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Old 09-15-2016, 08:48 PM   #161
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Hehe, yeah, that's pretty good! 87 and still stacking cash.

I don't want to be that guy -


It is the Great Depression mind set. It will not change. In his mind he has everything he wants and needs. So I doubt spending anymore would increase his satisfaction levels.
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Old 09-15-2016, 09:01 PM   #162
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Originally Posted by RobbieB View Post
Hehe, yeah, that's pretty good! 87 and still stacking cash.

I don't want to be that guy -


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Originally Posted by Mulligan View Post
It is the Great Depression mind set. It will not change. In his mind he has everything he wants and needs. So I doubt spending anymore would increase his satisfaction levels.

I'm thankful for the lessons I learned from that set growing up, as they helped me get to where I am today. Although I'm sure they'd be shaking their heads at some of the areas where I've been less than frugal...
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Old 09-15-2016, 09:19 PM   #163
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I enjoy investigating more ways to blow dough every day.

I've done the frugal, got a nice stash, I'm 61 and haven't worked in 2 years and have more dough than I ever did. I'm still stacking cash.

Gotta Blow More Dough!
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Old 09-15-2016, 11:04 PM   #164
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It just depends on the person. My 87 year old neighbor friend says he has considerbly more money now than he ever had and every year the stash climbs. I will tease him about going and spending some of it and having some fun. And he always says " I havent wasted money my entire life and sure as hell aint starting now".

That has been my experience. I live frugally, simply and comfortably and I have added to my nest egg every year since my retirement.

This is not a hardship... this is the way I prefer to live.

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Old 09-16-2016, 04:03 AM   #165
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I live frugally, simply and comfortably and I have added to my nest egg every year since my retirement.

This is not a hardship... this is the way I prefer to live.

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Old 09-16-2016, 08:41 AM   #166
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25X seems fine for a 65 yo, but I'd be scared out of my mind retiring in my 40s using that metric.
I'm not sure if I see the point of investing 25X my expenses at 65 years old. 65 + 25 years of expenses puts one at 90 years old if they just spent it.

At 65 I'd rather just spend more of that while I can still enjoy that money and my life. By the time it potentially grew to be significantly more I will have rapidly lost my ability to enjoy that extra money. Apart from health care if that's a concern, most of my spending will likely decrease as I get into my twilight years.
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Old 09-16-2016, 11:15 AM   #167
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Yep, they would drop by a few times a year to promote their blog with the hopes someone would buy something to help support their "retirement".

Odds are E-R.org management put a stop to their free advertisement opportunity, which resulted in them losing interest in posting.
Ha, it figures. You could be right. I bought 2 of their books (it's not books, they email PDF files) when they offered at discount a few years ago. I was disappointed. They lacked substance on the financial advice and too many pictures for my taste. However, they were inspirational and would be beneficial for people wanting to retire outside the USA and they'd work for beginners who wished to get more motivated. At least MMM and Joe's blog presented quite a few math examples how to get to the 'number' (but everyone should trust or distrust that number at their own expense).

BTW, I don't think I ever finished reading one of the 2 purchased PDF files-books. I guess I cannot ask for my my money back LOL
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Old 09-16-2016, 11:50 AM   #168
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That has been my experience. I live frugally, simply and comfortably and I have added to my nest egg every year since my retirement.



This is not a hardship... this is the way I prefer to live.



.


Helen, your "not a hardship" comment is exactly how he feels... And I am slowly drifting that way too. Im just too set in my lifestyle ways. Many things I dreamed of owning, that now I can, I don't even desire. Not really a heck of a lot of things I really even want to buy anymore other than needed replacements.
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Old 09-16-2016, 12:27 PM   #169
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Helen, your "not a hardship" comment is exactly how he feels... And I am slowly drifting that way too. Im just too set in my lifestyle ways. Many things I dreamed of owning, that now I can, I don't even desire. Not really a heck of a lot of things I really even want to buy anymore other than needed replacements.


