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Retirement Discussions / Retire Well on Less
|Subject: Re: Any stress with bare bones?||Date: 5/26/2004 2:41 PM|
|Author: tmeri||Number: 581 of 1650|
If any of you had to do it over again would you RE on a bare bones budget.
Absolutely, yes. I can live without luxury easily.
WWL identified the real problem--what if medicare, social security, etc. go away? What if health care skyrockets in cost? I don't want to be a burden to my family or society because I chose to quit working when I could have continued earning a nice salary. I don't want my choices to spill over on to others. So I might consider some part-time or temporary work for a little extra insurance.
But working had become such an absolute nightmare for me that I had to get out.
I ask because my bare bones budget is $21-22K a year.
I'm in a similar situation. I have a small fixed pension and a small portfolio. It is enough for now and will be better when I downsize my house.
SloanT made an excellent point on the FIRE Wannabees board. He said, I think it is smarter to be daring when you choose to retire (do it early!) and then be conservative with your money after you retire to make sure it lasts.
As I said in my "Drudge No More" post, it crystallized my thinking about departing. For years I had agonized over having "enough" and I finally realized I would never have "enough."
The reason I want to FIRE is because I want NO STRESS in my life.
Believe me when I tell you this--the occasional doubt about the future is far less stressful than what I was undergoing on the job. I'm about as close to no stress as you can get.
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