Shooby
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Post by Shooby on Dec 22, 2014 17:38:57 GMT -5
My philosophy is to save and do the best you can. Be smart and reasonable and invest and save. ANd, yes you will make mistakes along the way. Will I have enough when I need it? I don't know. I don't think you can know. So, I think you just have to proceed with your plan and hope for the best. And, I don't think it is likely most of us are going to live to 100 so that gets a bit absurd with the numbers.
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phil5185
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Post by phil5185 on Dec 22, 2014 17:51:25 GMT -5
Who was the lady that wrote articles for 'proboards' a few years ago? She was forever getting wrapped around the axle with various ways to save money? ![](http://images.proboards.com/new/smiley.png)
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Shooby
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Post by Shooby on Dec 22, 2014 17:52:04 GMT -5
Liz?
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phil5185
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Post by phil5185 on Dec 22, 2014 18:07:14 GMT -5
Ah, that's it. ![](http://images.proboards.com/new/smiley.png)
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Bonny
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Post by Bonny on Dec 22, 2014 18:07:28 GMT -5
Who was the lady that wrote articles for 'proboards' a few years ago? She was forever getting wrapped around the axle with various ways to save money? ![](http://images.proboards.com/new/smiley.png) Donna Freeman? I think she's over in Smart Spending (still proboards). And do you mean MSN Money ( proboards' Not MSN YM predecessor). IIRC she was a free lance writer and stay at home mom who lived on very little income. But she wouldn't have written an article saying you shouldn't save money for retirement.
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Bonny
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Post by Bonny on Dec 22, 2014 18:10:30 GMT -5
Ah, that's it. ![](http://images.proboards.com/new/smiley.png) Liz Weston never wrote for Proboards. I think her advice is pretty practical for folks first starting out and is an expert about how credit scores are calculated.
Donna had some pretty creative 'work at home" and unusual spending tips. A lot of them took quite a bit of time but could work for some folks.
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Plain Old Petunia
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bloom where you are planted
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Post by Plain Old Petunia on Dec 22, 2014 18:54:18 GMT -5
Articles like this just reinforce my suspicion that the planet is knee-deep in morons. It was such a web of ignorance that it would be futile to try to explain what was wrong with it. It would be like punching soapsuds.
Interestingly, I encountered someone today who would likely find nothing at all wrong with this article. Monday is my volunteer day in the ER, and I happened to overhear a conversation among some of the EMT guys while I was restocking supplies in the EMT ready room. One of them appeared to be a true YM acolyte. He was encouraging his buddies to contribute to their 401k program. One of the other guys was asking intelligent questions, but the third guy was clearly not YM material. He wanted to know "How do you keep from spending the money?" He had difficulty understanding the concept of investing for the long term. I missed part of the conversation when I had to take some blankets to a patient, and when I got back, they were getting ready to leave. All I caught was Not-YM-EMT saying something like "Yeah, I had some money in the retirement account, but then Brandi wanted to go on a cruise, so I had to take it out." (I don't know that it is Brandi with an I, but that's how I see it in my head.) YM-EMT asked him "Didn't you have to pay taxes and penalties?" and the last thing I heard before the door whooshed shut behind them was Not-YM-EMT saying, "Yeah, but I didn't have any choice." ![](http://syonidv.hodginsmedia.com/vsmileys/doh.gif)
I think this article was written for people like Not-YM-EMT, probably to make them feel better about making stupid choices. It's not their fault, they don't have any choice. They have to spend the money because Brandi wants to go on a cruise. Obviously, when Brandi wants to go on a cruise, you take her on a cruise. ![](http://images.proboards.com/new/tongue.png)
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Plain Old Petunia
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bloom where you are planted
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Post by Plain Old Petunia on Dec 22, 2014 18:57:49 GMT -5
Who was the lady that wrote articles for 'proboards' a few years ago? She was forever getting wrapped around the axle with various ways to save money? ![](http://images.proboards.com/new/smiley.png) Do you mean MP Dunleavy, who afforded her new house by simply changing her home maintenance budget to $0, never mind that it actually cost 5-6k per year?
