U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-28-2017, 06:27 PM
 
Location: Myrtle Creek, Oregon
12,247 posts, read 12,495,497 times
Reputation: 19386

Advertisements

Quote:
Originally Posted by ocnjgirl View Post
Being poor and running out of money are not the same thing. Unless they had $100,000 a year jobs, there is no guarantee that people who live a long time won't run out of money when they get frail and sick. My mom ran through $175,000 in 3 years, between medical care, home health aides and rehabs.


In order to be sure you're not going to run out of money, most people need well over a million by the time they retire. Not everyone makes a ton of money. Heck, I'm single no kids, make a decent salary but aren't going to come close to having enough. I went to college late and paid off student loans until my mid-40's, doesn't leave a lot of time to save enough, and I won't have a home to sell.

It's really odd to imply that anyone, no matter their income, should have enough money saved to live to 100 as long as they didn't have kids.

I'll shut up about this now however, as OP has stated multiple times that money is not his concern.

[CENTER]SaveSaveSave[/CENTER]
If you are single you are, by definition, not a DINK. Dual Income means two incomes. Live on one, save the other. If you do that for 20 years, with SS you should easily have enough to live on for 30 years. Retire at 66 or 67, you will be fine to at least 95, if you live that long, which you probably won't.

No kids means the wife won't have to interrupt her career for the mommy track. Your mom was not a DINK either. She spent her time and money on you.
Reply With Quote Quick reply to this message

 
Old 01-28-2017, 11:26 PM
 
Location: Native Floridian, USA
4,904 posts, read 6,116,810 times
Reputation: 6110
This thread made me think about some things. Thx.
Reply With Quote Quick reply to this message
 
Old 01-29-2017, 04:40 AM
 
Location: Arizona
5,941 posts, read 5,298,958 times
Reputation: 17897
Quote:
Originally Posted by NewbieHere View Post
My sister has the same problem. 10 years and she has not been able to downsizing much. I told her if she is dead, I will throw everything away. Not sure how she takes that. But she keeps coming up with many excuses that she has go through her stuff by herself. Not a chance in hell. So if you worry now, throw away things slowly. Keep absolutely the minimum is my best advice.
Part of it is some people can't stop shopping. If a person would go 2 years without buying anything except for food and bathroom supplies, and throw away or donate 1 item a week, you would be amazed at how much seems to disappear.
Reply With Quote Quick reply to this message
 
Old 01-29-2017, 07:31 AM
mlb
 
Location: North Monterey County
3,179 posts, read 2,854,709 times
Reputation: 4876
The state of California in the past 20 years has seen the wave of DINKS and SINKS increase and has "certified" fiduciaries to help with this wave:

Do You need a Professional Fiduciary? - California Department of Consumer Affairs

But PLEASE BE AWARE - these services are not free.

We are Dinks and will have substantial holdings as we age. We have had experience with one or two of these fiduciaries and find them to be wildly unregulated and private contractors. I have seen and heard of abuses by these folks.

My advice - which we will follow - is to find a family member who will perform these services and offer to pay a stipend for their time and energy. This needs to be hammered out WELL before you become infirm.

We have also had the experience of a Wachovia broker - recommend to my inlaws - HIS FATHER - to perform these services. Red Flags went up fast!

There are all sorts of charlatans awaiting to take your money.
Reply With Quote Quick reply to this message
 
Old 01-29-2017, 08:08 AM
 
Location: Lakewood OH
21,699 posts, read 23,658,574 times
Reputation: 35449
Here are some suggestions that may work for some people.

How to Plan for Aging Without a Family Caregiver - AARP
Reply With Quote Quick reply to this message
 
Old 01-29-2017, 10:04 AM
 
Location: Haiku
4,060 posts, read 2,571,078 times
Reputation: 5982
Quote:
Originally Posted by Minervah View Post
Here are some suggestions that may work for some people.

How to Plan for Aging Without a Family Caregiver - AARP
Two of their recommendations: Develop a social network, and Think creatively.

I agree with both of those. The second one is really the purpose of this thread. The first is not really workable - our social network is mostly our age and won't be in a position to pack boxes etc any more than we will be at some point.

I remember when my mother had a debilitating heart attack at 88 or so. I flew down and spent a week finding a care facility for her, packing up some personal items for her, taking care of her condo, and starting the process of selling her place and moving her to Seattle where I lived. It was a lot of work to sort and pack her stuff and many trips back and forth. I keep asking myself who is going to do that for us, or one of us? Yes, we can pay someone which I am OK with but that means the person is likely a stranger. That makes me nervous.
Reply With Quote Quick reply to this message
 
Old 01-29-2017, 10:09 AM
 
Location: SoCal
13,225 posts, read 6,320,879 times
Reputation: 9827
Quote:
Originally Posted by thinkalot View Post
Part of it is some people can't stop shopping. If a person would go 2 years without buying anything except for food and bathroom supplies, and throw away or donate 1 item a week, you would be amazed at how much seems to disappear.
She doesn't shop, she's hoarding. Save everything kind of person. For example, I served pate from a pate container and she told me to wash and save them. For what? It's a part of mental illness or bag lady syndrome. Who knows?
Reply With Quote Quick reply to this message
 
Old 01-29-2017, 10:23 AM
 
Location: Haiku
4,060 posts, read 2,571,078 times
Reputation: 5982
People who grew up in the Depression had pretty frugal habits is my observation. My mother reused a lot of stuff.

My wife and I wash plastic containers that we bought dip or pate in and re-use some of those for left-overs or for starting plants for the garden, whatever. For us it is not about being frugal, it is about the shocking amount of throw-away packaging we have as a society. We recycle and most of it is plastic packaging.
Reply With Quote Quick reply to this message
 
Old 01-29-2017, 10:26 AM
 
Location: SoCal
13,225 posts, read 6,320,879 times
Reputation: 9827
Quote:
Originally Posted by TwoByFour View Post
People who grew up in the Depression had pretty frugal habits is my observation. My mother reused a lot of stuff.

My wife and I wash plastic containers that we bought dip or pate in and re-use some of those for left-overs or for starting plants for the garden, whatever. For us it is not about being frugal, it is about the shocking amount of throw-away packaging we have as a society. We recycle and most of it is plastic packaging.
She did not grow up in the Depresion area. In fact, she was not like this when she was younger. She saves ramen noodle bowl by the hundreds. And this was suggested at my house, not her house.
Perhaps you should throw things away too.
Reply With Quote Quick reply to this message
 
Old 01-29-2017, 12:40 PM
 
Location: Lakewood OH
21,699 posts, read 23,658,574 times
Reputation: 35449
Quote:
Originally Posted by NewbieHere View Post
She doesn't shop, she's hoarding. Save everything kind of person. For example, I served pate from a pate container and she told me to wash and save them. For what? It's a part of mental illness or bag lady syndrome. Who knows?
I think it does serve some sort of psychological need. I have a friend, twenty years younger than I who just turned 50. I've known him forever, since he was in high school. All this time he has been a major hoarder. His wife has put up with it for years. They were left a beautiful house and furniture from his aunt when she passed away. They destroyed it all. It was so full of their hoarding they closed off rooms that had nothing but his collected stuff.

About five years ago, their house got so full of they actually had to have it condemned and move out. Most of their stuff got destroyed in the process. Now they are living with his mom who won't allow him to hoard. It's a nightmare.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top