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Old 03-02-2015, 01:30 PM
 
Location: St. George, Utah
756 posts, read 885,061 times
Reputation: 1971

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Hummm. This thread makes me a little sad. Is it really the broad perception that anyone who talks (excitedly as I do often) about retirement plans is a "braggart" and a "bully"? I don't expect that everyone has as much as we are fortunate to have--at this moment, for I am always keenly mindful that there is no such thing as total financial security, careful as we have always been to construct it--and I know that others have much more than we can ever think of having, and I don't envy the latter nor pity the former. I just think we all have different circumstances and are doing the best we can--and CD can be such a rich resource for advice and just sharing ideas no matter what "comfort level" retirement seems to be for each person.

And no, we did not have rich relatives or a hand up in life and I don't really understand anyone needing to imply that must have been the case. We were careful, we were lucky, and we started saving as much as possible very young. We focused on retirement at age 20. We are both anal like that and we married young. We are lucky thatwe and our children have so far been healthy. We are fortunate to live somewhere without major natural disasters. Our timing with real estate has been both careful and lucky. I think most people in our position would agree that but for the grace of God... I don't understand the need to be angry with those who have done well, or to typify their conversations as bragging. ?? Is someone mad that an unforseen financial disaster DIDN'T derail our plans? Isn't that kind of mean spirited too? Hey, I'm a decent person and we've worked hard to get here. Why would it make some people dislike me that the same fickle finger of fate over which I also have no control did NOT (YEEETTTT!!!!) flick me off track? Knock wood, etc.

Should I stop posting because I feel self-conscious that I don't have as much as the next guy, or because I think talking about exciting plans for a comfortable retirement will make others feel bad? Should I be mad at all the people who lived out their lives in a place they loved, because I never did? We win some, we lose some as I see it. Other things may have been sacrificed for what looks like a cushy retirement to a casual observer.

It goes both ways--if there are some people among those who will be retiring comfortably who are uncaring or callous about the plight of those who have less, there are also people among those who have less who are constantly looking to blame others or to chop some people down a few pegs. Just because someone explains the best way to get to a comfortable retirement doesn't mean they are berating those who haven't. I learn a lot from poster on this board who have done well--certainly better than I have done.

The statistics actually very consistently bear out three main reasons people won't have enough to retire--failure to start saving enough, early enough (and we all know the myriad reasons that could occur, but as Americans we are as a group very instant-gratification focused), medical bankruptcy, and divorce. The second two can indeed happen to anyone. But let's be real and admit that a fair chunk of people who won't have comfortable retirements could probably have saved more at some point. Big deal. Water under the bridge. Let's all find ways within our means to be as comfortable as possible, and help the next generations do a better job of looking ahead and delaying gratification, or of bolstering against financial disaster as well as possible--but most of all of being flexible enough to find happiness in simpler things than overseas travel and second homes.

I love reading NMSFM's posts, for example. I hope to have more resources, but if I don't I HOPE to be as resourceful and positive as she's been in this process as I've read her story. I have learned so much from her, and she and many others on this board have helped me prioritize needs vs wants in my own retirement. I never assume that the situation we're in now is permanent, and I always have backup plan, lol. A roof over my head and some hot tea, is what I've always said. Being frugal is my natural state.

There are always trolls on message boards, so saying people are afraid to post because someone might be mean seems a little bit odd. Sometimes I think it might be more that they just don't like to hear what others are saying. I ignore people that I know are always stirring the pot. I'd expect folks on the retirement board, most of you older than I am, to have the wisdom to do the same. This board is for sharing experience, wisdom (which some apparently see as bragging), excitement or trepidation at the next phase of life. Don't let's get all weird about it.