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Plain Old Petunia
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bloom where you are planted
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Post by Plain Old Petunia on Dec 22, 2014 18:58:18 GMT -5
Ah, that's it. ![](http://images.proboards.com/new/smiley.png)
Should have kept reading.
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Bonny
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Post by Bonny on Dec 22, 2014 19:05:59 GMT -5
Who was the lady that wrote articles for 'proboards' a few years ago? She was forever getting wrapped around the axle with various ways to save money? ![](http://images.proboards.com/new/smiley.png) Do you mean MP Dunleavy, who afforded her new house by simply changing her home maintenance budget to $0, never mind that it actually cost 5-6k per year? LOL, I missed that story! I hope that's preserved on the internet somewhere! ![](http://images.proboards.com/new/grin.png)
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Plain Old Petunia
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bloom where you are planted
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Post by Plain Old Petunia on Dec 22, 2014 19:08:31 GMT -5
Do you mean MP Dunleavy, who afforded her new house by simply changing her home maintenance budget to $0, never mind that it actually cost 5-6k per year? LOL, I missed that story! I hope that's preserved on the internet somewhere! ![](http://images.proboards.com/new/grin.png) I was flabbergasted. Goodness, it's been like a whole decade, and I'm still not over it.
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Deleted
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Post by Deleted on Dec 22, 2014 19:10:17 GMT -5
NOT YM EMT should be new code for dumbass.
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Deleted
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Post by Deleted on Dec 22, 2014 19:25:15 GMT -5
I am facing some major home maintenance needs (not wants) . . . some drainage correction ($5000), some flooring that has cracked grout (who knows how much), some flooring that is worn out (I have lived here 11 years, and it wasn't new then). And so on.
I eyed my Roth for about 15 minutes. I'm over the age of penalties. It is supposed to be my backup emergency fund.
We are funding the drainage correction out of a combination of maintenance savings and personal savings. We are ignoring the cracked grout, and I keep trying to clean the carpeting.
I just can't touch it. So I probably am someone who denies herself to save for this "mythical" retirement.
Keep on carrying on. ![](http://images.proboards.com/new/smiley.png)
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Deleted
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Post by Deleted on Dec 22, 2014 20:06:27 GMT -5
Part of me wants to say, "the hell with them" and let them suffer the consequences, but I KNOW that's not how it's going to work out. If there's enough voting morons out there needing to cash in their 401Ks to go on a cruise, then the government is going to step up and bail them out. I feel it's my duty to at least try and get through to some. It doesn't usually work though.
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phil5185
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Post by phil5185 on Dec 22, 2014 21:33:44 GMT -5
Oh yeah, that's who I was thinking of. ![](http://images.proboards.com/new/smiley.png) After I saw Liz Weston's entire name I realized that I was wrong (I liked some of her writing.)
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msventoux
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Post by msventoux on Dec 22, 2014 21:49:46 GMT -5
I liked a lot of Liz's articles, she seemed pretty level-headed and a lot of her advice was well-reasoned and appropriate for the audience she was trying to reach. I liked a lot of MP's articles too, but for entirely different reasons. I know she was working off the theme of learning about personal finances along with her readers, but some of the things she came up with. ![](http://images.proboards.com/new/shocked.gif) She was often very entertaining.
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Shooby
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Post by Shooby on Dec 22, 2014 21:56:15 GMT -5
Oh yeah! MP!
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andreawick
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Post by andreawick on Dec 22, 2014 22:50:53 GMT -5
Because based on this article: - you will never be able to save enough - it will take too long to save that much - you would have sacrificed to much to make it worth it. Also can someone talk to this writer about the "power of compounding" because they seem to still live in the dark ages were you stick your money into a mattress or plain savings accounts. If you were running out of excuses as to why you were not saving, this article will help www.theguardian.com/money/us-money-blog/2014/feb/03/retirement-saving-study-fantasy-salary-millions
After reading this nonsensical drivel, I believe Carl owes me 5 minutes of my time back.
Hmmmm.....what could I make Carl do for 5 minutes that would re-pay me for wasting my time on this article.....
