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Old 09-15-2019, 02:19 AM
26,578 posts, read 28,980,595 times
Reputation: 25594


Originally Posted by TheShadow View Post
OT but....As far as shoes and purses, I am GUILTY AS CHARGED.
The problem isn't that people have lots of shoes and purses. It's when you have shoes and purses you barely even wear in lieu of retirement savings. It's more about whether you can afford those extras or not. SeriousConversation's parents can't. Yet they neglect home maintenance and retirement savings for shoes, purses, and new cars. I'm grateful my parents aren't like that.
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Old 09-15-2019, 02:27 AM
26,578 posts, read 28,980,595 times
Reputation: 25594
Originally Posted by jasperhobbs View Post
Yeah but how many would want to do that.
Most probably don't. But here's the thing--Lots of people don't want to do what it takes when they're younger for a decent retirement, either. Nobody has it all. If you want to live up to your income level your whole life, then you're not going to have many options when you're older.
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Old 09-15-2019, 02:37 AM
Location: Prepperland
13,960 posts, read 10,020,851 times
Reputation: 10161
Acquire rental property and collect rents as a landlord.
If too much work, hire a property manager.
Set up or buy a mobile home park, and milk that cow for all its worth.
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Old 09-15-2019, 03:07 AM
26,578 posts, read 28,980,595 times
Reputation: 25594
Originally Posted by fluffythewondercat View Post
Just about everyone has an emotional relationship with money. Your mother's is only more nakedly obvious than most. Your father understands this. Have him explain it to you. Oh wait, he already did: "It helps her feel better."

If we were all compelled to be honest, that's what we'd all say: "I bought that boat because it makes me feel better about myself." Or "I bought that high-end Mac because I feel I deserve it."
Well, the thing is, the "feel better" doesn't last long. At what point do you admit it's not working?
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Old 09-15-2019, 03:57 AM
4,593 posts, read 2,754,307 times
Reputation: 10865
My OH is 60, i will be 56 in a week and a half.

My OH already knows will be working til age 70, if anyone will keep my OH on. Since my OH has something excellent of a work ethic, and is very reliable, that may happen. But, my OH has large gaps in work history, for example when European grandmother passed, my OH lived on the smaller inheritance, and should have continued working, but water under the bridge.

I was already medically retired at age 40 due to my multitude of health issues, but thanks to Bush jr, i am allowed to work part time and off and on I do as i am able. I have found a couple of 8 hour days now wears on me quite badly, so looking for shorter shifts over a few more days. Id like to go back to work full time in a sitting position, but those types here are fiercely competitive here.

If i could steadily work part time till age 70. Ive got 14 years, and 10 for my OH.

In the past 4 years, we had bought a house with 10% down, but rapidly worked hard on paying it down, and shaved off 12 years of the mortgage (maybe a few more), and then stopped that to concentrate on more investing for retirement.

Our goals in the 10-14years, and they will be tight, will be to:
1) get the house paid completely off.
2) get the (financed) renovations paid off and invest that extra into retirement
3) save as much into our ROTH s as possible
4) go down to one newer used car for retirement.
5) not touch retirement until absolutely necessary. If we can let it grow and not touch even the interest, itll be to our benefit.
6) move to a lower cost/warmer climate.

All that, ( plus probably something ive forgotten) IS assuming either or both of us live that long. By age, even in older years my OH should go first, by health, I'll probably go first.

The problem will not be so much the two of us, but when there's only one of us left. That will be the thorn in our plan.

We will reconsider my OH taking SS at FRA (66, 10 mos) and working, or letting it continue to grow to age 70. We'll run the numbers then as now is all assumptions. ( for instant my OH s one job cut my OH back to just 4 hours this past sumer, instead of thec20-25 usually gotten, and instead of the summer cut hours of 12-16 my OH usually gets when college kids come along for the summer. I hope i explained that so its understandable. No raise there either except for the rise in minimum wage.
My OH s other jobs a health care adjunct job. And got a fairly decent hourly raise this summer, and is well above the first job, but has fewer hours. But has no guaranteed hours.

My OH really needs new jobs, but is *afraid* of change, lol.

My OH wants to retire like NOW, but my OH knows has to really work until Medicare kicks in at 65, and i pointed out its only 1 yr, 10 mos to FRA, might as well keep working. My OH agreed. Now to age 70 my OH s expected SS will only be what my SSDI is NOW, so my OH is way short, and unfortunately, will have to earn sone kind of paycheck until then to make it ut a decent SS check. My OH knows that. My OH, in working years past also only worked enough to pay the bills, not fulltime or for extra, which is now being detrimental to my OH s retirement. ( hope young FIRE people read that, as could happen if their money does not hold out).

We'll manage though, somehow. We always have, even this summer with short hours for my OH. Didnt get to add to savings. But survived without dipping into savings.

Best of luck to all who will be tight for retirement.

Maybe ill be a door greeter at wally world.....

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Old 09-15-2019, 05:16 AM
248 posts, read 115,713 times
Reputation: 340
Sounds like you've done well to have such a good plan to focus on galaxyhi.
Action cures anxiety.
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Old 09-15-2019, 11:43 AM
Location: Tennessee
34,921 posts, read 34,064,034 times
Reputation: 52453
Obviously, the key to having enough money in retirement is to be boring, like me. I have always been like this so I didn't have to work on changing my ways to afford retirement.

Moved to a low cost of living state.

I have no kids (therefore, no grandkids) so that takes care of one big potential expense many other people have.

Because I have a pension (no social security), I know how much money will come in every month so that made it easier to go from working to retirement. I actually have more discretionary money now than I did when I was working, again...because I'm boring but now I don't have the expenses that go with working (clothes, dry cleaning, gasoline, car wear and tear, chip in gifts, eating out for lunch, high cost of living state). Haven't touched my savings in retirement and I put money away every month, still.

