BWhite
Metrowest,Ma
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I hear this being said quite often . What does it mean ? I feel that people are complaining that they are poor ?
My neighbor recently retired as a Super of a school district . Her "fixed income " will be 80% of $148,000 ($118,400) per year for the rest of her life .
She is "living on a fixed income ."
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Veronica
Virginia
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I'd be happy to live on a fixed income like that.
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msmith1199
Central, CA
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BWhite wrote:I hear this being said quite often . What does it mean ? I feel that people are complaining that they are poor ?
My neighbor recently retired as a Super of a school district . Her "fixed income " will be 80% of $148,000 ($118,400) per year for the rest of her life .
She is "living on a fixed income ."
Lets say she does not get cost of living raises on that fixed income. In 25 years will her $118,400 per year still be what it's worth today? That is what is meant by fixed income. However, most fixed incomes aren't really fixed because they usually have a cost of living factor built in. But, the cost of living often does not keep up with inflation. If that is the case, then basically each year your income level goes down.
* This post was
edited 10/12/09 07:07pm by msmith1199 *
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MoRambler
Springfield, Missouri
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Any time someone told me they're living on a fixed income, I tell them I've lived on one all my life. I've always worked in a salaried position and know EXACTLY what I'm going to make each month. Unless you work for a commission, you're on a fixed income.
BTW, now that I'm retired, I'm STILL on a fixed income.
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Nascarcruzin
Home is where the RV is parked.
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Dh always says he is on a fixed income, but he gets costs of living raises, which I will point out the next time he says it. haha
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msmith1199
Central, CA
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MoRambler wrote:Any time someone told me they're living on a fixed income, I tell them I've lived on one all my life. I've always worked in a salaried position and know EXACTLY what I'm going to make each month. Unless you work for a commission, you're on a fixed income.
BTW, now that I'm retired, I'm STILL on a fixed income.
You made the exact same money each month all your life? Not me, I make a lot more now than I did 20 years ago.
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Kajtek1
CA
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That is why state of California is bankrupt. In private sector lot of people can on dream about making the same money they did 20 years ago.
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jcapps
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Kajtek1 wrote:That is why state of California is bankrupt. In private sector lot of people can on dream about making the same money they did 20 years ago. rotflmao
I think fixed is only for seniors with little retirement money or the average private sector worker. The folks I know working in the private sector have gotten raises of the last ten years but every time someone leaves or retires no one new is hired and the work and extra hours are distributed amongst the remaining employees. That basically means they are making the same they were making ten years ago
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Crowe
Billerica, MA USA
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It means exactly what it says-at that point in time you get the same amount of money each week/month or whatever, and it's out of your control to change. I'm an hourly employee but some weeks I may work more than others, or I may be entitled to a bonus, so my income changes. My husband is a salaried employee but is entitled to bonuses and other incentives, so his income changes. It's like when a government worker travels and they get the per diem (fixed) rate for meals, etc., no matter what they may eat they only get a certain amount.
Life is too short to spend it all in one place!
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msmith1199
Central, CA
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Kajtek1 wrote:That is why state of California is bankrupt. In private sector lot of people can on dream about making the same money they did 20 years ago.
So your income now is the same as it was 20 years ago?
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