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andreawick
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Post by andreawick on Dec 22, 2014 22:52:49 GMT -5
Articles like this just reinforce my suspicion that the planet is knee-deep in morons. It was such a web of ignorance that it would be futile to try to explain what was wrong with it. It would be like punching soapsuds.
Interestingly, I encountered someone today who would likely find nothing at all wrong with this article. Monday is my volunteer day in the ER, and I happened to overhear a conversation among some of the EMT guys while I was restocking supplies in the EMT ready room. One of them appeared to be a true YM acolyte. He was encouraging his buddies to contribute to their 401k program. One of the other guys was asking intelligent questions, but the third guy was clearly not YM material. He wanted to know "How do you keep from spending the money?" He had difficulty understanding the concept of investing for the long term. I missed part of the conversation when I had to take some blankets to a patient, and when I got back, they were getting ready to leave. All I caught was Not-YM-EMT saying something like "Yeah, I had some money in the retirement account, but then Brandi wanted to go on a cruise, so I had to take it out." (I don't know that it is Brandi with an I, but that's how I see it in my head.) YM-EMT asked him "Didn't you have to pay taxes and penalties?" and the last thing I heard before the door whooshed shut behind them was Not-YM-EMT saying, "Yeah, but I didn't have any choice." ![](http://syonidv.hodginsmedia.com/vsmileys/doh.gif)
I think this article was written for people like Not-YM-EMT, probably to make them feel better about making stupid choices. It's not their fault, they don't have any choice. They have to spend the money because Brandi wants to go on a cruise. Oh....it was definitely Brandi with an I.......
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TheHaitian
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Post by TheHaitian on Dec 22, 2014 23:12:12 GMT -5
Articles like this just reinforce my suspicion that the planet is knee-deep in morons. It was such a web of ignorance that it would be futile to try to explain what was wrong with it. It would be like punching soapsuds.
Interestingly, I encountered someone today who would likely find nothing at all wrong with this article. Monday is my volunteer day in the ER, and I happened to overhear a conversation among some of the EMT guys while I was restocking supplies in the EMT ready room. One of them appeared to be a true YM acolyte. He was encouraging his buddies to contribute to their 401k program. One of the other guys was asking intelligent questions, but the third guy was clearly not YM material. He wanted to know "How do you keep from spending the money?" He had difficulty understanding the concept of investing for the long term. I missed part of the conversation when I had to take some blankets to a patient, and when I got back, they were getting ready to leave. All I caught was Not-YM-EMT saying something like "Yeah, I had some money in the retirement account, but then Brandi wanted to go on a cruise, so I had to take it out." (I don't know that it is Brandi with an I, but that's how I see it in my head.) YM-EMT asked him "Didn't you have to pay taxes and penalties?" and the last thing I heard before the door whooshed shut behind them was Not-YM-EMT saying, "Yeah, but I didn't have any choice." ![](http://syonidv.hodginsmedia.com/vsmileys/doh.gif)
I think this article was written for people like Not-YM-EMT, probably to make them feel better about making stupid choices. It's not their fault, they don't have any choice. They have to spend the money because Brandi wants to go on a cruise. Oh....it was definitely Brandi with an I.......
Why? It could have been Brandy with a Y ![](http://images.proboards.com/new/tongue.png)
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TheHaitian
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Post by TheHaitian on Dec 22, 2014 23:51:25 GMT -5
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Tiny
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Post by Tiny on Dec 23, 2014 0:09:12 GMT -5
Oh no. Could this be an example of Poe's Law? Maybe, was the original article Satire?
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Phoenix84
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Post by Phoenix84 on Dec 23, 2014 5:50:11 GMT -5
Yes, the author does seem to conveniently ignore the concept of compounding interest, seeming to assume you sock everything away in a back account or "safe investment."
At this point, I don't really obsess over whether or not I'm saving enough for retirement. I'm saving and investing what I can and figure something is always better than nothing. Hopefully I'll be "on target" but even if I don't make it, I'll still be better off than not saving.
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Shooby
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Post by Shooby on Dec 23, 2014 7:35:34 GMT -5
Yes . Isn't having something still going to ve better than having nothing?
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yogiii
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Post by yogiii on Dec 23, 2014 8:40:46 GMT -5
You guys sound like a bunch of 1%ers.
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