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)
 
Old 06-03-2019, 11:14 AM
 
Location: In a vehicle.
5,026 posts, read 3,211,192 times
Reputation: 8217

Advertisements

I find some of them rather strange retired folks would do them.


Like tattoos...I mean really?

Eating out once every 2-3 weeks isn't a budget killer...

I laughed at the 401K....First, most of the employers have a 5 year "growth" built into it. You get 20% then 40% then 60%...It works if you're at an employer for 20+ years. But this is for retired...so how does a retired person lose out?

Lottery? Hells Bells, go see casinos...I have played at one and I heard the call "Changing $2,000" THREE times in 2 hours...meaning the player had put in $6K into the game...Blackjack if you wondered. This was a guy who was a retired railroad engineer....You see older players way more than youngsters...

The guy who hacked this out seems to be quite the "Attitude" of "Listen to me, I'm so smart"....
Reply With Quote Quick reply to this message

 
Old 06-03-2019, 11:56 AM
 
Location: Scottsdale, AZ
7,627 posts, read 4,686,468 times
Reputation: 27916
Quote:
Originally Posted by Disgustedman View Post
The guy who hacked this out seems to be quite the "Attitude" of "Listen to me, I'm so smart"....
And his acolytes are all, "If you don't do what this guy says, you can never go on welfare or enter a government program." Like you and I haven't paid taxes our entire adult lives.

Unpleasant lot, this whole bunch. Whatever happened to live and let live? Aren't there enough people already who are all-too-eager to tell us how to live our lives?
Reply With Quote Quick reply to this message
 
Old 06-03-2019, 11:57 AM
 
9,151 posts, read 7,211,418 times
Reputation: 13848
Quote:
Originally Posted by ohio_peasant View Post
The accumulated benefit of foregoing small but recurring costs, grows substantial only if we assume good annual rate of return, compounded over many years. Presumably the people who can't find $400 for a sudden emergency aren't much adept with stock-market investment, or really any investment. Their idea of savings and investment is the local bank. Their savings lose money to inflation every year... and they're on the hook for income-tax on what meager interest-rate they do manage to earn. Foregoing 100 lattes this year, might mean the capacity to buy only 50 lattes a couple of decades from now. In other words, splurging on the lattes is actually a better investment for such people, than foregoing the near-term wants, in favor of trying to amass greater resources long-term.
Okay, now factor in an emergency which requires $400 which I haven't saved. Factor in the stress of knowing I don't have the money, knowing I must either borrow it or put it on my credit card which charges interest.

Factor in paying the bill each month, the stress of seeing the interest added to the bill and knowing I'll be doling out an extra $50 or more over the course of paying it off.

If I couldn't save $400 in the first place, where is that extra going to come from? I'd be thinking that I wish I had cut out the coffee shop lattes and saved an emergency fund, because I dang sure can't afford to pay out an extra $50 this year, if money is that tight. And I don't like feeling anxiety when bills are due each month, either. For me making my own coffee at home is well worth the peace of mind.
Reply With Quote Quick reply to this message
 
Old 06-04-2019, 07:14 AM
 
78,858 posts, read 33,547,251 times
Reputation: 15794
Quote:
Originally Posted by NewbieHere View Post
I took a mortgage in retirement, Iíll be stupid not to, at 3.5% interest rate, Iíve esrned at least twice that rate from my investment.
A lot of people took that viewpoint and then lost their shirts when the markets crashed.
Reply With Quote Quick reply to this message
 
Old 06-04-2019, 07:15 AM
 
78,858 posts, read 33,547,251 times
Reputation: 15794
Quote:
Originally Posted by jaminhealth View Post
I didn't see a list, but what stands out to me is a $160 Coach bag many years ago, I never used it and it went to goodwill a few yrs ago. I never liked it but didn't take it back.
I am no expert but I would bet a vintage coach bag in excellent condition would have brought a good bit of money. A quick eBay glance has some selling for $300-$400 dollars.
Reply With Quote Quick reply to this message
 
Old 06-04-2019, 07:58 AM
 
Location: Philadelphia/South Jersey area
2,871 posts, read 1,401,499 times
Reputation: 10071
Quote:
Originally Posted by jaminhealth View Post
I didn't see a list, but what stands out to me is a $160 Coach bag many years ago, I never used it and it went to goodwill a few yrs ago. I never liked it but didn't take it back.
I think we all have those things. lol, actually they some times are the best teachers. Case in point, my youngest son had to have this "samurai" sword he saw in Disney. Just had to have it and no matter how much I tried to convince him that he would be wasting his money because I knew he would not play with the thing once we got to the hotel room, let alone getting home, he swore up and down that this was what he wanted.

So yep we let him buy it, it wiped out all the money he saved for spending money and as I predicted 2 weeks later he was moping around the house because he had no more spending cash and the thing was not as "cool" as it was in Disney.

He remember that feeling for a very long time and I really think it's why he thinks hard and long when outlaying a huge (for him) wad of cash.
Reply With Quote Quick reply to this message
 
Old 06-04-2019, 08:02 AM
 
Location: Philadelphia/South Jersey area
2,871 posts, read 1,401,499 times
Reputation: 10071
Quote:
Originally Posted by pknopp View Post
A lot of people took that viewpoint and then lost their shirts when the markets crashed.
Sorry but then that is called poor asset allocation. right now most of my retired friends (with mortgages) have 2-3 years of cash sprinkled throughout their savings. We know a bad market is coming, we don't know when or how bad but we know this bull run can't last forever.

the 2007 crash lasted about 18-19 months. nothing changed for me except I cut back a bit on spending.

you definitely should not have to sell your house or refinance your mortgage because we enter into a bear market.

actually I probably will end up buying a second home in a bear market with a mortgage. I want a beach house and I have no plans on using my funds when mortgages are still low, although I have not look into financing a second home, I believe that's a bit different. stillain't using my money though.
Reply With Quote Quick reply to this message
 
Old 06-04-2019, 08:03 AM
mlb
 
Location: North Monterey County
3,179 posts, read 2,854,709 times
Reputation: 4876
Quote:
Originally Posted by NewbieHere View Post
I finally tore new pair of cargo pants while playing pickleball, now I can give my pants to my art teacher. And Iíve been using a belt to hold the pants up, because the front button is missing. And I also use a safety pin to hold one of the belt hooks in the back.
You canít get anymore frugal than that, even for a non frugal person. I know Iím a very lazy person., thatís how. Solve my problem with clothes.
You should learn to sew.
Reply With Quote Quick reply to this message
 
Old 06-04-2019, 08:56 AM
 
Location: SoCal
13,216 posts, read 6,313,926 times
Reputation: 9827
Quote:
Originally Posted by pknopp View Post
A lot of people took that viewpoint and then lost their shirts when the markets crashed.
A lot of people lost their shirts in 2009, I didnít. I was in cash. I guess Iím not a lot of people. Besides my SS and pension can pay for the mortgage.
Reply With Quote Quick reply to this message
 
Old 06-04-2019, 08:58 AM
 
Location: SoCal
13,216 posts, read 6,313,926 times
Reputation: 9827
Quote:
Originally Posted by mlb View Post
You should learn to sew.
I know how to sew, I did my curtains and my couch slipcovers, and lots of clothes when I was younger too. I’m getting lazier in my old age. If a safety pin can do the job, why bother.
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

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