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This thread has been going for a long time, but I just noticed it. I haven’t read everything yet.
Hubby and I have been retired for 8 and 6 years. We have a small nest egg, but otherwise just SS. We take $400. a month from the IRAs and hubby makes about $1100. a month working part time. When he cannot work anymore, we will need to start taking more money, and it will not last forever, but neither will we. Things always work out, one way or another.
What I wanted to say is, we are diligent about looking for ways to lower our monthly expenses. We shop every year for our insurance and health insurance. If we get a deal on cable or phone, we switch. If we need to buy something expensive, we get zero% financing. It’s important to stay vigilant. An example is, two years ago we were buying a car at very low interest (a small cheap car) but the payment was $380. a month. We decided to trade it for a car we like much better, but we’re leasing it for $250. this car is cheaper to insure, so we had a net monthly gain of about $200. This is a lot of money to us.
We live frugally, but we don’t want for anything.
Clever thinking! Those little gains add up. I like the old saying, "Watch the pennies, and the dollars will take care of themselves".
Hi and welcome to a new thread devoted to those retiring without much money!!
I hope to hear from folks in the same boat who are not getting a pension or high investment, just a modest income SS income and maybe some savings.
Seeking a forum of supportive comments, suggestions for survival, tips on saving money, humor, philosophy, cultural finds, cheap trips, great reads, etc.
On this thread I would really like to stay on topic (so easy to go off!)
My first question is, for those who may have lost a job close to retirement or those who decided to chuck the job and take early SS, how are you making it? Are you glad you made the decision and why?
~~NewEnglandGirl
That's a question that makes people think! As soon as I read it I did a mental review of finances. I stopped working in July and I'm going to see if I can make it on what I have. It means some juggling while I downsize to an apartment. Maintaining a house and yard is expensive so the first step is to reduce monthly costs.
I have no pension - maybe $3.17 a month. No idea, but not something to rely on. I didn't work enough years due to raising young children, study and travel. I worked off and on for the last 18 years, sometimes on a contract basis, sometimes with a pension plan.
So far so good regarding being happy about the decision. The biggest obstacle today is emptying a house where children were raised. It seems like I spent 40 years accumulating stuff based on what's best for the children. Now I'm making decisions that are best for me.
Reducing costs is my priority. I have a house phone and cell phone, no more house phone. Only the basics will be retained. Extras I will keep are art supplies, sewing machine, antique fabric that some other generation left behind, silk screen frames, and other tools that I can use for my amusement.
I remember a Christmas when my children were young teenagers and I had nothing. I scraped together enough pennies for a box of salt, and I had a packet of purple dye. That Christmas we had the pot on the stove and a cold water bath. We tie-dyed the underwear and anything else would look better purple. No money, but endless happy entertainment.
For a few years we belonged to a group that brought in food not"fit" to donate to food banks. Everyone would pay $25 a month [to pay for refrigerated trucks, gas, etc] and we would get a carload of food. I would have my fridge cleaned, mason jars ready, food dehydrator out, etc. before picking up the food.
Probably half the food was salvageable [sometimes more. sometimes less.] The other half would go to the chickens, the goats or the compost pile.
Then I would spend over 24 hours straight cleaning, blanching for the freezer, canning, dehydrating, etc. We would ussually wind up with about $200 of good food.
Compassion food Distribution had been going strong for over 20 years before the health department shut it down. It's motto had been "Too Rich to get help. Too poor to get by." it helped so many in the Pueblo area.
After they closed down we were advised to keep checking back because the organizers were working on something. [this was shortly after Covid hit] Well, what they put together was even better, but is only temporary.It is actually a seperate program from the first.
The organizers made deals with farmers, restaurants, all sorts of institutions that generally supply food to places that, because of Covid, were in danger of closing. We are able to purchase food for super cheap, but enough to keep the producers surviving. We get about $300 of food, totally fresh, for $40 a month.
This is a win'win/win situation. More companies stay open. More workers retain their jobs, more people can afford good food, and our local food bank receives about half of what we buy.
I'm not part of the organizing of this, but it has helped me, and thousands of others thrive during difficult times.
I know this won't last forever. The sooner it ends the better because that will mean the economy is doing better. As it is now, we have about 6 months of food put up. All because of these two non-charity programs.
Reducing costs is my priority. I have a house phone and cell phone, no more house phone. Only the basics will be retained. Extras I will keep are art supplies, sewing machine, antique fabric that some other generation left behind, silk screen frames, and other tools that I can use for my amusement.
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We downsized our phone to a Voice Over Internet P? (VOIP). Using Nettalk we pay 7.00 a month. We use this phone number for most things and most outgoing calls when we are at home. We use our cell phones if we are out of the house and rarely use data on the phone. We only used it one time this year for about 5 minutes. Since we use our cell phones rarely, we use as pay as you go plan with PagePlus. Cost for each of our plans is 10.00 every three months. https://nettalkconnect.com/ https://www.pagepluscellular.com/login/
In Post #234, RiverBird, a professional editor, explained why she chose to use the word "literal" in the thread's title. For those who are unaware, RiverBird was a respected poster who died a few years ago.
Quote:
Originally Posted by RiverBird
LOL--I meant by it "no kidding"---Many people say they travel or live on a shoestring but that's kindofa joke...their "shoestring" is a fortune to some!! In naming the thread I meant retiring literally, truly, honestly with very little income! Hope you join in the discussion!
Hello! Just one of the people who like this thread and hope it never ends. Still in Maryland, still in the family home. Nothing has changed much. We are continuing to hunker down but I am starting to lose my enthusiasm for prepping and many activities...I will say that the property is looking good from all this staying at home. Best wishes all you shoe stringers.
I remember a Christmas when my children were young teenagers and I had nothing. I scraped together enough pennies for a box of salt, and I had a packet of purple dye. That Christmas we had the pot on the stove and a cold water bath. We tie-dyed the underwear and anything else would look better purple. No money, but endless happy entertainment.
Wow - that's amazing - so many would have just gotten mad or cried, feeling sorry for themselves!
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LOL--I meant by it "no kidding"---Many people say they travel or live on a shoestring but that's kindofa joke...their "shoestring" is a fortune to some!!
In naming the thread I meant retiring literally, truly, honestly with very little income! Hope you join in the discussion!
