U.S.Workers and retirement?

[piemma]

Originally Posted by bassballer

Living like your poor now for more money tomorrow, or being extra frugal so you can enjoy retirement just isnt my wheelhouse. Were put on this earth for a short period of time. When i look back it will be the moments I was snowboarding in vail, fishing in tortola, and getting hammered in italy that will make me smile. Not me sitting on my deck drooling on myself in Florida. Waiting to give all my money to my kids. Save some, spend some!

Different strokes for different folks.

[FishermanTim]

Originally Posted by bassballer

Living like your poor now for more money tomorrow, or being extra frugal so you can enjoy retirement just isnt my wheelhouse. Were put on this earth for a short period of time. When i look back it will be the moments I was snowboarding in vail, fishing in tortola, and getting hammered in italy that will make me smile. Not me sitting on my deck drooling on myself in Florida. Waiting to give all my money to my kids. Save some, spend some!

But if you don't plan for your "non-working" years, all you will have is your memories...until they go as well!

I don't live a miserly life but I budget myself with the funds that are left AFTER putting funds into my retirement account.

I tell my family that if I don't need it, I don't buy it!
If I want it, I save up for it with before mentioned "after savings" funds.

I grew up in a large family, so I learned how to "do without" from an early age. Iwince whenever I see parents doling out money for the "fad of the day" for their kids, only to hear them complain that they can't afford to fix the house, the car, their teeth or take care of any other problem that should have been a priority from the get-go.
Too many parents want to buy their kids affection, and end up sending themselves on a path to the poorhouse in the process.

Remember when every kid NEEDED to have a pair of Reeboks, or some clothing article they grew out of on the way home? Now it's the newest electronic gizmos that are obsolete the day they come out!

How many times do you have to "upgrade" any of your devices simply because the company fixed another ONE of their bugs?

I say keep it simple, spend less, save more and you too should be able to ENJOY your retirement years and not have to work through them just to survive!

[Swimmer]

Originally Posted by bassballer

Living like your poor now for more money tomorrow, or being extra frugal so you can enjoy retirement just isnt my wheelhouse. Were put on this earth for a short period of time. When i look back it will be the moments I was snowboarding in vail, fishing in tortola, and getting hammered in italy that will make me smile. Not me sitting on my deck drooling on myself in Florida. Waiting to give all my money to my kids. Save some, spend some!

When your sixty five you'll change your tune.
Posted from my iPhone/Mobile device

[Jenn]

Originally Posted by Swimmer

When your sixty five you'll change your tune.
Posted from my iPhone/Mobile device

Yeah I agree with "living in the now" and enjoying life now but still trying to be smart for later and I feel like I don't have much extra for either! Now I am not going to say I am starving and living out of my car but at the same time I don't feel I am spending a whole f of a lot like many folks are. I don't eat out, have a new truck, a $300,000+ house, fine clothes or a huge bankroll. I squeak every week on bills, put a little away in my 401K, pay my bills, etc. but at the end of the day I am still left wondering where will I get the $$ to get new windows, new towels to replace my 14 year old rags or pay for the driveway to be repaired! WTF?! TRUST ME I don't live extravagantly but once in a while I have to say WTF? and get lobster....we all have to live, right? Manicures, $100 haircuts and $200 pair of shoes every month are NOT part of my life. How do people afford these things, I cannot figure out. Sure they may make more than me but when I see people spend 10 times what I do I know damn well sure they don't make 10 times what I do. Leaves me wondering what I am doing wrong. Then when I hear many don't even have $1,000 retirement it all becomes clear. They must be kidding themselves, up to their eyeballs in debt and making it all "look good".

Whatever....maybe I am way worse with money than I figured and I am the one kidding myself. I just don't get it.....one minute I feel like I am not doing so bad and the next minute I feel like a total financial failure. I appreciate what I HAVE but not understanding how I cant afford what I NEED when I see folks spend foolishly on so much and yet supposedly almost a third of working folk have nothing for the future. Holy S&^$ I need a nap........

[FishermanTim]

Originally Posted by Jenn

.... Manicures, $100 haircuts and $200 pair of shoes every month are NOT part of my life. How do people afford these things, I cannot figure out. Sure they may make more than me but when I see people spend 10 times what I do I know damn well sure they don't make 10 times what I do. Leaves me wondering what I am doing wrong. Then when I hear many don't even have $1,000 retirement it all becomes clear. They must be kidding themselves, up to their eyeballs in debt and making it all "look good"......

BINGO! You hit the nail on the head. They CAN'T afford it and are living in debt up to their eyeballs!


Whatever....maybe I am way worse with money than I figured and I am the one kidding myself. I just don't get it.....one minute I feel like I am not doing so bad and the next minute I feel like a total financial failure. I appreciate what I HAVE but not understanding how I cant afford what I NEED when I see folks spend foolishly on so much and yet supposedly almost a third of working folk have nothing for the future. Holy S&^$ I need a nap........

If you are able to live withing your means, then you are able to LIVE!
Way too many people are focused on just the "here and now" and spend that way. Many figure that their house will be their retirement nest egg and they will be all set, yet they are mortgaged to the max, use credit cards like monopoly money, and think "budget" is what they try to get their fat arses to do off the couch!

How many parents figure that buying their childrens affection is easier than earning it? I see it way too much for it to be a coincidence. It just adds to the problem and perpetuates that kind of mind set for the kids to follow.

[piemma]

So I always made a decent living as did my wife but we were very judicious about how we spent our discretionary cash. We bought a used Popup camper when we first got married and camped. That was vacation. 2 weeks trout fishing in Maine. Great times and cheap.

I'm not gonna get into a life story but I think you get my drift.

You should live as you can afford to live. You need to always be aware of the fact the SSI will not allow you to retire without eating dog food twice a week.
You NEED to put away for retirement! Don't be mislead that you can live on SSI. We didn't and now we can retire with a sense of confidence and peace.

[ProfessorM]

I feel that a lot of the reason people get into financial issues is they were never taught about money, I never was. Why in the world finances are not taught in our schools is beyond me. You get all kinds of useless classes, I have a 13 year old in school right now so I know, but nothing about how to deal with money in your life. I also agree a financial planner is an important person to have in your life for guidance.

[striperman36]

about 30 years ago we looked for a financial adviser without affiliation with any large brokerage firm. Once we found him, it has been the best money spent for the return. And we have a plan towards a goal. I don't have the stress of trying to figure that stuff out, they do it all.

[justplugit]

Originally Posted by striperman36

about 30 years ago we looked for a financial adviser without affiliation with any large brokerage firm. Once we found him, it has been the best money spent for the return. And we have a plan towards a goal. I don't have the stress of trying to figure that stuff out, they do it all.

Agree a fee only advisor. Having a diversified portfolio involves foreign investments that are hard to pick and follow. A good advisor will use an investment house to post and keep your securities where you can track them 24/7 on your computer.