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Old 03-31-2016, 12:55 PM
 
8 posts, read 4,139 times
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Amen friend!

I never could understand why i was suppose save close to half my paycheck for retirement in some mutual fund that isn't even guaranteed and even it was FDIC insured I still wouldn't trust it! As we got a little glimpse of what happened back in 2007/08.....

I have come to believe it is part of the institution to drive us and be controlled and have some status quo! I personally want no part of it, we rcvd a sizeable tax return this year, well what I consider sizeable, anyway oh save it for a rainy day everyone told us, while a little emergency fund is a good idea we happen to live in Oregon where everyday can be a rainy day! so we got online booked a vacation package to Disneyland for two adults and two children and away we went! first family vacation we have ever had and I don't regret a minute of it! that is what i will look back on, those memories truly are priceless!!!
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Old 03-31-2016, 02:08 PM
 
71,511 posts, read 71,674,131 times
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get back to us when you are retired . let us know how that thinking worked out for you .
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Old 03-31-2016, 02:21 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,923,045 times
Reputation: 6716
Quote:
Originally Posted by funisart View Post
That's a lot for dental. Fortunate that we haven't had anything like that. We opted not to re-up our dental insurance because without employers paying, it cost way more than it was worth...
Implants - crowns - caps - bridge work - root canals - etc. All of them are expensive ---> very expensive. And - even if you have great teeth - if you live long enough - the odds are you'll need some work like that (a lot of people are lasting longer than their teeth these days). My father had to have some old bridgework he got in his 70's-80's replaced a couple of years ago when he was 95.

I think you're right about the dental insurance. And - best I know - dental insurance doesn't cover most of the "high priced spread" stuff.

Just to give younger people an idea what we're talking about when it comes to Medicare - our Medicare Parts B and D and a Medigap policy cost us close to $8k/year now. Without any surcharges. And they have to keep in mind that Medicare doesn't - for the most part - cover things like glasses - hearing aids - dental and the like. Robyn
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Old 03-31-2016, 02:23 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,923,045 times
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Quote:
Originally Posted by freemkt View Post
I get by on less than $15,000 a year. Why would anyone need $1.8 million?
Maybe because they don't want to live like you do? Robyn
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Old 03-31-2016, 02:29 PM
 
71,511 posts, read 71,674,131 times
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dumpster diving is not something i want to do but 15k here in ny would get me evicted .
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Old 03-31-2016, 02:39 PM
 
1,471 posts, read 1,299,283 times
Reputation: 1316
Quote:
Originally Posted by DaveinMtAiry View Post
We all live our lives differently and I'm certainly not going to tell the poster who never took a vacation that they were wrong.
It's not that they are wrong or right it's just that I couldn't imagine going that long without a vacation. I think I've gone five years at most without a vacation. Pretty sure if I went that long & chucked my best social years for work I'd have gone nuts long ago.

Quote:
Originally Posted by Serious Conversation View Post
Even at my age, I've had a very interesting last five years. Maybe I shouldn't have done some of the things I've done (that move to Iowa and year back in Kingsport was a huge financial mistake), but even those financial errors have led to a lot of interesting experiences most people don't get to have.
I think you've hit on a key difference between the generations - We would generally rather have the experience and memories than stuff or the big house.
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Old 03-31-2016, 02:40 PM
 
Location: Tennessee
23,572 posts, read 17,544,804 times
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Quote:
Originally Posted by unsustainableme View Post
nice, way to include all factors!

and I'm worried all my social security i have paid in since i was 15yrs. old won't be available for redemption when i retire at my scheduled year of 2032.....too many baby boomers collecting while not enough of the generation X's or the millennials paying in , its sure to be a bust.....I hope I am wrong....but then again I was told since the age of 20 not count on Uncle Sam to cover my golden years.....and those golden days are coming a lot faster then I would have ever thought!!!! damn i hate it when that happens.....
To me, SS feels completely confiscatory. Looking at the coming Boomer retirements, I don't see how it will make it without significant new revenues, benefit cuts, or some combination of the two.
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Old 03-31-2016, 02:49 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,923,045 times
Reputation: 6716
Quote:
Originally Posted by Serious Conversation View Post
Millenials may want some sort of work after their traditional career is over, but I can't imagine most folks wanting to work an office or physical job until they basically fall over.

My five year plan is to be in FL by the time I'm 35. I'll have to work, but would be very willing to dial my lifestyle back to be able to enjoy the outdoors more and not feel confined to staying up north where the wages are higher.
My husband and I moved to Florida in our 20's - a couple of years after we got out of school. We worked pretty hard and did pretty well. Main difference between Florida and up north was - when we got time off - we could usually enjoy it outside. And weren't cooped up in the house due to bad weather a lot of the year.

Note that my husband and I are both lawyers. And moved at a good time. When Florida needed lawyers and the profession was starting to go great guns here. That is not the case today. Also - a lot of Florida has very few well paying jobs. Probably even fewer than in many parts of Tennessee.

As for that laid back Margaritaville lifestyle. Well you used to be able to buy it for the proverbial song. When we moved here. But that was 40+ years ago. Our first apartment - waterfront in a nice part of Miami - cost us about $375 month IIRC. That building went condo a long time ago. And was recently bought in whole by a developer that will tear it down and build a 48 story luxury condo in its place. Where prices will probably start at well over $1 million.

In any event - if you want to do a reality check - go to the Florida forum. Or you can watch this Youtube and spare yourself the sarcasm you'll often find there:


https://www.youtube.com/watch?v=ad5paRXNWVg

Robyn
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Old 03-31-2016, 03:00 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,923,045 times
Reputation: 6716
Quote:
Originally Posted by mathjak107 View Post
get back to us when you are retired . let us know how that thinking worked out for you .
If that's a response to unsustainableme - I disagree. I think there's a middle ground. Between either spending or saving obsessively when one is younger.

Also - there are things you can do when you're younger that are difficult or impossible to do when you're older.

OTOH - if unsustainableme doesn't have an emergency fund - well I disagree with that too. I have some people who work for me - like landscape guys - and they can't even afford to buy a new (used!) tire when they need one. That's no way to live either. Especially if you have kids. Robyn
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Old 03-31-2016, 03:05 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,923,045 times
Reputation: 6716
Quote:
Originally Posted by Port Pitt Ash View Post
...I think you've hit on a key difference between the generations - We would generally rather have the experience and memories than stuff or the big house.
I think it's nice not to have to choose:


https://www.youtube.com/watch?v=6Y5LiT2D2nE

Which is why I encourage younger people to make the most of their jobs/careers/professions. Robyn
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