Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
What Makes You Feel Poorer?
Old 02-25-2009, 06:17 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
What Makes You Feel Poorer?

There was a nice line on another post about a person 'not feeling poorer' that resonated with me. So far in this downturn I have felt some apprehension in the declining IRA (which I am not drawing from but not adding to) but have not felt poorer in life activities. My wife did want a new car and I managed to keep her old one going but I feel good, not poor about that.
Now my older son has had his hours cut back at his job with the county in CA and his wife is a teacher who has seen others cut back and has more to do with less so I see some damage there.
But for myself I am not living poorer. What do the retirees here have to encounter that they feel poorer?
__________________

__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-25-2009, 06:28 PM   #2
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
Quote:
Originally Posted by yakers View Post
What do the retirees here have to encounter that they feel poorer?
Only having 76% of the money I had 1 year ago.
__________________

__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude is offline   Reply With Quote
Old 02-25-2009, 06:28 PM   #3
Thinks s/he gets paid by the post
73ss454's Avatar
 
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
Heh, you must have a pension.
__________________
73ss454 is offline   Reply With Quote
Old 02-25-2009, 06:53 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Quote:
Originally Posted by Bikerdude View Post
Only having 76% of the money I had 1 year ago.
Yep - pretty close to 76% here too - hand grenade wise.

And with the current unpleasantness - there is the psychic pull/memory of my er cheap bastardhood early days of ER - but I'm not getting any younger - time and inflation and a newer SUV - I wish I hadn't given away my 260,000 mile 1994 GMC little Sonoma 4 banger - with rusty fender.

Sniff sniff - you can't go home again - er something.

heh heh heh - plus I'm thirty pounds heavier! Yikes! No remodeling - a couple less 2008 trips than 2006/2007. 2009? who knows subconsciously will probably spend less.
__________________
unclemick is offline   Reply With Quote
Old 02-25-2009, 07:14 PM   #5
Thinks s/he gets paid by the post
Bikerdude's Avatar
 
Join Date: Jul 2006
Posts: 1,901
Quote:
Originally Posted by 73ss454 View Post
Heh, you must have a pension.
You are correct. I would feel even poorer had I not.
__________________
“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said” Alan Greenspan
Bikerdude is offline   Reply With Quote
Old 02-25-2009, 07:24 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Not living in a refugee camp, drinking stump water, and eating gruel...
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 02-25-2009, 07:37 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
Quote:
Originally Posted by yakers View Post
But for myself I am not living poorer. What do the retirees here have to encounter that they feel poorer?
I am not living poorer. But I have the feeling of the "poor effect" (opposite of wealth effect). That is the the feeling of:
- loss of options - (sell house lose $ - so option to move not there)
- loss of $ = waste of all that hard work that went into it
- distraction from other aspects of life
- fear - increase in crime, affects on other people

PS - I had such little income in 2008 that Georgia will be giving me a $15 low income credit. At least I'm getting some of the money I paid in taxes back.
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Old 02-25-2009, 07:37 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,434
Quote:
Originally Posted by Bikerdude View Post
Only having 76% of the money I had 1 year ago.
Same here.
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Old 02-25-2009, 07:38 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Quote:
Originally Posted by HFWR View Post
Not living in a refugee camp, drinking stump water, and eating gruel...
ok ok - so I paid full retail for new C.E. Schmidt overalls(Tractor Supply) for the New Orleans trip - I have to dress up for their favorite Chinese buffett in Slidell.

And then it's a coin toss for for my favorite seafood Muffaletta place.

heh heh heh - maybe I can be poor with a granola bar every other meal.
__________________
unclemick is offline   Reply With Quote
Old 02-25-2009, 07:40 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Quote:
Originally Posted by Dawg54 View Post
Same here.
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 02-25-2009, 07:41 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Quote:
Originally Posted by unclemick View Post
ok ok - so I paid full retail for new C.E. Schmidt overalls(Tractor Supply) for the New Orleans trip - I have to dress up for their favorite Chinese buffett in Slidell.

And then it's a coin toss for for my favorite seafood Muffaletta place.

heh heh heh - maybe I can be poor with a granola bar every other meal.
Snazzy!!
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 02-25-2009, 08:43 PM   #12
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,036
Since I have never used my house as an ATM, I never felt rich or poor based on increasing or decreasing home value. I still pay the same mortgage every month and receive the same benefit in return (a place to live). Also home equity represents less than 20% of my net worth. But watching my retirement accounts tank and our retirement date postponed by a few years definitely makes me feel poorer.
__________________
FIREd is online now   Reply With Quote
Old 02-25-2009, 10:11 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
I've set up a budget that we need to follow since DH's last day at w*rk will be tomorrow. It's a decent budget; not too stringent, but a budget nonetheless. There will be no more expensive toys or purchases on a whim. It will take a little time to get used to that.

