Avoid Running Out of Money in Retirement With These 10 Tips

[@7Eggbert]

I just put in my two week notice at work and will start my retirement soon. For me, debt free is key!

[@Binatasj]

Congrats! I’m putting my notice this Tuesday. I’m debating whether to give 2 weeks or 1 month.

[@nonamehawg7068]

I don't need life insurance. I am debt free and single.

[@brucesmith9144]

Joined the Big R club last week.

[@nonamehawg7068]

@brucesmith9144 Enjoy, sir!! I am quite sure you have earned it. Don't allow the slaves to make you feel quilts. 🫡

[@brucesmith9144]

@@nonamehawg7068 thanks.

[@KathyAndrew]

I have been self employed since I was 25, and am 72 now. Amazing what a difference it makes when you have to manage your own business compared to just depositing your check weekly. Have not bought a new vehicle since '88, and had my house paid off for 43 years,

[@user-yb5bg8im5g]

i here ya. 66 now. worked as a development director straight outta college. 4 years in i relized i disliked, politics, ties, and chicen dinners. became a house cleaning landscaper... 35 years on and have a paid for house and prepping to move to 100acres off grid in tn. can't wait.

[@clbcl5]

I just keep track of my money. 10 minutes every saturday morning I add up all accounts. I see how it changes week to week.

[@cherylcampbell7495]

Believe me a long term insurance policy is so important . Start one in your 50’s. I don’t want to be a burden to my daughter. I’m 75 and just started with back spinal stenosis which the elderly suffer with. Hunched over with a walker. Not me, exercise.

[@jamescalifornia2964]

_" Your true wealth, is your health ! "_ ~ Jack LaLanne _" I spent most of my money on fine dining, good booze and wild women. The rest I just wasted ... "_ ~ W.C. Fields

[@kkybaggy]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $400K across markets but don't know where to start.

[@ktube2020]

it's been a brisk tailwind for lnvestors in US stocks over the decades but it's a delicate season now, hence i advice you the guidance of a financiaI advisor

[@stillrising1999]

I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.

[@c.t.u.o]

I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you

[@stillrising1999]

NICOLE DESIREE SIMON is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@ktbfh]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@nubicep65]

I had to medically retire at 56. Started Ssdi at 56.5. I unfortunately divorced 10 yrs earlier. At that time I knew it was just me/my income and nobody gonna take care of me. My grown kids have their own life. 1/2 of my 401k gone. I clamped down on my expenses. An inheritance from my parents I spent on a home. Because of not keeping with the jones. I entered early retirement debt free. 3.5 yrs into retirement I’m 59. And still making it only on Ssdi.

[@jamescalifornia2964]

Take care of your health . 👍

[@user-yb5bg8im5g]

well done! ...and started with the fuzzy end of the lollipop, to boot!

[@FincaBelleVue]

We are 47 & 49, we have been saving, being frugal, but still traveled to 47+ countries. We have enjoyed life. We plan to retire in six years. We could retire now, leave the USA, travel the rest of the world, and pay for an international health insurance. We are a little scared about not having a true home base. Maybe with a little more courage and planning we can pull the trigger sooner. Thank you for your videos. They really do help and inspire us to save and plan more.

[@randyfrommesaarizona6927]

Watch as many heath videos as you do money videos, you’ll spend less on medical and live longer in a healthy way.

[@gerrysanterre6317]

Great content.I was going to retire at 65 but sat down and just 8 months more of work and 8 more months before collecting Social security.Will put me in excellent financial shape.True sit down and spend the time,it will make a big difference.

[@michaelschiemer3]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@Rachadrian]

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

[@Jamesbrown1126]

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@CindyValenti]

@@Jamesbrown1126 this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

[@jonathanmccarthy6126]

Move to a low cost location. I moved to Ecuador two years ago when I was 50. Paying $575/mo. to rent a nice house, no car expense don't need one here, low cost health insurance. Moving here made retiring at 50 a possibility for me. Many here living on social security alone and they have a nice quality of life. Not for everyone but for many I can see first hand why it is a great option. Moving from Chicago and growing up in west Michigan I do not miss the winter either:)

[@INTERNETVID]

'Not for everyone...' Why? Is the recent cartel-related violence in their port cities a consideration?

