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How to know if you have enough to retire

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    #16
    Originally posted by disneysteve View Post
    It amazes me that the pharmacies on every corner and the bank branches on every corner all have enough business to survive. I rarely go into a bank. I don't understand what so many people are using the physical branches for when so much business is electronic today.
    I know a surprising number of professional people (I'm not one) who still deal mainly in cash. They write lots of checks and visit their local bank frequently. These are mostly folks that are over 50. The branches obviously do enough buisness to continue to operate.
    "Those who can't remember the past are condemmed to repeat it".- George Santayana.

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      #17
      Originally posted by GREENBACK View Post
      I know a surprising number of professional people (I'm not one) who still deal mainly in cash..
      I can understand business owners needing a physical branch because of the need to deposit cash on a daily basis but for everyone else, what are they doing? Between ATMs, direct deposit, debit cards, credit cards, online/mobile banking, and more, who needs a teller?
      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.

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        #18
        Originally posted by disneysteve View Post
        I can understand business owners needing a physical branch because of the need to deposit cash on a daily basis but for everyone else, what are they doing? Between ATMs, direct deposit, debit cards, credit cards, online/mobile banking, and more, who needs a teller?
        I agree. The last time I was in a branch was probably two years ago for a refi.
        "Those who can't remember the past are condemmed to repeat it".- George Santayana.

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          #19
          Originally posted by GREENBACK View Post
          I agree. The last time I was in a branch was probably two years ago for a refi.
          To be honest, I go to the branch once a month and it is a pain in the butt, but I don't have a choice. I get a monthly check from a company I do work for and something about the way the checks are printed doesn't permit depositing them at an ATM or with the mobile app on my phone. I can only deposit them at a live teller. I've complained to the company but they haven't changed them.
          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.

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            #20
            It can make retirement feasible if you move somewhere cheaper.
            LivingAlmostLarge Blog

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              #21
              And fifth, consider a lower standard of living in retirement.
              Why should you lower your lifestyle upon retiring? If you're saving for retirement, you're lowering your lifestyle now, aren't you? Why shouldn't the goal be to maintain that already-lowered lifestyle when you retire?

              I have an idea! Let's spend everything we make, so we can retire on social security with a lowered lifestyle. I always liked sitting on the porch eating ramen noodles and drinking tap water. <--- Yes, that is sarcasm you're reading there.

              I plan to increase my lifestyle spending my retirement money, and still maintaining most of the principle. That's why I'm saving it. Strike that. That's why I'm investing it.

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