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 03-06-2017, 06:27 PM
 
26,024 posts, read 33,032,767 times
Reputation: 32264

Advertisements

Quote:
Originally Posted by NancyDrew1 View Post
I guess we'll agree to disagree. Because I believe parents need to leave an inheritance, their rightful inheritance, to their children. Remember the kids are the one's responsible for the parents in their old age. So doing the bare minimum up until age 18, well don't assume they'll do any more for you either.

It's part of the love you have for another. Cannot be explained on a message board
Wow. There is no such thing as a "rightful inheritance" for any one. You're saying that parent should leave an inheritance because the children are going o take care of them in their old age? That's absurd.
Reply With Quote Quick reply to this message

 
Old 03-06-2017, 06:40 PM
 
71,763 posts, read 71,853,273 times
Reputation: 49311
i agree , that is ridiculous logic
Reply With Quote Quick reply to this message
 
Old 03-06-2017, 08:02 PM
 
Location: Paranoid State
13,047 posts, read 10,454,884 times
Reputation: 15684
Quote:
Originally Posted by Aredhel View Post
What sense is there in inflating your lifestyle if you don't need to or want to?
^^^ This. ^^^

Reply With Quote Quick reply to this message
 
Old 03-06-2017, 08:22 PM
Status: "Re-edit status" (set 23 days ago)
 
Location: Was Midvalley Oregon; Now Eastside Seattle area
4,199 posts, read 1,912,811 times
Reputation: 3217
Quote:
Originally Posted by leastprime View Post
OP, IMO, you are making a lot of assumptions.

Moving to a higher standard of living, is harder than you may believe when one is used to living within their income. A lot of our new found income has gone to uncovered dental, vision, and insurance deductibles.

We will leave a small legacy to our Only, just as our parents left a small legacy to us.
YMMV
PS. We have more than enough. Our annuities will be throwing off too much retirement income. We have inexpensive LTCi, Our son doesn't need an inheritance from us.
Reply With Quote Quick reply to this message
 
Old 03-06-2017, 09:45 PM
 
Location: Los Angeles area
14,018 posts, read 17,754,097 times
Reputation: 32309
Quote:
Originally Posted by Aredhel View Post
.......................

And this brings up a pet peeve of mine: since when is any frank discussion of financial decisions by those with means automatically humble-bragging? Do people have to pretend to be dirt poor, even though they are not, in order to participate in financial discussions on this board?

I don't think people who retire with little in the bank should be scolded; life can deal blows that can leave anyone poor, and none of us can know for sure what obstacles that person may have faced. And it's not like they have a time machine and go back and fix any past mistakes, anyway. But I also don't think people who have means need to be ashamed of stating that.

I am about 10 years from retirement (I think), and barring significant bad fortune (which could certainly happen: man plans and God laughs), I am on track to being worth a few million when I do retire. That's not "humble-bragging," that's simple fact. Deal with it. I'm not going to pretend to be poor when I'm not, simply to soothe someone else's wounded feelings.

There should be room for posters of all levels of means on this board to co-exist, especially in the Retirement forum.
You are quite right. There is too much tendency to chastise and sneer at those who are different from us, either in their ideas or in their finances. You have no cause to be apologetic, as you so cogently point out.

I can tell you where some of that resentment comes from, however. There are some who have done really well who just can't hide their scolding and condescension. If everyone were more like you, that is, if none of the successful people really had any condescension to hide (if I read you correctly you do not), then the hostility would be much reduced. Notice I wrote much reduced, not eliminated entirely, because envy and jealousy on the part of those who have less lead to resentment and hostility - again, not among all of course, but among some.

This is all part of a broader picture which transcends finances, namely that being insulting elevates the insecure in their own eyes over the people they are insulting. There seems to be a special resentment reserved for those who want to continue working indefinitely rather than retire as soon as possible; they are "narrow minded", have a "tunnel-vision view of themselves", have "no life", etc. That always irks me even though I retired gladly at age 61 and have always had lots of interests. Could it be that the very idea of work being gratifying, rewarding, and fulfilling provokes jealousy and resentment? Why can't we just have different interests and values without the hostility?
Reply With Quote Quick reply to this message
 
Old 03-06-2017, 10:21 PM
 
10,819 posts, read 8,073,350 times
Reputation: 17034
OP has been banned. Don't feed the faux-newbie troll.
Reply With Quote Quick reply to this message
 
Old 03-06-2017, 10:44 PM
 
Location: Lake Oswego, Manhattan, Aspen
3,236 posts, read 4,213,582 times
Reputation: 11637
Is THIS what retirement is like? People talking in retirement plan/account/strategy acronyms, all day long? This, on top of all the cutesy acronyms and abbreviations for ailments and treatments - and on top of all the medications named to sound like they're your new best friends? (Abreva, Boneva, Spiriva, Januvia...).

If that's the case, then I won't let anybody my age anywhere near me! Oy! It wants me want to jump off a cliff, listening to all that.

And, for the record, I don't plan on withdrawing diddly. Not that I have much money in "plans", anyway. Saving a bit on taxes, for me, wasn't worth the loss of control. Anyway, the PLAN is to keep socking-away money until the day I croak. Wealth is power. I don't want to EVER be powerless, ever again.

The kids have had trust funds since they were born (the two youngest, since BEFORE they were born...), and so, even if there are huge reversals and judgements and confiscations and pogroms, directed at DH & me, money is still in the family. Now, we're building trusts for the grandchild who's arrived, and for the theoretical ones.

Not that I plan on actually retiring... My uncles, also owners of 'The Means of Production', are still running things in their seventies and eighties. Any money I have in accounts, is liquidity, for defending my other assets, should the need arise, or for treatments, should I become ill. I'd be a fool to spend-it-down for no good reason.

And truly, with the fabulous amounts I'm hearing about people getting from their pensions, I'd hope MOST of those folks are building up their estates, rather than frittering them away.

You never know what's around the corner.
Reply With Quote Quick reply to this message
 
Old 03-06-2017, 10:45 PM
Status: "Re-edit status" (set 23 days ago)
 
Location: Was Midvalley Oregon; Now Eastside Seattle area
4,199 posts, read 1,912,811 times
Reputation: 3217
This is a poor reason to ban OP.
In fact, IMO, the Gen X , Y, and Millinum generations, May be forced to seriously look at 2% SWR.
YMMV
Reply With Quote Quick reply to this message
 
Old 03-07-2017, 12:12 AM
 
6,307 posts, read 4,752,208 times
Reputation: 12919
Quote:
Originally Posted by leastprime View Post
This is a poor reason to ban OP.
In fact, IMO, the Gen X , Y, and Millinum generations, May be forced to seriously look at 2% SWR.
YMMV
We have been hearing the same gloom and doom since the great recession, yet my returns have never done better, inflation remains low, and there are tons of good jobs with employers trying to fill those positions. Why would 2% seem to be coming in the future?
Reply With Quote Quick reply to this message
 
Old 03-07-2017, 12:36 AM
 
Location: Western Asia
3,187 posts, read 1,447,142 times
Reputation: 2524
Quote:
Originally Posted by brava4 View Post
Ha! I have a friend who says she is not leaving a dime to her kids. She has put them through school to masters level, one Law school, all are 35yr and older. She said enough!!!


But I can see if someone has much younger children, things could be much different for them.
Everyone will justify what they want to do in the end and some may have no choice but to burn through their money. We would like to leave each kid at least $1M, that is our wish.
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
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