How much do you need to retire? - Page 28

Melania · ‎06-12-2013

On 1/14/2014 happy housewife said: Our financial guy said as long as we are only taking our growth out in our monthly payout we are good. We should not touch our original investment for our monthly allowance - just our earnings from that money - and we don't even take all that.

Same here...we aren't there yet but that's what we were advised. The growth can replenish itself and better yet if you don't need to take it all out.

151949 · ‎03-09-2010

This summer my DH will be 70 so he will then be required to take a small % from our savings each year. That is so they can tax what was once tax deferred.

magicmoodz · ‎03-16-2010

On 1/14/2014 happy housewife said: Our financial guy said as long as we are only taking our growth out in our monthly payout we are good. We should not touch our original investment for our monthly allowance - just our earnings from that money - and we don't even take all that. BTW - we all got a pretty nice COLA raise from SS this year AND no increase in medicare.

happy housewife, can you help me understand something? Just when are you suppose to enjoy the fruits of your labor? I don't believe you have children, correct? Who are you saving that principal for?

I get that financial planners make money off of the size of your financial portfolio (and that is why I am very cynical when dealing with mine). But really, why preserve that money when you could be enjoying it?

magicmoodz · ‎03-16-2010

On 1/14/2014 happy housewife said: Magicmoods -do you know how long you are going to live? Do you know what your expenses will be as you age? What kind of care you may require ? I am saving it for my security. You want to spend all yours ? go right ahead - you will be in the medicade ward at the home while I am in my private suite with a private duty nurse to care for me.

Let's get something straight here. I was in no way being snarky and was asking an honest question, because I don't have children either and merely wanted your input.

But as usual, you turn it around.

And p.s. you could drop dead from a heart attack in 3 years.

SurvivedOne · ‎11-04-2013

On 1/14/2014 magicmoodz said:
On 1/14/2014 happy housewife said: Magicmoods -do you know how long you are going to live? Do you know what your expenses will be as you age? What kind of care you may require ? I am saving it for my security. You want to spend all yours ? go right ahead - you will be in the medicade ward at the home while I am in my private suite with a private duty nurse to care for me.

Let's get something straight here. I was in no way being snarky and was asking an honest question, because I don't have children either and merely wanted your input.

But as usual, you turn it around.

And p.s. you could drop dead from a heart attack in 3 years.

Magicmoodz, you were merely asking a common sense question. Pay no attention to how rudely you were treated. Being able to enjoy the fruits of all the hard work done is merely common sense, human. Most of us are extremely intelligent and are very knowledgeable with the concept of "balance". My significant other is a financial advsior, a partner in his firm so I am, we are more than competant in managing our present, our future. No competant money manager would ever advise their client(s) in such a way that the OP seems to be told regarding her "future". What also makes no sense, based on what the OP posts, if she has been getting such great advice, why is she being so frugal in retirement? If she had been getting proper advice, as she claims she has, she would indeed be enjoying what she has worked so hard to have. In her retirment. People don't work that hard, put so much emphasis on having fabulous fiancial advisors just so they can have a "private duty nurse" when they are in the "home".

magicmoodz · ‎03-16-2010

On 1/14/2014 SurvivedOne said:
On 1/14/2014 magicmoodz said:
On 1/14/2014 happy housewife said: Magicmoods -do you know how long you are going to live? Do you know what your expenses will be as you age? What kind of care you may require ? I am saving it for my security. You want to spend all yours ? go right ahead - you will be in the medicade ward at the home while I am in my private suite with a private duty nurse to care for me.

Let's get something straight here. I was in no way being snarky and was asking an honest question, because I don't have children either and merely wanted your input.

But as usual, you turn it around.

And p.s. you could drop dead from a heart attack in 3 years.

Magicmoodz, you were merely asking a common sense question. Pay no attention to how rudely you were treated. Being able to enjoy the fruits of all the hard work done is merely common sense, human. Most of us are extremely intelligent and are very knowledgeable with the concept of "balance". My significant other is a financial advsior, a partner in his firm so I am, we are more than competant in managing our present, our future. No competant money manager would ever advise their client(s) in such a way that the OP seems to be told regarding her "future". What also makes no sense, based on what the OP posts, if she has been getting such great advice, why is she being so frugal in retirement? If she had been getting proper advice, as she claims she has, she would indeed be enjoying what she has worked so hard to have. In her retirment. People don't work that hard, put so much emphasis on having fabulous fiancial advisors just so they can have a "private duty nurse" when they are in the "home".

SurvivedOne ~! thank you for your kind and informative post. You are very fortunate that your SO has the knowledge to guide you for a promising and comfortable future.

