Golden Years Through Comfortable Retirement Funds

Completely debt free, our net worth of over $1 million plus retirement pensions, social security checks, and various other income should continue to ensure comfortable retirement through our lifetime.

The average credit card debt per (US) household with credit card is $15,799 ( Paying interest alone on the credit balance is a major bite on the household budget. Numerous related articles on statistics and the long term and short term impact on household finances are just “Google” away. We, now almost 70, NEVER paid interest nor carrying charges on our credit cards for the last 45 years. If we do not have funds to pay for the purchase when the bill arrives, we defer purchase.

Nineteen years earlier, I took a very generous early (retirement) buyout at age fifty. We paid-off our house mortgage then invested every remaining penny. With our children (then) in colleges and living on campus, my wife, an RN took a part time job and I started an engineering consulting service. Both actions helped boost our savings while keeping our standard of living.

“Luck comes to those who are prepared” – Louis Pasteur. Again, there many articles written about luck. Here is a link I like: Earlier in life, I was lucky to be born to parents that believe in good education, attitude and work ethics. With this lucky break, my view of school is to learn, not just get a sheep skin. I earned a BS in Mechanical Engineering and Electrical Engineering at 21 and Engineering Masters by 25. As luck would bless me, my employer sent me and paid for my Executive MBA degree (that was 11 years prior to my early retirement). That MBA education prepared me to manage and grow my IRA to the tune of 14% ROR while the market is down as much as -17%.

It is NOT all work! We recharge our batteries by taking a two or three week travel abroad every year since 1994. Now completely retired, I am a Volunteer in Seeds For Literacy, helping adults earn their GED.

Buttom line – Persistent, consistent prudent savings and paying attention to our finances for the last 45 years is the reason for our financial security.

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