I’m retired and debt free. No pension. Social security is enough to live on if you live simply and stay out of debt.

I volunteer at the local food bank and I can say it is just heartbreaking to see elderly men coming in in tears because they have not eaten in a couple of days and drove to the food bank but don't have enough gas to make it back home. The volunteers got enough money together just to help with gas for this poor man and another volunteer saw him at the gas station filling up his tank after he left. This is where our society currently is at.

I will be exiting gracefully on my own terms before setting foot in a nursing home possibly staffed by angry, low paid workers.

Having worked in a nursing home for two years, I can tell you…. It would be better not to last that long !

We have to think outside the box to get to death.. I worry more about the children in the future. My Mom always said if you dont have the money just stay home. Can take walks and do cards and board games.

To me, one of the first things to prepare for retirement is personal health. It doesn't matter how rich you are if you are obese, have high blood pressure, diabetes 2, and all kind of diseases that are preventable with lifestyle. I don't get people at all when it comes to that. I'm 72 and take a walk every day, eat a whole food diet and know something about herbs. I have all my teeth but one I lost in my twenties. I am a little overweight but nothing to cause high blood pressure, etc. I've had two brothers die already that were close to my age, one younger. Another brother already had a heart attack but switched to eating healthy and getting some exercise finally. You can practically be a bum in a van and live on government land, but don't take care of your health and it doesn't matter how many millions you have.

I think the key is how do you want to live in retirement? Many lavish vacations? Out to dinner 5 times a week? Then you would need a lot more money. I think the most important key is to have a home that is paid for with reasonable taxes and all major things updated, a decent car paid for, no debt, and modest savings. This is what I did and I live very comfortably saving 2\3 of my monthly income.

The biggest expense I see in retirement is your health care. Seeing doctors and taking prescriptions cost most people hundreds if not thousands monthly. Yes, pay of debt and live within your means, but the best investment you can make is your health within a healthy lifestyle. Nothing else matters if you’re not healthy enough to enjoy it.

I am an immigrant.I came to the US in 1990. Everybody told me I would never catch up to American born people. But, just like you, I did whatever I had to, and now I’m sitting pretty. I watch your videos EVERY SINGLE DAY. We are good friends!! 🙂 and I also get trigger when people tell me I don’t understand the American struggle. No, I understand the immigrant struggle. And I conquered it. Regards from NJ.

As a retired person I absolutely agree with everything you said. I own my home, newish car, bought some new appliances etc and no debt. I receive a pension. My passive income comes from 2 flatmates-friends who are both working, they also pay their portion of electricity and internet. I also have some savings which I'm trying not to spend because I expect to live 15-20 years. However, the cost of living is increasing much faster than I anticipated! Property taxes up 9%, insurance up 30%, groceries up 50-80% over 3 years. It's hard to keep up with inflation and I think that's where many people will get caught out.

My cousin has made digs at me about having old used cars which she finds "unrealiable" (we fix ourselves never pay a mechanic). Yet here I am, mortgage free, car payment free, and there she is living with her parents with 3 kids, with two car payments. Make it make sense.

It is not so much the income, it is the monthly expenses you have that count most.

My home is paid for and in great shape. I live frugally and have lived on $1400 a month easily for years. 😊

Husband just turned 60 and will be retiring soon. We own our home and cars no debt . He said he is tired and for the past couple of yrs has been saving so he can quit and have a enough $ until he turns 62. The social security said he should get around $900 a month so that is the amount he will use until he turn 62. Based on our bills he should have $ xtra for him . I just turned 57 and planning on doing the same work until 60. We have our emergency $ plus more. We live simple

We have a paid-off house with no debt and my retirement pension and social security is about 2,500.00. My bills run me that, everything including gas and food. My husband works and his entire check is free and clear. We are blessed. A paid-off home and no car payments will change the retirement situation.

I want to say I did not have opportunity to work or save in Alaska. However I have retired. One of the things I have also done is take frugal tips to heart and among other tips I live on much less than I thought I ever could and your books make wonderful presents for everyone. Thank you for writing and making videos. I'm a changed person. I can't imagine paying for recreation when we can have fun doing things for free. Still fine tuning. God is good.

People seemed to forget that savings as well as pensions and SS taken all together can see you through comfortably in retirement. You are right about being debt and mortgage free. That is huge. Another thing is healthcare. Managing that is also key.

