A penny saved is a penny earned.

A penny saved is a penny earned.


I have been thinking about money more than usual lately, largely because I am approaching retirement in another five or six years and I wonder how we will handle the loss of income from my job.  I have earned laughably little income each year of my long working life and so my estimated social security checks will be very modest once I begin drawing them.  Would I have more diligently pursued raises and strived for more lucrative employment had I known earlier that my social security benefit would be based on my two highest of 35 years of earnings?

My situation is the result of conscious choices made over my lifetime of working.  Much of the work of my life — cooking, cleaning house, grocery shopping, yard maintenance, laundry, child care and other traditionally women’s work — does not count toward the social security calculations.  I know in my heart that this work is not worthless, but it is obviously not valued by the bean counters in government.  My natural affinities are for liberal arts — literature, painting, writing, photography — and not the high demand and high paying jobs in engineering, technology, medicine, science. I deemed it important to feel happy in my work.  Because I had my first cancer at a young age (32), I chose to work part-time while my daughter was at home with us so that I could enjoy time with her and being a Mom.  I don’t regret that decision.  And now that I am an empty nester, I still want a more balanced life and have chosen not to return to fulltime work.

Soon it will be time to pay the piper.

I’ve decided not to feel regrets for my earlier decisions and to feel grateful that I know how to live richly on little money.  Library books are free and I am perfectly content to read for pleasure and edification.  My watercolor supplies are relatively cheap and my 10-year-old digital SLR is still able to capture interesting photos.  I live in a city that is walkable and located close to mountains and water.  I don’t drive much, and my old used car has already given me twice the use I projected when I bought it.  I prefer my own cooking from scratch to more expensive restaurant meals. My special treat is a modestly priced Americano coffee drink!  I am educated and curious and enjoy taking advantage of the city’s free cultural offerings. I can wear jeans and tee shirts to work.  I was raised to be thrifty and frugal and have always been able to live on less than what I make without feeling deprived.  How fortunate I am that my modest expectations will fit my modest means!

I was reminded of how wealthy I really am when I read Ben Hewitt’s Saved:  How I Quit Worrying about Money and Became the Richest Guy in the World.  He puzzles over the almost universal and widespread assumption that wealth and security are defined by one’s bank account and monetary investments.  He talks about how corporations and advertising and the media work to create a sense of anxiety and make people feel underprivileged so that they strive to buy more and accumulate more to feel better off.  He says, “Why have I allowed myself to worry so much?  I have never gone hungry, or spent a night unsheltered from the elements.  I have never even been at risk of these things.  Most of my worry, I have come to realize, has emerged from a place of uncertainty and fear.  Not over the present, mind you, or even the medium-term future, but over the belief that I should be accumulating monetary wealth in preparation for an unknown future.  Why?  Because it’s what I’ve been told I must do; it’s what we all have been told we must do.”

I have to remind myself that the advice of retirement gurus, whose magazine columns are supported by advertisers only if the message is somehow tied to selling their products, is based on the assumption that I want a standard of living during my retirement that is much higher than the one I’ve lived my whole life so far.  I don’t drive new cars, eat out daily or weekly, spend lavishly on vacations, etc.  So perhaps those projections which infer the inadequacy of my retirement savings are a false fit for me.  Perhaps I have enough to be comfortable.

Is the goal of accumulating money really a wise way to live?  Hewitt finds his wealth in the things that matter to him:  an abundance of freedom, community, choice, good health, happiness, resourcefulness.

Where are you on the continuum of rags to riches?

Dirt Poor to Filthy Rich




















getting by









filthy rich