Fixed Income
Food for thought...........
I've never understood the expression "retirees are on fixed incomes". Sure they draw an established amount from SS and if fortunate to have worked for a company with pension benefits they draw an established amount from that pension. And yes those drawing SS benefits usually get an annual COLA increase. And those retirees (59 1/2+) who have annuities, IRAs, 401ks, or some other type savings or investment usually can draw out any amount they choose at anytime they choose.
I don't get it. Aren't those who are employed and paid a "salary" as opposed to being paid hourly, commission, additional jobs, etc. also on fixed incomes? I know I am. Because I am not 59 1/2, I do not have the luxury of withdrawing from 401k, IRAs, and annuities, etc. I get paid a set annual salary and my paycheck is the same week in and week out. That is what I call "fixed income", especially when raises are scarce and percent is minimal.
I agree those not retired (and even some who are) have the advantage wherein they can get a better paying job, a part-time job, a 2nd job, etc. if they choose to do so. This means, their incomes could be flexible, not fixed.
For me, I consider myself on a fixed income while I am working and not so fixed when I retire.
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