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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 1699|
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