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12-28-2010, 12:23 PM
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#41
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gone traveling
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
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12-28-2010, 12:42 PM
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#42
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Quote:
Originally Posted by Tadpole
As more threats of means tests have reared their ugly voice, I have been thinking a lot about my wage cohorts. You see, I don't mind sharing with those who have had less opportunity to save (but would rather not) but I get red faced when I share with my wage cohort who sent his children to private schools, indulged in a stay-at-home wife after the child care was not an issue, bought a new truck every couple of years, bought a bass boat, and never got around to that savings bit.
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I think the common sense response when facing griping from the latter type of individual is "Look, you enjoyed the luxuries over the years, now it is my turn to enjoy the luxuries I have earned such as freedom from the need to work".
I just turned 30 and on the rare occasions when I mention something to someone my age about savings or maxing 401k's and IRA's I am usually met with responses indicating that is impossible. But at the same time, these people enjoy plenty of luxuries now (luxury cars, big houses, boats, frequent expensive vacations, electronic gadgets, maid service, lawn service, stay at home spouse, etc). We all make choices. Just don't begrudge me in 5-10 years for making choices right now that maximize my own net worth.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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12-28-2010, 12:46 PM
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#43
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Thinks s/he gets paid by the post
Join Date: May 2009
Posts: 1,116
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1.20 euros per liter. That amounts to .....1$ per liter?. Anyway, these are rough times in Spain .
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I get by with a little help from my friends....ta ta ta ta ta...
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12-28-2010, 12:52 PM
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#44
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Quote:
Originally Posted by vicente solano
1.20 euros per liter. That amounts to .....1$ per liter?. Anyway, these are rough times in Spain .
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That's about double the price at the pump in the US. You are paying $6/gallon and it is around $3/gallon stateside. Or 0.58euro/litro
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
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12-28-2010, 01:29 PM
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#45
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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Quote:
I'll mention that there's no evidence that they are any different.
Sooner or later I'll point out that the typical Gen-X kid got more stuff from Mom and Dad than the typical Boomer, but that will generate disbelief.
To be fair, I've also seen posts (though fewer) saying the younger generation is clueless, more interested in video games than producing something, etc.
But I expect the overwhelming majority will believe they had nothing to do with the debt, or their difficulty competing with foreign workers, it must all be "somebody else's fault". That's pretty much human nature.
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12-28-2010, 01:38 PM
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#46
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 2,472
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Quote:
Originally Posted by rescueme
Hey, I know that I/DW are truly fortunate in our current financial situation, but it was built over many years by significant sacrifices along the way. I have no desire to share with those that acted like "grasshoppers" in their earlier life...
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Hey I resemble that remark
Be kind to grasshoppers, or we will eat your fields
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12-28-2010, 02:22 PM
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#47
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 6,258
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__________________
"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
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12-28-2010, 02:36 PM
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#48
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by grasshopper
Be kind to grasshoppers, or we will eat your fields
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__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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12-28-2010, 02:52 PM
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#49
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Recycles dryer sheets
Join Date: Jul 2010
Location: Milwaukee
Posts: 53
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Well, being 30; I wrote a really long post. Then I decided it behooves me not to make enemies here.
Can we at least generalize less and accept this is way more complicated than stupid spenders vs. smart savers?
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12-28-2010, 04:55 PM
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#50
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
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Quote:
Originally Posted by Coderguy
Well, being 30;Can we at least generalize less and accept this is way more complicated than stupid spenders vs. smart savers?
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The question should be...
What do we as (smart) savers owe the (stupid) spenders.
Or what do gen-Xers, and gen-Yers owe the (stupid) boomer spenders. Even if it is somehow moral to not let them starve/live in poverty, What exactly are the Xers, and Yers actually prepared or willing to pay for ? Especially since what they will probably get when their time comes is much less.
The topic of generational accounting attempts to discuss some of the fairness/moral questions with this issue.
below is one link to this topic.
http://www.taxpolicycenter.org/brief...accounting.cfm
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12-28-2010, 05:35 PM
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#51
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Full time employment: Posting here.
