phil5185
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Post by phil5185 on Jul 10, 2020 11:09:57 GMT -5
""I'll hike with you any day! I want to section hike the PCT and do other long trails when I'm retired... Hopefully young enough to still enjoy and carry a heavy pack!"""
And hopefully, rich enough to afford some of the nifty light-weight technology - a water filtration system for stream/spring water. MRE meals. You'll probably be able to cut that 45 lbs in half. (but you still need plenty of socks).
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MN-Investor
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Post by MN-Investor on Jul 10, 2020 12:19:42 GMT -5
Absolutely spend all your money today. Why not? But, just like the folks who don't take precautions against the coronavirus, don't complain when the results of your actions have a negative effect on your life. Don't take precautions against the coronavirus? Don't wear a mask, go to the bars. Fine. When you get it, don't complain and certainly don't take up a hospital bed. Don't plan for your financial future? Fine. Don't complain when you have to work until the day you die. Don't complain that you can't afford to fix your car or travel to visit your grandchildren or pay for cable any more. Your choice. But, thank goodness!, you've made sure that your heirs won't be getting anything from you!
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Deleted
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Post by Deleted on Jul 10, 2020 12:44:25 GMT -5
""I'll hike with you any day! I want to section hike the PCT and do other long trails when I'm retired... Hopefully young enough to still enjoy and carry a heavy pack!"""
And hopefully, rich enough to afford some of the nifty light-weight technology - a water filtration system for stream/spring water. MRE meals. You'll probably be able to cut that 45 lbs in half. (but you still need plenty of socks).
Have that all already without being rich! Been buying things for the past 4 years for my son's 90 mile hike in the mountains that was cancelled for the second time this year. So we have lots of gear.
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Deleted
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Post by Deleted on Jul 10, 2020 13:00:15 GMT -5
Absolutely spend all your money today. Why not? But, just like the folks who don't take precautions against the coronavirus, don't complain when the results of your actions have a negative effect on your life. Don't take precautions against the coronavirus? Don't wear a mask, go to the bars. Fine. When you get it, don't complain and certainly don't take up a hospital bed. Don't plan for your financial future? Fine. Don't complain when you have to work until the day you die. Don't complain that you can't afford to fix your car or travel to visit your grandchildren or pay for cable any more. Your choice. But, thank goodness!, you've made sure that your heirs won't be getting anything from you! And don't complain about how hard it is to get by on SS alone (it was never meant to be the sole source of support in retirement) or the poor conditions in your subsidized senior housing or the lack of choice you'll have when it comes to LTC paid for by Medicaid. One woman in my church had told me that shortly after she retired, she and their husband (already-retired architect) had spent most of their savings on their dream trip to Greece but they were doing OK on SS alone. (Which tells me they didn't save much in the first place.) Later she said she hadn't been able to come to church because her car needed fixing and she had to wait till they had the money. And then he died. There went 1/3 of the household income. She sold her 2-BR house for $98K and is living in a small unit in a retirement home. I hope the proceeds last her awhile. I know there are people who just can't save that much- health issues, not enough marketable skills, special-needs kids.... but then there are the ones who could have and didn't. And typically it's the wife who outlives her husband and is left to live on the crumbs.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jul 10, 2020 13:03:05 GMT -5
""I'll hike with you any day! I want to section hike the PCT and do other long trails when I'm retired... Hopefully young enough to still enjoy and carry a heavy pack!"""
And hopefully, rich enough to afford some of the nifty light-weight technology - a water filtration system for stream/spring water. MRE meals. You'll probably be able to cut that 45 lbs in half. (but you still need plenty of socks).
Have that all already without being rich! Been buying things for the past 4 years for my son's 90 mile hike in the mountains that was cancelled for the second time this year. So we have lots of gear. so - you're in?
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Deleted
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Post by Deleted on Jul 10, 2020 13:06:11 GMT -5
I wanna go, too! Some training needed first, I think.
Maybe the Appalachian Trail because it's closer. Gotta start in the spring (at Springer Mtn, heh heh), though, in order to do the whole thing in one season. Figure at least six months to get to Mt. Katahdin in Maine.
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Deleted
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Post by Deleted on Jul 10, 2020 14:33:48 GMT -5
Have that all already without being rich! Been buying things for the past 4 years for my son's 90 mile hike in the mountains that was cancelled for the second time this year. So we have lots of gear. so - you're in? Of course! Forget about having to lose weight first. I will on the hike!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jul 10, 2020 14:41:31 GMT -5
so - you're in? Of course! Forget about having to lose weight first. I will on the hike! Unfortunately - covid will prevent this from being a go soon, so - you have time!
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Deleted
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Post by Deleted on Jul 10, 2020 14:47:21 GMT -5
Count me in on that hike, too!! Someday.