Last edited by Montanama; 03-02-2015 at 01:53 PM..
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Old 03-02-2015, 01:31 PM
 
Location: Pennsylvania
12,562 posts, read 4,247,853 times
Reputation: 9898
Quote:
Originally Posted by DaveinMtAiry View Post
mathjack you are the champion of the work until 70 plan. And financially it makes a ton of sense for the reasons you illustrated. The problem however is this may not be a viable option for many. A plumber or roofer may not be able to work that long physically, a man with a family history of heart disease may not be able to plan on a long life so why would he wait until 70 to retire when nobody in his family lived to see 75? And many of us simply want to get out of the daily stress that our jobs put on us. I know I'm certainly looking forward to the days when I don't wake up at 3 in the morning thinking about a work problem.
Yeah, work until you are 70. Great plan. Then die at 72.
No thanks.

Here's my plan: Retire early, keep costs down, and enjoy your life a little.
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Old 03-02-2015, 01:36 PM
 
71,779 posts, read 71,896,917 times
Reputation: 49345
To quote a poster here . "isn't this the i can't afford to retire thread " ?
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Old 03-02-2015, 01:44 PM
 
Location: Near a river
16,042 posts, read 18,994,426 times
Reputation: 15649
Quote:
Originally Posted by mathjak107 View Post
we now took a partnership plan with the state.

the 3 years insurance is only a small part of the story. the perks after the insurance runs out is where it shines.

we have to shift no assets at all and most important extended Medicaid picks up the bills and the stay at home spouse has no income limitations.
question answered from earlier, deleted post
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Old 03-02-2015, 01:51 PM
 
Location: Near a river
16,042 posts, read 18,994,426 times
Reputation: 15649
Quote:
Originally Posted by brokensky View Post
Excuse me, but to my understanding . . . and I am sure someone will correct me if I am wrong . . . but LTC insurance only pays for a specific time period. It doesn't pay for 20 years of nursing home care!

At some point, every policy is going to run out and to qualify for Medicaid coverage, there is still going to be a spend down.

So for folks that are going to need less than 36 month's nursing home care, yes, that would be helpful but for people who will be in a skilled nursing home setting til they die - and that could be decades! - there still has to be a spend down of assets.

LTCI is not the answer in every situation. People who are assuming all the money they have put into an LTCI policy is a "sure thing" to indemnify them might have a very rude awakening, indeed.
I have had elderly friends who had LTC and their coverage was quite limited (several years at most, something like $100 a day at most). Many today nevertheless believe that "LTC" takes care of you for many years, or a lifetime. There a such policies, but I would not want to know the premium, unless you start the coverage at age 18 or 20.
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Old 03-02-2015, 01:52 PM
 
71,779 posts, read 71,896,917 times
Reputation: 49345
Quote:
Originally Posted by newenglandgirl View Post
question answered from earlier, deleted post


I bet I know the question lol.. no it isn't mooching off Medicaid.

new York has a special form of Medicaid called extended Medicaid. it carry's its own rules and was designed to go hand in hand with their partnership plan for long term care.

you take 3 years insurance and they guarantee you no look back period , no transferring of assets , no income limits for Medicaid purposes on the spouse who stays home and Medicaid will cover the bills once the insurance runs out.

quite a few states now offer partnership programs.
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Old 03-02-2015, 01:54 PM
 
71,779 posts, read 71,896,917 times
Reputation: 49345
Quote:
Originally Posted by newenglandgirl View Post
I have had elderly friends who had LTC and their coverage was quite limited (several years at most, something like $100 a day at most). Many today nevertheless believe that "LTC" takes care of you for many years, or a lifetime. There a such policies, but I would not want to know the premium, unless you start the coverage at age 18 or 20.
the lifetime policies were very early ones. lots of red tape ,clauses, loopholes and they got some hefty increases like 40% when the insurers realized they can't do lifetime.

I know of no more lifetime deals anymore at least in our state.
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Old 03-02-2015, 02:06 PM
 
Location: SW MO
23,605 posts, read 31,514,657 times
Reputation: 29081
Quote:
Originally Posted by BeerGeek40 View Post
Yeah, work until you are 70. Great plan. Then die at 72.
No thanks.