Join Date: Apr 2009
Posts: 939
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__________________
I used to be “Thinker25” here. Retired at 62, now 73 (in 2021), no regrets & single again. I love it. I’m in RI.
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12-28-2010, 05:55 PM
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#52
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,371
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I'm flying under the radar as well, but it helps that I work part-time so the questions are minimal. Once I do ER, if someone asks, I'd respond that I worked very hard for many years, made good money, lived modestly (but not miserly), saved prodigiously and invested prudently.
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12-28-2010, 06:04 PM
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#53
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by pb4uski
Once I do ER, if someone asks, I'd respond that I worked very hard for many years, made good money, lived modestly (but not miserly), saved prodigiously and invested prudently.
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TMI. The old standby is to tell anyone who asks that you retied for medical reasons. Just don't mention it was because you were sick of working...
__________________
Numbers is hard
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12-28-2010, 06:42 PM
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#54
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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For most people I know, I won't have this problem. The only adverse reaction from the few people who I have discussed this with so far is a near universal belief that I will be bored. For the few who do have a problem - that's their problem.
I'm more concerned with being asked to pay for the unfunded or underfunded entitlements and never ending political promises either through higher taxation or higher inflation than anything else. My retirement budget (hopefully) reflects these concerns.
__________________
Budgeting is a skill practised by people who are bad at politics.
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12-28-2010, 06:48 PM
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#55
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,769
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BS, the war was from 1939 -1945, better part of 6 years. Oh, you yanks waited until the end of 1941 to join in. Do the math. The Japanese invited you and you accepted (many of us are glad you did). The war in Europe was over, thank the British Colonies.
Ah, tire and gas rationing, bummer. Pretty tough on the boomer`s parents.
The boomers were asked by Uncle Sam to take a vacation near what is now a tropical destination of choice (Thailand). Note the `near`. The rest of America wasn`t all that good to them when they returned (IIRC).
Yah, right, selfish as hell.
All this from a northern border rat.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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12-28-2010, 06:53 PM
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#56
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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Quote:
Originally Posted by REWahoo
TMI. The old standby is to tell anyone who asks that you retied for medical reasons. Just don't mention it was because you were sick of working...
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I agree with Brewer's flying under the radar, and I like the medical answer. My personal approach is to live a lifestyle (and dress the part to match) that makes people afraid I'm going to ask them to lend me money...
__________________
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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12-28-2010, 07:28 PM
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#57
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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I am not worried about jealousy from anyone. How could they be envious of a guy who is still doing maintenance on his cars? I have a bit of money, but I am not filthy rich. What is there for them to be envious about? I do not have to pretend; my frugality works well enough.
What I don't like is if they are going to say that because I have saved that amount of money, I do not need the SS as much as other spendthrifts, and I need to give that up. That would put me in a dilemma. Should I join the spendthrifts and spend all my savings now, so that I will be poor like them and will be taken care of?
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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12-28-2010, 07:30 PM
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#58
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Administrator
Join Date: Apr 2006
Posts: 23,038
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Flying under the radar here as well, although sometimes I wish I could take the Wild Weasel approach with the spendthrift whiners of my own generation.
__________________
Living an analog life in the Digital Age.
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12-28-2010, 07:48 PM
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#59
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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12-28-2010, 10:10 PM
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#60
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Thinks s/he gets paid by the post
Join Date: Jul 2003
Location: Pasadena CA
Posts: 3,346
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X2 for the medical explanation. I recite my Dad's poor health and early death, my night in the cardiac ward and get some nods of understanding. I liked work and could have stayed but retirement is better. Except for travel we live a simple life so not much economic visibility.
I don't think this is a hijack but a development of the thread, if the way to neutralize the savers is inflation then what is the best way for savers to address inflation? Clearly equities, real estate and possibly commodities will help but one of the most effective (tho not psychologically the best for me) is to have debt. So maybe the boomers with a lot of debt have unknowingly found a good anti inflation strategy.
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T.S. Eliot:
Old men ought to be explorers
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