Why a 20th Century Lifestyle Might Be the Only Way to Retire
In this article: The "lifestyle tax" that's making it harder to retire Why seemingly small costs are adding up to more than you think How your childhood may have trained you for a lower cost lifestyle How turning back the clock can save you money – now and into the future How much it takes to retire My husband just retired after teaching 6th graders for 42 years. Congratulations, Jon! We're retiring on his pension and an IRA I contributed to for almost 15 years. Plus about $350 per month I'm getting from Social Security, which is what happens when you teach for two years homeschool your kids conduct church choirs become a freelance classical singer work as a bookkeeper for a non-profit organization tutor adult English language-learners at a community college Small income, small benefits. Today, we're being told we need between $1 and $2 million to retire comfortably. And maybe that's true if we keep living like middle-class people do now. But here...