Advice From the Frog

 

 Jeremiah was a bullfrog 

Was a good friend of mine

I never understood a single word he said

But I helped him a drink his wine

And he always had some mighty fine wine...

Advice From The Frog

Depending upon your age right now, the odds are that by the time you reach retirement age, Social Security will still be available but will be substantially reduced.  Neither the Republicans or Democrats will remove Social Security from the budget so that they can get re-elected but, they will cut back on what is made available.

Currently, the average monthly check from Social Security it $1.500 a month.  If you have 20-30 more years to work, that means you are about 40 years old and the experts are saying that over the next 20-30 years the average Social Security check will reduce down to between $1,000-$1,200 per month.

Today's BABY BOOMERS will be the last generation who can use Social Security to pay all their monthly expenses...  of course, that too depends on where you are living.  In East TN, a couple can live fairly well on $3,500/month providing neither of them are in any debt.

You cannot live on $3,500/month in Atlanta for instance...  at least not well...  that is to say, you could live in a trailer park for that amount of money but you couldn't go out to dinner each week, nor could you spend a couple of weeks at Myrtle Beach.

I am talking about a farily good quality of life.  Living in a $300,000 home, going on week long vacation 3-4 times a week, going out to dinner twice a week, and not worrying about having anough money to pay one's monthly bills without having to go into savings.

Speaking of savings...  this is the only way to survive in retirement...  to save as much as you can while working and making sure all your debt is paid off.  Spend money, but spend it frugally not foolishly.  If you don't need it don't but it.  If you need it, spend the money to make sure you are buying quality so it will last.

Most people are not planning for their future and one day the will wake up sometime int he future and tell themselve they made a mistake but it will be too late...  which means...   THIS CHOICE IS YOURS...