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Old 01-17-2016, 02:18 PM
 
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Quote:
Originally Posted by Travelassie View Post
Some of us retired folks still do. It's second nature for us, and I figure you never know.

We also save so we can pay for unexpected big time expenses that may come up, without having to go into debt or jeopardize our health or welfare by having to do without something that we need.
Let me clarify my statement. I meant we no longer have income from a job. We are no longer able to put money into an IRA or 401K and reap those benefits. We had better planned well enough that our saving for retirement days are over. You may have a surplus of money coming in with Social Security and a pension, but I don't consider that savings. I guess I just look at retirement money differently.
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Old 01-17-2016, 04:28 PM
 
29,804 posts, read 34,894,042 times
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Quote:
Originally Posted by organic_donna View Post
Let me clarify my statement. I meant we no longer have income from a job. We are no longer able to put money into an IRA or 401K and reap those benefits. We had better planned well enough that our saving for retirement days are over. You may have a surplus of money coming in with Social Security and a pension, but I don't consider that savings. I guess I just look at retirement money differently.
l fully understand what you are saying and the difference in our discussions are probably more semantics than anything. I have wondered myself how to classify what we are doing with extra money and while I use the term savings here it in my mind is really all investments and merging new money with old money both work place and taxable accounts. It is great position to be in and one really you just roll with unless discussing the overall topic.
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Old 01-17-2016, 07:56 PM
 
Location: SW Florida
9,766 posts, read 7,052,411 times
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Originally Posted by freemkt View Post
Sure, if you have enough income to travel, you have enough income to continue saving.

If you are living in a rented hovel on $1000 a month SS, not so much.

If we traveled as much as some folks do, we wouldn't have much left, if any, to save for those rainy days. It is, as it always has been, living within our means, and working to minimize debt. It certainly hasn't fallen from the money tree into our laps.
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Old 01-17-2016, 08:02 PM
 
Location: SW Florida
9,766 posts, read 7,052,411 times
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Quote:
Originally Posted by organic_donna View Post
Let me clarify my statement. I meant we no longer have income from a job. We are no longer able to put money into an IRA or 401K and reap those benefits. We had better planned well enough that our saving for retirement days are over. You may have a surplus of money coming in with Social Security and a pension, but I don't consider that savings. I guess I just look at retirement money differently.
I know what you mean as you clarify it, and it's true the time to be saving money is when you're working as you have vehicles for doing so ( 401K's and IRAs), for the time you won't be working anymore and will need that money. It's just that if you don't spend your entire retirement income ( and it is great to be in that position), what do you call it when you put the rest into a savings account or invest it?
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