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December 29, 2010


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Cindi anderson

You changed your view of money after you retired (from a renewable resource to a unit of exchange) but that had nothing to do with being retired. That's just when the change happened for you.

I'm still working, and have always thought of money as a unit of exchange. Just because I had a big paycheck never meant I could spend it freely. I always considered what else I could do with the money, traded off the value of other things I could do with the same amount of money, including saving it and being able to retire early. I have always work as trading money for freedom.

So in the ways you say there is definitely is a difference between the actual experience of “working in retirement” and working before retirement", they may be true for you but not be for everyone.

Don't get me wrong, I'm sure having the bank balance start going down every year must feel different than having it go up every year. But that's a different issue that you discussed.

Jacq @ Single Mom Rich Mom

I'm with Cindi - I've seen money as a unit of exchange for a long time, but that's because I haven't lived according to my income for quite some time - and still don't. I gave myself a total expenses budget (one paycheque) for those years and everything became an exchange. Those $100 boots - or a day or two of retirement? I looked at everything I spent that way.

Something like house cleaners I see as a non-committed, variable and not fixed expense, so easily dropped if necessary. I don't know that I'd consider that something that was under your definition of renewable resource. That implies something you're locked into, like a condo.

Retired Syd

@Cindy: Well certainly money is always really a unit of exchange. And you are right, retirement is when that shift in my view occurred as my employer was no longer renewing that resource.

What's interesting to me is that it didn't shift back when I picked up the extra income. The difference is the freedom, not the money. I didn't have that freedom before I retired because I couldn't have afforded to live without that renewable resource. Now I can, and I don't want to jeopardize that by inflating my lifestyle.


My husband and I are learning this same thing in so many lessons over this past year. Hopefully he or I or both will be back at within a few months. Being retired has changed us completely. We are on a budget and never really followed one all the days we were working toward retirement. But finding our income wasn't enough has made us wonder what we did with all our money before and now when we go back to work we have a clear picture and determination not to go back to how we used our money before. Being on a set income and knowing that bit of money is it each month changes your thinking for sure.

Bob Lowry

My wife and I have always seen money as a tool to accomplish something, just like the unit of exchange you refer to. Our spending habits were always conservative even when I was doing quite well as a consultant. We kept our focus on what was important to us: never living beyond our means so we were always free from day-to-day worry.

That approach has continued through a decade of retirement. I have had a seasonal, part time job for the past 4 years that generates enough for extras and splurges, but is completely unnecessary to our daily life. If it goes away (like it mostly did last year due to the economy) it doesn't really matter. That is the sense of freedom that is so important to us, and you.


Syd, as long as you don't overly exceed what you budget for, you can do whatever you like. If you budget for a luxury vacation, you won't have to cut back on something else to compensate for it.

Also, I build into my budget a cushion, or surplus, which can be used to cover unforeseen expenses. Not huge expenses such as buying a car, but smaller stuff which can arise at any time. Therefore, my choices are to use part of the surplus to buy the items or to reinvest it as opposed to a more difficult choice of buying Item A or Item B.

This has always been my mindset, including the bigger choices I made in the last 10 years while I was still working - twice reducing my hours and forgo a lot of my budget surplus in exchange for added daily freedom. I also have what I think of as a "slush fund" I use for larger expenses in case something arises which can bust my monthly cash flow.

I still consider my monthly dividends as a renewable resource the same way I considered my biweekly paycheck as a renewable resource. But the dividends are nicer because I don't have to haul myself to work (expecially after the blizzard we had here in New York) any more to get them!


When I had a steady paycheck, I did not think about if I bought this I had to give up that. I lived on a budget that could be exceeded because I had a paycheck coming.
According to my friends I am frugal, but I have everything I want and I don’t spend the money just because I have it. If I want it I buy it, but I love finding bargains.
Now that I am retired I don’t exceed my budget, and yes I have a “slush fund” but that is part of the budget. I’m 48 and people always ask me how do I do it and my come back is I’m not living large but I’m living. According to my worksheet I can live comfortably until 95 years old. Next year I am planning a trip to Costa Rica for a month; therefore, I will work a couple of part-time jobs if something I like is available just in case I live to 100 years old.

Pastor Larry

Money wasn't the issue when I retired because of good planning 30 years before my income doubled when I retired.
My issue was what will I do in retirement?

For me that was becoming involved as a volunteer in things that give me joy by doing them.


I hope I'm not too far off topic here, but I honestly want to help.

Some of us over 50 are not so lucky that we have a large enough income to retire in comfort so some of us are wanting to create another income for ourselves and have decided to use the internet for this purpose. However, most beginners will find out very quickly that you can spend a fortune just trying to get a website up and running. This is where I come in. I'm volunteering to help beginners save a lot of time and money. Read below, it's self-explanatory...

I am volunteering to help. Nothing more, nothing less. I am not selling anything, and I am not offering anyone a job. If you are thinking about starting an income generating site on the net (product, services, or non-profit), but have no idea where to start, I can help.

I totally understand what its like trying to start a business with no income. Its darn near impossible, I know, I tried it. But that was 7 years ago. I have learned so much over the last 7 years that I know with my help you can build your own website and start your business for almost nothing.
If you would like to learn more go to my blog (I just launched it the other day)…

Make sure you read all 4 pages (and don't worry each page is very short). Of course there is the "Home" page, then there is the "About" page followed by the "My Rules" page, and ending with the "Things You Need" page.

See ya soon,


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