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CCL
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Post by CCL on Jul 10, 2020 15:03:42 GMT -5
Darn! I can't even lift 45 lbs. No way I could hike with it.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Jul 10, 2020 15:05:39 GMT -5
Darn! I can't even lift 45 lbs. No way I could hike with it. It's easier on your back...
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Bonny
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Post by Bonny on Jul 10, 2020 17:39:27 GMT -5
""I'll hike with you any day! I want to section hike the PCT and do other long trails when I'm retired... Hopefully young enough to still enjoy and carry a heavy pack!"""
And hopefully, rich enough to afford some of the nifty light-weight technology - a water filtration system for stream/spring water. MRE meals. You'll probably be able to cut that 45 lbs in half. (but you still need plenty of socks).
12lbs Bear cannister w/1 week of food 8lbs 1 gal water 20lbs
Ain't no way I'm getting below 40lbs.
It was interesting that between the training and 3 weeks on the trail I lost 40lbs. A whole backpack of fat!!!!
Unfortunately 4 years later I've gained 20 of it back. But I'm still in much better shape.
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tskeeter
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Post by tskeeter on Jul 10, 2020 18:53:21 GMT -5
I want to know more about life expectancy in your family and your brother's savings habits and health issues before commenting. Context matters. Your brother could be a spendthrift idiot justifying his own grasshopper ways or he could be communicating some pretty damn sound ways of dealing with chronic conditions that tend to lead to reduced life expectancy preceded by infirmity and disability at an unusually young age. Me and my brother are diabetics and have high blood pressure. I also have chronic back pain and gastric problems. Our mother (86yrs) recently passed away in 2017 of alzheimers disease complications. I watched my mom suffer under government assistance where people didn't give a damn about her. My brother is a recovering addict but him and my sister has always been into lavous lifestyles (expensive clothes, shoes, watches, gold chains, etc..). I was the nerd in my family and the youngest of the 3. I don't care about clothes, shoes, etc.. but my big spending comes in the forms of fast cars, computers, videogames and other big hobbies like flying. I don't know what our fates will be in life, but I don't want to be too old to have fun. I already show small signs of arthritis in my hands (so does my brother) like my mom had. I'm also not ruling out the alzheimers disease since it runs so rampant on my mother's side of the family. I certainly want to do the things I want to do now in my 50s than wait in my 60s. But I don't want to be broke either in my later years. I do agree with my brother that I should spend most of my money up enjoying life and/or making it comfortable to live and when I die whatever is left over can go to my heirs.
If you expect to leave something to heirs, you're doing well enough to enjoy your life a bit. It sounds like what you have is strictly the result of your efforts. In that context, I don't think you have any obligation to leave your heirs an inheritance. If it happens by accident, after you have enjoyed doing things that you aspire to, fine. If you skid into your grave yelling "What a ride!" and the check to the mortician bounces, even better. Make a call and schedule ground school.
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cktc
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Post by cktc on Jul 10, 2020 19:00:44 GMT -5
I'll hike with you any day! I want to section hike the PCT and do other long trails when I'm retired... Hopefully young enough to still enjoy and carry a heavy pack! I’m down for a group hike too! Women of YM retreat [img src="https://i239.photobucket.com/albums/ff155/JiminiChristmas/ymamsmiles/wink.png" alt=" " src="//storage.proboards.com/forum/images/smiley/wink.png" class="smile"] I am all over this! I backpacked the Grand Canyon rim to rim 7 years ago. My supplies and I are way overdue for another backpacking trip.
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Tiny
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Post by Tiny on Jul 10, 2020 19:01:17 GMT -5
Can you use a "pack llama" or a "pack goat" to carry some of the stuff when you hike? I hear a Pack Goat can carry 8 to 10 pounds. Guess you'd need a herd of pack goats.
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dippyegg
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Post by dippyegg on Jul 10, 2020 19:13:05 GMT -5
If you could choose your life right now, what would it be?
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cktc
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Post by cktc on Jul 10, 2020 19:22:26 GMT -5
I think the flaw with living frivolously is that $1 spent frivolously does not equal $1 saved.
People who live frivolously tend to pay higher effective tax rates, more interest on debts, PMI, etc..., and the money doesn't get a chance to appreciate. It's not even necessarily that they are spending more on fun stuff, their delayed gratification is just externally imposed.
I wish discussing finances wasn't so socially taboo. I feel like a lot of friends and family could live a lot better than they do with a bit more guidance.
