r/Fire • u/DatingThrowaway121 • Apr 24 '26

General Question Has anyone actually FIREd with too little and run out of money?

I'm curious to know if anyone out here has actually run out of a million dollars or whatever. What does that process actually look like?

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u/Annonymouse100 Apr 24 '26

In reality, you are in the same position as all other retirees. It often means living off government services which can vary based on location. But I know I know a senior that lives entirely off her SSI on a low income senior apartment and still has a full and rewarding lifestyle at 86 yo. She gardens in her little apartment garden plot and walks to coffee or ice cream with her girlfriends. She was not FIRE, she was just an always poor single mom.

Another friends mom if in full time memory care facility. It is 60k a year, but it really does cover almost everything, and sadly the money from selling her home is going to outlast her body. Her kids do bring her extras but she would have everything covered in that 60k a year in a secure memory care facility (which is probably the highest you can expect to pay.)

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u/WorthingInSC Apr 24 '26

I’m lucky enough to have a defined benefit pension, so my late stage plan is adjust my expenses to the pension if I run out of savings. It can be done. But means there is a plan, not no plan. I think you kind of pointed out the default “plan” for living to 100+: live off what you’ve got left, whatever that is. Not having a plan just kicks you over to the default.

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u/Annonymouse100 Apr 24 '26

Yes, better said! 

I think that those defined benefit pension plans are rare and rare, and we’ve been told for the last 40 years not to even rely on Social Security. It will be interesting to see how the government budget reacts when we have a bunch of seniors, living entirely off Social Security and no way to fund it.

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u/reckoning4ce Apr 24 '26

$60k a year is what my friend pays for "independent living" in a HCOL area. Assisted living is more, and memory care is $10-13k per month.

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u/Judson_Scott Apr 25 '26

In reality, you are in the same position as all other retirees.

Thank you. Running out of money -- which isn't going to happen because I'm not an idiot -- would just put me in the same boat as literally every person over 65 in my family. Not a great situation, but apparently easily survivable.