Reply to Anyone transition from big pay/big house/big expense to a low cost, simple, yet fulfilling retirement life?

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[quote=Anonymous][quote=Anonymous]I kept my same lifestyle (ie, home, car). Like most of my friends, however,  have found that I spend less in retirement. Of course, you are no longer contributing to your retirement savings, you pay less tax, you aren’t supporting children, your home may be paid off. No need for professional clothes, less gas.

I do spend more on travel…but I am not home buying groceries or using utilities when I am away. Just keep this in mind. (Have good health insurance…since those costs are likely to go up over time). [/quote]

About two years ago I realized once you factored out the mortgage, I was saving more money for retirement than I spend to live. Maxing the 401k and other automatic monthly investments were adding up to more than my monthly cost of living sans mortgage. Which means when I retire and have no mortgage, maintaining my current lifestyle will be a breeze and I'll have additional surplus income that I won't know what to do with. At least let's hope it ends up that way.

Regarding travel, I've noticed in the last few years that daily COL in the US has increased so much, making daily travel expenses overseas affordable by comparison. Travel has become much cheaper relative to incomes and other COL necessities compared to 20 or 30 years ago. [/quote]

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