As a hospice nurse, I can say with certainty that most of our patients that have the need to be placed in a nursing home are completely unaware of their surroundings and could care less about having a diaper changed with someone next to them. By the time you reach a nursing home, you’re usually pretty sick or close to death.

I don’t go by a statistic. If my house is paid off and I can afford to keep the roof over my head and pay for all the stuff that goes with that including insurance. My roof will be redone, low maintenance renovations put into place. After that I will make sure I have my transportation needs are in the bank. After that I can pretty much live frugally. I don’t like to travel. I love to just cook & eat at home. I can get exercise outside in my yard. I really don’t need a survey to know how much I need to live on. It’s all common sense.

Pay off everything before retirement No morg no car payments Maybe sell you house and down size Do it when your mind is clear and you can make decisions bc someone else will (happened to my parents) Me : 1 yr retired at 55 (city pension nyc) I paid off everything and down sized yrs ago. Just living on $2,000 a month for 1 yr so far. Doing ok - I do have 400,000 in Ira and not touching it so far

We each have social security, 1 teacher's pension and 3 rentals. We are debt free with about a years worth emergency savings. Brand new house under warranty surrounded by family and younger friends. 3 older cars in good shape for 2 drivers. We live very frugally and are in our 70s. We live on half our retirement income.

You know who's retired and living his best life.. Rocky pants 😂

I’m 73. Until last year I was ok with my $2500 per month social security. That is because I lived within my means. Home paid for, car paid for, no debt. No credit cards. Small IRA. Then inflation roared on the scene. Now I am broke one week before I get my monthly allowance. If anything breaks it is dip into my IRA.

She is right . I had to retire at 63 due to illness. Luckily my house was in order and I had no debt. I was able to adjust to a lower living standard based on ss income. Was able to concentrate on getting well. So now 2 years later I am able to walk without crutches, my life is a lot better now than 2 years ago. It takes discipline.

I'm retired and I'll give you the secret. Be as close to debt free as you can possibly be.

I’m learning about things I didn’t consider as I approach retirement. Biggest surprise was that I’m paying taxes on my Social Security benefit, 12%. I should have known…death and taxes.

GOOD FOR YOU, exposing all the millionare LIES I left Florida for Brasil in debt $4000 but with a SS of 2600 Paid $300 a month for a furnised apto 100 feet from the ocean for 3 years In 2 years I saved enough to buy a nice 750 sq ft condo, a used car I now have enough in the bank to buy ANOTHER condo here Being a millionare to retire is a huge lie Those people are very IMMATURE, INSECURE and no matter what they have in the bank, will never make it.

I'm 43 and I work 2 jobs with a 3 year old daughter. All I can say is that I'm exhausted. I know everything is just way too high and a financial mess all around. I will not be surprised if I'm 80 years old and still working my butt off.😢

We are debt free and we have a bare bones budget while we wait for my disability to be approved. What I didn't think about was property taxes, home insurance and we "should" have flood insurance. That's about 6k a year! My husband is having a hard time tightening the belt, but I lived poor almost my entire life and can do just fine on rice, beans and whatever comes out of the garden. My advice - live in your projected retirement income NOW and see how you do. I still have side hustles donating plasma and Poshmark. It's not easy.

I laugh at people who make FAR more than I ever did, but have little to nothing in savings. They buy expensive houses, new cars, and eat out all the time, go on cruises and such. Many could be saving half or even more of what they get paid.

I live in Pennsylvania and I started to save at 20 years old, working full time and some overtime making a descent salary at a hospital with out a college degree - I am married…. I saved 500,000 dollars in a 401K which the employer matched 4% paid off my home and cars , put in new windows in our house before I retired and now still have 350,000 - 400,000 in the bank which is invested.. I retired at 62 and I am glad I did!

I want you to know I have taken your advice on quite a few of the things you have mentioned in your videos to do to save money. I got a butta, cancelled my cable tv and bought 2 Rokus, paid off my car loan,etc. Your advice was great and absolutely worked for me! Thank you!!

Be debt free before retiring.

If you keep your expenses as low as possible, then you don't need that much to fund your retirement - and even going part-time with your work is better than having to work full-time because time is the one currency we can't make more of. I love being able to spend my time doing my own little projects.

I wouldn't say you're not a pro financial advisor, you been doing this your whole life. You probably know more than half the people in that business.