I have medical issues but now I'm on Medicare plus I still have the insurance I had when I was working to which I still contribute via pension deductions.

I pay off my credit card in full every month. No loans.

I hate shopping. I have always hated shopping. I have like 20 embroidered tops, all the same except for the color. Makes shopping less of a chore (which I do online). All of my clothes are washable and don't need ironing or dry cleaning. I have 3 pairs of expensive shoes that are "special shoes" as I have a mobility problem, now. Gave the others away. I have 3 purses but I still haven't used the one I bought a year ago. Not only do I not have any name brand clothes or any accessories, I don't even know what the current name brands are to know if I'm missing anything. Just not interested in fashion. Never was.

Don't wear jewelry but I wear an inexpensive watch. I bought it when I had cataracts. I wanted one with big numbers. Now it's a habit. I have 4 of them in case I have to replace the current one and they stop making this one.

I bought a new car in 2015. It was the exact same car I had before that one for 10 years. Just a different color. No car loan. Did I mention I hate shopping? I have close to 11,000 miles on it. I bought it again because it's easy to get into with my legs and it has an actual trunk for my camera equipment. I gas it up maybe every 3 - 4 weeks. I usually take one or two road trips every year for photography (my hobby) but not this year. I take outdoor photos on these trips and eat take out/delivery. I get up and out too early to even take advantage of free breakfast in the hotels. Wear play clothes every day. Point is, my road trips are relatively cheap except for the hotel.

My Samsung TV is 27 years old. I like flat screen TVs but this one still works. I'll get a new one when it breaks. I don't have a smartphone although I do have a cell phone. I don't feel like I need a smartphone and wouldn't get the use out of it that most people do. Don't have a landline.

I rent. It's easier for me. Maintenance takes care of most things. My rent has just hit what I was paying in my previous state, 12 years ago, and this apartment is bigger (2b, 2b).

My biggest expenses after rent are:

cable (TV and computer)
car insurance (renter's insurance is fairly cheap)
new glasses annually
a woman who cleans for me because I can't do it physically, anymore.
camera equipment (but it costs me nothing to actually do my hobby so if I did it 5 days a week or 1 day a week, it would cost the same nothing except maybe for gas)
food (I typically eat 2 meals a day but I do get a lot of take out)

The State Parks here are free as is The Great Smoky Mountains National Park. The rangers hold special events. You don't pay for parking. I've never been on a toll road or paid a bridge toll in this state. Have a lake at the end of my road and an arboretum in town (no fees). Between Memorial Day and Labor Day there are free concerts in the park by the Community band. The town parks, including one that goes along the lake, have walking, rollerblading and bicycle trails. We host regattas for college rowing teams in the US and Canada and we have an annual festival and a Christmas parade. All are free. There is no state income tax for most people but there is a tax on interest and dividends and we have a sales tax.

Guess the point is what do you want to do in retirement and how expensive are your tastes?
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Old 09-15-2019, 03:13 PM
Location: Tennessee
24,512 posts, read 18,257,844 times
Reputation: 28805
Originally Posted by TheShadow View Post
So she's actually not a hoarder, more of a shopaholic. I sometimes have a bit of that myself. For me it had to do with boredom, and a low level of "background anxiety". I realized that it occurred when I was bored at my job, and yet simultaneously I was worried about my job. I know some shopaholics are also suffering from depression. Shopping provides a momentary hit of endorphins when you feel you've found things that you want, and then attain them. It sounds like some of this might apply to your mom. I know it's a tough one to get someone else to see, but perhaps suggesting therapy???
That's probably all part of it.

With that said, I don't know what that solution is. Lots of people do something like this. It might be cars, boats, or whatever, but a lot of folks have a big money drain.
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Old 09-16-2019, 08:54 AM
Status: " ." (set 13 days ago)
161 posts, read 35,180 times
Reputation: 259
Originally Posted by TheShadow View Post
I've seen some organic farmers do this with a flat, box-shaped wire mesh cage, mounted to a PVC frame, floating on pool noodles over the pond to create maggots for the fish. The person who made it used road kill as the meat, so totally free fish food. I wouldn't use goldfish, I'd use tilapia, so it's food for the pets and us. And I'd put the pond outside. In a greenhouse it would raise the humidity, and the stink from rotting meat, to unacceptable levels. Too much humidity in a green house can cause plant diseases like powdery mildew. All greenhouses would have some ventilation, of course, but I think that a pond might be too much for the ventilation too handle, and the stink would make caring for your vegetables unpleasant.

In addition to your compost pile, you can raise worms yourself, and compost kitchen waste, in a worm farm. There are lots of plans on-line, or even fancy ready-made ones like this one from Amazon...

Great Ideas, thanks! That seems a much easier avenue regarding maggots!

We planned to have our own compost pile full of worms too.

We cannot do tilapia or we'll have to heat the pond.

Some catfish, bluegill yet mainly, rainbow trout.
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Old 09-16-2019, 08:55 AM
Status: " ." (set 13 days ago)
161 posts, read 35,180 times
Reputation: 259
Originally Posted by StealthRabbit View Post
  • Find a robust, long service vehicle, that runs on free fuel (Homebrew).... (VW diesel Rabbit for me, since 1976). Off season, Use green house to grow algae for fuel.
  • Run your tractor and genset on free fuel,
  • Heat living space via engine heat from genset
  • Sell excess power back to the utility
  • Use annualized solar (store summer heat for winter use)
  • Build a 20,000 ga rainwater recovery, and reuse gray water
  • Barter
  • Glean
Great ideas, thanks.
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