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Retirement Discussions / Retire Well on Less
|Subject: Re: Win the lottery...and keep working?||Date: 3/10/2010 5:03 PM|
|Author: alstroemeria||Number: 1360 of 1491|
how the heck does anyone ever retire?
Multiple income streams help. In our first full year of hubby's retirement (I'm already retired), we expect to live on:
50% Social Security
40% investment income
10% pension income from 2 tiny pensions
Hubby might also teach one or two classes for one semester per year for an additional income stream.
My grandparents lived in NYC on a tiny SS check (and a little help from my parents). My parents--now just my mother, lives on equal parts Social Security and Mom's pension taken as a lump sum and invested.
It helps to live low on the hog, perhaps in a small house with a paid-off mortgage, with cheap hobbies and so on. With low expenses, you don't need $4MM, or even $1MM.
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