Holy, Moley, We can't seem to live within our means!
- Thread starter Uptosnuff
- Start date
OneEyedDiva...you sound like a very good mother. Bet you have taught your child to value and appreciate.
Do think you get to enjoy the challenge of "saving a buck". We sold a business and retired...the first thing I told
my hubby was "value received" - that is how we measure what we spend our money on. Of course with insurances you never win, now do you...lol.
Do think you get to enjoy the challenge of "saving a buck". We sold a business and retired...the first thing I told
my hubby was "value received" - that is how we measure what we spend our money on. Of course with insurances you never win, now do you...lol.
Knight
Well-known Member
Your welcome. Similar to you bragging about having degrees in your post, MBA & CPA. Difference as I see it I addressed the ops post not ignoring her concern for being able to retire comfortably. My brag included why we are able to live well now while enjoying the money we made during the prime earning years. . Not much in your way of how to achieve a comfortable lifestyle in retirement with "let the good times roll".
Knight
Well-known Member
Your selective choice of what to post about. As An MBA & CPA you offer the wisdom of "let the good times roll". Maybe you can elaborate on why you say living within your means is vastly over rated. That sounds to me like living within your means as being vastly overrated & preparing for the future aren't compatible. Sounds to me like live for now & to hell with tomorrow.
My post explains we lived within our means as I show in my post
"The good times for us meant living off my salary investing a portion of it & investing all but $25.00 of my wife's $525.00 a week take home pay. When our kids were out on there own we sold the summer home for more than we paid for it. The boat we took a small loss. That money was invested. "
The good times rolling while investing & selling what we were enjoying during those high earning times could also be seen not as bragging but as how to enjoy life as we age while preparing for retirement.
It's all in what we want to see.
BTW having a great day. Wife & I are eating lunch out before her spa day appointment.
My post explains we lived within our means as I show in my post
"The good times for us meant living off my salary investing a portion of it & investing all but $25.00 of my wife's $525.00 a week take home pay. When our kids were out on there own we sold the summer home for more than we paid for it. The boat we took a small loss. That money was invested. "
The good times rolling while investing & selling what we were enjoying during those high earning times could also be seen not as bragging but as how to enjoy life as we age while preparing for retirement.
It's all in what we want to see.
BTW having a great day. Wife & I are eating lunch out before her spa day appointment.
We save money by canning food , keeping a few hens for eggs and a little gardening.
We just hydrated about 30lb.s of eggplants we grew. We use to can more than we do now. Last month I canned 25lb.s of organic carrots we got from Publix for $19.99 last year they were $16.99. Lots of dried beans that average about 40 cent a quart. We can get 3 $140 cans in a quart jar.
Knight - God Bless your heart, not sure why you are hung up on the MBA/CPA thing. In the real world, having them on one's business card is routine. Trying to conflate them to your ongoing (now 3 posts long) series of smug, not-so-humble brags is pathetic. My advice to the OP is simple - the time to enjoy life is now. I know from bitter experience how quickly life's circumstances can change.
p.s. go back and read your post #25 and tell me what actionable advice you gave the OP- save her spouse's paycheck? Buy a boat? Buy a summer place to sell? It was all just "look at me"...
p.s. go back and read your post #25 and tell me what actionable advice you gave the OP- save her spouse's paycheck? Buy a boat? Buy a summer place to sell? It was all just "look at me"...
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Keep all your receipts for everything you spend.
Look at your bank statements on what exactly you are spending your money on.
Decide whether when you are going to spend money if it is a "need" you have to have or a "want" that you can do without.
Look into your spendings on various categories and try to get the lowest prices on everything you purchase.
Keep doing this until you have somewhat of a financial recovery but still monitor what you spend.
Look at your bank statements on what exactly you are spending your money on.
Decide whether when you are going to spend money if it is a "need" you have to have or a "want" that you can do without.
Look into your spendings on various categories and try to get the lowest prices on everything you purchase.
Keep doing this until you have somewhat of a financial recovery but still monitor what you spend.
StarSong
Awkward is my Superpower
- Location
- Los Angeles Suburbs
LOL - I presumed Buckeye was being facetious because his advice was so diametrically opposed to what a (good) CPA might give. Let the good times roll? Gimme a break. MBA? Figured he was just piling it on higher and deeper as a joke, because unless one is in the medical profession and can therefore give truly informed advice, few here give a rat's patoot about other members' long ago educations.
Still have no idea if the alphabet behind his name is for real and don't much care.
My mother used to tell us, "Spend a little, save a little. Enjoy yourself but make sure you're putting away a few nuts for the winter of your life because it'll come sooner than you might think."
The sum total of her education was her HS diploma, but she was a smart cookie with many talents.
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Uptosnuff
Member
- Location
- Great Plains, USA
That's exactly what I have been doing, and I'm already seeing a difference.
Uptosnuff
Member
- Location
- Great Plains, USA
I would like to clarify that we're not in dire straights by any means. We have no debt. No mortgage, no car payments, no credit card debt to speak of. We have been saving for retirement all our married lives and have a nice nest egg put by.