[@jonathanmccarthy6126]

@@INTERNETVIDNot really, not for those of us that live in the Andes it's not at all. The obvious reasons...not everyone would want to move out of the USA, far from family, learn a new language, new culture, etc.

[@suzanneemerson2625]

Congratulations! Sounds like you made a great move for you!!!

[@user-oj3ip3qi9y]

Pacific coast Mexico for us in 12 months. Beachfront condo there and another in Myrtle Beach, SC.

[@bryanmoorefield8890]

And I’m 67 and debt free

[@livinforlessinsingapore3601]

Great video. Don’t spend as you used to is probably the most important point I gleaned. In retirement it is very easy to live “smaller”. Down size most things. Reduce mortgage, loans, no more work related expenses, no children expenses etc. Be more circumspect. Will a cruise really make ME happy? Do I really want to eat in a restaurant 7 times a week? Perhaps some simple homemade meals might be better in the long run. Health wise etc. Don’t just follow the crowd. Jewels, car, boat, holiday home etc etc. same,same. Examine its value for YOU. So, living “thoughtfully” will likely reduce retirement expenses significantly for each of us and we will avoid running out of money.

[@IP0Monsturd]

Boiling down your long post. Just be a tightwad.

[@minoozolala]

@@IP0MonsturdYou really missed the point of that short post.

[@stephendibari5010]

my current plan is to retire at the end of December 2027 or 2028 and to be debt-free except for my mortgage

[@markthomas2436]

Don't buy a boat. Don't buy a plane. Don't go into business with somebody.

[@20thcenturyrelic]

And don't buy a franchise.

[@michaelmcinnis911]

And don't buy a camper!

[@suzanneemerson2625]

And don’t buy a timeshare.

[@Shadow-7773]

Don't get married or have a girl friend.

[@20thcenturyrelic]

@@Shadow-7773Or a boy friend.

[@denisep.98]

Excellent content!

[@dipaknadkarni62]

Great tips. Keep them coming.

[@topplacetoLive]

Securing financial stability in retirement is crucial. These tips provide valuable insights for effective retirement planning.

[@handdeeabroad]

I’ve watched your channel for several years and THIS VIDEO is by far one of the best. Sharing it with at least 10-20 folks. Keep up the great advice!

[@HolySchmidt]

Thanks very much!

[@RafetMert-qs3kw]

An idea for a video would be dividend payers where you analyze large maturing cash cow companies like Google and PayPal that seem to be in the position of starting to payout growing dividends soon. I’m new in investing and still doing my research.

[@jimmyamico4713]

BRILLIANT GEOFF!❤

[@bethiciaprasek1008]

Thank you for all your advice. I don't like to deal with finances/money (and am 60) so I just recently started by downloading my checking account activity to an Excel spreadsheet to get started. Also getting better at requesting reimbursement from work for career related expenses. I know I spend too much on entertainment even without looking at spreadsheet, but my most common entertainment is visiting a restaurant which keeps me connected with employees and guests, encourages me to study (either towards certifications or just KZbin videos like this), and just creates a break between work and home. Encourages walking or going to gym on the way when weather cooperates (less than a mile away). My spending even more happens in the Winter because I have a difficult time eating during Standard Time (and Cedar allergies) so justify that expense of eating out more than during the rest of the year. I will keep doing baby steps such as making sure I know where all my retirement funds are...my next significant step. With job changes and different investments, I know I do not have a clear picture. When I listen to you I get motivated to do at least one more thing. So just listening to you (even on things I already know) helps me to move forward. Much appreciated.

[@stevenharris6626]

The most important issue for me was that I wished I had start saving earlier. I would have placed my savings into places where I would earn much more money!!! Thanks for your great videos!!

[@marybrown8905]

Thanks. Seems I’m doing ok, I’ve learned from you and made good choices. Will retire in the fall .

[@kahvac]

I like the new notes intro !

[@dgriffin6074]

I recall reading that Sir John Templeton, who grew up poor, vowed to save 50% of what he earned. For a time he had a lean existence, but he was a billionaire when he died and was knighted along the way. Personal discipline is a difficult virtue to adopt

[@thatguyoverthere8355]

Lots of rich tight-wads in cemeteries 😂

[@bryanmoorefield8890]

I strictly only take the income my portfolio yields each month. I never touch principal,so if market goes up or down I still get the same income. My advisor says take from the I not from the P and live a life stress free. Lot of truth to that. Works for me😊

[@reneesoli5345]

If you take a hit in the market you will receive less money, unless you up the amount of interest taken.

