I am reminded of the show The Millionaire which was on many years ago, the first show portraying "lottery fever".
Wow a million bucks was an amazing amount of money back then.
But one million dollars generates only $40K income per year at a 4% draw.
So you could be a millionaire...and not be living the dream 60's tv portrayed
Today, if your lifestyle approaches or exceeds six figures annually, you need $2 million...and not in land value either.
Which is where most of us have put our hard earned money.
My next door neighbor lives/tries to live on an 800 dollar SS check each month.
Maybe I didn't make it to $2M, for sure..., but I'm counting my blessings each day. But then I was a saver, no kids. IRA's since the very beginning.
I was taught early it was impolite to talk about money and for sure you never asked what someone made nor told them what you made.
So we didn't learn much until much later on...after those credit cards were maxxed, all of them. I did it, most of us have, until we learn that credit cards are like drugs, you better get off them quickly.
A lot of what you need to retire has to do with the cost of your housing. If we own big properties with big taxes, and big utilities, and big mortgages, well keep working.
Luckily those of us who earn our livings from the soil usually love what you do so working is not such a big deal vs someone who has been cooped up in a cubicle for 40 years. Particularly if one is leaving the family farm(s) to the next generation. More a matter of slowing down than retiring, and that's good.
The trick is to retire before one's health tanks, not because of it.
Just waiting for it to get light out enough to get to work. Nice the daylight starts a little earlier each day. yeah.
