On a fixed income salary!??? don't we all??

Question

well except all those who make commission, huge bonus, why would they call people poor "having a fixed income salary"... think about it, most people have fixed income salary!!

Answer 1

Fixed income usually refers to retirees that earn a steady pension, not necessarily poor, but they won't really be making any more than that. They are past working years...and sometimes the pensions don't keep up with inflation...so things get tight for some.

But you're right in a sense...my income is fixed salary, but it goes up with promotions, longevity, etc.

Answer 2

Fixed income is what you make it. Per hour is fixed number of hours may vary some but not a great deal. This can be in the poor area if it is not enough to provide the basics for the person and those that person suports or helps suport. Per week, Per month and so on.

Most people work for with a salary and most often think it is not enough.

Also there are so many ways of earning extra money if a person feels they need it.

There is no reason a person of reasonable intelegence and ability is not a millionare by the time they are fifty. One million is not a lot of money now.

Think of this. If a person at age twenty put one hundred dolars away each month in a rather safe fund by the time he reaches fifty he would be more than a millionare. Believe me I know because I did it on less. I retired at age 54 and live quite well. I still work but doing what I like to do and when I want to do it and it does not have to be for money.

Answer 3

Not a great room for improvement on a fixed salary ever heard of the working poor? There are plenty of them.

Answer 4

I'm paid by the hour, so my income depends on the number of hours I work.

With employment, you have the potential to earn more (overtime, raises, cost of living adjustments, getting a better job.)

When you're on a fixed income, your income does not change and you don't have an opportunity to increase it. It also does not adjust for inflation.

Answer 5

appropriate guess is to objective and verify what your earnings would be, then quite a few months in the past you retire, shrink your spending lower back and stay to tell the story what you will get. the foremost rule of thumb is to have approximately 80% of your present day earnings coming to you after retirement. My interest became into seventy 5% after 30 yrs, so I labored a pair of greater years so my retirement examine became into only over 80%. I appeared at issues i does no longer be desiring, which includes outfits, I truthfully have adequate to final me. automobile expenses, I now gasoline up each 3 months, rather of two times a month. My mom is now ineffective, so i do no longer holiday out of state that lots. i do no longer devour out as lots, nor do i purchase as lots nutrition as I did. it is going to count on your guy or woman existence type, what you are able to shrink out. yet i'm thinking which you will have the flexibility to shrink lots out. the only added cost is scientific, yet I lucked out with sturdy retirement coverage from my interest, i'm only caught in this state to maintain it. So all you're able to do is get a sturdy coverage and make advantageous that with investments and social protection which you will have a minimum of 80% of your present day earnings. .

Answer 6

You're right. But when that term is used it usually means "on a low income" with no money to play around with, investing in shares or buying luxuries.
Captain Jack is the only one who kept to the point.
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Answer 7

My salary is not fixed, I work part time, depends what needs to be done, busy weeks are good, quiet weeks are bad.

Answer 8

Many people have money that is "play money" meaning to use for whatever, dining out, vacations,savings acct. etc. It is not in the fixed income category so to speak.

Answer 9

No If you are working you have the potenial to earn more. If you are on a pension from the government such as Social Security, they set the limits by law and there's not a potenial to earn more.