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tskeeter
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Post by tskeeter on Jul 10, 2020 19:43:15 GMT -5
One of my son's classmates is in a dual physician parent household. I spent a lot of time during fundraising activities talking to his mom and omg. I just don't get how people making that much can be so broke. It's not something I can comprehend making less than 1/10th what they do. I get that there are a crap ton of student loans, but maybe not building the 700K house overlooking the river is a good idea then? (In an area where 250K will get you a very nice place). I can answer some of it, having experienced it. 1 significant student loans 2 you do not make significant money until you are in your early 30's at the earliest, which puts you significantly behind your peers in saving, as you make almost no money for 4 years of medical school 3 tired of living like a student/delaying gratification 4 so you start to spend 5 if you are smart, you realize what you are doing, and reign it in before it gets out of control 6 but, if you don't, suddenly you are 50, with kids, 2 mortgages, private schools, expensive cars, expensive vacations, so retirement savings gets edged out 7 because of the high income, you can overcome some of the mistakes if you catch them early enough. If you don't, then you wind up with the risky investments 8 it takes time and some discipline to catch up savings to where you should be I know most of you do not make our salaries, and have difficulty understanding it. I look back and do not understand it all myself. PulmonaryMD, you might also consider that an element of ego, or insecurity, plays into the financial behavior of some Doctors. How much of the big houses, expensive cars, private schools, and lavish vacations is showing off? A demonstration of "success" and a desire to impress others? My BIL, a Chiropractor (wanted to be an orthopedist but changed his mind after his first surgery observation), behaves much like some Doctors. He acts like if something is expensive, it must be better than lower cost options. And he finds ways to let you know how much he spent. For example, to regrade a sloping yard he had a seismic engineered poured in place concrete retaining wall installed at a cost of about $40K. He could have put in a couple of shorter, more attractive, stacked block retaining walls for about $6K or so, like most other people do. But then he wouldn't be able to brag about how much he spent on the retaining wall and how special that retaining wall is because of all the engineering that went into it. He'll spend $150 an hour to have his car serviced at the dealership rather than using an independent garage at less than $100 an hour. He even uses the dealership for really simple things, such as oil changes. Today, his car is a really fully decked out pickup that costs about four times the cost of the average car. But this is a downgrade from the leased 8 Series BMW's he used to drive. He's all about conspicuous consumption. And the more conspicuous the better. Even if the spending means that his only retirement fund is Social Security. Interestingly, my sister used to work for a consulting company that rescued medical practices that were failing financially. Invariably, she found that the cause of the financial failure was the lavish spending habits of the Doctors in the practice. To make the practices financially viable, all they had to do was get the Doc's personal spending under control and reduce what the Docs were pulling out of the business. Sis left the consulting firm when she discovered that after a few years she was returning to the same practices. And that the Docs in the practice were back to spending like drunken sailors. These days, Sis spends her time trying to keep my BIL's spending under control so they don't end up back in bankruptcy court.
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pulmonarymd
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Post by pulmonarymd on Jul 10, 2020 20:26:46 GMT -5
I can answer some of it, having experienced it. 1 significant student loans 2 you do not make significant money until you are in your early 30's at the earliest, which puts you significantly behind your peers in saving, as you make almost no money for 4 years of medical school 3 tired of living like a student/delaying gratification 4 so you start to spend 5 if you are smart, you realize what you are doing, and reign it in before it gets out of control 6 but, if you don't, suddenly you are 50, with kids, 2 mortgages, private schools, expensive cars, expensive vacations, so retirement savings gets edged out 7 because of the high income, you can overcome some of the mistakes if you catch them early enough. If you don't, then you wind up with the risky investments 8 it takes time and some discipline to catch up savings to where you should be I know most of you do not make our salaries, and have difficulty understanding it. I look back and do not understand it all myself. PulmonaryMD, you might also consider that an element of ego, or insecurity, plays into the financial behavior of some Doctors. How much of the big houses, expensive cars, private schools, and lavish vacations is showing off? A demonstration of "success" and a desire to impress others? My BIL, a Chiropractor (wanted to be an orthopedist but changed his mind after his first surgery observation), behaves much like some Doctors. He acts like if something is expensive, it must be better than lower cost options. And he finds ways to let you know how much he spent. For example, to regrade a sloping yard he had a seismic engineered poured in place concrete retaining wall installed at a cost of about $40K. He could have put in a couple of shorter, more attractive, stacked block retaining walls for about $6K or so, like most other people do. But then he wouldn't be able to brag about how much he spent on the retaining wall and how special that retaining wall is because of all the engineering that went into it. He'll spend $150 an hour to have his car serviced at the dealership rather than using an independent garage at less than $100 an hour. He even uses the dealership for really simple things, such as oil changes. Today, his car is a really fully decked out pickup that costs about four times the cost of the average car. But this is a downgrade from the leased 8 Series BMW's he used to drive. He's all about conspicuous consumption. And the more conspicuous the better. Even if the spending means that his only retirement fund is Social Security. Interestingly, my sister used to work for a consulting company that rescued medical practices that were failing financially. Invariably, she found that the cause of the financial failure was the lavish spending habits of the Doctors in the practice. To make the practices financially viable, all they had to do was get the Doc's personal spending under control and reduce what the Docs were pulling out of the business. Sis left the consulting firm when she discovered that after a few years she was returning to the same practices. And that the Docs in the practice were back to spending like drunken sailors. These days, Sis spends her time trying to keep my BIL's spending under control so they don't end up back in bankruptcy court. Some of it is that, surely. But it is no different than the keeping up with the Jones’ behavior that we see exhibited all the tome. When I first started, I saw people who I knew made significantly less than I did driving far more expensive cars. Always wondered how they did it.
