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Do you save?

Discussion in 'Anything goes' started by Dick Whitman, Sep 25, 2012.

  1. RickStain

    RickStain Well-Known Member

    lol. Personal finances aren't running a sports franchise. That guys is annoying me with his "let's just tank a few seasons" attitude.
     
  2. Riptide

    Riptide Well-Known Member

    I always got low-balled on newspaper salaries because I was single, so I wasn't able to save at all. Not gonna bitch about it, but there wasn't any kind of extra money to work with. It was hard enough having a decent place to live.

    Now retirement looms in eight or 10 or 15 years, and I'll be damned if I'm gonna miss out on that. Lucky to have family I can probably go live with later on, but I really have to hope Social Security and a couple measly pensions hang in there. But good family means things will work out somehow, as they always have, so I won't have to work until I croak. It will be interesting to see how it plays out, though.
     
  3. Bradley Guire

    Bradley Guire Well-Known Member

    I'm unemployed. Nothing to save. Don't expect to live to see retirement anyway.
     
  4. imjustagirl

    imjustagirl Active Member

    I've never saved beyond a 401K. My new job is a contract one, so no 401k (well no matching anyway) and I have to take three months off after a year. So I have to save up enough to live on for those three months over the year. I set out a budget for the remainder of 2012 that allowed me to pay off my Home Depot card (interest comes due Dec. 8) and still save a large chunk of that money.

    Now I'm a month into the job, and I have $11 in my savings account. I SUCK at saving. I'm suddenly much more panicked about reaching that magic number.
     
  5. Riptide

    Riptide Well-Known Member

    Keep your head up, Bradley. Sometimes things work out sooner than expected. :)
     
  6. 93Devil

    93Devil Well-Known Member

    If I make it to 67, I will have VRS and SS (yes, it will still be around) that will add up to about 90% of my final salary for the rest of my life.

    Wife has a 401 as well, and I have some stashed in an annuity as well. I am unsure how much she has in it, but she plans on working until she cannot anymore.

    We have our names on three properties which should all be paid for when we retire and they have a combined current market value of about $700,000. We hope to be mortgage free when we retire.

    I would like to give my daughter at least $500,000 when my wife and I pass away. She will have a better life than I had and hopefully her children will have a better life than her.

    I might start dabbling in stocks someday, but property is doing just fine for now.
     
  7. BTExpress

    BTExpress Well-Known Member

    That's a whole 'nuther discussion, of course.

    And a lot of it is just in a person's mind, anyway. Two people might like Bruce Springsteen. One will not miss a concert when he's in town. The other thinks, "Yeah, it'd be fun, but I can also have fun curling up with my wife/girlfriend and watching a DVD---and at the end of the night I'm $250 richer."
     
  8. Versatile

    Versatile Active Member

    This is the best argument for saving in this thread.
     
  9. trifectarich

    trifectarich Well-Known Member

    Ten or 12 years ago I set a goal to do everything possible for my wife and I to retire at age 60: three years, two months, 14 days to go. We're not extraordinarily frugal, but saving comes relatively easy for us and we both hate to waste money.
     
  10. RickStain

    RickStain Well-Known Member

    What I've found is just the opposite: most of the people with no savings *don't* get to enjoy life because they never have the money to do stuff they want like a big concert or whatever. Once I started being ruthlessly frugal about not wasting money on things I only sort of wanted or was buying out of habit, the money to do the really fun stuff was suddenly there.

    The method I tell people to use is to think of the one thing they would love to do and could conceivably afford someday, but don't have enough money. Then they should get out their statements for the last month (or keep a cash ledger for the next month) and write down everything they spent money on.

    Look at every item on the list that isn't mandatory (non-optional bills, food, etc.). Is there anything on the list that they spent money on that was less important to them than the thing they'd love to do? It should all be cut.
     
  11. JackReacher

    JackReacher Well-Known Member

    People's methods vary.
     
  12. Dick Whitman

    Dick Whitman Well-Known Member

    What was on that list? I'm curious. Pop/soda would probably be one for me. A big one.
     
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