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Old 03-24-2015, 07:05 PM
 
Location: USA
7,778 posts, read 10,143,429 times
Reputation: 11715

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I would like to have an Iphone or a smart phone because so many others have one, but I can't figure out any possible way I need one. I know the monthly fee is high and I don't want to pay it because I may need that money later on for something really important. I do have hi-speed internet, which I enjoy, but no Ipad or tablet or a Kindle. I have a cheap cell phone I keep in the car for emergencies, but haven't needed it ever. No one has the number because it's turned off. Anyone who wants to phone me can call me at home.

I began planning for when I retired in my forties and socking money away, denying myself in favor of saving. I'm far more generous with myself now that I'm retired than I was earlier in life. It was a difficult habit to break, but I did. Not that I became a spendthrift, but I treat myself regularly. My goal was not have be dependent on Social Security.

I've always kept in mind that Social Security was intended only as a supplement, not a full pension and I didn't want to be living on a supplement. I'm not wealthy by any means but I'm not poor either. I'm a good money manager and am thankful for that. I'm only responsible for myself and it's been that way for many years and has been my choice. I can do a lot of things, but one thing I don't do well is choosing a mate. I married twice and decided against a third time. i think it was for the best.
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Old 03-24-2015, 07:34 PM
 
Location: Near a river
16,042 posts, read 18,978,143 times
Reputation: 15649
Quote:
Originally Posted by Emigrations View Post
"Saving and scrimping" implies deprivation and doing without. Why is the issue never looked at from the earning more and investing side? I don't understand why people never look at retirement planning from the standpoint of "if I earn more, I can both invest more and enjoy today more," and instead assume a zero-sum game where the only way to grow retirement savings is simply to cut spending or save more.
In the context of your post, may I ask what you do for a living?
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Old 03-24-2015, 07:47 PM
 
Location: Idaho
1,454 posts, read 1,155,436 times
Reputation: 5492
Quote:
Originally Posted by Emigrations View Post
"Saving and scrimping" implies deprivation and doing without. Why is the issue never looked at from the earning more and investing side? I don't understand why people never look at retirement planning from the standpoint of "if I earn more, I can both invest more and enjoy today more," and instead assume a zero-sum game where the only way to grow retirement savings is simply to cut spending or save more.
Emigrations,

I can attest that one can save, scrimp at the same time with earning and investing money. We have been doing it for years and most of our siblings have been doing the same too.

It is not a zero-sum game in terms of spending time saving, scrimping thus not having time for earning, investing either. If anything, one's 'pot of money' grows faster than only earning/investing and certainly much faster than earning/investing and spending ;-) A frugal habit once developed becomes automatic thus taking very little time. One can use a well-honed saving skill in identifying the investments with the best ROI.

I do agree that one should not be in a constant state of deprivation and doing without. Who wants to live a miserable life of a miser? - hmm, come to think of it, miserable is probably derived from the word miser ;-) We scrimp on the things which are not of important to us like clothing & spend money on things or activities which we enjoy the most like traveling and flying. We certainly did a lot more scrimping in our younger days and more spending later especially when my daughter had completed her education.

The economic lesson that we have learned is that it takes money to make money. It one does not save and only spends freely, one just lives from paycheck to paycheck and has no money to invest. It may not always be the only way or the foolproof way but obtaining an education is a pathway to earning money & we all know that education is not free. I have known quite a few of poor grad students (ourselves included) who save and scrimp for years while working before going back to school. So sometimes if is a necessity to save and scrimp earlier on in order to be able to earn money for investing and/or to earn more money.

Last edited by BellaDL; 03-24-2015 at 08:00 PM..
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Old 03-24-2015, 08:44 PM
 
8,857 posts, read 5,136,100 times
Reputation: 10128
Quote:
Originally Posted by Rubi3 View Post
I would like to have an Iphone or a smart phone because so many others have one, but I can't figure out any possible way I need one. I know the monthly fee is high and I don't want to pay it because I may need that money later on for something really important. I do have hi-speed internet, which I enjoy, but no Ipad or tablet or a Kindle. I have a cheap cell phone I keep in the car for emergencies, but haven't needed it ever. No one has the number because it's turned off. Anyone who wants to phone me can call me at home.

I began planning for when I retired in my forties and socking money away, denying myself in favor of saving. I'm far more generous with myself now that I'm retired than I was earlier in life. It was a difficult habit to break, but I did. Not that I became a spendthrift, but I treat myself regularly. My goal was not have be dependent on Social Security.

I've always kept in mind that Social Security was intended only as a supplement, not a full pension and I didn't want to be living on a supplement. I'm not wealthy by any means but I'm not poor either. I'm a good money manager and am thankful for that. I'm only responsible for myself and it's been that way for many years and has been my choice. I can do a lot of things, but one thing I don't do well is choosing a mate. I married twice and decided against a third time. i think it was for the best.
There are some inexpensive choices for phone service. Have you heard about Ting or Republic Wireless? They both use Sprint's network. If Sprint works fine in your area, either of those will too.

www.ting.com

www.republicwireless.com
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Old 03-24-2015, 09:16 PM
 
Location: Idaho
1,454 posts, read 1,155,436 times
Reputation: 5492
If you want a smart phone to connect to the Internet, to have built-in GPS, camera, to text etc, don't want to spend a lot of money and don't need unlimited minutes/data, you can purchase a Verizon 'Droid' instead of an iphone and use pre-paid Page Plus cellular service.

