I am a nanny in my late 50's. I am retired from my "civilian" job, live in a paid off house and we have paid off cars. I nanny for fun and for pocket change. I won't do more than 20 hours a week. I burn out if I work more than that. And if I am burnt out, I am cranky. And if I am cranky, I am not a good nanny. Nobody wants that. Not me, not the kids, not the parents. So I live frugally but happily.