Our story: 1400 sq. ft. house paid for. Property taxes keep going higher. Electric going higher. Food going higher. Surgeries. Husband's Medicare gap plan is $416 per month due to heart problems, diabetes, high blood pressure. No dental or vision insurance. After age 70 the teeth went to hell in a hand basket despite a lifetime of care. Thank heavens we saved for a long time. One thing done right: I bought a deferred annuity at age 40 and put in money each month. It will add some income in a few years to help out with the higher expenses. Thank you Prepper Princess for addressing this topic.

An Aussie! At an early age 6 or 7 years we had people from the bank talking to us about saving …… always saved even a little! Still do! No talk about investing and still don’t! Parents survived Great Depression very frugal chooks fruit trees and vegetables and paid for their house by retirement and bought their first new car! Very proud of them! Mum bought their first second hand car from cash made crocheting bed jackets! A piano too!

I believe the numbers are too high. Americans are not saving that kind of money……

Frugality is the New reality. Self-care is the New Health care. Eating home is the norm.

Beautiful and intelligent woman. ❤

If you have money, you can afford to pay the difference for a private room in your nursing home. Which literally means you have some privacy and dignity in the bed-pooping stage of your life. Without money, your roommate's bed will be close enough for you to reach out and touch from your bed. So poverty means having a rotation of poop buddies that are likely total strangers, and being sensorily aware when he or she is pooping, or needs other intimate care, in every imaginable way. A lack of privacy is a lack of dignity. The care rich people receive is not the same.

I removed all my grass and replaced it with wood chips and rock landscaping. You can get free mulch from tree trimmers.

I retired early age 57 in 2021 . I had worked at a job that I hated for a while because I thought that I couldn’t quit because of insurance .I finally had all I could take and quit. I am able to get market place insurance subsidy because my income is low.My house and car are paid off and I have no debt.My income comes from dividends and so far things are working out fine.

My military pension is 3,600 per month after taxes. I have no debt, so I still save and invest from that.

A common misconception is that someone will look up their social security benefit estimate and think that is the amount they will "clear". It is not. Taxes will be withheld. Also, once you hit medicare age at 65, you have to pay for "Part-B" ($175/mo in 2024).

We are within the numbers you use. Our needs are 22K to run our house. Tracking our income and spend for many years and it's amazing how little we actually need to run our household. We spend more on entertainment and travel than on keeping the lights on. No debt for many, many years. Everything paid for and yeah, it's stupid easy if you are not caught up in the consumerism that has taken over most peoples lives. And don't bash my car... hahah I have 361K on it and running strong. When it goes, I will get another one. No problem.

I retired on less than $1M... I'm quite comfortable...also in California.

Something we should all consider, this survey was pre pandemic and prices have skyrocketed for basics as well as many dipping into their savings to cover these raising costs. Who also knows if SS will be around when some of us retire. Great information in this video and hopefully for sure!

I haven't met one 90-yearold that is suitable of driving a car. Not because of dementia but because of that they are slow and tired. Their reaction is way to slow.

I forgot about JEPI. I hold it, and reinvest shares. TY My retirement technique is to keep my stay at home job, no commuting, fix up my final place, and just live the way I want.

I’ve been practicing as I get closer to retirement. I give my cat half a can of cat food and I eat the other half. If I get real desperate I eat the cat.

I get about 1900.00 a month on soc. I NEED about 500.00 a month to cover all my expenses. I have enough.

My mother died 2 years ago. My dad was still alive and married to her. He only has $30K in his account when she needed nursing care. He did not qualify for nursing care help. They said being married made it complicated and to get an elder attorney. If she was unmarried, and had no assets, she could have qualified for Medicaid, and then got assistance if there was room because she had memory care issues. She ended up going to hospice and dying before we could get her into a nursing home. But people shouldn’t count on that because if you own your home and you’re buried, they may make you sell everything you have to put your loved one in a nursing home. I was shocked by how the system works.

Medical insurance is my biggest expense. I wonder how you deal with that? One bad medical event can do a lot of damage.

hey don't know if this means anything, but your videos have been giving me a lot of hope. i got myself into debt by spending all my money and borrowing money i couldn't pay back. my credit is bad now. i thought it was over for me until i was recommended to your channel. thank you for all the advice, i know you are a millionaire but i just bought your book off amazon i hope all the money goes to you

Hi, can you please kindly make more weekly meal recipe videos for $30. I love those videos. I’m finding food/groceries is where I bleed the most living in Toronto, Canada.

Reality for me after my mom passes. Not meaning to sound harsh. I take care of my 82 yr.old mom. When that day does come I'll be living in a vehicle because I know I can not afford rent prices. I'm praying ill be able to get land in woods at least.

