My mom is 77 and lives just fine on SS and investment income - no pension. In fact, since selling her house last year and moving to an apartment, her savings are actually growing. By selling the house, she dropped her monthly expenses by about $700 (taxes, utilties, maintenance, etc.) and her rent and electric at the apartment is less than that. Plus, the proceeds from selling the house are invested (conservatively - CDs and MMA) and generating income. So she has a positive cash flow and an increasing net worth. Not bad for a 77 year old.
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Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
Last edited by disneysteve : 05-30-2008 at 11:46 AM.
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