[gaylegreeson1]

I'm 55 years old, and I would like to retire from working, the old joints don't want to work like they use to. I can tell everyday that it's getting harder for me to work, my mind tells me one thing, but the body says NO.
Why can't you retire at the age of 55 and get the min of 500.00 a mo?

[Clough]

I don't know what you mean about a minimum of $500.00 a month. Please pardon my naivety, but would that be from Social Security or something else? At my age of 51, I do know what you mean about the body not working the same way that it used to... And, I have already "retired" from certain activities that I used to do.

What is it exactly that you are seeking an answer for here, please? Thank you!

[UK1997]

Can you live on such a small amount?
The best way to answer your question might be to figure out how much it takes for you to live on for a year. If you don't want to do a lot of figuring, try this: have your paycheck direct deposited into a savings account. You might have a checking account at the same bank, and just transfer over enough money every week to meet your basic needs.

At the end of the year, see how much money you have saved. Check your last paycheck stubb to see the total amount of take home pay. If you subtract the first number from the last, you will see how much you can survive on. This is just a ball park figure. In any given year, you might have unusual expenses that would make the amount even higher.

In my case, I could not make it on any less than $10,000/year. So $500 a month wouldn't be near enough to meet my needs.