What we do (Edited to Read...20 years ago - see msg Posted: Jan 15th, 2020 - 10:13 am In Reply to: Need advice from anyone who has retired early for Social Security - and how you manage
I had to quit MT when I was 62 because of the stress. I started collecting SS Retirement benefit at that time. I'm 64 now. Hubby is 68, but loves his job, so he still wants to work. He started collecting when he was 62 as well. His paycheck is kind of play money.
He started an annuity about 20 years ago, and we're also drawing on that which comes to $300 a month. When he retires, we'll need to dip into our savings, which we started 45 years ago.
So, we started saving and managing our money way back when. I couldn't imagine doing it any other way.
We did not suffer, but we also did not go crazy. Nobody needs a $700 phone, so that's one way to "save" money. We wanted a hot tub, but decided that money should go towards the future. It really adds up. Before we knew it, we were quite comfortable. Our total yearly income was about average with other people, but managing is the way to go. As the one poster said, if you are young, start early! A lot of it is simply using your brain and doing without a few luxuries.
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