[SamAdams76]

Living like you have a lot less than a million makes living with a million a lot easier.

Exactly right. Living below your means is not only the way to live in retirement but it's the way to live before retirement, so that you have money to save for it in the first place.

Those who have acquired $1m in retirement assets at their full SSA retirement age (67) are actually in little danger of running out of money if they manage it properly.

Using the 4% rule, they can begin taking out $40,000 in IRA/401k distributions right away. Coupled with the average SSA check at 67 of around $2,500/mo - or $30,000 a year, that comes to $70,000 a year. (Any SSA check a retired living spouse gets is a bonus.)

Don't forget to add your COLA to your retirement withdrawals each year to keep up with inflation (Social Security does that automatically).

That should be plenty for most retirees to live on provided they go into retirement with minimal debt. If not, you are definitely doing something wrong.

[RomanSoldier19]

now do that and move to thailand and your a king

[Tijeras_Slim]

Being laid off during the first 6 months of 14 days to halt the spread, and only going back part time was great practice for “retirement” when where I worked closed. Fortunately, we have no debt at all. But you just switch gears and think money stuff through a bit more.

[Night Hides Not]

Sam, my “net worth “ is mostly home equity in the range of $250k. My wife has a federal pension from 35+ years, and I am a double dipper. Most of my salary is going to debt reduction. Once that’s done, it will go to college funds for my 3 grandkids.

We are comfortable, though not rich. I like my job, and she likes being a Nana.

For those who did time in the military, consider a federal civilian job. After 5 years, you can add your military time in for pension purposes. It’s been worth about $1500 a month to me, in addition to SS.

[rolling_stone]

you forgot they are trying to cut ss benefits because ss is broke and going negative....cola’s are a joke..they dont come close to matching inflation..

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
thomas jefferson...............