youbet
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I like that! Set those words to music and we'd have a theme song for not spending your last nickel......
Should I spend every nickel before I die?
- Thread starter Enuff2Eat
- Start date
I like that! Set those words to music and we'd have a theme song for not spending your last nickel......
Koolau
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
As I recall the bumper sticker from the 60's (most often seen on chartreuse or flower painted microbuses) the first word was actually "gas" not "cash". Rhymes better that way. Yes I DO remember the 60's even though I was there.
But I digress from the hijacked thread about passage across the Styx.
In that vein, a good hippie friend of mine always used to say that a man should leave this world with no more than he could carry on his own strong shoulders. He always hated it when I would add "Yeah, about 5 million dollars in hundred dollar bills" ($1 million weighs about 10 kg or 22 pounds, so YMMV
)
Koolau
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Now that I'm wound up, I'll point out that, indeed, "Nobody rides for free" is included in Jackson Browne's song "Boulevard".
End of hijack of hijack. We now return you to........
NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Fine! Cash or gas, I will pay up as I have none of the latter two.
End of hijack of hijack. We now return you to........
... return to, to ... spanking?
It seems the OP has not logged in since his last post. Is it hijacking if the thread was abandoned?
Sorry, Enuff2eat.
Just my humorous self, teasing and taunting people. 
Seriously, I can understand how the devastated news that was delivered to your friend affected you greatly; I have seen a few similar cases around me. What can we do? I have slowly learned to not make too detailed a plan in life, and to try to live in the present. Easier said than done, I know, and I am still learning to live.
W2R
Moderator Emeritus
I just had to add - - today I bought five more for another $13. So, for $28 I got 11 nice polo shirts. Not only that, they gave me all 11 sturdy plastic hangers. So, assuming a dozen such hangers might cost $6, then that would be $22 for 11 nice polo shirts, after tax!!
Sorry for the gloating but I don't often get good deals at sales, so this really made my day. I have enough shirts to last me for probably 3-4 years of retirement or more. Frank bought a few for himself, as well.Here is how I would answer original question by Enuff2Eat.
(1) I assume you have a retirement plan where you know how much you will need for retirement, how much you will allow yourself to spend, etc. If you are already retired, then you know what you can afford for your comfort level. So, from here on, I assume you are still accumulating.
(2) For every item you want to buy, since you know how much it costs, how much you make, and what your retirement goals are from (1), you should be able to estimate how much more time you will need work to earn that item. So, for example, you could estimate that buying a new car will cost you 6 more months of working.
(3) Buying an item now is BETTER than buying it later since you may die tomorrow or your health won't allow you to enjoy the item tomorrow. I don't know a good discount rate for this fact, but you should acknowledge that it exists... So, to account for this, I would randomly take 2/3 of your answer in (2) or perhaps you can estimate it based on how much you want the item and want to ensure you enjoy it. So in my example, assume buying new car is now worth 4 months of working (= 6 months * 2/3).
(4) Close your eyes, meditate, imagine you could retire *tomorrow*. Again, not N years from now, but TOMORROW. Now, answer the following question: would you rather retire tomorrow and not have your item, or would you rather work the time period in (3) and buy it?
I think you have the answer now...
(1) I assume you have a retirement plan where you know how much you will need for retirement, how much you will allow yourself to spend, etc. If you are already retired, then you know what you can afford for your comfort level. So, from here on, I assume you are still accumulating.
(2) For every item you want to buy, since you know how much it costs, how much you make, and what your retirement goals are from (1), you should be able to estimate how much more time you will need work to earn that item. So, for example, you could estimate that buying a new car will cost you 6 more months of working.
(3) Buying an item now is BETTER than buying it later since you may die tomorrow or your health won't allow you to enjoy the item tomorrow. I don't know a good discount rate for this fact, but you should acknowledge that it exists... So, to account for this, I would randomly take 2/3 of your answer in (2) or perhaps you can estimate it based on how much you want the item and want to ensure you enjoy it. So in my example, assume buying new car is now worth 4 months of working (= 6 months * 2/3).
(4) Close your eyes, meditate, imagine you could retire *tomorrow*. Again, not N years from now, but TOMORROW. Now, answer the following question: would you rather retire tomorrow and not have your item, or would you rather work the time period in (3) and buy it?
I think you have the answer now...
NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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I think that it's my duty to teach my children to be independent and to be able to produce their own income. I have told them time and time again that in their lifetime they should be able to make more than I can ever leave for them.
And about children with wealthy parents, yes they enjoy more good things in life, but do their parents live forever to work to provide for them? We have seen stories of how often silly lottery winners blew away TENS of million of their grand prizes in a matter of a couple of years. And I certainly would never be able to leave my children with that kind of money.
Bimmerbill
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I've worked pretty hard to enjoy what I have, so hope to pass along that trait to my daughter. I did get help from my parents, and hope to help my daughter too.
I'd like to save something for her, but not sure how much. Should know in the next few years. She is making great gains, but with her autism I am not sure how independently she will be able to live as an adult.
I'd like to save something for her, but not sure how much. Should know in the next few years. She is making great gains, but with her autism I am not sure how independently she will be able to live as an adult.
RonBoyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
A child who lacks the mental/physical ability needed to compete on a "level playing field" completely changes the rules. Of course, they should be considered in how you allocate your resources. And you should do it with a sense of pride and honor and not as an (unwelcome) obligation. I really respect your way of thinking.
All, thanks for your comments and suggestions. Nobody can tell what tomorrow will bring so "spanking" stuffs is good as long as you have enough saving and plan ahead for the future.
Calculate extra time of working per item you buy is too much work for me and it might discourage me from buying anything. What's the point of living... to me experiences worth hundreds time more than things. For example $1000 will get me a nice toy but the same $1000 can provide an"experience" like a get away or seeing a live show with friends and families. The experiences bring much more value to me.
A friend of my brother lives in a one bedroom apartment with his roommate. This guy is a computer science, makes decent money and enjoy weekends and holidays around the local area like everyone else. One unique thing about this guy is that his living expenses is so low and most of his saving is only for one purpose. Yes, it's all for travel. He traveled over 50 countries and once he came to see us in Washington DC area. He knows more about the local than I do. Now, that's what I am talking about. Spend it all in travel and leave nothing for the kids.....jk
enuff
Calculate extra time of working per item you buy is too much work for me and it might discourage me from buying anything. What's the point of living... to me experiences worth hundreds time more than things. For example $1000 will get me a nice toy but the same $1000 can provide an"experience" like a get away or seeing a live show with friends and families. The experiences bring much more value to me.
A friend of my brother lives in a one bedroom apartment with his roommate. This guy is a computer science, makes decent money and enjoy weekends and holidays around the local area like everyone else. One unique thing about this guy is that his living expenses is so low and most of his saving is only for one purpose. Yes, it's all for travel. He traveled over 50 countries and once he came to see us in Washington DC area. He knows more about the local than I do. Now, that's what I am talking about. Spend it all in travel and leave nothing for the kids.....jk
enuff
thefed
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As long as you know the day you're going to die...go for it!
So then in your case, when you estimate that your "experience" will cost you say 1 month of extra work, your answer would be that you DO want to work that extra month since the experience is more valuable to you, but buying a new "thing" that costs a month of extra work is not worth it... I think the method still works
