- Corky and Patti Ewing of Southern California are retiring on a comfortable income, despite never earning more than a middle class income in Southern California.
- Their use of compound interest in retirement accounts, rental income and property ownership, and investments have helped them increase their net worth and retirement savings.
- “We’re just pinching ourselves that we’re even able to even think about retiring,” says Corky.
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As self-described “blue-collar workers” in expensive southern California, Corky and Patti Ewing never thought they’d be able to really retire.
“We’re just pinching ourselves that we’re even able to even think about retiring,” Corky, a 62-year-old business owner and soon-to-be retiree, tells Business Insider. But with his business up for sale and years of preparation, the Ewings estimate that their assets and Social Security income will give them a comfortable retirement income.
“My wife and I, neither of us are college educated. We never went to college and got a degree,” he says. “My wife worked as a machinist and then a supervisor for 38 years,” he said. His business is in cleaning and restoration. “We are blue collar workers,” he tells Business Insider.
“We didn’t have big salaries,” Corky says, continuing that his and his wife’s combined taxable income never exceeded $120,000 per year. In San Diego, near where they live, between $50,000 and $150,000 is a middle class income.