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Reply to "What happens to people who saved nothing for retirement?"
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[quote=Anonymous]It's not difficult to live cheaply if you have no mortgage. And live in a low cost place, which mainly means lower property taxes. People who are used to higher incomes have no idea how to live simply because they can't imagine a simple life. But if you never had much money, you don't build up the expectations for a nicer lifer and the costs that come with it. A fixed income retiree used to be a standard outcome for most retired people. It meant living simply on a budget. You didn't travel to Europe or pretty much anywhere other than to visit family, and maybe if you were lucky, a week at a lake or beach. You didn't go to shows and performances. You ate simple meals, you socialized with family and friends, your days were spent watching TV or reading or gardening if you had a modest property, or a little hobby. You're not spending money on commuting or clothes for the office or lunches out. The time passed quickly enough. Then you died. [/quote]
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