Being taught by Depression-era parents and following my own nature, I have always lived frugally, simply and saved money.

When I was a small child, money was the dime in my hand waiting for the ice cream man.

When I was in elementary school, our teacher took us on a field trip to the local bank to open a savings account and instructed us about banks and the value of saving money.

When I became an adult, I realized that money can buy more than ice cream... it buys freedom... and debt enslaves.

The best thing about my retirement is my freedom.

.
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Old 09-16-2016, 01:30 PM   #170
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Being taught by Depression-era parents and following my own nature, I have always lived frugally, simply and saved money.

When I was a small child, money was the dime in my hand waiting for the ice cream man.

When I was in elementary school, our teacher took us on a field trip to the local bank to open a savings account and instructed us about banks and the value of saving money.

When I became an adult, I realized that money can buy more than ice cream... it buys freedom... and debt enslaves.

The best thing about my retirement is my freedom.

.
More schools should do that. Your teacher helped put you on the right track - as well as your parents.

My parents were born in the 1920's in England. They lived through WWII, and the scarce years after it which, over there, lasted into the 50's. I was given my own savings account with the local building society (which I suppose is a bit like an S&L or Credit Union) and taught to save a portion of my allowance every week. There was great stability in our household. We always had a good roof over our head, and enough to eat. I had everything I needed, and a few little extras. There was definitely no material excess though - and that was fine. It wasn't needed.

The income I draw from my portfolio puts me in the low income category, but I have a dry, warm place to live, all the food I want, the company of 3 fantastic cats, and a bicycle. On top of that, every morning when I wake up, I can do whatever I want. It reminds me very much of the sense of freedom I felt as a kid every year, when the 3 month summer holiday from school was just beginning. Those 3 months of glorious unscheduled time stretching out in front of me felt wonderful - and now, every morning when I wake up, so does my retirement
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Old 09-16-2016, 05:08 PM   #171
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More schools should do that. Your teacher helped put you on the right track - as well as your parents.

My parents were born in the 1920's in England. They lived through WWII, and the scarce years after it which, over there, lasted into the 50's. I was given my own savings account with the local building society (which I suppose is a bit like an S&L or Credit Union) and taught to save a portion of my allowance every week. There was great stability in our household. We always had a good roof over our head, and enough to eat. I had everything I needed, and a few little extras. There was definitely no material excess though - and that was fine. It wasn't needed.

The income I draw from my portfolio puts me in the low income category, but I have a dry, warm place to live, all the food I want, the company of 3 fantastic cats, and a bicycle. On top of that, every morning when I wake up, I can do whatever I want. It reminds me very much of the sense of freedom I felt as a kid every year, when the 3 month summer holiday from school was just beginning. Those 3 months of glorious unscheduled time stretching out in front of me felt wonderful - and now, every morning when I wake up, so does my retirement

Your childhood sounds a lot like mine.

We always had cats. I used to dress them up in baby clothes and stroll them down the sidewalk in a baby buggy. They kept jumping out. But they couldn't run away far because their hind legs kept getting tangled in their clothing.

Retirement is a second childhood... but without parental supervision.

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Old 09-16-2016, 05:17 PM   #172
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the company of 3 fantastic cats

Have you ever seen the 1960s British children's movie, "The Three Lives of Thomasina " ??

If not, you might want to check it out... maybe it is on YouTube.

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Old 09-16-2016, 09:54 PM   #173
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Have you ever seen the 1960s British children's movie, "The Three Lives of Thomasina " ??

If not, you might want to check it out... maybe it is on YouTube.

.
Couldn't find the full movie, but did see the trailer. Now I know where you got your idea of dressing up the cats

I rather liked the charming presentation and production quality. Will keep an eye out for it. Thank you!
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Old 09-17-2016, 01:42 AM   #174
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Couldn't find the full movie, but did see the trailer. Now I know where you got your idea of dressing up the cats

I rather liked the charming presentation and production quality. Will keep an eye out for it. Thank you!