What ever happened to taking in the elderly instead of placing in a nursing home. The quality of life when I cared for my parents in our hone ,was unbelievable. They were 89 and 93. I have no regrets taking care of them. Families aren't willing to re arrange their lives to care for those who sacrificed so much. It's crazy

Live below your means, pay off debt and house. Then when you retire you will think you got a raise instead of lower income.

My in-laws lived below their means, saved money and were doing alright until one of them developed Parkinson’s, fell, hit her head, had brain bleeds and can no longer take care of any of her daily needs. Her husband’s health isn’t much better than her’s. Her insurance says she is not progressing in her rehabilitation so they won’t pay any longer. She had to transfer to a nursing home and is now self pay at $8300/month. A few years ago they rejected the idea of a MAP Trust which could have shielded some assets. Once their savings run out Medicaid will pay but will place a lien on their house and take it when they pass. Their entire life’s work gone to a nursing home and the government.

I am 61 my wife is 66 we both work and are happy and have plenty of money to live. Why is the goal retirement like it is a blue ribbon? I don't feel like we failed. We are happy. Work on your own terms it is it's own reward.

Love your channel and advice! I was a saver when I was in my 20’s but life and family depending on me for financial help most of my life and I’m now in my 60’s. It’s been very challenging but I’m determined to catch up over the next 5 years to just be able to live comfortably without struggling

It's all about your expenses in retirement. If you are generating $7000 per month in retirement, but your expenses are $8,000 per month, you will be in for a rude awakening. If you only have enough to generate $4,000 per month in retirement, but your expenses are $3,000 per month, you are in a much better position than in the former example. Yes, there are the unforeseen events as well, so a separate emergency fund is necessary as well. Also, there is nothing wrong with taking a part-time job on your own terms in order to keep the accounts "topped-off", although the "purists" will say that you are not truly "retired" if you have a part time job. So what? If you are doing something that keeps your mind and body engaged, has little to no stress and you enjoy it while generating some income, what is the downside?

By all means necessary, be debt free and have your home completely paid off well before retirement age so even if you have to work, you can work part time to meet monthly expenses.

I’m a nurse and super frugal so people think I’m weird that I don’t want a normal house. The way I want retire is by buying a manufactured home cash and live in it forever and take cruises. I’m only 35 but I think it’s smart of me

I have both friends and family, who just live for today. They don't have much at all saved, and now think What's The Point of starting now in mid 40s and 50s. I am starting to see so many think this, and they continue to just live month to month. I can't imagine how much worse it'll become over the next decade or two.

Consider moving to Europe We purchased a two bedroom condo in a newer building on the Black Sea for $22k You can "get by" on $400 a month. Two people live comfortably on $1000 a month Health insurance $25 a month, property tax $75 a year, electric is high at $60 a month.

Love this! My biggest worry for early retirement has always been medical insurance..

Inflation makes this more complicated....everything becomes unpredictable.

Rich vs poor in a nursing home get the same care the only difference is the rich person doesn't have to share a room.

I’m here for the pups at the end!, Thank you for the useful info, makes saving for retirement not as scary

I'm a year younger than you. I retired at 34 on 600k in dividend stocks with 3 rentals. Never going back to work.

As long as I am healthy I plan to work at least part time. A routine and purpose help

First year of retirement and the HVAC had to be replaced. Fortunately, I had $$$$ saved for such emergencies. The rest of this year has been financed by SS. No debt and so far so good.

It is not only possible to live on SS alone with no investments or savings but millions are actually doing it.

We are retired for 2 years now 64 and 66. Our parents lived on only SS for most of their retirement, barely $3000/mo. Both moms still alive at age 86, they both get about $2200 per month. It is quite tight, but they manage. The key is no debt. A paid off mortgage almost guarantees success even with a low SS check. Our combined checks will be over $6000 once I start mine. That covers our basic expenses. We also have a portfolio. If you don’t have a portfolio of more than$300k, don’t take your SS early unless dying soon. In today’s world $1400 is too low. Most people should wait till 65 when Medicare kicks in. Most people will get over $2500 from SS and can get up to $3500 or more, which is enough. If you have $1million and no mortgage, today you are fine to retire!

Well u r my most random person I like having advice from on KZfaq 😁So many people might not comment on here but r so very appreciative for what u have to say. Everyone has different life situations in finance and might not really know where to start or what to do cuz they r doing what they can just to survive now. So any ideas from u or someone who comments on here good or bad could help take away a little hope and guidance ❤and oh boy to be one of your dogs and not have a care in the world is a blessing 🙏🏻Enjoyed watching.

