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Old 09-06-2019, 03:39 PM
 
Location: Redwood Shores, CA
186 posts, read 54,181 times
Reputation: 178

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As a financial/investment career person, I would say 5-7 years is still plenty of time to invest. Stocks have a 90% chance of positive return when time horizon is 5 years, and real estate has many hot spots. Warren Buffet is way past retirement age and he is still investing. Investing to make more money must always be part of the solution and plan.
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Old 09-06-2019, 03:55 PM
 
Location: SoCal
14,043 posts, read 6,718,100 times
Reputation: 10702
Warren has almost $100 billion in cash.
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Old 09-06-2019, 04:24 PM
 
862 posts, read 415,366 times
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Quote:
Originally Posted by NewbieHere View Post
Warren has almost $100 billion in cash.
Might even be enough to pay for a few years in memory care...
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Old 09-06-2019, 05:38 PM
 
5,768 posts, read 8,884,023 times
Reputation: 4989
SC, your comments about your Mom's spending / hoarding trouble me. It feels like you are airing her dirty laundry in full detail and using your post to shame to and make yourself feel better. It seems she has a mental illness that might be best addressed in the psychology forum to see if anyone who faced the same problem has advice. Compulsive spending and hoarding is a recognized illness and it is not necessary to go into such detail to ask for help.

As for the car, I don't think that replacing a 15 yr old car with a new one is a sign of mental illness. Especially since the old car was having problems. Hondas hold their value and it can make sense to buy new.
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Old 09-06-2019, 07:27 PM
 
98 posts, read 18,384 times
Reputation: 91
Quote:
Originally Posted by Serious Conversation View Post
Really? Can these suggestions be less practical?

1) You save "$100/month by moving?" How much were the initial costsof said move? A "family/friends" move from Indiana to Tennessee cost me about $1,000 with free help on both ends, and few costs beyond the box truck and its gas. I can find other bills to cut for $100/month and avoid the hassles of a major move.

2) "Making my own dog food?" If I really need to cut the bills, the DOG goes! Cute suggestions - impractical or not economical for most.

3) I'd rather the food bank food go to a person than any animal.

4) Not always possible. Lots of people get laid off as they age or have to retire for medical reasons, then take SS as emergency stopgap income. Delay if possible and if it makes sense for your predicted lifespan. You're forecasting an ideal, not what's practical.

5) Not always possible. Many neighborhoods, cities, or HOAs prohibit something like this on well thought through grounds. This invites tons of trouble.

6) Big startup costs. Impractical for many retirees due to initial costs and impractical in many climates.

7) How many clotheslines do you see in new housing developments? That should show how valuable that suggestion is

8) Uh, okay? Firewood is labor intensive, not exactly the forte of most seniors, especially women. Get some gas logs and call it a day.

9) Again, not possible in many cases.

10) Yeah, like this is going to helpful in the Deep South.

1. Correction. I rounded it down but we actually save $125 month by moving.
Our new move is 1 hr away from where I sit right now. we are in the process of doing it. Saving $125 a month is alot to us! We are slowly bringing our stuff to the house using our own pickup.

2. Many people, especially poor folks, consider pets aka dogs as part of the family.

I just paid $3 for 20 pig legs at a Mexican Market.
Added to the organic beef bone broth I got for .25 cents (10 ounces) cartons at a thrift store
Chicken.... which looks pretty bad was discounted to 75 cents a pound at the store.
Add free sweet potatoes from food bank, carrots, canned green beans, rice and you have your dog food!

We don't qualify for the food bank I don't think BUT it's an idea
If you volunteer, you are allowed to have many of the EXPIRED items not legally allowed to be given to humans.
GREAT for dog food.

3. Never said any of these things "were always possible".

Hence why they are just ideas to delay SS IF POSSIBLE. And not all cases, especially if you are on the line to qualify for medical assistance, mean delaying SS is the best option. Something hardly mentioned on this board. Either be far enough above in income it to pay part B+supplement or stay below it to get assistance to pay (medicaid, medicare savings programs)

4. Again, this list is clearly not possible for all. I read these boards alot and appreciate many different ideas being presented. We chose the town we live in out in the boondocks because we have no HOA's, nor COUNTY Codes which apply as no one comes up from the county to check. Ever. It's a high crime area, the road is dangerous. It's cheaper to build our home here than it is to buy a home here in California ( under 85K in the end or close to 100K if my husband doesn't do much of it himself) Not bad at all!

6. Yes it is a large start up cost for a whole house fan. Luckily not everything here will apply to everyone.



7. I wouldn't know how many clothes-lines are in new housing developments. We are far from middle class but not dirt poor either. I've never lived in a new housing tract, sounds nice.


