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🇹🇼 Taiwan /Economy & Trade

68-Year-Old Man Saves $240 Monthly on $1,150 Income, Citing Realistic Retirement Fears

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

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  • A 68-year-old single man in Japan, Taneo Hotta, earns nearly 180,000 yen (approx. $1,150 USD) monthly but saves about 38,000 yen (approx. $240 USD) due to financial anxieties.
  • He relies on his pension of 126,000 yen (approx. $800 USD) and continues to work part-time as a clinic driver, earning an additional 53,000 yen (approx. $340 USD) monthly.
  • Hotta's stringent savings include strict food budgets and minimal social spending, driven by a fear of future financial instability if he can no longer work.

Taneo Hotta, a 68-year-old single man in Japan, lives a life of extreme frugality, saving nearly 38,000 yen (about $240 USD) each month despite a total income of almost 180,000 yen (about $1,150 USD). His cautious approach stems from a deep-seated fear of financial insecurity in his retirement, should he become unable to work.

Hotta receives a pension of 126,000 yen (about $800 USD) monthly. While this amount is not entirely unlivable, he finds it too restrictive. To supplement his income and build a financial cushion, he continues to work part-time as a driver for a clinic, earning an additional 53,000 yen (about $340 USD) for about 15-16 days of work per month.

If I discover a problem, it will be troublesome.

— Taneo HottaHotta explained his reason for not attending government health checkups for three years.

His daily life is marked by extreme cost-cutting measures. Hotta limits his food expenses to 600-700 yen (about $4-5 USD) per day, rarely eats out, and avoids hobbies or social activities to minimize spending. He travels 20 minutes by bicycle to discount and wholesale supermarkets to buy groceries, which are 20-30% cheaper than those near his home. His monthly food budget is kept under 28,000 yen (about $180 USD).

I didn't expect to have to be so meticulous in my later years.

— Taneo HottaHotta expressed his feelings about his current frugal lifestyle.

Even basic necessities are scrutinized. He sometimes forgoes purchasing vegetables due to their cost. Medical expenses are also minimized; he stopped attending physical therapy for a shoulder condition after two months, believing it had improved, and has not attended government health checkups for three years, fearing potential diagnoses that could lead to further costs. His only regular medical expense is twice-yearly dental checkups to prevent more expensive treatments later.

Hotta expresses his dismay at having to live so frugally in his later years, despite having paid his pension dues and not engaging in vices like drinking or gambling. The nearly 40,000 yen he saves each month is not for wealth accumulation but for a sense of security in a future where he can no longer work.

The nearly 40,000 yen I save each month is not for increasing assets, but for providing a little more security for 'after I can no longer work'.

— Taneo HottaHotta described the purpose of his monthly savings.
DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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