The Motley Fool Discussion Boards
Retirement Discussions / Retirement-Soon or Done
|Subject: Re: Retiring on a Shoestring||Date: 5/21/2000 11:47 AM|
|Author: yr2012||Number: 109 of 169|
I don't think in today's world that it's possible to retire on a shoestring anymore. It really costs a lot to retire, unless of course, you're Warren Buffet.
The first shock I got, was when I no longer had a paycheck to count on every two weeks. After I got over that, I became extremely frugal in my spending habits.
I re-defined LYBM.
My best advice, is for them to stay put, don't sell their house. Go out and about and research, visit and research an area intensively BEFORE selling and moving.
One of the biggest mistakes I've seen neighbors and friends make over the years, was deciding on a moment's notice to move to FL or AZ or wherever, just because they vacationed there. They sell the home, the car, the boat and move on a "whim". They're back inside of six months, begging for their home back. Some do succeed, but most fail.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|