Posted by Fawteen on October 17, 2014 at 03:39:33 from (72.65.109.79):
In Reply to: Retire or not posted by LAA on October 16, 2014 at 18:55:45:
I guess I've just been lucky, cuz there darn sure hasn't been any skill involved.
I retired two years ago this month @ 62. Part of my reasoning was that longevity is not a trend in my family. I've been paying in since I was 16, and by golly I'm going to take out every dime I can. Plus, I was working a part time job for chump change and actually INCREASED my monthly gross when SS kicked in.
Between my SS, my wife's SS and my Navy retirement, we keep all the bills paid and have a little cushion. As others have mentioned there are two main reasons this is possible: Simple lifestyle (never eat out, no vacations in the modern sense) and no debt. Only non-utility bill when I retired was a small (< $300) car payment.
One year in, I added a truck payment to that, still okay, still tucking a little away. It helps a lot that TAXABLE income went way down.
Last month, I picked up a part time job, more because I couldn't face another winter of sitting on my ample fundament than because I needed the money. I'm doing the sort of work I've always loved (building and fixing things) being paid VERY well and setting my own hours. At the moment, every dime of that income (other than what is being set aside for Quarterly Estimated Taxes) is being tucked into the Toy Fund.
Retiring was the best decision I ever made. Wife's happy that I'm around, I'm happy that I'm not working at a job I have to force myself to go to. Our fuel bill went down, our tax bill went down, and for reasons I can't quite put my finger on, our FOOD bill went down.
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