zakariahzol saidAny of you guys in this category . How about sharing some tip with me?
I retired at 45 in 1994, possible after 25 years of service in the US military, and do not work. My pension as a Colonel is modest, but I have other sources of income, plus living with a partner who's retired on his own income lowers the cost of living for both of us. Sharing expenses is a real money saver.
We also have no debt whatsoever. You're wise to be trying for the same thing, because debt mean interest charges that rob your income.
We pay everything cash, and in fact don't even have credit cards, just debit cards for convenience. Our 2008 car was paid cash, my 2008 Vespa cash, my camper trailer cash, etc. The house is ours and about the only recurring bills we have are for property taxes, utilities and insurance.
As a result, more of our income is disposable to use as we wish. And though not very great, it's still really too much for us to spend it all, since our needs are fairly simple, enabling us to donate considerable amounts to charities for HIV/AIDS and GLBT causes, including political campaigns. Our one expensive vice is eating out, which we do far too often, and which doesn't help our attempts to lose weight.
I have no interest in working ever again, but I do volunteer for some of the non-profits that we support financially. It keeps me busy, but on my terms. Just 2 weeks ago an agency tried to pay me for several days work coming up, and I refused. I'm a volunteer, I reminded them, and not getting into servitude again. And please don't deny me the personal pleasure of donating my time to a worthy cause. To pay me would be almost insulting; pay someone who really needs the money.
But, for retired persons with less money, temporary and part-time employment can help make ends meet. And those kinds of jobs are often easier to find quickly, and incur no long-term commitments, so you can walk away when you no longer need the money. Lots of retired people in the US do that, working shorter hours than in their previous career, doing it as needed.