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Old 12-14-2018, 03:44 PM
 
71,700 posts, read 71,801,099 times
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you should be.. just curious why you let him save nothing ? my wife would have set me straight if i neglected things like savings
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Old 12-14-2018, 03:49 PM
 
Location: Dallas TX
15,030 posts, read 21,753,522 times
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Quote:
Originally Posted by mathjak107 View Post
you should be.. just curious why you let him save nothing ? my wife would have set me straight if i neglected things like savings
I didnít let him do anything. I told him time and time again to open one up. He wouldnít. I canít force him to, heís a grown man.
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Old 12-14-2018, 03:53 PM
 
71,700 posts, read 71,801,099 times
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well i don't get involved in the relationships of others , but in my case , oh yeah she would have put her foot down and made me lay out a plan . she is very keen on her security after losing her first husband at a young age .

in fact i consider myself pretty savvy financially but i don't make a move without bringing her in to the loop and making sure she agrees with what i do .

she was financially ignorant and it burned her once already . as they say " never again "
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Old 12-14-2018, 04:43 PM
 
2,446 posts, read 2,073,760 times
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Quote:
Originally Posted by mercedesmarcelina158 View Post
The gentleman portrayed in the story is over 80 years old. When I was a teenager, over 50 years ago, I knew a lot of working class individuals just like this. Most never graduated from high school, and if they did, it was considered a big deal. Quite a few of my friends parents never graduated from high school, and if they did it, was considered a big deal. The father of my boyfriend when I was 16 years old worked in a sheet metal factory in Baltimore and had only in eighth grade education, like many of his coworkers. He was able to support a stay at home wife and 4 children, not lavishly, but adequately. They owned their own home and had one car. Vacations were visiting family a few hours away. Back in those days, not a lot of people had a college education and it was not expected that you needed one in order to get a job that could support a family. Now days you need a minimum of a college degree just to work at McDonaldís
I did not know that.
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Old 12-14-2018, 05:05 PM
 
Location: SoCal
13,252 posts, read 6,345,210 times
Reputation: 9873
Quote:
Originally Posted by veuvegirl View Post
I didn’t let him do anything. I told him time and time again to open one up. He wouldn’t. I can’t force him to, he’s a grown man.
He maybe, but he’s married to you and that means you will be affected. I do our taxes so I put some money into Roth IRA or TIRA. I wouldn’t sign the tax form if I were you.
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Old 12-14-2018, 05:48 PM
 
Location: NYC
2,917 posts, read 1,591,544 times
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Originally Posted by emm74 View Post
...
And there is also no explanation about why he would still be paying a mortgage now, 24 years after losing his job, after having a good job for 29 years.

...
Probably for the same reason my 92yo mother would still be paying one before we got her a reverse mortgage 5-6 years ago - several years of medical expenses piling up & refinancing the mortgage a few times to lower rates to free up some cash flow for immediate needs.
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Old 12-14-2018, 06:26 PM
 
Location: Denver CO
21,179 posts, read 11,803,134 times
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Originally Posted by Hefe View Post
Probably for the same reason my 92yo mother would still be paying one before we got her a reverse mortgage 5-6 years ago - several years of medical expenses piling up & refinancing the mortgage a few times to lower rates to free up some cash flow for immediate needs.
Maybe yes, maybe no. Poor journalism means we are left to speculate about what should have been a very obvious question
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Old 12-14-2018, 06:29 PM
 
227 posts, read 102,411 times
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Quote:
Originally Posted by veuvegirl View Post
I donít think hubby and I will ever be able to retire. I am terrified, we have hardly anything saved, and have gotten deep in debt. My husband lost his job two years ago and we have had a hard time getting back in our feet. To top it off he refuses to put anything into a 401k.

He has 9 years until he is 65. I am absolutely terrified.

Are you working veuvegirl and contributing to a 401k yourself? If not, can you? They say the best course of action for worry is action. You will feel better if you can at least take care of yourself and have your own work retirement plan. You probably have 10+ years until 65?
Can you ask him to explain his plan for income for retirement? Insist that he think about it and explain it to you!
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Old 12-14-2018, 06:57 PM
 
Location: Dallas TX
15,030 posts, read 21,753,522 times
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Quote:
Originally Posted by sparkypeanut View Post
Are you working veuvegirl and contributing to a 401k yourself? If not, can you? They say the best course of action for worry is action. You will feel better if you can at least take care of yourself and have your own work retirement plan. You probably have 10+ years until 65?
Can you ask him to explain his plan for income for retirement? Insist that he think about it and explain it to you!
Yes, I have my own 401K and am putting as much away as I can. He just opened one up this year. So at least itís something. I just hate where we are, but know we are not alone.
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Old 12-14-2018, 07:03 PM
 
227 posts, read 102,411 times
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Quote:
Originally Posted by veuvegirl View Post
Yes, I have my own 401K and am putting as much away as I can. He just opened one up this year. So at least itís something. I just hate where we are, but know we are not alone.

Good luck.
Be stern with him and take care of yourself.
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