5 Mistakes That Will Crush Retirement Dreams

[obgyn65]

Hello Ha - thank you for this. Well if there is not a single ER-approved, universal way to calculate savings ratios, then I stand by my initial figures : 80-90% savings rate. My formula makes sense (to me anyway :-) )

Quote:

Originally Posted by haha Now wait a minute partner. Who is to say that his math should use the same principles as your math, or anybody else's math. After all, it is his math. While his report might appear odd at first hearing, stranger things have been recounted on this board. Ha

[REWahoo]

Quote:

Originally Posted by haha Now wait a minute partner. Who is to say that his math should use the same principles as your math, or anybody else's math. After all, it is his math. While his report might appear odd at first hearing, stranger things have been recounted on this board. Ha

As usual, you put forth 110% effort in your posts...

In other news, North Korea Says Its Archaeologists Discovered A 'Unicorn Lair' : NPR

[REWahoo]

Quote:

Originally Posted by obgyn65 Hello Ha - thank you for this. Well if there is not a single ER-approved, universal way to calculate savings ratios, then I stand by my initial figures : 80-90% savings rate. My formula makes sense.

[WestLake]

I'm currently saving 100% of my salary, having paid off all but two rental properties.

[catccc]

Quote:

Originally Posted by obgyn65 I should stay away from financial numbers. They don't really interest me since I am not materialistic nor greedy.

now, one need not be materialistic nor greedy to want to be interested financial numbers. In fact, it seems that quite the opposite characteristics drive people here to stay close to their finances/stats.

[crg7]

Quote:

Originally Posted by obgyn65 I should stay away from financial numbers. They don't really interest me since I am not materialistic nor greedy. What is more important, in my view, is what I do with my money, such as sending medicines to third world countries, give to United Way, or help support free clinics.

You need to check out what percentage of donations you send to the United Way actually go towards helping people. Historically it's been VERY LOW.

[REWahoo]

Quote:

Originally Posted by crg7 You need to check out what percentage of donations you send to the United Way actually go towards helping people. Historically it's been VERY LOW.

It is sad to see unfounded statements like this one.

Unfortunately the actions of one individual at the national level of United Way a few years ago created this misconception.

United Way charities are locally run and locally managed. While what you say may be true for some locations, that is the exception rather than the rule. I have comprehensive knowledge of two United Way organizations (San Antonio and Midland, TX) and can attest they are very cost efficient.

[Lazarus]

So how cost efficient or not cost efficient is United Way? I don't see any numbers.

[Stanley]

Saving 40% is a lot easier if it can be done before taxes. Having Uncle Sam help is nice.

[ziggy29]

Quote:

Originally Posted by REWahoo It is sad to see unfounded statements like this one. Unfortunately the actions of one individual at the national level of United Way a few years ago created this misconception. United Way charities are locally run and locally managed. While what you say may be true for some locations, that is the exception rather than the rule. I have comprehensive knowledge of two United Way organizations (San Antonio and Midland, TX) and can attest they are very cost efficient.

Yep -- and if you go to a site like Charity Navigator and search on "United Way", you'll see that their ratings are all over the map, from excellent to, well, not very good.

Charity Navigator - America's Largest Charity Evaluator | Home

[Midpack]

Quote:

Originally Posted by crg7 You need to check out what percentage of donations you send to the United Way actually go towards helping people. Historically it's been VERY LOW. Quote: Originally Posted by ziggy29 Yep -- and if you go to a site like Charity Navigator and search on "United Way", you'll see that their ratings are all over the map, from excellent to, well, not very good. Charity Navigator - America's Largest Charity Evaluator | Home

I was just going to suggest the same independent website.

While I'm not a big fan of UW, overall it appears their ratings are relatively good...

[Lazarus]

I would not donate to United Way no matter what. My reason is that the United Way drives at work were based on intimidation. They would get a manager to run the drive then insist on 100% participation. You had to turn your card in or you would be harassed. In addition UW tracked the "donations" by social security numbers that the company gave them.

So their score is 0 as far as I am concerned. And that is how much they will get from me.

[Original Wally]

Quote:

Originally Posted by REWahoo It is sad to see unfounded statements like this one. Unfortunately the actions of one individual at the national level of United Way a few years ago created this misconception. United Way charities are locally run and locally managed. While what you say may be true for some locations, that is the exception rather than the rule. I have comprehensive knowledge of two United Way organizations (San Antonio and Midland, TX) and can attest they are very cost efficient.

I dislike the UW because of the pressure. I w*rked in a small group, and was *personally* responsible for our group not getting a "gold" award. I refused to allow my employer to have information on my charitable giving. That has no place in the w*rkplace. Too much employee time was spent on the drive (IMHO).

[2035]

I HATE the UW because years ago they cut off funding to Planned Parenthood because of pressure from the religious right. This is a fact! I was informed that they've since reversed this decision, but the respect was already lost.

[ziggy29]

Quote:

Originally Posted by AWeinel I dislike the UW because of the pressure. I w*rked in a small group, and was *personally* responsible for our group not getting a "gold" award. I refused to allow my employer to have information on my charitable giving. That has no place in the w*rkplace. Too much employee time was spent on the drive (IMHO).

I do agree with that; we had something similar at my first Megacorp. I also remember that some people were resentful because they felt UW supported causes that they were personally opposed to, and they felt pressure to give anyway.

[Original Wally]

Quote:

Originally Posted by 2035 I HATE the UW because years ago they cut off funding to Planned Parenthood because of pressure from the religious right. This is a fact! I was informed that they've since reversed this decision, but the respect was already lost.

2035, OTOH, UW here on the left coast cut Boy Scouts out because of their stance on homosexuality. And as a conservative, I dislike their leftist bent.

(When my boys were in the "big 3" issues were the three "G's" - God, Gays and Girls. Still the same.

[youbet]

Quote:

Originally Posted by ziggy29 I do agree with that; we had something similar at my first Megacorp. I also remember that some people were resentful because they felt UW supported causes that they were personally opposed to, and they felt pressure to give anyway.

For me, giving to UW was too much like having my taxes increased to support Big Gov't and then counting on Big Gov't to take care of all those in need. I'm happier being more personally involved with smaller, more focused organizations.

The UW entry on my check stub looked just like another tax. Here in Illinois, we never count on even a single penny of our taxes making it to the intended target.

[ziggy29]

All of which reminds me that charity needs to be truly voluntary and according to our own consciences, because no two of us have the same conscience or full set of values. Which is a big reason why the concept of "charity under pressure" rubs me the wrong way.

[REWahoo]

It's a shame you blame the United Way for the Nazi tactics of some individual businesses to get 100% participation. Those pressures/requirements don't come from UW, they come from the zealous folks managing companies who want to look good in the community by forcing all to participate.

[Lazarus]

Quote:

Originally Posted by REWahoo they come from the zealous folks managing companies who want to look good in the community by forcing all to participate.

Yes, and UW gives them an opportunity to. Its no different than a manager insisting you donate to their Church or to family member birthdays ect.
Has no place in the business world.

I doubt your statement the UW has nothing to do with the methods of collection. Why would they have my SS number if they weren't tracking it themselves? They provide all the materials for collection also.
I would not give at work and I sure won't now that I am retired.


Plenty of other ways to donate to charity. Why mess with UW? What is your interest in UW since your such a supporter?