[@suzanneemerson2625]

I love this channel. I am so frustrated that I have recommended it to so many people who I know really need it, but they don’t want to watch. I have announced to them that they should never come to me for financial help when they run out of money, as they surely will. I will not give them any. Fair warning, but it makes me sad. Thank you, Mr. Schmitt, for the great work you are doing. I have benefitted so much. Just can’t make those horses drink.

[@user-yb5bg8im5g]

horse to water...if u get my drift.

[@tsteur]

Working in WA state forced me into getting a Long Term Care policy in my early 40s to opt out of the WA Cares Act...not something I was expecting to think about, but sliver linings...I have a policy now that will offset those costs if I need them later in life or will be a death benefit for my spouse/kids

[@nineseven420empire3]

Don't waste money on consumer crap.........

[@jayandriot6454]

The biggest factor for me is debt free. It is very easy to save with no mortgage and zero personal or school debt.

[@jimfarmer7811]

I disagree on your comments on insurance. Once the kids left the house I dropped my life insurance and invested the money. I now have plenty to cover death expenses.

[@christopherhaak9824]

Correct, other than car, house, umbrella and so on, which protects you against a catastrophic loss, the others are not necessary. If you have assets, why do you need life insurance? Also, if your health is so bad that you need long term care insurance, that is simply a play to save assets for inheritance for dependants. Those both make no sense. Save the premiums and invest them, or live off them

[@FordF250Tremor]

Waited till 70 and wow what a good decision!

[@miketheyunggod2534]

Enjoy your five years.

[@robp9746]

You worked your best years away.

[@spivackl]

​@robp9746 You’re SUPPOSED to work in your "best" years. The goal of one's life should not be becoming unproductive. Retirement is for when you're too old to be productive. If you hate your job that much I feel sorry for you. But I love mine. And I love being productive.

[@georgeahacker]

I retired at 59. I have absolutely no regrets. I'm continuing to learn new things, see places I haven't seen before, and have a clear calendar to enjoy my grandchildren when they are available. Working until you are about to fall apart is for suckers.

[@robp9746]

​@spivackl There's much more to life than working a JOB. I can think of a million productive things to do without working a job. I did my 40 years, it's now time to enjoy.

[@ruslanas4532]

Great video, thank you for taking the time to get into details. Especially loved the point that life and financial planning does not end at retirement. All your videos are very helpful

[@namastemcl]

We bought Long Term care insurance in our late 50s…one of the best pieces of financial advice we ever received.

[@M22Research]

Long term care and insurance - it’s so expensive that many folks self-insure, for example, using their home’s value.

[@semosancus5506]

That is my plan.

[@2023Red]

Question on income method for seniors. What do you think of “Tips Laddering?”

[@lynnew6959]

This is important info for all of us. The more I watch you the more I realize I have a lot to learn. Hubby and I are retired and haven’t touched 401k but I know we will be required to in a few short years! I just want to make good decisions on this retirement journey.

[@kmng3207]

I need to wait until 70-72 Im 61 will be 62 this year.. last year I got LTC.. paying off my home as fast as possible.. building a healthier savings account…. Roth/SEP.. My mom is 92 lessons, learned from watching her age. She was forced enough to marry a man that left her with quite a healthy back up. Thankfully, she has care in her home. Additionally, the stress of my sister taking care of her before she got home care. I didn’t start making money until about five years ago when the business did better. Catching up is hard to do. Paying off our consumer debt has been my saving grace. Putting away as much as I can to get my home paid off is stressful however, it won’t be hanging over my head when I am finally able to retire. Thank you Jeff I share your videos with my family as well .

[@suzanneemerson2625]

I’d be hesitant to pay off a mortgage if the interest rate is lower than what I could earn on a low cost index fund. Sometimes arbitrage is nice - earns you a bit of money every month.

[@williamshaneblyth]

in my country you get it at 65 onwards you dont get a choice. you just get less or more dependingif u retire or continue to work and earn a little or alot based on tax basically.

[@hjahansouz]

I look forward to your presentations. Thank you so much! That 80% rule never made sense to me. It’s a good rule but doesn’t apply to everyone.

