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Old 05-07-2015, 01:02 PM
 
Location: Florida -
8,764 posts, read 10,843,052 times
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Quote:
Originally Posted by mathjak107 View Post
anything can happen . that is why we did our best to mitigate the damages both with the best medical insurance coverage we could get and a partnership plan for long term care with our state.

we use a small percentage of the returns we get on those assets to protect the assets themselves as best we can . even then nothing is ever perfect.

but i put the most comprehensive plan i could come up with that we could afford in place for both what if we live , as well as what if we die .
Exactly! -- We've done the same ... it's hoping for the best, but, planning for the worst. If things work-out, then good! -- If things don't work-out, then plan B comes into effect to protect one's spouse and perhaps leave something for the kids (life insurance, long-term care plan, death benefits on annuity, life trust, etc).

Everyone dies and for them, the amount of time they spent in retirement, no longer matters. In our case, I retired early at 61 and did and have done a great deal of travel etc. since then ... but, still in great health 7-years later with no major health or financial problems on the horizon...so, 'hoping for the best' is working-out.

The cases of financial disasters (retirement and other) that I've witnessed are primarily among those who simply 'hoped for the best' --- even when 'unexpected things happened' (which they always do). My wife's BIL (now), for example, was married for many years and his wife retired with a significant pension. But, then, she died a couple of years later ... with NO insurance (and he is a professional tax accountant) -- Ultimately, he lost the house and went back to work.
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Old 05-07-2015, 01:22 PM
 
71,556 posts, read 71,730,589 times
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successful people surround themselves with other successful people ..

I know I frequent some early retirement forums and mimic and learn from those much smarter than I am .

I really do not search out retirement failure forums.
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Old 05-07-2015, 02:43 PM
 
Location: Seattle some of the time now.
727 posts, read 524,426 times
Reputation: 1238
Quote:
Originally Posted by HappyTexan View Post
My sister is going to be in that boat.
No retirement savings, no pension. Says she's just going to "work forever".
She lives to shop and could be the poster girl for the "American Consumer"

I figure she'll have to move in with me as SS alone will just not cut it and so am planning accordingly.
Wow! That's extremely generous of you! None of my siblings have prepared themselves for their later years either. But I have no plans to help them. They chose to spend everything throughout their adult lives, including a rather hefty inheritance we all gained from our aunt. I chose to be careful with what I earned, saved & invested as well as prepared legally for the future & provide for my children & grandchild as best I can. As much as I don't want to see my siblings struggle, I can't justify supporting them because they were so reckless. Plus, there are four of them. I doubt I could afford them all anyway.
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Old 05-07-2015, 02:50 PM
 
Location: Great State of Texas
86,093 posts, read 72,507,006 times
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Quote:
Originally Posted by NoNansea View Post
Wow! That's extremely generous of you! None of my siblings have prepared themselves for their later years either. But I have no plans to help them. They chose to spend everything throughout their adult lives, including a rather hefty inheritance we all gained from our aunt. I chose to be careful with what I earned, saved & invested as well as prepared legally for the future & provide for my children & grandchild as best I can. As much as I don't want to see my siblings struggle, I can't justify supporting them because they were so reckless. Plus, there are four of them. I doubt I could afford them all anyway.
We grew up as friends as well as sisters. And we've lived together before for 2 years so I already know that we mesh ok as adults.

My next home will be a new build. I'll just build a 3/1 instead of a 2/1 (plan to have 1 really nice bathroom rather than 2 regular bathrooms).
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Old 05-07-2015, 03:06 PM
 
Location: Seattle some of the time now.
727 posts, read 524,426 times
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Quote:
Originally Posted by HappyTexan View Post
We grew up as friends as well as sisters. And we've lived together before for 2 years so I already know that we mesh ok as adults.

My next home will be a new build. I'll just build a 3/1 instead of a 2/1 (plan to have 1 really nice bathroom rather than 2 regular bathrooms).
Again, very generous of you. May I suggest considering building 1 1/2 bathrooms. As I get older, when I've got to to, I've got to go now! Lol! Your sister is lucky to have you. If she's anything like you, I'm sure your lives will be full of happiness & contentment.
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Old 05-07-2015, 04:30 PM
 
9,681 posts, read 15,864,806 times
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Quote:
Originally Posted by HappyTexan View Post
We grew up as friends as well as sisters. And we've lived together before for 2 years so I already know that we mesh ok as adults.

My next home will be a new build. I'll just build a 3/1 instead of a 2/1 (plan to have 1 really nice bathroom rather than 2 regular bathrooms).

Please---have 2 bathrooms, or at least 1.5 baths. Otherwise, there's ZERO resale value!

Also, that second bath goes a long ways towards reducing stress/tension between the two of you. Regardless how well you get along, you are sisters, etc, you just don't realize how your habits change as you get older. I am currently rening a 2 bdr, 1.5 bath with just my dh, but that extra half bath makes a difference. Especialy when he sits in there and reads
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Old 05-07-2015, 04:36 PM
 
Location: Great State of Texas
86,093 posts, read 72,507,006 times
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Quote:
Originally Posted by MaryleeII View Post
Please---have 2 bathrooms, or at least 1.5 baths. Otherwise, there's ZERO resale value!

Also, that second bath goes a long ways towards reducing stress/tension between the two of you. Regardless how well you get along, you are sisters, etc, you just don't realize how your habits change as you get older. I am currently rening a 2 bdr, 1.5 bath with just my dh, but that extra half bath makes a difference. Especialy when he sits in there and reads
The area I'm looking in has plenty of 2/1 and 3/1 homes.
I'm not worried about resale value.

I grew up in a family of 7..5 kids and we had 1 bathroom.
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Old 05-07-2015, 06:00 PM
 
Location: Los Angeles area
14,018 posts, read 17,737,509 times
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Quote:
Originally Posted by HappyTexan View Post
The area I'm looking in has plenty of 2/1 and 3/1 homes.
I'm not worried about resale value.

I grew up in a family of 7..5 kids and we had 1 bathroom.
I imagine the 2/1 and 3/1 homes are all older, say, 25 years or more? They aren't still building those, are they? Just curious.

We had two adults, two kids, one bathroom in the 1950's when that was common - didn't think much of it at the time, but I sure wouldn't want to go back to those days.
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Old 05-07-2015, 06:37 PM
 
Location: Montana
1,752 posts, read 1,654,422 times
Reputation: 5951
Quote:
Originally Posted by mathjak107 View Post
successful people surround themselves with other successful people ..

I know I frequent some early retirement forums and mimic and learn from those much smarter than I am .

I really do not search out retirement failure forums.
And yet, we are both here reading the thread. Guess it just proves people love a good train wreck!
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Old 05-07-2015, 06:42 PM
 
71,556 posts, read 71,730,589 times
Reputation: 49156
ha ha ha ha .... i was really referring to another poster who said they read threads with disaster stories as an example of what not to do .

i don't see them as useful in that respect at all. you can't do anything about it if your number is up.

but you certainly can learn a whole lot more about living from more positive threads.
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