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Old 12-09-2020, 08:56 AM   #61
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We used to drive around in Inverness, IL, a wealthy community. Never saw kids playing in the streets, lawns of perfection, each mansion outdoing the next with Christmas decorations. I thought how sad.
Close to thirty years ago, older friends lived in 'the best' area of Victoria, BC.

I recall visiting them at Christmas, walking my Border Collie around the streets at night.....all the outside lights, decorations, interior lights on, not one person outside or visible inside, and eerily quiet.

Like seeing the old Yuletide department store displays long after they had closed for the day.

Found it quite depressing.
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Old 12-09-2020, 09:03 AM   #62
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all the outside lights, decorations, interior lights on, not one person outside or visible inside, and eerily quiet.

Found it quite depressing.
Exactly, I forgot that part about eerily quiet and no visible people. Creepy. That is NOT my definition of success.
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Old 12-09-2020, 12:35 PM   #63
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I am glad to say that I am seeing initial signs of success with both of my sons although later in life than I would have preferred. One is 43 and the older is 45 (two years shy of his military retirement date). Neither of them is aware of my financial status other than we travel often (non-Covid that is) and usually fly first class. So, they do know we get by OK without pensions or Social Security as we have a few investments.

They lived with their mother since they were toddlers as we divorced long ago and I was always traveling either in the Military or in my work afterwards. Their mother had to continue working until she could draw SS at 62 despite serious back issues as she needed the income to survive. Her current husband has been on SS for many years after losing his small business to bankruptcy in the great recession. They live in Arkansas and get by just fine in LCOL land.

I talk with both frequently and they often hit me up with questions about investing which I try to answer the best I can. They have set up automatic investments and are both adding money to after tax brokerage accounts. As boys will be boys, both dabbled in Tesla this year and so far so good I suppose. Too volatile for my blood these days. This Covid year was probably a real eye opener for them with layoffs other surprises all around. At this time, there is no need for them to know how much we have tucked under our mattress which will probably trickle over to them eventually. I'd prefer to see them succeed on their own first.
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Old 12-09-2020, 05:11 PM   #64
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I remember years ago at a previous job. My employer arranged for a benefits representative to be in the break area for hours to discuss the retirement benefits and answer questions.

I went over and said hi to the rep that was at our location that day. She was nice and when I walked up and said hi she responded ďfinally, someone is speaking to me.Ē

She explained that our employer was worried about the low 401k participation rate. She explained that they were trying to drum up interest in the program highlighting the match etc. She added that she wasnít approached for hours at the table she was sitting in the break room.

I told her I was already participating and that I was well past the level where the company matched. She positively responded with a ďgood jobĒ but added ďIím afraid you are in the minority- especially for your age.Ē I was in my early 30s at the time.

I do wonder about all these people that donít take advantage of good savings opportunities like a 401k plan with a match. What will happen to them when they are 60 or 65 with little savings?

My parents taught me the importance of saving for the future starting at an early age. For that I am thankful.

I also had an unusually high interest in investing and the stock market starting at an age Iíd venture to guess was younger than most people. I bought my first shares of a mutual fund in high school.

I think part of my desire to save was always wondering how long I would be able to do the work I did for a living. That personal uncertainty or stress about job security made me want to save some of each paycheck. And if you make it a habit early on itís as if you donít make the money because investing is automatic.

I donít expect everyone to have the same saving mindset as I do. Some people like to live in the now and that lifestyle can be expensive. I plan to continue to save and honestly my biggest concern is shifting to a spending mentality after I do retire.

It will be hard to change old habits and learn that itís OK to spend money. That to me is the best financial scenario for getting older- figuring out what to do with your money rather than complaining that you donít have enough.
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Old 12-09-2020, 05:17 PM   #65
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I do wonder about all these people that donít take advantage of good savings opportunities like a 401k plan with a match. What will happen to them when they are 60 or 65 with little savings?
They will become intimately familiar with the intricacies of government welfare benefits, what brands of cat food spread the best on sandwiches, bus schedules, and the health benefits of walking.
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Old 12-09-2020, 08:02 PM   #66
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They will become intimately familiar with the intricacies of government welfare benefits, what brands of cat food spread the best on sandwiches, bus schedules, and the health benefits of walking.
Not my idea of a good retirement.
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Old 12-10-2020, 07:35 AM   #67
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I don't mind if some people want to work all their lives. That is their choice.

I do mind them telling me how 'lucky' I am to have retired at 62, not have car payments, etc.
I do think Iím lucky to have retired early with no debt. Itís a combination of many factors; good health, no kids, parents who instilled value of savings when I was at piggy bank age, a couple decent paying jobs obtained due to knowing someone who knew the hiring manager, marriage to a man with a good pension (my pension froze in 2000), and a plan to LBYM so we could retire early. Even without pension we could still be ER and live off our savings.
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Old 12-10-2020, 07:41 AM   #68
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You can bring a horse to water, but you cannot make him drink

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This year has taught me well that people have an unbelievable variety of beliefs about their lives and the future and many have no interest in facts at all. How they survive with their decision making amazes me. But what do I know?


Sadly, IMHO, we here in the US in a very real way are victims of our own success. You can really screw up your life quite badly at this point, (financially or otherwise), and it seems there is an almost never ending line of people, govt agencies, etc, that will try to help you.
It is strange that in all of the looting videos I have watched in the past year, not once did I see someone stealing food to feed themselves. (You cannot eat a big screen TV). How decadent has a society become when a large swath of people have such little responsibility, that they can afford to protest in the streets for months at a time. Think about it... truly starving impoverished people do not have time to protest. They are too busy working!!!

Because of all of this, many have taken the attitude that personal responsibility is for suckers. Why deny myself pleasure today (and save), when tomorrow someone else will always take care of me?

They want rights without responsibilities. They want freedom without duty. In short, they lust and hunger for the unearned, that they demand others provide them.

When will it stop? When will more people willingly choose to save for their futures and deny themselves pleasures today for the security of a better tomorrow? When people start saying NO!!!

No, we will not continue to financially bail you out of your poor life choices. No, you do not deserve to be paid more at a minimum wage job. No you are not owed anything by anyone else. No we will not pay off your useless college degree in art appreciation.

Only then will this stop. Time to grow up children, playtime is over....
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Old 12-10-2020, 01:21 PM   #69
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And this is why we can't have nice things. Thank you to all who did contribute constructively.
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