[@jeroldpaquette9068]

That 80% rule NEVER. Made sense to me. I planned such that work with 95% more than when I was fully employed. It is wonderful and I expect that income level to. Continue aftermy demise and and my spouse Principal Beneficiary) need not use principal and she can be a heroine and leave it to the kids and grandkids and certain named siblings in certain conservative percentages.

[@glensmith491]

Any rule like that is simply a rule of thumb (ROT). ROTs are only useful to get a working estimate for a starting point, a quick and dirty sanity check to discover if it is worthwhile to do a more detailed analysis, and/or a tool for a 20 to 50 year olds to quickly figure out what they need to successfully finance the old guy they'll become sooner than they think.

[@5metoo]

How does one know how large of an umbrella policy to get?

[@nfunk9005]

Our insurance agent told us that the insurance company ( a big one) doesn’t sell LT care insurance anymore. Regret not buying it years ago. But always thought that it was a rip off and a gamble. None of my older family members had it, and they did fine. But I wonder now if I made the right decision after all.

[@suzanneemerson2625]

It is SO risky. Companies going bankrupt today after collecting premiums from customers for decades because they did not plan correctly for how long people would live, and how much the cost of healthcare would increase. If you had bought it long ago, all the money you put in would be wasted, gone, or the cost of your premiums would have risen to 20 times the original amount, making it crazy-costly, and you would have had to, like most people did, drop the coverage because it got too expensive. Very few companies even offer it anymore. Those that do have clauses in the contracts allowing them to raise their monthly premiums by huge amounts on very short notice. It quickly becomes unaffordable. Best to save and invest for self-coverage, and then hope you don’t need it. Turns out you did the right thing by not buying, although no one back then knew what was going to happen in the future. Don’t regret not buying it. You would have lost all the money you paid in premiums when the insurance company went broke and couldn’t pay any claims, and canceled your contract because they were bankrupt. Sorry this is long.

[@richardc488]

I took it at 62 with a 40K pension and SS brought me another 30K, since we lived below our means over the years (48k) I have more income retired so I just live like I lived before and SAVE every month and we have traveled so much in 2023 (5 major trips overseas) we are tired and will slow down for 2024! Oh I do have a 401K (substantial) which earned over 42% last year and all my kids save early and at least 10% of their income.

[@DLTJR1959]

We took SS at . We have a state pension and debt free. Life is good. We are not promised tomorrow. We winter in Florida and have an Alaskan Cruise and European trip planned this year. We have the money and are more than blessed.

[@suzanneemerson2625]

Yes, you are blessed, but you also did a great job planning. Take a little credit for doing that well!

[@Savannah-ed4rv]

I'm on disability at 63 for the past 10 years. Have mortgage and other debt and financial adviser told me not to pay off my debt t with my husband's life insurance money. Horrible advice and now I am struggling. It will be a miracle if I have positive cash flow at any time in the rest of my retirement! My advice is don't get into debt in the first place and certainly don't end up sick or disables in any way Unfortunately we can't control those things.

[@july77773]

Can I tax the IRS for income they received from my taxes?

[@user-gr4zv3pd8k]

I am 6 years until retirement I am 6 years until retirement. My wife will have a modest government pension, but just found out that if I die that she will not receive any spousal Social Security benefit because of the government offset provision, which by the way is complete and utter bs. I understand why she will not receive social security, but it is insane that she cannot receive the spousal benefit for me paying into Social Security my entire life. It's basically a penalty for public service. We are working hard to set aside as much as possible and get a life insurance policy for me that will pay out to replace the lost Social Security as income. That's proving to be problematic because I was just diagnosed with a rare form of leukemia that isn't going to kill me, but will make it nearly impossible to get additional life insurance . Our goal is to be debt-free in 6 years but in order to do that I'm going to have to take on some extra work over the next 5 years. I will need to make an extra 10,000 per year to accomplish our goal. If anybody has suggestions for easy and flexible side gigs, I would be interested in hearing about them

[@deanc2000]

Can you recommend a good company for long term care insurance?

[@july77773]

Wow. It's very expensive.

[@suzanneemerson2625]

No, they’re all extremely expensive and risky. Can go bankrupt any time, and leave you with no benefits at all after all the premiums you have paid. You lose ALL your money. Self-insure.