Hubby is 76 and I am 69. Recently had to close our 50 year print shop. No income there anymore. Only have SS checks. We are debt free and and still cannot live off social security.l

If you retire you should have everything you need (home, cars, tools, etc) and you have no debt, you can live like a King on almost nothing.

I wanted to retire right when I got out of College but they said it was too soon!

My parents paid off their house and are fine... but it is like Amber says... you still have to be ready for things to break. 2.5 months ago dad fell down the stairs and broke a couple bones... he is better now... but things like bars beside the toilet and extra shower bars and a new longer shower seat and a railing by his bed so he can stand up safely....that was the cheap stuff... then there is the new chair lift being installed so it never happens again. There stairs go straight up and down... when I phoned on a price it was $3100 to $4500 just for the lift. We are in Canada... so no medical bill for the 2 month long hospital stay. He had 1 perscription change that probably cost him $15 with his coverage. There were lots of hospital visits with hospital parking fees and taking dad stuff... for sure on the cheap end .... well over $4k... the ambulance ride was included in his coverage. I can't even imagine how much this would have cost in the USA.

If it were "impossible to retire" without having multiple millions as suze orman claims, then almost no one would be retired. Living the lifestyle to which orman is accustomed requires 10's of millions, but that does not apply to 99.999% of the population. She is completely out of touch, and really is more of an entertainer than a financial "expert".

Find a trustworthy senior to share expenses and you can both live cheaply

I retired at 60 on my deceased husband SS. Started drawing on my lifetime annuity at 66. Most of my annuity goes straight to savings.

bills are always going up for retired people but their income is not going up.

I don’t get the whole vacation addiction among my peers: seniors. They worry about money yet HAVE to take that lavish vacation every year. I’d rather stay home and be content. 🤷🏻

Im going to work, in some capacity, until I'm dead or close to it. I had an Aunt that worked until she was 80 and was forced out of her position, she didn't want to quit! Then she died from covid 3 years later😢. So, if I live 'till 80, I hope I can work that long!

I've done the same thing I still got my lunch money from the third grade

At age 75, I have to keep working (self-employed, debt-free) to pay for living costs (because up here in Canada we don't necessarily get as high a monthly gov't pension as they do in U.S). The problem is the incompetent governments' deficits and overspending which means that the value of the dollar has gone way down. So everything costs more. The last time I bought an airplane ticket was 1985. (Agree with everything you said, but have to keep working). Cheers.

Keep making more suggested dividend investment videos or how we could possibly look at this. One ting that your mentioned that most people to don't think about is the repair cost for their existing home. Even if the home is paid off. Do you have all major maintenance taken care of for the next 15 years like a leaky pipes, roof replacement, and secured insulation for the walls. Nice that you reviewed that you most people to need that incredible dollar amount in their savings. Thanks for all of your great thoughts and share this out.

One of your best videos! Thank you for demonstrating this…I feel validated I’m doing the right things with my money.

I’m 58 and likely will be forced to retire after my job phases out next year. Was way too conservative in investing so of course I’m not able to retire. I spent way too much time trying to time the market and researching individual stocks all for nothing. It seems that every market pullback or crash and I mean every one to date has been a major buying opportunity since we are close to all time highs in the market. Means I could have just kept plowing money into an index fund and tried to just live life. My advice is to put things on auto pilot and keep investing no matter what.

I didn't even finish listening to your KZfaq and I can tell you hit the nail on the head describing how to calculate what you'll need to retire.

Yes. All these things is how I have been planning my life , my future and my retirement since the 60s.

I like laddering CDs now that they have a decent return. Thanks Prepper Princess for posting this. I’m learning so much from you about dividend stocks!

How many people over 65 are still working at least part time nowadays ?

You have always done good deeds Without seeking recognition or repayment. You will always be OK. We love you.

I would highly advise against trying to retire on the bare minimum. You never know what life throws at you. Especially with medical expenses down the line. There’s no such thing as having too much money so I would definitely caution people to lean on the side of having excess savings (a lot of excess) than the bare minimum.

I think people are struggling, but many people don’t know how to live within their means. They simply think that they deserve something based on something. Delay gratification and live within your means.

No everyone ends their days in a nursing home. Many become ill with a life ending disease & die at home, with assistance from the local authority. Both our mother & my one auntie both died of heart attacks in their sleep, in houses they owned.