This doesn't necessarily make me feel poorer, but it does make me realize that I have to be more guarded with the money we have now.

If I start to feel poor, I'll go back to w*rk.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 02-25-2009, 10:18 PM   #14
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,077
Quote:
Originally Posted by bbbamI View Post
I've set up a budget that we need to follow since DH's last day at w*rk will be tomorrow. It's a decent budget; not too stringent, but a budget nonetheless. There will be no more expensive toys or purchases on a whim.
Welcome to my world.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 02-25-2009, 10:41 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Quote:
Originally Posted by REWahoo View Post
Welcome to my world.
It's comforting to know I won't be in it alone....
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 02-25-2009, 10:49 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,457
A year and a half ago, I felt "flush". We had a low withdrawal rate and enough assets that we could help out family members in a financial emergency if needed.

Now I feel "safe enough" for our living expenses, but the extra cushion is gone. If some special need came up, we could be looking at some tough tradeoffs.

Yep - I feel poorer - no way around that.

Audrey
__________________
audreyh1 is offline   Reply With Quote
Old 02-26-2009, 01:33 AM   #17
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
Quote:
Originally Posted by bbbamI View Post
There will be no more expensive toys or purchases on a whim. It will take a little time to get used to that.

This doesn't necessarily make me feel poorer, but it does make me realize that I have to be more guarded with the money we have now.

If I start to feel poor, I'll go back to w*rk.
Well that about sounds right for me. I do have a pension. Our house value is much reduced but it is a residence not an ATM. Our IRAs are down maybe 25% but we are not drawing them down till 2010. This year we are living off our pensions and a stock (UST) I sold last year. DW's IRA is in Wellesley and mine is in a target retirement fund. I retired in March of 2008 so I can only compare retired life to work life and that certainly allowed for more activities on a 'whim'. But if I do not have the money I had when working I do have a lot more time and that is a trade I will happily make, at least so far. I am trying to get past the psychological effect of looking at reduced IRAs and feeling fear, doom & gloom by asking myself what has actually changed in my life. Since retirement is new to me I thought I would check in and see what has actually shown up in retiree's lives.
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Old 02-26-2009, 05:55 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
 
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,280
Quote:
Originally Posted by dex View Post
PS - I had such little income in 2008 that Georgia will be giving me a $15 low income credit. At least I'm getting some of the money I paid in taxes back.
Earn More.jpg
__________________
"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
RonBoyd is offline   Reply With Quote
Old 02-26-2009, 06:00 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
 
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,280
Quote:
Originally Posted by yakers View Post
... but I feel good, not poor...
Poor but Happy.jpg
__________________
"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
RonBoyd is offline   Reply With Quote
What Makes You Feel Poorer?
Old 02-26-2009, 06:39 AM   #20
Full time employment: Posting here.
antmary's Avatar
 
Join Date: Mar 2008
Location: Northern California
Posts: 542
What Makes You Feel Poorer?

I am 63 years old. Many years ago I decided, and planned for, that I would work/play for the rest of my life - stay engaged in a positive way. That includes art, gardening, and helping others. It also included a modicum of financial security. We don't have a bundle of liquid assets, but we do have two homes that are paid for. We live in one and rent out the other.

Without giving myself totally away, I must say that I have achieved this. I "work" about 4 hours most days, and have a nice connection with my "customers." Business is good, and so is life. Helping others seems to be an antidote for despair and depression. Having a relationship with what we eat is priceless (vis a vis a garden!).

Feelings of poverty have come when I have:
*Wondered from my spiritual path
*Had to worry about rent as a single mom (long time ago)
*Felt powerless
*Felt isolated
*Felt sorry for myself

Strangely, I have never felt "poor" when I have been connected in a functional way with friends and family; money is for supporting that reality. Enough is good.

Antmary
__________________

__________________
antmary is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tell me if this makes sense utrecht FIRE and Money 55 10-29-2007 08:21 PM
Cheney makes twice as much as his boss RedHawk Other topics 9 04-16-2007 05:11 AM
Who makes the W/D rules for 401k's JohnDoe FIRE and Money 14 03-24-2007 10:04 PM
Rich get richer / poor get poorer renferme FIRE and Money 158 09-10-2006 12:03 PM
Makes me feel like I need a shower brewer12345 Other topics 15 08-26-2005 08:36 PM

 

 
All times are GMT -6. The time now is 06:08 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.