Possible for retired 70 yos to live off of social security and Medicare with little savings, ie 20k? Still paying off mortgage in lcol/mcol.

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Is it possible, yes. But it’s not going to be luxurious living

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Just live within your means. East rice and beans if you have to.

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I’m going to go with “no.” There’s a single rainy day hit that can’t be replenished. Recipe for disaster

Define “possible”.

If I were in that situation, I’d move to a cheap country and spend retirement there. You could live really well on that in a place like Cambodia, for instance.

Yes my grandmother has no savings no house and 13k annual SSI. She is 93 and healthy but she lives with my uncle and has zero autonomy. She never had friends and my grandpa died 9 years ago. She is quite religious and that really gives her strength.

She actually saves money by the way. She only buys minimal food ~$100-$150 a month and has a 86 Honda Accord. Has 27k just sitting in her checking.

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Additional Posts in FIRE Financial Independence Retire Early

Do you spread your investments in ETF products that track the same index? IE VOO and SPLG.

Was just thinking the other night if you drop it all (or a large part) in VOO and they have some unheard of scandal that somehow slipped by audit your path to FIRE could be hurting.

Am I overthinking here?

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I just discovered about Mega Backdoor today since my firm offers it. What’s the % or $K you put into it? Just want to gauge. Thinking of putting 10%.

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Have 3 401k and 1 ira account. Now have to consolidate all of them in vanguard. Any recommendations on how to move them
Looking for options to take advantage of rollover.

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Do people tend to age out of wanting to FIRE?

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But eventually you advance up the ladder, you are now the boss and your people do all the grunt work. You also have built up expertise which makes the job easier. And you are making the best money of your life. FIRE is no longer so pressing.

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I hit my FIRE number today at 50yo!!!! Had to tell somebody.

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Best way to forecast net worth/future growth?

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Am I doomed? I’m 36. Huge partier and spend $ like its going out of season. Make about $215k all in and have little savings. I just have terrible savings habits and just enjoy living for the moment.

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