Here's my plan: Retire early, keep costs down, and enjoy your life a little.
Family history does come into play here. I retired at 62 because I could and family history was not in my favor. Waiting until age 70 and robbing myself of eight years of retirement made no sense given the less than $1,000 a month more I'd have netted, nor did it take into account the fact that I was tired of working after 45 years. Also, men in my family have lived an average of 71.34 years including my paternal grandfather, father and his one sibling, my uncle. I'm almost 69. The prospect of enjoying perhaps less than two years of Social Security and pensioln benefits made no sense to me.

Besides, I'm sure the Feds actively hope people will try to hold out until their FRA, knowing many won't live to achieve it and that's saved money for the SSA. In fact, who knows. Perhaps they pay people to come to sites like this to actively push the idea. I'm sure stranger things have been known to happen.

Last edited by Curmudgeon; 03-02-2015 at 03:14 PM..
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Old 03-02-2015, 02:07 PM
 
1,209 posts, read 1,080,096 times
Reputation: 2547
Quote:
Originally Posted by NoMoreSnowForMe View Post
You must just be missing them. I've posted that I'm on SSI and retired on a very limited income. I am in a subsidized senior apartment that is a very tiny studio. I have Medi-Cal, and have a great dog, and moved to the northern-most town on the coast of CA, where it is very affordable, and I can now walk to the ocean, and drive to the redwood forest just 7 miles away.

I can't afford to go out to eat, or travel. But, I don't need to. The trick is to get over not being able to have the retirement of your dreams. Once I accepted the limits of my budget, I'm actually quite happy with what I have. And I think it's important for seniors to know that there is a lot of subsidized senior housing out there, and my experience so far in two senior subsidized apartment buildings in two different lower COL towns in CA, is that they are very well-maintained and safe. They are inspected by the government agencies that fund them, and they make sure we're in a safe and well-maintained place.

If you get on the waiting lists, eventually you will get called. You might not be able to live in the city of your dreams, because of the COL or length of the waiting lists. But, if you can get over that, too (I originally hoped to live in the SF Bay Area, but couldn't make that work), and you're flexible, you can find somewhere nice. It turns out I love it here, where I finally ended up. And I'm already making friends.

I became disabled, so retired early. But, if people want to retire early, and they can change their idea of how much is enough, they can do it. It's hard to let go of a vision of retirement you've had for many years.

At any rate, poor retirees can be happy, too. You just need to accept what you can't change and change the things you can, and once you get the best situation you can, be happy with what you've got.

You see, I'm pretty broke, but I can choose every day whether to walk my dog by the ocean or in the redwood forest. Today we walked by the ocean. I also took some stuff to sell at the flea market and chatted with interesting people all day, and sold home-made muffins and some other junk I had. Came home and took the dog for a walk by the ocean and chatted with some cute kids who were collecting shells.

I consider myself to be lucky, now. But, I had to let go of being able to live near my daughter in the SF Bay Area. You don't get to have everything you want, but you can still have it pretty good.
I can't rep you again for awhile - gotta spread it around. But I really like your attitude. Thanks for posting this. It's pretty inspirational and motivating. Wish more people had your point of view.
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Old 03-02-2015, 02:12 PM
 
Location: Near a river
16,042 posts, read 18,994,426 times
Reputation: 15649
Quote:
Originally Posted by mathjak107 View Post
not at all. it is facts ,figures and info . flip it around , are you trying to tell us nooooooooo one has planned badly and committed their own financial suicide ?

of course they have , the same as some folks had unavoidable situations.

if the situation fits then that is who the info is for..
I have planned badly. I am compensating now in retirement for those poor decisions. I am in awe of those of even modest income who had such incredible foresight in their 20s and 30s to think and plan for retirement. I do wish I had been one of them. That said, I'm surviving ok.
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