[@user-mh3kp7we7i]

i didn't work enough in the usa to get the miminum credits for social security...I've worked abroad most of my life...w/no ss. So i can't get any ss....suggestions? Very good video btw. Thankyou.

[@minoozolala]

You of course get the pension the country you worked in pays out when you retire.

[@user-mh3kp7we7i]

@@minoozolala small fraction of what I would get usa

[@whatsup3270]

SUGGESTION Please consider a video on compounded loses in both forms 1) withdraws, and 2)market drops. It is very counter initiative that the market could average 8% in the first 12 years of retirement while a retiree could draw 7% during that time and lose most if not all their retirement funds. Which is because they compounded the loses and thus exceeded the market growth. hint: allow 1-2 down years in the first 3-4 years of retirement.

[@SpookyEng1]

You are describing sequence of returns risk.

[@whatsup3270]

@@SpookyEng1 There is actually a lot more to it, it is not confined to one issue. For example take $100 and use three returns +25%, +25%, and minus (-)50% in all three orders (sequence of returns) and look at what you get. You dont get what logic says you will. After you do that do this with $100: +25%, +25%, (-)36% did you get what you thought you should? ( that is a problem with moving bases not compounding ) For compounding redo the last example with 7% withdraw (thus +25% is now) +18%, (thus +25% is now) +18%, and (-36% is now) -43%. Did that come out like we would estimate, +25%+25% sounds awful good, and sounds way larger than the 36% drop but was it? Personal comment : Like many others I thought the 4% rules was total (censored) however now I am getting where I have to live with my decision, and thus I had to hunker down on the math and it is a real eye opener.

[@whatsup3270]

@@SpookyEng1 No, there is more to it, sequence of returns is different a problem of bases. Compounding loses is different. And they are combined.

[@tomschmidt381]

My wife and I are in our mid-70s, still pretty heathy. Most years we are able to live comfortably on my RMD and our combined SS. We have been mortgage free for years but property taxes are pretty high here in NH. To reduce our overall tax burden and prevent surviving spouse shock I transfer a chunk of money to my Roth every year. Small enough so it does not cause too much of our SS benefits to become taxable but large enough to stabilize RMDs We built our house in 1982 and have completed and planned several repair/upgrade projects. Hope to be able to complete these as DIY projects before we become too decrepit.

[@nyr1940rip1]

What are your thoughts on the government going to $800 for every $1000 in 2034 for social security benefits? Can they do this?

[@clintonjay8476]

Great content 👍🏻 You work for 40 yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months sometimes less and now they are multi millionaires. I pray that anyone who reads this will be successful in life

[@clintonjay8476]

Thanks to my co-worker who suggested Mrs Susan Jane Christy.

[@Garyscott599]

Who's that supposed to be?

[@Garyscott599]

I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?

[@clintonjay8476]

She's a financial consultant & licensed broker in the states🇺🇸

[@clintonjay8476]

She's helped countless individuals globally transform their financial situations.

[@QuaaludeCharlie]

I Retired at 36 due to Injury , Living 0n $11.000 a Year is not a Picnic :( QC

[@conniesmith3837]

Wow most of your commenters are doing good. It's like your preaching to the choir. I'm not one of them. I'm in trouble. I'm a poor Millionaire. Parent past, can't afford both houses. I'm scared I'll loss both. I'm lost.

[@HolySchmidt]

It’s probably best for you to consider speaking with a qualified “fee only” financial planner to discuss your best course of action.

[@michaelfortney7510]

One of the biggest challenges I see is letting your health deteriorate by lack of exercise or sleep , poor diet etc. Then all that money means nothing because their bodies are so abused they can’t enjoy themselves.

[@briankowald6465]

How about life insurance in retirement? No longer working, but insure against loss of social security income?

[@sactopyrshep]

Why do you think you will lose SS income?

[@suzanneemerson2625]

Perhaps he wants to insure against his wife’s loss of his Social Security income when he dies?

[@michaelsteven1090]

In retirement?..at 64, I'm going broke just trying to get there

[@willisgoodger1875]

Same here. 401 is a bust.

[@thatguyoverthere8355]

Sad, I've been working 41 yrs and at 59 no end in sight.

[@michaelsteven1090]

@@thatguyoverthere8355 my plan was to finish at 63 but the plandemic has wacked everyones retirement..now it looks like 65 for me..hang in there. Youve still got a few more good years to get ahead.

