Retirement Spending Survey
Moderator: Aitrus
Re: Retirement Spending Survey
Is Susie counting on a guaranteed pension? We were told at one FERS class that a $30K pension is like having $3M in the bank and you are living off the yearly 10% growth. Sure you can't tap into that imagined $3M but you reap the growth reward. Most retirees don't have that guaranteed money coming in and need more to ensure financial stability. Food for thought.
Re: Retirement Spending Survey
Oh, I retire in 6 days with a very comfy pension
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- Joined: Sat Jun 27, 2020 1:58 pm
Re: Retirement Spending Survey
I retired Feb 29th. Best decision ever. While I'm pulling out a little more than I planned right now, that will reduce in a couple of years when the mortgage is paid off. And I want to have some fun while I'm still "young and able" at 58ish. Not a millionaire, but I have enough. And yes, expenses have went down drastically in some areas. I think I've only bought gas 4 times since Feb, due to traveling less and COVID-19. But, I've spent more in other areas like hobbies and honey-do list items for the house. Great times. Money isn't everything, but it is important to have enough. And only you can answer that question - it is enough?
Re: Retirement Spending Survey
Hi Bloobs--actually it's her mom not her dad that's paying! and the "tony NYC apt" is in Brooklyn with 2 other roommates (not very classy). and she's finishing school. so she'll be on her own this fall! And yep that'll be a financial relief to us!bloobs wrote:Your daughter better show you how grateful she is for having dad pay for her tony NYC apartment. That is certainly a privilege most parents do not owe their kids.twinkc wrote:No debt, other than house mortgage and daughter's Brooklyn NY rent.
Re: Retirement Spending Survey
I recommend checking that math.Mad Maxx wrote:Is Susie counting on a guaranteed pension? We were told at one FERS class that a $30K pension is like having $3M in the bank and you are living off the yearly 10% growth.
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