4. "Depends on where you live and cost of living" In response to Reply # 0
You said no properties so I assume you rent. I would change that an see if I can get a mortgage I can pay off by the time I retire (or give enough up front so it won't be a onerous responsibility)
Does your job match 401k's? If so id match the percentage and make sure it's going in there.
Your goal is savings/minimizing your cost of living when you turn 70, id focus on that.
6. "it's not clear how much $$ he will need to supplement his ss benefits" In response to Reply # 0
but i would definitely confront the possibility that i may need to work for the rest of my life possibly go to school NOW for something where i could maximize my pay and fasho move somewhere cheaper with weather & activities that i can live with
9. "RE: 59 Years Old & never made over $60K / Yr. in Lifetime" In response to Reply # 0
This gentleman is like most American, he is one illness away from a trouble. Seriously, that is not much to live on but it's a start and I think the fact that he wants to work has two primary benefits:
1. slight constant flow of income 2. Working will keep him healthy(depending on the physical demand)
Since you're over 50, you can pretax your income($18,000-20,000)toward your retirement to "catch up." For instance if you make $55, 000 minus 20.000 you will file take on 35, 000.
Someone recommended buying a property which will help and some municipality will assist first time home buyer, down payment with matching funds, renovation grants and loans.
it sound like you're frugal and you have an outlook of your situation. Good luck!
Everyone is crying out for peace, yes None is crying out for justice Everyone is crying out for peace, yes None is crying out for justice
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