8. Firewood isn't always labor intensive. My suggestion to move may provide lots of fallen dead trees.

On the days you feel like going for a walk, grab a few pieces of firewood. Sure, you may only be able to provide yourself a few nights a weeks worth, but it cuts down on power costs.


9. Most of these ideas are not going to be possible for most people.


10. Not everyone lives in the Deep South. Not all suggestions apply only to the OP as there are a ton of poorer people, such as us, who love reading these threads to get ideas to save. Yes we have some in a retirement acct & some in the HSA but ideally, we'd never use it.

Last edited by SaraR.; 09-06-2019 at 08:47 PM..
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Old 09-06-2019, 07:53 PM
 
Location: Scottsdale, AZ
8,299 posts, read 5,084,223 times
Reputation: 30418
Quote:
Originally Posted by creeksitter View Post
SC, your comments about your Mom's spending / hoarding trouble me. It feels like you are airing her dirty laundry in full detail and using your post to shame to and make yourself feel better. It seems she has a mental illness that might be best addressed in the psychology forum to see if anyone who faced the same problem has advice. Compulsive spending and hoarding is a recognized illness and it is not necessary to go into such detail to ask for help.
Even if you're a mental health professional -- and I doubt you are -- it's a bit careless to be slinging around diagnoses like "hoarding" and "compulsive spending." What should SC do, try to have her committed to an institution because of her Louis Vuitton collection?

She's free and over 21 and can do what she likes with her money. What she likes is collecting handbags and shoes. SC's father doesn't have a problem with it.
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Old 09-06-2019, 08:21 PM
 
5,768 posts, read 8,884,023 times
Reputation: 4989
You are right, I'm not a mental health professional. But mom is buying things she gets no enjoyment from beyond the purchase. I certainly don't have the answer but someone who has been through this either first hand or with a loved one might have suggestions.
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Old 09-06-2019, 08:22 PM
 
Location: Tennessee
24,270 posts, read 18,093,052 times
Reputation: 28546
Quote:
Originally Posted by fluffythewondercat View Post
Even if you're a mental health professional -- and I doubt you are -- it's a bit careless to be slinging around diagnoses like "hoarding" and "compulsive spending." What should SC do, try to have her committed to an institution because of her Louis Vuitton collection?

She's free and over 21 and can do what she likes with her money. What she likes is collecting handbags and shoes. SC's father doesn't have a problem with it.
She's not hoarding worthless things like old food or trash like you see on the hoarder shows. It's just a lot of things that have some worth.

The room would be fine with the amount of stuff in it if it was organized properly. It really looks like someone just threw all the merchandise up in the air and it landed where it landed.

Quote:
Originally Posted by creeksitter View Post
You are right, I'm not a mental health professional. But mom is buying things she gets no enjoyment from beyond the purchase. I certainly don't have the answer but someone who has been through this either first hand or with a loved one might have suggestions.
I don't disagree at all. The joy seems to be the act of shopping and purchasing. Once it's home, it might get used, it might not.

I used to do a lot of stuff from Goodwill that way. I'd buy a bunch of junk on impulse then sort it out when I got home. Some of the items were useful, others wound up at a thrift store later. I think all people do that to some degree, but she just buys expensive purses.
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Old 09-06-2019, 08:48 PM
 
98 posts, read 18,384 times
Reputation: 91
Quote:
Originally Posted by creeksitter View Post
You are right, I'm not a mental health professional. But mom is buying things she gets no enjoyment from beyond the purchase. I certainly don't have the answer but someone who has been through this either first hand or with a loved one might have suggestions.
Dad said "if it makes her feel better" Sounded as if there is some mental issue happening but who knows. I certainly understand your post. It was very well worded
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Old 09-06-2019, 08:51 PM
 
98 posts, read 18,384 times
Reputation: 91
Quote:
Originally Posted by Serious Conversation View Post
She's not hoarding worthless things like old food or trash like you see on the hoarder shows. It's just a lot of things that have some worth.

The room would be fine with the amount of stuff in it if it was organized properly. It really looks like someone just threw all the merchandise up in the air and it landed where it landed.



I don't disagree at all. The joy seems to be the act of shopping and purchasing. Once it's home, it might get used, it might not.

I used to do a lot of stuff from Goodwill that way. I'd buy a bunch of junk on impulse then sort it out when I got home. Some of the items were useful, others wound up at a thrift store later. I think all people do that to some degree, but she just buys expensive purses.
My mom did that most of her life before she passed.Then she started selling at Flea Markets and stuff, making back some of the money she spent shopping since now she shopped at garage sales. At least it halted some her enormous spending. She was diagnosed bi-polar
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