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Old 03-08-2015, 04:36 PM
 
Location: Coastal New Jersey
56,004 posts, read 54,508,374 times
Reputation: 66349

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Quote:
Originally Posted by mathjak107 View Post
i agree but i see the division different.

the problem is those forums do not attract many seniors and they are suited for the 1st half of the game the accumulation stage.

once you reach retirement the game becomes very different for those in retirement as many have this pile of money they saved and now want to know :

how much can i spend and not worry about running out of money ?

how do i allocate it to meet those goals ?

what other products can i add to increase my odds of not having to take an income cut down the road ?

most important how do i tax plan this mess to co-exist with rmds and social security.

these are issues most have no interest in on the other forums. they want to know how to make money , not spend it down in the decumulation stage we are in.

i think we need a seperate retirement financial sub forum. maybe retirement and our money .
Quote:
Originally Posted by newenglandgirl View Post
Yes please, administrators.
I think that would be a great idea. There is obviously a desire to have those conversations, and this way they wouldn't get mixed in with other retirement-related discussions, and people who don't have money might feel freer to post their questions or thoughts.
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Old 03-08-2015, 05:00 PM
 
Location: too far from the sea
19,824 posts, read 18,832,665 times
Reputation: 33721
I was thinking that maybe they'd let us have a Retirement Forum with two sub-forums. One sub-forum would be aimed more at the pre-retirees and would definitely include their money strategies. In fact, that would probably become the main focus of that group. The other sub-forum would be aimed at the people who are already retired and who want to discuss various topics--including finances, but as MJ stated, the type of financial advice that would be pertinent to their stage of life.

We'd all still be in the Retirement Forum and of course nothing would be stopping any of us from posting in either sub-forum. In fact, if you clicked on the main forum, you'd get something like "All Topics within Retirement" so you'd get the entire thing. If any pre-retirees wanted to ask the actual retirees things like "what is it like to be retired?" the retirees could still answer them. If retirees wanted to ask the non retirees something, they could do so as well.

I think the overriding issue is the enormous number of baby boomers and their age range which includes pre-retirees as well as already retired. More baby boomers will be retiring, then more, and more after that. This forum is already huge and there are so many active threads that some inevitably fall right off the page.

So, if anyone else wants to try to get "them" to create two sub-forums under Retirement (but this would remain ONE forum, just with two sections) the thing to do is go to About the Forum and suggest it. If they receive enough requests maybe they'd do it.
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Old 03-08-2015, 08:55 PM
 
5 posts, read 3,318 times
Reputation: 19
We are 70 and 72 and both retired. Everytime I read that about needing at least two hundred thousand to retire makes me get sick at my stomach with panic because we don't have savings. We own our home. We are both in poor health, he has Alzheimers and I have an assortment of ailments. I checked into an assisted living facility for us but there wasn't going to be enough left for medicine and diapers. We have 3 children in the area who are emotionally supportive, but not financially. They have their own families and I wouldn't want to take from them anyway. I worry about what will happen to us when I can no longer care for my husband or even myself.
But we do have most of our needs met, we don't travel, rarely eat out but we are pretty much happy. We do have days that don't go smoothly and we do have issues to deal with. Yes I worry a lot about what will happen when the day comes that we can't be self sufficient anymore. I feel sure we will need some type of government assistance. There are lots and lots of people in our shoes who are just barely making it. Check out a senior center near you and listen to others talk. You will learn there are people there whose only meal is what they get at the center and who go there to keep from using their heat or cooling , and not just for socializing though that is one of the better parts of it. The meals are $1.50, only lunch is served at ours, I don't know about others.
For those who can't pay and there are some, lunch can be arranged to be free.
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Old 03-08-2015, 09:01 PM
 
Location: Edina, MN, USA
6,954 posts, read 7,388,974 times
Reputation: 16278
Quote:
Originally Posted by brokensky View Post
The way I see it . . . what the hell does it matter if we are doing "what we should" at this point. There is only so much to be salvaged by the time one is looking at 70, especially if there are health issues.

We live our lives and that journey is often filled with unpredictable occurrences.

No one can indemnify themselves against everything that is going to happen.

Nor do I wish to live my life in fear of all the "what ifs."

I know folks who are so wrapped up in circuitous fearful thinking about "how to keep themselves solvent and alive til age 100" . . . they don't enjoy the moment. They are afraid to take that trip because that will use up some of the $$$$ they have socked away so they can . . . um . . . what? Comfortably pay to have someone bathe them and adjust their feeding tube daily at age 95?

The question posed was - where are the folks who don't have enough to retire?

My feeling about that is right along the lines of what old_cold has said. What advice or direction have any us really been able to give to those who are struggling financially . . .and what advice IS THERE on this planet that would help, other than providing links to social service safety nets?

Frugal living . . . okay. Sharing ideas. That is helpful. Resources for group living and sharing and combining assets . . . that can be helpful.

