Future Saved

If we squirrel away $360k in the next twenty years (that’s $1,500 a month) and we include our existing savings with our estimated Social Security we’ll have $3,500 a month to live on for twenty years. I cannot be bothered to project what interest could be earned on the principal. Right now we spend about $1,680 on living expenses; I am including phone, TV and internet, as well as housing, food, heat and electricity.

The good news is we’ll be 70 in twenty years and it’s unlikely we’ll last much longer than 10 years beyond that, if we’re lucky. If we’re only going to live until we’re 80, we’ll have $5,164 a month to live on. I’m hoping that will compensate for inflation. I didn’t include the 25% reduction in Social Security benefits effective when we’re 75 in 2037. It shouldn’t impact us overly much.

I am so glad I drank and smoked like a fiend when I was younger thereby reducing my life expectancy. Yet one more instance when I inadvertently did the right thing. The trick is going to be staying healthy enough to spend all the money, we haven’t saved yet, before we die.

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About elroyjones

Married, no children, responsibly self-directed, living happily.
This entry was posted in Human Condition and tagged , , , . Bookmark the permalink.

18 Responses to Future Saved

  1. Ran out of fingers about half-way through this one, took my socks off, then ran out of toes. My head is swimming. Trying hard, but I still don’t know for sure if you’re talking about people years or doggie years. And are doggie years 84 months long? I think I’ll just take a nap.

  2. gkinnard says:

    Let’s hope the Mayans are right and we won’t have to give a rat’s behind about retirement.

    • elroyjones says:

      I have to be absolutely certain the end is nigh because I have a plan-
      spending all the savings,
      buying the diamond encrusted tiara,
      indulging myself.

      Unfortunately there isn’t much I want but I am going to work hard at this project and leave in a mad frenzy of rampant consumerism!

  3. judithatwood says:

    You are so far out of my league, all I can say is good luck!

    • elroyjones says:

      Oh Judith, I don’t think I’m so far out of your league at all. It may not seem like it from the outside but we live very simply. I don’t know where in hell I would find a spare $1500 a month to save. As my husband is fond of saying, “How much more of nothing can we do?”
      We work seven days a week just to maintain the existence we have and to keep the people who rely on us working. I don’t know how we’ll ever maintain this pace.

  4. Eeewww… you didn’t tell me there would be math… you know I can’t do math…

  5. doubt ill ever be able to retire……………..but as long as i own the roof over my head when im too old for formal employment i will survive……..all the financial planning frauds get richer off your savings that you do…..to hell with em all………..yeah the finacial world is all smoke and mirrors ….ill just live whilst im alive and die when the time comes……….

    • elroyjones says:

      The financial system is a world-wide catastrophe. I’m not sure what the future will hold for us so I do what I can with what we have and try not to waste anything, which isn’t different from what I’ve ever done. We will be working until we die- I’ll be damn mad if we die at work!

      • the problem is if the dollar collapses….which i think is a real possibility as its artificially proped up ….more debt to pay of debt…..how could people get so greedy and stupid to begin with?…………its just obvious that if you continually spend more that you earn (produce) its gonna catch up with you……if the dollar collapses the whole world is bankrupt and global war is the likely outcome……and they (who ever “they” may be) dont give a shit who starves and who doesnt…..scary shit………….im continually expanding my veggie garden and other self sufficiency skills and knowledge …i am very rescourcesful….
        WASTE NOT WANT NOT………….

  6. elroyjones says:

    I don’t know why people want more than they can use. It perplexes me that “they” don’t realize that power and glory are meaningless because there is an end for everyone- all of us will die eventually.

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