20 step guide to a horrible retirment

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icfrugal1
Posts: 2952
Joined: Fri Aug 28, 2015 12:54 am

20 step guide to a horrible retirment

Post by icfrugal1 »

https://www.marketwatch.com/story/a-20- ... yptr=yahoo

Sadly, we did start saving late :(

But I inherited from family and that saved us.

IC
ohjodi
Posts: 1444
Joined: Sun Aug 30, 2015 3:57 pm

Re: 20 step guide to a horrible retirment

Post by ohjodi »

Keep sinking money into that 100 year old farmhouse on five acres on a hill in Nowhere, Wisconsin, with no bed or bath downstairs, because you know you will always be able to mow, climb the stairs, climb the hill, dig out the car from two feet of snow, and will always be able to drive because your vision will remain perfect, you'll never have hip or foot surgery, and you'll always be able to make the seven-our drive to visit family.

Don't listen to your adult daughter who has been BEGGING you for over fifteen years to at LEAST modify the house, and at BEST, sell and move into town.

Could I be talking about my parents? LOL And just when I think I've started to convince them, they do things like install central air, all new flooring, paint and wallpaper (which I think is the only thing holding the house together), buy new appliances.

And this whole time, the neighbor across the road has been WANTING to buy the house and property.

Sorry, had to vent!
ohjodi
icfrugal1
Posts: 2952
Joined: Fri Aug 28, 2015 12:54 am

Re: 20 step guide to a horrible retirment

Post by icfrugal1 »

Ohjodi,

Is it a family farm house, or a dream of theirs?

And that was very short of a vent, that was a AAAAAAAAAAAAAAUUUUUUUUUUUUGGGGGGGGGGGGGGGGGG

My sister and her husband are 70 and in much better shape then DH (69) and I (68) we are at the point of having to hire so much out :?

Sister and her husband have a nice house and travel all of the time.

I love to sleep in my own bed. :D :roll:

IC
littlemiss63
Posts: 2516
Joined: Thu Aug 27, 2015 10:11 pm
Location: Middle Tennessee

Re: 20 step guide to a horrible retirment

Post by littlemiss63 »

icfrugal1 wrote: Sun Jun 16, 2019 2:46 pm https://www.marketwatch.com/story/a-20- ... yptr=yahoo

Sadly, we did start saving late :(

But I inherited from family and that saved us.

IC
The only one that I'm guilty of, is helping out my kids occasionally. I've helped my DD and SIL when he had just started a new job and his mini-van died on them. It was 15 years old and worth nothing on a trade-in. They had some money saved, but not enough to pay cash and I gave them what they needed so they could pay cash.

My son had this problem with his heart and had been out of work dealing with it since January. I couldn't see him dealing with the stress of not being able to pay their house payment so I gave him a nice sum of money to alleviate that stress. He offered to pay it back, but I didn't want that hanging over his head either.

Either one of them would do what they had to do to take care of me and they will get the money when I pass away, so in essence they spent a little of their inheritance before I left this earth in time of need. I think I have enough saved that I wouldn't outlive my money. I have been blessed to have not touched anything that DH left when he died, my monthly income takes care of all my needs and then some.
floridacatlover
Posts: 8060
Joined: Fri Aug 28, 2015 7:21 am

Re: 20 step guide to a horrible retirment

Post by floridacatlover »

icfrugal1 wrote: Sun Jun 16, 2019 2:46 pm https://www.marketwatch.com/story/a-20- ... yptr=yahoo

Sadly, we did start saving late :(

But I inherited from family and that saved us.

IC
The one I’m guilty of is number 5, buying individual stocks. Right now about 10% of my investments are in a handful of stocks. I call it my fun money. In my job as a business writer I regularly read corporate 10k, 10Q and corporate proxy forms so I feel that I am somewhat informed when I pick stocks although today I mostly look at the numbers available on brokerage websites. I’ve never lost money that I can recall although I have held onto stocks too long and sold on the way back down. Dividends and capital gains are much more attractive tax wise than interest for someone in my low tax bracket so that is a plus for me.
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Jackielou
Posts: 13430
Joined: Tue Aug 25, 2015 7:51 pm

Re: 20 step guide to a horrible retirment

Post by Jackielou »

Really the only one I am guilty of is helping the children. Like Littlemiss says, it will be theirs when we no longer walk the earth, and this way we get to see them have a bit of fun with it first. Either buying a house, or investing it in an RRSP, our sons do not spend frivolously.
Jackie
http://inthelandofthelivingskiesii.blogspot.ca/
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