But I can't retire for a couple of years yet and we found ourselves having to get by on one paycheck when we were used to two. We have estimated that our income from all our sources in retirement will be just about equal to my salary. One person posted that this is a wake up call for us. Exactly right. Now is a good time for us to get used to spending less. It's kind of like a lead-in to retirement.
Thanks for all your suggestions. As I said in the above post, I have already implemented them and am seeing results.
That's what I like about this forum - lots of helpful people.
But I can't retire for a couple of years yet and we found ourselves having to get by on one paycheck when we were used to two. We have estimated that our income from all our sources in retirement will be just about equal to my salary. One person posted that this is a wake up call for us. Exactly right. Now is a good time for us to get used to spending less. It's kind of like a lead-in to retirement.
Thanks for all your suggestions. As I said in the above post, I have already implemented them and am seeing results.
That's what I like about this forum - lots of helpful people.
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I'd see about tweeking and/or making some of your savings, investments a little more productive wether it's simply accessing them or using more aggressive strategies with a portion of that money. Is your husband unemployment or social security elidgible? Can he collect or cash in on a retirement plan, 401k or pension? Even a part-time job?
There is a no mans lands of sorts between working/career and a full fledged retirement ie pensions, iras etc. That is a very tricky situation for people over 50 because depending one's field career opportunities can disappear after 40 let alone 50.
Many people don't realize how much they spend until they don't have the money to spend. For some that comes very early in life and others during the second half.
There is a no mans lands of sorts between working/career and a full fledged retirement ie pensions, iras etc. That is a very tricky situation for people over 50 because depending one's field career opportunities can disappear after 40 let alone 50.
Many people don't realize how much they spend until they don't have the money to spend. For some that comes very early in life and others during the second half.
Yes, that's good. I am trying to do these things, too. Sometimes it's easier said than done but I keep trying.
UPTOSNUFF - I'll give you credit for one thing- you didn't go off on some humble brag response. And I stand by my advice. For many folks, I'd venture to say most of us, the happiest times in our life was when we were young, usually broke, but doing things we liked, surrounded by the people we love. Carpe Diem, and all that. OP was asking for advice and mine is simply to remember to enjoy what you have and who you have today. Other posters have given her good $$ clues, but there's more to life than that.
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Yes, and watch "the cable model"...which means anything you subscribe to that is much cheaper the first year and then they silently raise the bar up real high the second year. You have to notice what you are paying for things month after month. Example, we subscribed in the car to Sirius radio. We'd taken a lot of road trips and remember it being worth it. Then, they upped the charge substantially. We're never in the car that much any more - we have 2 cars and a "toy" car for fun. Called and cancelled it. Watch what's called "The Cable Model", patterned after cable TV subscriptions I guess.
Even the homeowner policies start upping the total premium payments. That's when its time to call and get a lower total evaluation. Lets face it, no matter what happens you'll still have a pad, driveway and land, so why pay more for the 100% policy - not necessary. Its called being over insured - I'm sure the insurance companies do love it though. I call it the "silent policy renewals." If you don't notice it they get away with it.
Value received is our mantra. When you are working, its easy to let the little ends slip. When you are retired, its like "your job" to watch them.
Even the homeowner policies start upping the total premium payments. That's when its time to call and get a lower total evaluation. Lets face it, no matter what happens you'll still have a pad, driveway and land, so why pay more for the 100% policy - not necessary. Its called being over insured - I'm sure the insurance companies do love it though. I call it the "silent policy renewals." If you don't notice it they get away with it.
Value received is our mantra. When you are working, its easy to let the little ends slip. When you are retired, its like "your job" to watch them.
Knight
Well-known Member
1st. I didn't advise or offer "advice". I posted how my wife & I used the money we made to let the good times roll when we were able to. Investing & buying saleable things we enjoyed was lost in the sarcasm of "It was all just "look at me"..." I wouldn't expect anyone close to retirement that lived a different lifestyle than we did to do in a few years what took us over 30 years to accomplish. But there is a chance that someone out there in cyber land that is much younger can see the logic of enjoying what is possible when it becomes possible and still plan for their retirement years.
Offering advice not advise because of my experience comes in the form of checking with the institution holding a person's 401k.
The reason
Eligible for drawing on my 401k @59 1/2 I checked with Fidelity to see what my monthly draw would be. Pretty hefty because the way it was set up I would have to completely deplete it in 15 years. That meant a source of income would be gone at age 74 1/2. Know what to expect before selling or drawing on your 401k.
Good for you - 4 in a row. And you are correct that, although the OP asked for advice and suggestions, you offered none. Why do you bother to continue posting?
Edited to add: My apologies to the OP. It isn't my intent to highjack your thread. Can't speak for the other poster
And you are correct that, although the OP asked for advice and suggestions, you offered none. Why do you bother to continue posting?Edited to add: My apologies to the OP. It isn't my intent to highjack your thread. Can't speak for the other poster
Uptosnuff
Member
- Location
- Great Plains, USA
No worries Buckeye. I don't feel either you or Knight hijacked my thread. I think you gave it flavor.