Is $100 a day enough for you to retire on?

[F1980]

I'm in a union and I've been going over my monthly pension.

My house is paid off and after all the bills are paid, I am left with about $100 per day to spend on food and disposable income.

That doesn't include social security but I am coming up on being able to retire through my union pension.

I am not sure if $100 a day would cover my spending comfortably.

 

[Sweater of AV]

If you're male and single and need more than $100 a day to spend on food etc then there's something wrong.

 

[subtlySteve]

I'm in a union and I've been going over my monthly pension.

My house is paid off and after all the bills are paid, I am left with about $100 per day to spend on food and disposable income.

That doesn't include social security but I am coming up on being able to retire through my union pension.

I am not sure if $100 a day would cover my spending comfortably.

As always, it's best to consult a financial advisor or accountant for this kind of advice, rather than relying on opinions from a bunch of knuckle-draggers (myself included) on an MMA forum.

(Refer to the first comment for a prime example of the need for this caveat.)

$100 a day equals $36,500 a year.

It's feasible, especially with your house paid off, but personal spending habits and lifestyle will be the deciding factors.

Don’t forget to account for inflation, emergencies, and healthcare costs.

 

[PG29 red0 Jr]

$100 a day after all bills are paid sounds like a reasonable amount.

It all depends on the person, and what they plan to do in retirement.

 

[ColemanwastheGOAT]

How much do you have in savings?

 

[Kowboy On Sherdog]

Yeah. If you don't plan on eating out 3 times a day for your remaining days...

 

[ObsoleteSoul]

Guess it depends on the person, but I easily could. Just depends on what you like to do with your time. If you are a homebody who cooks your own food, it is easily doable.

 

[jx820]

Today a reasonable food budget for a single male for a month is about $400. Leaving you about $2600 for expendable income.

$36,500 a year for food, and expendable income is fine today. Just try not to live too long.

 

[shunyata]

Yeah. If you don't plan on eating out 3 times a day for your remaining days...

Better learn to cook.

 

[Kowboy On Sherdog]

Better learn to cook.

Air Fryer / Sams Club

 

[Other]

Guess it depends on the person, but I easily could. Just depends on what you like to do with your time. If you are a homebody who cooks your own food, it is easily doable.

This.

Live below your means and don't eat out as much and it's easy.

Just quick tip from a frugal sherbro: I take $250 cash for 2 weeks. That's after I buy groceries. I typically cook most all my meals. If I stop somewhere for coffee, food, etc. I use cash from that $250. Whatever is left from $250 after two weeks goes into my giant jar. That jar has funded so many hobbies, projects, and fun.
Also carrying cash means I don't have tip on an ipad that gets turned around to me.

$500 a month for walk around money from roughly $3000 a month is cake.

I'm also single, no kids. So my overhead for just me is low.

 

[Other]

Air Fryer / Sams Club

I had air fyer falafel last night!

 

[Fedorgasm]

Eat on $16 per day. Invest the other $84 per day. That way you're staying ahead of inflation and giving yourself a raise.

 

[LEWIS540]

It’s fine in theory.

But when you need to fix a broken roof, or take a trip abroad or buy a new car, it fucks up your plans.

 

[ObsoleteSoul]

This.

Live below your means and don't eat out as much and it's easy.

Just quick tip from a frugal sherbro: I take $250 cash for 2 weeks. That's after I buy groceries. I typically cook most all my meals. If I stop somewhere for coffee, food, etc. I use cash from that $250. Whatever is left from $250 after two weeks goes into my giant jar. That jar has funded so many hobbies, projects, and fun.
Also carrying cash means I don't have tip on an ipad that gets turned around to me.

$500 a month for walk around money from roughly $3000 a month is cake.

I'm also single, no kids. So my overhead for just me is low.

Kids shouldn't be in the equation if we are talking retiring lol. They should be able to manage themselves by then. Hopefully... Though he might be retiring young, and might still have dependents. That changes things.

That is a good little strategy you got there. Kudos

 

[shunyata]

Air Fryer / Sams Club

Pellet Smoker / Costco.

Brisket and pork ribs are some of the cheapest meats by the pound.

 

[Other]

Kids shouldn't be in the equation if we are talking retiring lol. They should be able to manage themselves by then. Hopefully... Though he might be retiring young, and might still have dependents. That changes things.

That is a good little strategy you got there. Kudos

Also a potential for having kids late in life.

I'm retired at 41 with my only debt being a mortgage. My way won't make anyone wealthy by any means. But for me, it's more than enough.

 

[Cole train]

Easily

 

[RoastBeast]

Guess it depends on what your hobbies are, if you like to travel etc.

Obviously you can eat on $100 a day but hopefully there's more to retirement than paying bills and eating.

 

[lsa]

Yeah. If you don't plan on eating out 3 times a day for your remaining days...

I could eat
I feel a little peckish