Thank you for posting this link, Stephenie. It was interesting to hear her views. Don't really apply to me anymore because I am already retired. Whether it was the right decision or not can be argued, of course, because I did retire before I was 65 (never mind the 70, she recommended), but, I had my reasons for doing so. I have no regrets. I live frugally, but, well, on my retirement pay and still manage to add to savings. As for medical directives, etc., I did that well before retiring, when I had the cancer diagnosis. :)
It sounds to me that your decision was very right for you, Bless. You keep your expenses low, and you are very disciplined. You also aren't having to take care of an elderly parent. Well done on your retirement planning.
Thank you, Stephenie. I did the caring for an elderly parent, putting a child through college, paying off the house, etc. all before I retired. Now, I am checking to see if my retirement pay will be cut due to the current economic situation. If it does, I should still be OK because I keep my expenses below my income. I don't have a whole lot of discretionary spending where I could make cuts, but, I could do some belt tightening (eliminate piano lessons, for example, or reduce the holiday gift budget from $25/mo. back to $10/mo., which is what I did during the 2008 recession and I had a 20% pay cut at work.) The trick is to keep your living expenses low and live well below your means, while still enjoying daily life. :) Don't mean to preach, but, just sharing what I have learned and practice.
I agree, Bless. That's what my dad did, too. He also reinvested his dividends. I started giving homemade soap and hand knits as gifts. It has saved me so much money. Everyone seems to love a pair of hand knit socks, slippers, or a bar of delicious smelling shea butter goat's milk soap!
I really like how Suze explains her views. This was taped before the virus hit. It's so true...
ReplyDeleteThank you for posting this link, Stephenie. It was interesting to hear her views. Don't really apply to me anymore because I am already retired. Whether it was the right decision or not can be argued, of course, because I did retire before I was 65 (never mind the 70, she recommended), but, I had my reasons for doing so. I have no regrets. I live frugally, but, well, on my retirement pay and still manage to add to savings. As for medical directives, etc., I did that well before retiring, when I had the cancer diagnosis. :)
ReplyDeleteIt sounds to me that your decision was very right for you, Bless. You keep your expenses low, and you are very disciplined. You also aren't having to take care of an elderly parent. Well done on your retirement planning.
ReplyDeleteThank you, Stephenie. I did the caring for an elderly parent, putting a child through college, paying off the house, etc. all before I retired. Now, I am checking to see if my retirement pay will be cut due to the current economic situation. If it does, I should still be OK because I keep my expenses below my income. I don't have a whole lot of discretionary spending where I could make cuts, but, I could do some belt tightening (eliminate piano lessons, for example, or reduce the holiday gift budget from $25/mo. back to $10/mo., which is what I did during the 2008 recession and I had a 20% pay cut at work.) The trick is to keep your living expenses low and live well below your means, while still enjoying daily life. :) Don't mean to preach, but, just sharing what I have learned and practice.
DeleteI agree, Bless. That's what my dad did, too. He also reinvested his dividends. I started giving homemade soap and hand knits as gifts. It has saved me so much money. Everyone seems to love a pair of hand knit socks, slippers, or a bar of delicious smelling shea butter goat's milk soap!
Delete