But most of what folks share is info that MIGHT have been helpful 20 years ago. It often comes off as condescending (or patronizing) - EVEN IF THE PEOPLE WRITING THAT INFO DO NOT MEAN IT THAT WAY.

The truth is simple: Folks don't always choose to retire. Folks who feel they don't have enough money saved to retire and are healthy enough to keep working will do just that. Folks who have health issues -- from Alzheimers to chronic or terminal illness -- (or who have spouses dealing with those issues) -- don't always have a CHOICE. It is what it is.

I have said this many times, on this forum and elsewhere, there are many people across this country getting by on less than $1000 a month. Their situations vary greatly. Some may have assets they aren't touching while they survive off social security. Some have nothing. Some rely on living with family members. Some have roommates. Some are in subsidized housing. Some own their own homes.

People survive within whatever parameters they are dealing with at that point in time.

The key is . . . how to live within your means and do so with some joy. It doesn't matter how wealthy or impoverished a person is. There is no reason to continue living if there is no joy in life. This time on the planet is not meant to be an endurance test -- just a gauntlet we run to prove we can do it.

Attitude is everything. The reason we don't hear from folks who are just "getting by" is because too often, reading the "advice" on this forum is not geared to enhancing lifestyle and uplifting the downtrodden . . . but it doesn't have to be that way.

We have created terms to refer to our elderly years that indicate that they there is something wrong with us if we don't see the last decades of our lives as "golden." Well, if that means "precious" (as in - fleeting and to be treasured) . . . then I can certainly agree with that. But if it means everyone is supposed to be sailing into the sunset with cash-in-hand, a gleaming "Net Worth" statement, great health and a spouse who is joyfully holding our hands til we die in the comfort of our paid off home, surrounded by children and grandchildren and the contracted home health team . . . then most folks are delusional.

In the end, we come into this world with nothing and we will leave with nothing. How we figure out to sustain ourselves in between those two points is as much a matter of attitude as it is accumulating wealth.

We would do everyone a big service if we stopped for a moment and recognized that everyone's situation is different. Everyone's. There may be similarities, but everyone's path is individual. For those who have been blessed with financial rewards - I commend you. For those who have been impacted by circumstances that none of us would have chosen, I commend you, as well. You are alive. You survived. No one can make us happy or take away our happiness. There is joy to be found in very simple things -- a good book, a walk in the park, a task completed.

Life is not a race. No one "wins." We all die. Have some empathy for those who are having a tough time. And reach out. If not on a forum such as this one, in your community. A little compassion and a can of soup might make the difference in someone else's day. Flaunting your Net Worth statement definitely won't.

Who said common sense was dead? Excellent post. I have to agree that if you are 70 then advice on what to do going forward is needed and not what should have been done 20 years ago - spilled milk. I've had 2 Financial Advisors that I paid a lot of money for good advice and they both sucked - really sucked. They would be great at selling used cars. They are just that - salesmen.
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Old 03-08-2015, 09:50 PM
 
Location: middle tennessee
1,924 posts, read 987,556 times
Reputation: 6929
have an axe to grind
to have a strong personal opinion about something that you want people to accept and that is the reason why you do something


I want to apologize to mathjak for saying in an earlier post that I thought he had "an axe to grind" . The definition above is what I had in mind. I understand now that the phrase means different things to different people.

I wish I had better ccp skills. I think the quote above is from Merriam Webster.

Thank you to the person who brought this to my attention.

and I'm not even worried about being off topic
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Old 03-08-2015, 10:37 PM
 
2,421 posts, read 3,721,899 times
Reputation: 3455
Quote:
Originally Posted by in_newengland View Post
I was thinking that maybe they'd let us have a Retirement Forum with two sub-forums. One sub-forum would be aimed more at the pre-retirees and would definitely include their money strategies. In fact, that would probably become the main focus of that group. The other sub-forum would be aimed at the people who are already retired and who want to discuss various topics--including finances, but as MJ stated, the type of financial advice that would be pertinent to their stage of life.

We'd all still be in the Retirement Forum and of course nothing would be stopping any of us from posting in either sub-forum. In fact, if you clicked on the main forum, you'd get something like "All Topics within Retirement" so you'd get the entire thing. If any pre-retirees wanted to ask the actual retirees things like "what is it like to be retired?" the retirees could still answer them. If retirees wanted to ask the non retirees something, they could do so as well.

I think the overriding issue is the enormous number of baby boomers and their age range which includes pre-retirees as well as already retired. More baby boomers will be retiring, then more, and more after that. This forum is already huge and there are so many active threads that some inevitably fall right off the page.

