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New challenge

July 19th, 2011 at 02:00 pm

I'm going to "play retirement" for the next month. Austere retirement.

I really need to get a handle on what my variable spending limits need to be in the future when I am dependent on social security and my 403b. My worst-case scenario planning indicates that I might have only $300 to spend monthly on food, clothing, transportation, etc. after I've paid my housing/utilities/insurance/medical. That's pretty low, but I think I could do it if I had to. A brief look at last month's spending indicates that I spent about $482 in all those areas, and I'll bet if I really try I can cut way down.

I have a conference coming up, and I won't count those expenses (they will be reimbursed anyway).

But everything else -- the clock starts now. 30 days.

4 Responses to “New challenge”

  1. Miz Pat Says:

    You are bravely facing what so many won't even look at. I hope to hear how you do and wish you the best.

  2. Petunia 100 Says:

    That sounds like a really useful "experiment". I will be intersted in reading about how it goes. Good luck to you!

  3. creditcardfree Says:

    Sounds like a great idea! Let us know how it goes.

  4. retire@50 Says:

    I did that for several months before I retired and decided I was in good shape, and then after I retired I realized I could easily live on even less than I planned for.

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