Financial security is relative to your situation. During my working years, I struggled to show financial security to the family with a modest home, cars, college funding, vacations, etc. We saved and invested with a goal of traveling in retirement, making up for all those staycations. Retirement started well, we spent two years traveling across the country. But in the year since my wife died, I have found that financial security is not a concern as much as learning to live as a single rather than a couple.
What I need to be financially secure would be: No debt, enough passive income (incl SS, wife’s pension, interest, etc) to cover all normal monthly household expenses. To be able to splurge on a new car or a vacation, or a new living room set if desired. I’ve worked for 55 years and retired when I turned 70. (Yes, I started working at age 15 in CT with a work permit. It was simple, no job meant no money). I’ve been officially retired for one year in August. So far, we haven’t had to touch our savings which aren’t “huge” but do put us in the top 15% of households in terms of total wealth. I never talk to anyone about our financial condition because most around me have far, far less and those who have more don’t really care. I love HD as I read about others mistakes and successes and what they learned. I too, have learned so much from HD writers & readers and most of all, Jonathan Clements! Even thought I “should be” comfortable being financially secure in a sense, I still worry about money and how we will be in the future. Growing up with nothing and having the State of Conn as my legal guardian, I have a tenacious desire to always save and never spend more than I earn. They say when you have a lifelong habit of always saving then it becomes difficult to flip the switch and start spending what you have saved. Very true for me. Anyway, this is my first comment on the new HD Forum. I continue to desire to learn from others. Thanks!
Not having to worry if we can afford anything that comes up.
Financial security is relative to your situation. During my working years, I struggled to show financial security to the family with a modest home, cars, college funding, vacations, etc. We saved and invested with a goal of traveling in retirement, making up for all those staycations. Retirement started well, we spent two years traveling across the country. But in the year since my wife died, I have found that financial security is not a concern as much as learning to live as a single rather than a couple.
A crystal ball but then where’s the fun in that 🙂
What I need to be financially secure would be: No debt, enough passive income (incl SS, wife’s pension, interest, etc) to cover all normal monthly household expenses. To be able to splurge on a new car or a vacation, or a new living room set if desired. I’ve worked for 55 years and retired when I turned 70. (Yes, I started working at age 15 in CT with a work permit. It was simple, no job meant no money). I’ve been officially retired for one year in August. So far, we haven’t had to touch our savings which aren’t “huge” but do put us in the top 15% of households in terms of total wealth. I never talk to anyone about our financial condition because most around me have far, far less and those who have more don’t really care. I love HD as I read about others mistakes and successes and what they learned. I too, have learned so much from HD writers & readers and most of all, Jonathan Clements! Even thought I “should be” comfortable being financially secure in a sense, I still worry about money and how we will be in the future. Growing up with nothing and having the State of Conn as my legal guardian, I have a tenacious desire to always save and never spend more than I earn. They say when you have a lifelong habit of always saving then it becomes difficult to flip the switch and start spending what you have saved. Very true for me. Anyway, this is my first comment on the new HD Forum. I continue to desire to learn from others. Thanks!
https://www.financialsamurai.com/once-you-have-f-you-money-its-hard-to-tell-others-to-f-off/