New around here? Register your SA Forums Account here!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
 
  • Post
  • Reply
Pcmaker
Feb 11, 2025
Let's say your house is paid off in full, and you have money set aside for ALL your bills. Your property taxes, insurance, internet, electric, etc... is covered. And you have $5k set aside as an emergency fund.

You are left with about $3k a month to spend on food and disposable income, as everything else is covered. That'll be about $100 per day for you to spend.

Will you be happy with this much money? That $100 has to cover your food and to keep you entertained.

Adbot
ADBOT LOVES YOU

Pcmaker
Feb 11, 2025

Three Olives posted:

"Your property taxes, insurance, internet, electric, etc... is covered."

How exactly does that work? That is not how retirement works at all, there is no way to know what your base level living expenses will be.

Also $5k is a laughable emergency fund, like twice that should be a bare minimum.

It's covered by your retirement. Let's say you get $5000 a month and you use $2000 to do cover all those bills, and you're left with $3000.

  • 1
  • 2
  • 3
  • 4
  • 5
  • Post
  • Reply