So, if anyone else wants to try to get "them" to create two sub-forums under Retirement (but this would remain ONE forum, just with two sections) the thing to do is go to About the Forum and suggest it. If they receive enough requests maybe they'd do it.
I think the biggest distinguishing categorizes should be:

RETIRED
WORKING TOWARDS RETIREMENT

Quote:
Originally Posted by sonold View Post
We are 70 and 72 and both retired. Everytime I read that about needing at least two hundred thousand to retire makes me get sick at my stomach with panic because we don't have savings. We own our home. We are both in poor health, he has Alzheimers and I have an assortment of ailments. I checked into an assisted living facility for us but there wasn't going to be enough left for medicine and diapers. We have 3 children in the area who are emotionally supportive, but not financially. They have their own families and I wouldn't want to take from them anyway. I worry about what will happen to us when I can no longer care for my husband or even myself.
But we do have most of our needs met, we don't travel, rarely eat out but we are pretty much happy. We do have days that don't go smoothly and we do have issues to deal with. Yes I worry a lot about what will happen when the day comes that we can't be self sufficient anymore. I feel sure we will need some type of government assistance. There are lots and lots of people in our shoes who are just barely making it. Check out a senior center near you and listen to others talk. You will learn there are people there whose only meal is what they get at the center and who go there to keep from using their heat or cooling , and not just for socializing though that is one of the better parts of it. The meals are $1.50, only lunch is served at ours, I don't know about others.
For those who can't pay and there are some, lunch can be arranged to be free.
Sonoid, I wouldn't get too worked up over the situation. Thankfully there are measures put in place to prevent seniors from total lack of care. The hardest part of outliving your money is probably the time spent trying to remain independent. That is when you see seniors like you mention doing everything they can to survive financially. But sometimes seniors wait too long too before asking for help, and that is not good either. If your husband has Alzheimers, iit is just a matter of time before you can no longer care for him, and he will need greater supervision than even you can give him.

That may be a long way off, I don't know, but when ever it is, you will still be able to survive and find happiness. There are senior housing apartments where if you are healthy enouth and can still care for yourself, your rent will be but a small amount of your social security. You will get assistance with food, transportation, and medical costs. Yes that means all monies will have to be spent down and would probably require you to sell your home and rent somewhere until your assets were depleted, or go into an assisted living facility until they were depleted. But you would make friends, and have all the essential needs met, so you should not stress over this.

You do need to prepare though. Look into all your options as there are sometimes long waiting lists and you want to try and time things best you can and always have a plan. Hopefully you have read NoMoreSnowForMe's post about her situation. This should offer you some comfort and reassurances.
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Old 03-09-2015, 12:06 AM
 
2,429 posts, read 3,221,988 times
Reputation: 3330
sonold have you ever consulted with an estate attorney who can advise about asset protection? I know you said you don't have savings, but you have a paid off home....and do you literally mean NO savings?

Can your children work together to support you -- with finances or physical day to day help? So the responsibility is spread among them.

No a person doesn't need "at least 200K to retire" -- BUT a person should be as savvy as possible to protect what ever he or she DOES have. That's where an expert in asset protection could come in....someone who could go over your exact situation and tell you what move to make NOW, in preparation for later.
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Old 03-09-2015, 12:22 AM
 
26,075 posts, read 28,478,940 times
Reputation: 24783
Quote:
Originally Posted by freemkt View Post
WTF do I need with New Age-y stuff?

All I need is a decent living environment and enough space to do my online selling from home.
The usual closed minded response to any suggestion anyone makes to you that does't involve posting the same thing a million times over on CD.
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Old 03-09-2015, 12:29 AM
 
26,075 posts, read 28,478,940 times
Reputation: 24783
Quote:
Originally Posted by NoMoreSnowForMe View Post
I don't understand this obsession to crack the whip, which Mathjak was saying, too - over other people to make them do what you think they should be doing.

It's not your problem or your business. Not everyone thinks like you do or want to.
Sorry, but that is just WRONG. WRONG. WRONG. What other people do (or don't do) MOST DEFINITELY has a HUGE effect on me. The people who save, etc. are the ones who pay for those who don't. Yet we are the object of anger and resentment from many of the same people we help subsidize (whether it be through charity, taxes, or help on a personal level).


Quote:
Originally Posted by NoMoreSnowForMe View Post
Trying to make other people do what you want them to do, and they don't want to do, is just going to drive you nuts. You can't control other people. Relax.
Ok, maybe I do need to hear that.

Quote:
Originally Posted by NoMoreSnowForMe View Post
You are assuming survival mode is hell. That's not true for everyone.
It's true for the majority, so I don't think that's an unreasonable assumption on my part.

Quote:
Originally Posted by NoMoreSnowForMe View Post
No need to worry about me.
Uh-huh. You can bet I've heard that one before and more than once That's what my broke ex says to me when he's living on the financial edge but not quite in a crisis. When a crisis hits, then I get the phone call asking for $$$ and I get to be put in yet another Catch 22 situation.

Yes, I get it. For some people, it's too late. Their gooses are essentially cooked. But many others have at least some ability to improve their financial situation before it becomes too late for them.

Last edited by mysticaltyger; 03-09-2015 at 12:40 AM..
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Old 03-09-2015, 01:00 AM
 
Location: Near a river
16,042 posts, read 18,967,079 times
Reputation: 15649
Quote:
Originally Posted by shaker281 View Post
Medicaid pays for posh nursing homes? In that case, why all the angst?
hmmmmn....
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