Working versus Not Working in Retirement -Feedback

by Jeaunice
(maryland)

Hi Baby Boomers/Retiree's,

I held off retiring until my job was eliminated out from under me. I was tired at 66 but had friends who were still gainfully emplyed into their late 70's.I still had a young adult to launch, a disabled husband and a house note.

I discovered that my 401k nest egg that my employer helped me create had been getting raided by fees in good times (bull markets) and bad (recessions, crashes, inflation).

I also learned that original Medicare had a deductible but no dental, vision, hearing, drug coverage. That would have to be paid for separately after A & B were withdrawn pre-check disbursement.

I talked to several financial advisors, including the ones managing my existing 401k. I went to RMD, Tax , Trust, SSC maximizing seminars. I interviewed several fiduciary financial advisors, including those managing the 401k from when I worked.

They informed me that my nest egg was too small for them to continue managing since it would run out on its current trajectory in under 10 years.

So now into retirement, I know everyone doesn't get to retire/stop working. It depends on having a job sufficient enought to live and save almost equally throughout ones working years while investing without Any significant drops in the market and excessive fees.

What I learned opened my eyes. I'm sure I'm not alone. Cashflow options suggested to me run from becoming an Expatriot to becoming a resident assistent in a nursing facility/apartment complex/college to minimize housing costs.

What tips or tricks have others tried to maximize their cashlow/mimmize their expenses?

I love my family and friends and want to stay here.

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