Was
Fleet Owner
Joined: Oct 2004
Posts: 20,774
Likes: 222
From: Newton America :-P
I am trying to plan and save - I don't change vehicles or houses very often- I buy stuff used and I am careful with my money (most of the time) -- I have a friend who is 62- started saving for retirement 4 years ago and puts 5% in his 401k-- buys a new car every 3 years (or more) and he says he can't retire because he has house payments- car payments and 2 kids living at home (in their mid 20's neither has a job) He talks about cable packages and pays $380 a month for cable-- and I think to myself hope he's happy now because he won't be later---- well its later-- he is becoming very forgetful-- and I am assuming its because of age-- but it is affecting his job performance. He might not have any income in a year if things keep going the way they are.
Hotshot
Joined: Oct 2007
Posts: 18,816
Likes: 90
From: Manhattan Kansas
That's rough, I hate to see people not plan for the future. And I think back to something you said earlier. Everything is electronic, your bank account, your retirement, etc... so.. in a push of a keyboard button, everything you worked for your whole life could be gone.. vanished.. That scares the heck out of me. I hate to think that would happen to someone who tried so hard to prepare for the future, but things like that do happen. I only hope there is some kind of insurance on my 401K that protects it from such things. I would really like to put more into my 401K, but the wife thinks I am putting a lot in now.
I wish we were on the same page for that, because I would like to travel, spend, and enjoy retirement when I get to it. I don't want to struggle when I get to that point. I want retirement to be a time when I get to spoil myself with those things I didn't think I could afford when I was working. (I know, it may be a pipe dream, but still it drives me to try hard)
I wish we were on the same page for that, because I would like to travel, spend, and enjoy retirement when I get to it. I don't want to struggle when I get to that point. I want retirement to be a time when I get to spoil myself with those things I didn't think I could afford when I was working. (I know, it may be a pipe dream, but still it drives me to try hard)
Fleet Owner
Joined: Oct 2004
Posts: 20,774
Likes: 222
From: Newton America :-P
You are allowed $18,500 a year tax deferred. S0 we will see if I am going to bump mine up to 25% of what I am making this year-- If I get a larger pay raise.-- The return is better then any cd or savings account-- my 2 annuities are doing a little better- but really not all that good.. A friend of mine (Randy) is a big coin buff-- he has allot of silver-- non tax differed- just coins-- so if something happens and the economy goes 100% fubar- hell have something to trade --- I am banking on 2 things if that happens-- Got to have a product you can sell- and "smarts" beat "stuff" any day--- Alcohol is going to be my income if need be.- It has many uses and even just for drinking-- it is a valuable commodity. It is easily made and easy to trade. Corn is easy to store-- and it can be made from sugar, starch, and other carbohydrates by fermentation with yeast, and synthetically from ethylene or acetylene; used in beverages and as a solvent, vehicle, and preservative; medicinally, used externally and internally.- and most fruits- or potatoes, or even cane, sorghum or milo.
FTE Legend
Joined: Oct 2005
Posts: 283,511
Likes: 8,214
From: northwestern Ontario
Any increases in wages I would put towards my pension and continue to live on what I was previous earning, only thing that changed was my savings, there was more in the piggy bank
Fleet Owner
Joined: Oct 2004
Posts: 20,774
Likes: 222
From: Newton America :-P
one half of me things bailouts are the kind thing to do to keep people in their jobs-- but the other half of me says let the businesses fail and the competition would keep businesses trying to save money and keep them selves afloat. was
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Hotshot
Joined: Mar 2001
Posts: 13,548
Likes: 77
From: Manhattan, KS
I helped the daughters out with “loans” a couple of times. I was repaid but also knew it wouldn’t destroy our relationship if not. Others I’ve helped with a gift. A loan is a good way to lose a friend.
