Independence and Retirement

  • Being that the 4th of July is mid-week it would be easy to talk about our country's independence or your financial independence. But you already know how I feel about both subjects. That I want everyone to be free - both in terms of personal political freedom and in your finances. That's why we offer the daily newsletter Financial Independence. I really believe that a financially free person is also more free personally.

     

    Instead let me point you to a fascinating article that might surprise you. It comes from NextAvenue.org - a website from PBS. The article is "The Surprising Truth About How People Spend in Retirement". Here's an excerpt:

     

    "Banerjee tracked changes in non-housing assets during the first two decades of retirement for people who retired with $200,000 or less in assets; those who retired with $200,000 to $500,000 in assets and those who retired with more than $500,000 in assets.

     

    "After 19 to 20 years of retirement, Banerjee said, retirees who started with the most assets had only spent about 12 percent of them. The other two groups spent just 24 to 27 percent of their assets during that period. That's not much. And about a third of retirees had more assets after 18 years than when they first retired.

     

    "But not all retirees are faring so well. In fact, more than a third (35 percent) of retirees who started with $200,000 or less in assets had less than 20 percent of their assets left after 18 years of retirement, EBRI found."

     

    That tells me that if you retire with $200k in assets (not including your home) that you fare much better than someone who retires with less. And I guess that's no surprise. But it also tells me that if you have less than that you need to get started on fixing that today.

     

    Whether you like it or not, your future depends on what you do now. Now is the time to visit the TDS Library section Guide to Earning More Money and find a way to bring in more income that works for you.

     

    One final thought, hope that your BBQ is a wonderful affair. Full of good fun and BBQ flavor!

     

    Keep on Stretching Those Dollars!
    Gary


Get Out of Debt

Stay Connected with TDS
Little Luxuries
Subscribe

to any newsletter and get a copy of our ebook Little Luxuries: 130 Ways to Live Better...For Less for FREE!



The Dollar Stretcher
Dollar Stretcher Parents
Dollar Stretcher Tips
The Computer Lady

Your Email:


View the TDS Privacy Policy.