agree, but people are going to do what they want in spite of their upbringing.
Yes, for example, I would need a lot less than what I stated if I lived in a rural community to retire comfortably.
One never knows what decisions their children will make. I made it clear to mine that they should not expect a large inheritance. I believe that this is a motivator for them to build their own wealth.
For if I told my children that I plan to leave them one million each when I die (just to throw a number out there), they might get complacent and just sit around waiting for me to die.
Now if my wife and I get hit by a truck tomorrow, not only will we miss Thanksgiving dinner with them but they will become somewhat wealthy. However, if we live into our 90s, they will hopefully have their own resources to draw upon as we will have spent most of ours down.
Happiness is not a goal to attain; it is a byproduct of leading a meaningful life.
“How much money should a retiree have to live comfortably in today’s economy?................”
There is no magic number, it’s vastly different for everyone and for different locations. Each individual can calculate their own number depending on their specific location, needs and desires. Each person’s inflation expectation is a big factor and an unknown, that’s where it gets difficult. A better question is: How much money should a retiree have to live comfortably 5, 10, 15 or 20 years from now, depending on their age?
I tell my kids that our plan is to have the last check bounce.
My coworkers talked about when to retire in a Daily Scrum so I sent this
Think of retirement as a job. Retirement Inc comes along and makes you and your spouse a job offer. Retirement says “We want to offer you $93k a year to work for us but there is additional income potential. You will write your own job description. Do you want to accept this offer?”.
I had an elaborate spreadsheet that computed that job offer. I turned down the offer until I got the number I wanted. The additional income can be a job or a monthly draw from retirement accounts. The offer is any pensions and Social Security which is guaranteed income.
And throw out that lying bathroom scales.
Your funeral check!
Jokes on them, right? They’ll never be rid of me!
I hope someone is classy enough to bring some $$$cotch. They would have to be from your side of the family.
Happy Retirees play a lot of golf...
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!...................
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Vacationed there many times but you couldn’t pay me to live there.
It’s not so much about how much money you have to spend as how much money you spend.
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Very true. I spend very little of my retirement income because I’ve already accumulated way more in the way of material things than I need or have ever needed. And 90% of it is now nothing but a burden. My only major expense is for vacation travel, mainly to Europe. Otherwise I spend only on essentials; food, utilities, taxes, health care, car maintenance. That’s about it. In fact here lately I’ve been moving more and more toward a lifestyle comparable to the Amish. Not a care in the world!!
Happy retirees have young girlfriends. 😁
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Even the retired women???
Stay connected but don't borrow trouble. Keep to your knitting and clean around your own back door first and always. You'll have plenty to do.
Living below your means probably got you to where you are so stick with it.
Health, health, health. Do as much as you can to hold on to it.
Your kids are independent and have their own means and secure future. Absolutely.
Someday you will need someone to care for you. Work on that.
Do your kids a favor. Clean out, clean up and leave them instructions to close out your life.
Whatever trips their trigger.
😁
A joke I heard the other day.
My wife told me I should get something for my erectile dysfunction.
So I did. Her name is Cindy and she’s 28 years old. 😁
Her name is Cindy and she’s 28 years old.
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I probably couldn’t handle a 28-year old anymore, but I wouldn’t hesitate to give her a try!
I STILL can’t spend that kind of money without feeling guilty.
It was Clint that taught us....... don’t let the old man in
Happy retirees often still have a job to do
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