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all credit cards are gone. It is a pay as I go or we do not get it plan.

Not charging more than you can pay off at the end of the month is very wise at any age or employment status. Or did you mean that you canceled all of your cards, which seems unwise, or paid off your CC debt?

When you can no longer work, it's much harder to make up for overspending. People with little in the way of retirement resources other than pension/Social Security can be in a pickle when an unavoidable large expense comes along, such as a new roof or a lot of dental work. Some folks have to charge up credit cards or make other arrangement to pay over time if there's no place else to get the funds.

I do not follow the mainstream advice of having only 10% of savings in the stock market when you actually retire.

That is not mainstream advice. But my elderly mother is doing fine with 25% in the stock market, the rest in bonds and CDs. That was mainstream advice when she retired over 20 years ago and many retirees are doing it now, but I can't recall reading or hearing about the 10% figure.

I did not have to loose my home.

I'm happy for you!

But for some people, home ownership doesn't work well in old age when it's often harder to stay on top of maintenance and bills (and investments).

We're retired and don;t have to lose our home either, but we still may sell it. It's bigger than we need. Not having a mortgage doesn't make it free. We still have property taxes, homeowners insurance, electric bills, landscapers, maintenance, repairs--all of which cost more the bigger the property.
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