We have always had a broker/financial advisor of some sort, but last year engaged someone new and got pretty serious about it. I have always been a saver and a good money manager. But what was interesting was that he thought we were living way below our means and encouraged us to be a bit more extravagant in our lifestyle.

Sloan Sabbith · ‎01-06-2014

On 1/14/2014 happy housewife said: Magicmoods -do you know how long you are going to live? Do you know what your expenses will be as you age? What kind of care you may require ? I am saving it for my security. You want to spend all yours ? go right ahead - you will be in the medicade ward at the home while I am in my private suite with a private duty nurse to care for me.

Is this "medicade ward" next to the "psyciatric ward"?

Take some savings and take an English class. Better yet, as a senior, you can audit - it's free.

${#emotions_dlg.biggrin}$

RainyDayGal · ‎03-09-2010

On 1/11/2014 puglet1 said:
How much do you need to retire?

My first thought when reading this question was to respond, "Really badly."

${#emotions_dlg.laugh}$ ${#emotions_dlg.blushing}$

${#emotions_dlg.laugh}$ Right there with ya. Today couldn't be soon enough.

pattypeep · ‎06-06-2011

On 1/14/2014 SurvivedOne said:
On 1/14/2014 magicmoodz said:
On 1/14/2014 happy housewife said: Magicmoods -do you know how long you are going to live? Do you know what your expenses will be as you age? What kind of care you may require ? I am saving it for my security. You want to spend all yours ? go right ahead - you will be in the medicade ward at the home while I am in my private suite with a private duty nurse to care for me.

Let's get something straight here. I was in no way being snarky and was asking an honest question, because I don't have children either and merely wanted your input.

But as usual, you turn it around.

And p.s. you could drop dead from a heart attack in 3 years.

Magicmoodz, you were merely asking a common sense question. Pay no attention to how rudely you were treated. Being able to enjoy the fruits of all the hard work done is merely common sense, human. Most of us are extremely intelligent and are very knowledgeable with the concept of "balance". My significant other is a financial advsior, a partner in his firm so I am, we are more than competant in managing our present, our future. No competant money manager would ever advise their client(s) in such a way that the OP seems to be told regarding her "future". What also makes no sense, based on what the OP posts, if she has been getting such great advice, why is she being so frugal in retirement? If she had been getting proper advice, as she claims she has, she would indeed be enjoying what she has worked so hard to have. In her retirment. People don't work that hard, put so much emphasis on having fabulous fiancial advisors just so they can have a "private duty nurse" when they are in the "home".

My mother was in assisted living (no private nurse) and her expenses were a minimum of $4,000 per month. This was a few years ago. My friend's mother recently passed and paid a whopping $7,000 per month and no private nurse. I've never heard of a private nurse for someone in a "private suite" in a rest home. If one is so bad off that they need a private nurse, then I'd say "please take me now, God".

Women and cats will do as they please, and men and dogs should relax and get used to the idea-Robert A. Heinlein

Melania · ‎06-12-2013

On 1/14/2014 magicmoodz said:
On 1/14/2014 SurvivedOne said:
On 1/14/2014 magicmoodz said:
On 1/14/2014 happy housewife said: Magicmoods -do you know how long you are going to live? Do you know what your expenses will be as you age? What kind of care you may require ? I am saving it for my security. You want to spend all yours ? go right ahead - you will be in the medicade ward at the home while I am in my private suite with a private duty nurse to care for me.

Let's get something straight here. I was in no way being snarky and was asking an honest question, because I don't have children either and merely wanted your input.

But as usual, you turn it around.

And p.s. you could drop dead from a heart attack in 3 years.

Magicmoodz, you were merely asking a common sense question. Pay no attention to how rudely you were treated. Being able to enjoy the fruits of all the hard work done is merely common sense, human. Most of us are extremely intelligent and are very knowledgeable with the concept of "balance". My significant other is a financial advsior, a partner in his firm so I am, we are more than competant in managing our present, our future. No competant money manager would ever advise their client(s) in such a way that the OP seems to be told regarding her "future". What also makes no sense, based on what the OP posts, if she has been getting such great advice, why is she being so frugal in retirement? If she had been getting proper advice, as she claims she has, she would indeed be enjoying what she has worked so hard to have. In her retirment. People don't work that hard, put so much emphasis on having fabulous fiancial advisors just so they can have a "private duty nurse" when they are in the "home".

SurvivedOne ~! thank you for your kind and informative post. You are very fortunate that your SO has the knowledge to guide you for a promising and comfortable future.

We have always had a broker/financial advisor of some sort, but last year engaged someone new and got pretty serious about it. I have always been a saver and a good money manager. But what was interesting was that he thought we were living way below our means and encouraged us to be a bit more extravagant in our lifestyle.