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Artemis Windsong
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Post by Artemis Windsong on Jul 10, 2020 20:43:55 GMT -5
I know my parents gave both of my brothers the same financial advice. They were spend thrifts then later learned how to live with next to nothing. The rest of the story is not good.
The short of it, I followed their advice and we are comfortable.
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Artemis Windsong
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Post by Artemis Windsong on Jul 10, 2020 20:53:42 GMT -5
""I'll hike with you any day! I want to section hike the PCT and do other long trails when I'm retired... Hopefully young enough to still enjoy and carry a heavy pack!"""
And hopefully, rich enough to afford some of the nifty light-weight technology - a water filtration system for stream/spring water. MRE meals. You'll probably be able to cut that 45 lbs in half. (but you still need plenty of socks).
I like looking a packing systems. I have somewhere the Boy Scout packing list. I took at backpacking class in the 70s but only went once. I'm not a tent person.
I used to enjoy reading Backpacker magazine. Also Outdoor magazine. I have a couple of friends who are preparing for the Appalachian Trail.
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nidena
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Post by nidena on Jul 11, 2020 7:47:49 GMT -5
I have no heirs so I plan to spend all my money in my lifetime. And most of that will be on making my new house my home and experiences with friends--once I make a few in my new city.
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skubikky
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Post by skubikky on Jul 11, 2020 8:33:02 GMT -5
so - you're in? Of course! Forget about having to lose weight first. I will on the hike! MPL.....let's be smart....saddle up our ponies and do it on horseback!
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Deleted
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Post by Deleted on Jul 11, 2020 8:44:38 GMT -5
Of course! Forget about having to lose weight first. I will on the hike! MPL.....let's be smart....saddle up our ponies and do it on horseback! LOL Unfortunately, they're not allowed on the AT. So, if you want to join us you'll have to lug a pack. Although I'm still unclear if we could get away with pack goats...looking into it.
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swamp
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Post by swamp on Jul 11, 2020 8:46:28 GMT -5
Of course! Forget about having to lose weight first. I will on the hike! MPL.....let's be smart....saddle up our ponies and do it on horseback! I wanna go too!!! Do you have a horse for me?
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swamp
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Post by swamp on Jul 11, 2020 8:47:31 GMT -5
MPL.....let's be smart....saddle up our ponies and do it on horseback! LOL Unfortunately, they're not allowed on the AT. So, if you want to join us you'll have to lug a pack. Although I'm still unclear if we could get away with pack goats...looking into it. I have friends with alpacas. Can we use those?
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Deleted
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Post by Deleted on Jul 11, 2020 8:49:55 GMT -5
LOL Unfortunately, they're not allowed on the AT. So, if you want to join us you'll have to lug a pack. Although I'm still unclear if we could get away with pack goats...looking into it. I have friends with alpacas. Can we use those? Pack animals are NOT allowed on the trail. This includes horses, donkeys, llamas and alpacas. www.nps.gov/appa/planyourvisit/pets.htmThey didn't say goats!
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swamp
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Post by swamp on Jul 11, 2020 8:50:36 GMT -5
I have friends with alpacas. Can we use those? Pack animals are NOT allowed on the trail. This includes horses, donkeys, llamas and alpacas. www.nps.gov/appa/planyourvisit/pets.htmThey didn't say goats! I can get a back from my dog, though, right?
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Deleted
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Post by Deleted on Jul 11, 2020 8:52:18 GMT -5
I can get a back from my dog, though, right? Yes! But, not sure how much it would take off your back, as she'd have to carry her own food and water.
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cktc
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Post by cktc on Jul 11, 2020 10:40:21 GMT -5
I can get a back from my dog, though, right? Yes! But, not sure how much it would take off your back, as she'd have to carry her own food and water. We have a pretty big group going. We could probably arrange a support vehicle to supply food, or people could join at different spots and provide extra supplies as needed
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