Who was Confident in Their Retirement Stability?

[TailoredLinen]

When you got to the point of ready for retirement. How confident were you your money would last throughout its entirety?

 

[jujube]

As confident as I could have been.....

There's always going to be  something lurking out there that could affect your financial stability (Will Social Security fail? Will my pension plan fail? Will something wipe out my savings?), but I felt that I was on a good foundation, so I took the leap at 62.

I still think it will last me for the duration. I'll never be livin' it BIG but I'll be livin'.

 

[Muskrat]

I was certain enough.

 

[bowmore]

I used a couple of Retirement calculators to make sure I would not have any problems.

 

[QuietByNature]

@TailoredLinen
I am retiring at the end of this year and am I fully prepared? Probably not, I might have to sell my home and move an hour outside the city limits to gain some equity OR do a reverse mortgage.

 

[Aunt Bea]

It will always be a concern for me but it has been twenty years and I have more now than I did when I retired.

IMO it’s a mistake to assume anything or to just set it and forget it.

I spend an hour or two every year and a few minutes every month to review my situation and make slight adjustments.

I spend a bit more when times are good, tighten my belt when things get rough, and avoid debt, much like I did when I was working.

 

[MACKTEXAS]

If I'm sure of anything, it is the fact that life holds no guarantees.

 

[TailoredLinen]

It will always be a concern for me but it has been twenty years and I have more now than I did when I retired.

IMO it’s a mistake to assume anything or to just set it and forget it.

I spend an hour or two every year and a few minutes every month to review my situation and make slight adjustments.

I spend a bit more when times are good, tighten my belt when things get rough, and avoid debt, much like I did when I was working.

That's awesome!

 

[hawkdon]

NOT AT ALL.....but I had a Great Advisor, and here I STILL AM!!!

 

[TailoredLinen]

As confident as I could have been.....

There's always going to be  something lurking out there that could affect your financial stability (Will Social Security fail? Will my pension plan fail? Will something wipe out my savings?), but I felt that I was on a good foundation, so I took the leap at 62.

I still think it will last me for the duration. I'll never be livin' it BIG but I'll be liv

It may not be grand, but at least you're making it happen! As we have seen the government cannot hold their end of the bargain.

 

[TailoredLinen]

NOT AT ALL.....but I had a Great Advisor, and here I STILL AM!!!

That's wonderful! Is your advisor still in business!

 

[TailoredLinen]

@TailoredLinen
I am retiring at the end of this year and am I fully prepared? Probably not, I might have to sell my home and move an hour outside the city limits to gain some equity OR do a reverse mortgage.

Tough times call for tough decisions. It's why I think information on better retirement plans should be a more normal conversation!

 

[C50]

I was/am confident but life ain't over yet and I'm wise enough to know nothing is for certain.

 

[Nathan]

Somewhat confident, but I'm still squirllin' away acorns whenever I can.

 

[Oldeagle66]

I slowly prepared for it about maybe two years before. Moved into a smaller affordable place, collected things I wanted to have to enjoy my time with. Just social security is enough for me since I've always been cheap. I don't need or require much. I've lost everything a few times and survived. I can pretty much roll with the punches of life.

 

[Paco Dennis]

I had about $40,000. I am 73, retired at 64. now have about $7000.

We had to put a new roof on our . And have a new water well drilled!

 

[TailoredLinen]

I slowly prepared for it about maybe two years before. Moved into a smaller affordable place, collected things I wanted to have to enjoy my time with. Just social security is enough for me since I've always been cheap. I don't need or require much. I've lost everything a few times and survived. I can pretty much roll with the punches of life.

Tenacious and a mind of steel! Life is full of hardships for many people, but not everyone can sustain the damages.

 

[TailoredLinen]

I had about $40,000. I am 73, retired at 64. now have about $7000.

We had to put a new roof on our . And have a new water well drilled!

That's very tragic. Emergency expenses can really dig into your funds! I feel as though education about retirement should be more common, so it easier to visualize what to expect when the time for retirement comes around.

 

[OneEyedDiva]

My co-workers thought I was crazy when I told them I was taking early retirement. I retired 24 days before my 51st birthday. Of course that meant I couldn't collect social security for another 11 years. But I knew I'd be fine and that was because:
~My retiree health and pharmacy benefits were great. My out of pocket expenses for excellent medical care were next to nothing.

~Our co-op mortgage payments were incredibly low, about 37% of average comparable apartments at the time. And I knew the board and management strived to keep those expenses as low as possible. Heat, hot water were included and there was no extra HOA fee.

~My husband and I shared some of the expenses but I never asked him to pay my personal expenses.

~I had a nest egg, but not a much as I had hoped. Still, most of that was invested and I knew that untouched it would grow nicely, which it did.

~Although I lost 12% of my pension because I took early retirement, my pension was more than enough to cover my expenses.

~I learned by my mid 20s how to make a dollar out of 15 cents, as the expression goes. That served me well.