Facing "Real" Retirement -- and Scared

OneEyedDiva said:
Final average salary. @Nemo2
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Never would have gotten that. Thanks, Diva.

So getting back to your post:
OneEyedDiva said:
Due to my personal set of circumstances, I was able to live comfortably on my (reduced) pension and never felt I was depriving myself of anything. I mentioned in another thread that I read in Money magazine a couple of decades ago about people who were living well off less than the recommended 75% of FAS.
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I would say DH & I would do ok on less than 75% of our Final Annual Salary, because before we (semi) retired we hadn't quite finished paying off our mortgage. So that expense was gone, as were commuting costs, frequent lunches out, work clothing and other incidentals. I'd guess a lot of retirees live well on less than 75% of their last salary.

Is that what the article was getting at?
 
Retirement for those who have had enough of the alarm clock, the routine, the commute and for many, the same old, same old, being freed of all that must seem like the promised land. What puts me off retiring is the loss of social interaction, I do so enjoy the company of work colleagues and customers alike. Work also gives me a identity and purpose, it fills my day like no other and although I can manage on our pensions the extra income makes financial security that bit stronger for the one left when the grim reaper knocks on the door.
 
StarSong said:
Never would have gotten that. Thanks, Diva.

So getting back to your post:

I would say DH & I would do ok on less than 75% of our Final Annual Salary, because before we (semi) retired we hadn't quite finished paying off our mortgage. So that expense was gone, as were commuting costs, frequent lunches out, work clothing and other incidentals. I'd guess a lot of retirees live well on less than 75% of their last salary.

Is that what the article was getting at?
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You're welcome, of course. Actually, now that I think about it Star, I should have left out the word "average"...and just used final salary again as I did at the beginning of that post. Like I mentioned, the article was a couple of decades ago so I don't remember particulars; they featured a few people who told how they managed on their retirement income. But I'm sure it mentioned the reductions in spending that take place when one no longer has work expenses, such as those you pointed out. I imagine there are similar articles that can be found online now. @Nemo2
 
Geez...we don't know how we ever found the time to work. Honestly, the hour fly by. It may take you a bit of time to get used to it, but we don't spend any where near the money we did when we worked. Our desires are much different now that we have the time to "enjoy when things are good". After all, time is the most precious of commodities, don't you think ?
 
Liberty said:
Geez...we don't know how we ever found the time to work. Honestly, the hour fly by. It may take you a bit of time to get used to it, but we don't spend any where near the money we did when we worked. Our desires are much different now that we have the time to "enjoy when things are good". After all, time is the most precious of commodities, don't you think ?
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Ditto this!
 


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