I was dressing my cats in Texas years before the 1963 British movie.
Maybe it was a common Anglo idea

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Old 09-17-2016, 06:01 AM   #175
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The young wife dressed her cats (Georgie and Linda) and pushed them in a carriage when she was a child in New Jersey. I guess it was fairly common at one time. Still may be, for all I know.
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Old 09-17-2016, 06:09 AM   #176
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Must be terribly embarrassing for the cats.
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Old 09-17-2016, 06:23 AM   #177
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Must be terribly embarrassing for the cats.
Mortifying....especially if they were Persians...since Persians always appear to be disdainful of any unsolicited contact with humans.
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Old 09-17-2016, 08:56 AM   #178
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It is the Great Depression mind set. It will not change. In his mind he has everything he wants and needs. So I doubt spending anymore would increase his satisfaction levels.
This is my Dad. He has assets that he will most likely never spend down. He still banks some of his SS check and I don't think he's EVER touched anything from his investments outside of the RMDs. He just WILL NOT SPEND IT. I *finally* convinced him to let a commercial company clean off the roof and gutters every few months after I had an "incident" and refused to do it anymore. I think he seriously considered doing it himself instead (he's 89 years old!) before finally relenting. As an extra safe measure, I have padlocked the ladder to the fence to make it almost impossible to use it. It's just how he's wired and it will never change.

Also, all the great opinions on the bloggers and the meaning of being retired has convinced me that I will NEVER have a blog (retirement related, anyway!) Since I do have a rental property, I am sure the internet police would point out that I am not *really* retired!
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Old 09-17-2016, 09:10 AM   #179
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I think he seriously considered doing it himself instead (he's 89 years old!)
A few years back my oldest friend's father, (up in Northern Ontario), fell off the roof, (into a snowbank luckily).......I said to my friend "What was a 90 year old man doing on the roof?".......he replied "That's what people are asking my mother".
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Old 09-17-2016, 09:37 AM   #180
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This is my Dad. He has assets that he will most likely never spend down. He still banks some of his SS check and I don't think he's EVER touched anything from his investments outside of the RMDs. He just WILL NOT SPEND IT. I *finally* convinced him to let a commercial company clean off the roof and gutters every few months after I had an "incident" and refused to do it anymore. I think he seriously considered doing it himself instead (he's 89 years old!) before finally relenting. As an extra safe measure, I have padlocked the ladder to the fence to make it almost impossible to use it. It's just how he's wired and it will never change.
This will be my parents in another 10-20 years. I'm not sure of their portfolio size but I'm guessing $1.5-3M. "We're millionaires!" was declared many years ago and Dad still works FT while mom retired, started her pension, but still volunteers which often turns into fairly well paid temporary positions. SS x2 comes online in the next few years.

I can't imagine they will come close to spending pension + SS x2, and have told them as much. Combine that with the $60-100k+ they could withdraw from their portfolio and let's just say I'll probably be inheriting a non-zero sum eventually (but I wish they would spend it all if they can enjoy it!). I can't even persuade my dad to quit working. My mom says it's their fear over prescription drug copays and losing access to guaranteed issue health insurance that keeps him working (they pay "several hundred per month" for a variety of drugs). Explanations of the ACA and the fact that they would likely qualify for $10k in HI subsidies with just a basic bit of financial massage on their income streams does nothing to persuade them they could actually bridge the gap for one year till dad gets on medicare (I personally think there's zero chance ACA will disappear before 12/31/2017).

I can't get my dad to stop climbing on ladders. He'll probably do it till he falls or can't physically lift one foot above the other. I suggested now is a great time to find a quality trusted handyman when they offered to pay me significantly to do menial physical labor tasks around the house.

It's in the blood. But I'm working hard to overcome this in my own situation, hiring a plumber not once, not twice, but three times this year (!!) instead of sweating and suffering through work I don't particularly enjoy and can easily afford (it's literally in the budget to replace plumbing elements periodically). So far I've spent ~$300-400 above the cost of materials and supplies on the plumber's labor and I'm very happy with price paid vs. value received.
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