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  1. #1

    How Many Sources Of Income Do You Have

    And What Are They?
    Dh and I aren't retired yet but we plan on having the following: the equity in our home, 401k, social security for both, a food stockpile, gardening and frugality skills and book royalties. Dh may decide to work part-time in retirement.

  2. #2
    At the present time I have a fulltime job. But when I retire (hopefully this coming July) I plan on having my current 14 year pension, a second 22 year pension, and the interest from several savings accounts. I don't want to pull my social security for about 6 months when I celebrate my 64th birthday. If the difference isn't much between 64 and 65 I will say "show me the money" and collect at 64. I also have a 403b and a rollover IRA but I am going to try and not touch them for another 5 or so years.
    So to answer your question I will have 3 sources of money that I will collect when I retire. And after several years I will add a couple more. I don't really want to work part time for at least 6 months, but I wouldn't mind having a little "fast cash" at some point. And I think it will do me good to get out and do something (besides volunteering and art classes etc.) to keep the "gray matter" working.
    I know the economy is tough right now but I'm sticking to my plan until March, when I will have to "give notice" and start the retirement process. Hopefully it will work out for me. I'm so ready!

  3. #3
    i have soc sec, a little interest and my husbands retirement. i also have some collectibles i need to put on ebay. our new home and new car are paid for.

  4. #4
    We are mortgage-free, but although it is an asset, our home isn't a source of income. (More a source of 'outflow' with taxes, utilities, maintenance!) We own a vacation rental property that has so far earned more than it costs by a small margin. Our RE assets are still worth more than what we paid for them, but I'm glad we don't need to sell them in this market!

  5. #5
    I never earned much, but my DH did OK. We have his social security plus mine, which is set at 50% of his. (I didn't know that was how it worked. I also didn't know that a *former* spouse could collect 50% of her DH's soc. sec. benefit if they had been married at least 10 years. A long-divorced cousin benefited from that law. I guess the government could be funding several women for a few much-married men!)

 

 

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