One of the cheapest smartphones you can currently get is a Motorola Droid Pro XT610. The nice thing about it is that it has a nice Qwerty keyboard

Motorola DROID PRO XT610 - Full phone specifications

I bought one a 'used' one on ebay early this year for $25 to replace my husband's temporarily lost 'dumb' phone. The phone was in perfect condition like brand new and works great. I just did a quick check on ebay and it is selling for something like $30 (free shipping).

Page plus cellular prepaid is only $10 for 100 minutes good for 120 days with the unused minutes rolled over when you replenish the account before expiration date. So this is a really cheap way to own a smart phone ;-)
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Old 03-24-2015, 09:43 PM
 
48,516 posts, read 83,943,432 times
Reputation: 18050
Verizon also has listing for over 65 to choice from.
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Old 03-25-2015, 01:35 AM
 
Location: Tennessee
34,689 posts, read 33,695,295 times
Reputation: 51900
Life is a series of dwindling choices. Your goal in life and what they should teach in school is to maximize your choices starting when you are in school. Instead, every wrong choice you early on gives you less choices later in life and puts you on a road to poverty or barely scraping by.

Don't screw around in school.
Graduate high school.
Don't hang out with losers.
Don't marry a loser.
Don't do drugs.
Don't have a baby out of wedlock.
Don't be a stay at home mother.
Don't spend money you don't have.

And if boomers decided to "Sha, la, la, la, la live for today and don't worry 'bout tomorrow, hey" those now over-aged hippies shouldn't be whining today about their inability to retire... although I'd love to know whether The Grass Roots, who are still touring now in their old age, are doing so because they took their own bad advice and need the money or because they like it.

This isn't everyone, of course. Bad unforeseeable things do happen to people who do everything right but I'll bet that a large percent of people who have to work or struggle when they are retirement age were on the path of dwindling choices and on the road to poverty before they hit 25 years old because of one, some or most of the above.

Will probably take the most heat for the "stay at home mother" one but husbands die and the divorce rate is high. There's nothing more pitiful than a 40 or 50 something year old widow or divorcee with no current marketable job skills or experience but who has to find work at that age...even if they are highly educated.
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Old 03-25-2015, 03:32 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,585 posts, read 39,962,822 times
Reputation: 23716
Quote:
Originally Posted by newenglandgirl View Post
In the context of your post, may I ask what you do for a living?
Poster is single and in their 20's, might add perspective to reply of topic; "Income Inequality and Senior Citizens"


A lot of L_I_F_E happens in subsequent yrs.

It is nice / prudent to plan and speculate, but there WILL be some changes to Plan A.
True... hard work and diligence offers higher chance of success, but no guarantees.

As mentioned in some postings... You really see a lot of income inequality in senior housing. ALF / SNF / and condos... Kind of like going back to Jr High (cliques). I am amazed at how many senior facilities I visit where people are moving OUT! (can no longer afford, or are sick of being treated as per 'wealth index' or as a 'money sponge'. (Nickel and Dimed in the thousands every month)).
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Old 03-25-2015, 04:28 AM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by marcopolo View Post
Many but not all gain some level of wisdom by the time they get to retirement age. Can't we all live an abundant life if abundance is measured by sunsets and friends and smiles and hello's and feeling the wind in your hair (or on your scalp) and the sun on your face, enjoying the laughter of the young and the stories of the old?

I have all that; I have an abundant life. Oh, yeah, all that and large steaming piles of money, too.
Congrats
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Old 03-25-2015, 04:30 AM
 
29,782 posts, read 34,871,258 times
Reputation: 11705
Quote:
Originally Posted by LauraC View Post
Life is a series of dwindling choices. Your goal in life and what they should teach in school is to maximize your choices starting when you are in school. Instead, every wrong choice you early on gives you less choices later in life and puts you on a road to poverty or barely scraping by.

Don't screw around in school.
Graduate high school.
Don't hang out with losers.
Don't marry a loser.
Don't do drugs.
Don't have a baby out of wedlock.
Don't be a stay at home mother.
Don't spend money you don't have.

And if boomers decided to "Sha, la, la, la, la live for today and don't worry 'bout tomorrow, hey" those now over-aged hippies shouldn't be whining today about their inability to retire... although I'd love to know whether The Grass Roots, who are still touring now in their old age, are doing so because they took their own bad advice and need the money or because they like it.

This isn't everyone, of course. Bad unforeseeable things do happen to people who do everything right but I'll bet that a large percent of people who have to work or struggle when they are retirement age were on the path of dwindling choices and on the road to poverty before they hit 25 years old because of one, some or most of the above.

Will probably take the most heat for the "stay at home mother" one but husbands die and the divorce rate is high. There's nothing more pitiful than a 40 or 50 something year old widow or divorcee with no current marketable job skills or experience but who has to find work at that age...even if they are highly educated.
All very true.
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