[@user-ty2uz4gb7v]

You don't have to say "let me explain", you can just explain.

[@M22Research]

529 Plans - caution, more and more schools, as part of the Financial Aid process will simply take your 529 money and ask for more. 529’s are great tax savings tools for very wealthy folks who know they will be paying full boat for their kids’ college. Not some schools provide assistance for families with up to $200K income (Ivies), but be careful about 529’s if you have more modest income.

[@christopherhaak9824]

It works great if you have one for your grandkids. Then it's not an asset for them, but you can still use it to help them. And now, if they don't use it, they can roll it over into a Roth IRA.

[@M22Research]

@@christopherhaak9824 1) Not if the school requires you report all assets with the student named as beneficiary. 2) $35K limit on the Roth conversion from a 529.

[@GSXSF-250]

Make lots of friends but do not get into a relationship. The relationship will drain your retirement account.

[@johncipolletti5611]

Here is the formula for retirement: Have a good pension or $500,000 in the bank. Don't depend solely on Social Security or Medicare. Have all big debts paid off. That includes mortgage, car payment, large credit card debt. Have good medical insurance. Keep your taste moderate in purchases. Use your IRA carefully.

[@BuzzRetirementGarage]

I retired on $100k. Lot's say I'm in trouble. Say la vie.

[@galex5060]

I am 63 and officially retired at 57. I am getting more and more ruthless with my money each year. I track every single cent, every single day and it takes little time. I also question every purchase, not because I don't have the money, but because I value it more than ever and don't waste it on frivolous purchases. You come to realise how much you don't need in your life. I am also in the process of getting a new part time job which will be 20 hours per week for 20 weeks of the year. It pays really well and along with the interest from my savings accounts, I will not eat into any of my retirement capital. It's at my university where I studied 40 years ago and feels like a fitting bookend. Also, being debt free is a corner stone of having a successful, fulfilling and happy retirement. Remember, you know you're rich when you know you have enough! Don't be too greedy folks, you can't take it with you! :)

[@patriciabee4690]

Can you share how you are tracking? Is this with a spreadsheet or a purchased software? I ask because I want to start doing this myself.

[@rabokarabekian409]

In the U$A, research this topic: 8 Best Human Grade Dog Food Brands.

[@miketracy9256]

Those whom we know who began SS at 62 now regret it. Those of us who waited until 70 are very glad that we did. Some of us at age 77 are still working, and that may increase our SS even more than the COLAs. Following a reasonable budget for the past 50 years is why we now have financial security. Learning more about our taxes is necessary for us all. The 80% income rule makes little sense, as some live very frugal lives and can get along fine on 50%. What is critical is to be debt-free in a home that costs less than 10% of your total income.

[@jerrylockhart3069]

What if you’re taking your kids into retirement? Because they are disabled? They maybe can work part time jobs. You can’t rely on Social Security SSID to pay for everything. What happens if they want their own place that’s not gonna be easy. They’re going to have to stay with you.😮❤😮🤔🙈

[@thatguyoverthere8355]

Working 41 yrs and at 59, no end in sight. Got to keep grinding so the 62 early-outers can get their bloated SS checks. Should get what you actually contributed, somehow it is much more. Thanx boomers!

[@INTERNETVID]

When you eventually file, are you going to add up all of your lifetime contributions, and then insist that the SS Administration not exceed what you put in, so that your checks aren't 'bloated'? Yeah, I thought so. Btw, you do know that at age 59 today, you essentially qualify as a boomer... right?

[@SpookyEng1]

What percentage of your income have you saved over 41 years?

[@robinsutton577]

I've heard about people like you who blame others for your problems. I'm a boomer and you are welcome! I also put in my 40 years and retired just fine at 60.

[@thatguyoverthere8355]

@@robinsutton577 Yay! It's all about you!

[@heidikamrath1951]

I will only receive a fraction of what I contributed to SS. That’s why I have invested on my own, outside of SS.

[@lcee6592]

One thing that has/is/will influence drawing social security early is the total reckless spending and totalitarian actions against our freedoms. An unpredictable government along with over 33 Trillion in national debt is one of the worst things for financial stability in any country. People fear they better collect whatever they can while they can. Tomorrow it might get cut off!