Talk of The Villages Florida - View Single Post - Income poll - Yearly Income?
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Old 09-09-2010, 09:52 AM
rhsgypsylady rhsgypsylady is offline
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Default 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.