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Facing an Uncertain Financial Future
How to thrive on limited income and savings in retirement
If you have a million dollars or more in retirement savings and/or a pension in addition to your Social Security check, the current uncertainty may not create as much stress as it does for people like me.
Before going any further, let me define the phrase “people like me.” When I discuss “people like me” I am referring to those in or very near retirement with the median savings of $200,000, more or less and the median household income of $54,710. I use this because when my wife and I began our retirement journey, this described us very well.
Twelve months ago, I was feeling pretty positive about my future. My wife and I had made some financial changes that really paid off. Plus, we were able to benefit from the crazy real estate market of 2021 through 2023. In fact, in November 2023, we quickly sold the 588-square-foot, one-bedroom house we purchased in 2021 at a small profit.
The results of the changes we have made since 2021, combined with my Medicare insurance business and writing on Medium, have allowed us to live a great retirement while significantly increasing our savings. And that was despite the medical challenges that we have been dealing with.
