Basic math for living

[Muskrat]

I am often struck be how many adults (even very smart educated ones) do not understand basic math for living. They do not understand mortgage loans. Compounding interest or how much it really costs to own a car. They can not read labels that give you the price per pound of items. This scares me. Math is extremely important for anybody… but seniors need their A game.

 

[Myquest55]

I completely agree!! For me, as we neared retirement, I kept seeing "estimate your expenses in retirement..." and kept thinking it was this magic formula that no one would share. UNTIL, one day I realized that "expenses in retirement" were not so different from the expense I already had!! The light bulb came on and I started a list. THEN, I made plans so that our "income" had to be MORE than our expenses because prices seem to always be on the rise. Simple math but, crucial!

( 7 years later, we're fine, BTW - moved to our dream location and living our best lives. Getting ready to move to a nearby active Retirement Community where the same principals apply.)