I have also chosen to forego alcohol because it does not add anything positive to my life. Even a glass or two of alcohol was enough to negatively affect me the following day. There are many good non alcoholic options these days also. I have many friends that overindulge and I think the health risks of that are not worth it for me either. To each his own.
Jonathon - my heart hurts for you and your family having to go through this. Grateful to you for sharing your journey, even though it sucks. You continue to help me think about what is important in life and hold those I love close. I hope you and those you love will be blessed in your time together this holiday season, and on.
When things are 'free' and consumers don't have some skin in the game it tends to make them less responsible. If all my care is free then heck yes I will go ahead and get all the expensive tests and care that I can. But if I know that I am responsible for part of the cost then I will be more discerning about what care I really need. This (along with personal well being) also provides incentive to try and live a healthier lifestyle. This is a common sense principle that makes perfect sense in many areas of life, but many would still call it unfair. I am in agreement that 'free' is not a good solution. If consumers think Medicare for All means 'free' they will be surprised, plus imagine how much more health care demand there will be if everything was free.
I retired at 53 with no regrets and loving life the past 6 years. Worked for 30 years as a female engineer in the oil business. While I mostly enjoyed it, the industry was dominated by men and a good majority of them had spouses that managed their kids & lives while the women there often had double duty. There was very little flexibility - no working from home or part time options - and the years juggling kids and family were difficult for sure. I was the bigger wage earner in our family at the time and staying home with the kids was not really an option. My husband was working in the schools and had every summer off. Yes I was a bit resentful, and so when the job became soul sucking and we had plenty saved I was ready to have some time for myself and just the unpaid job managing our home/family. My husband is great but I still handled too much of the duties as mothers often do. I often said I didn't stay home with the kids so I was taking that break on this end of life. Since we were prodigious savers along with military benefits we have more money than we will need and I am super happy to have this time. I have had no problem filling my days with volunteering, cycling and hiking, traveling, home projects, coffee groups, helping my kids a bit, and so much more. I really understand what retirees often say - how did I have time to go to work?
My husband and I both retired in our 50s (now 59 & 61). We benefit greatly from my husbands military service. As a military retiree (23 yrs Air Force) the pension, and included health care are huge for early retirees. Military pensions begin at the time of retiring from the service thus this started when he was 42 and has a COLA. An amount of VA disability pay (tax free) also started a couple years ago. Combining this with a substantial taxable savings amount that generates significant passive income covers our expenses. We manage the taxable savings such that we sell an amount each year to take full advantage of the 0% rate and a bit of the 15%, and drop it into a money market so that we have a significant amount for travel/home improvements etc.
I have one final semester of payments for tuition using the 529 plan that we funded for both kids, and it will use up all that we put aside. I think it was a fantastic thing to have, not just for the tax free growth, but more to simply have it there to pay for college and thus not pull it from our other taxable savings. Like was mentioned earlier I found that to be a comforting feature. It has been extremely easy to pull the money out to pay the bills, and our fund was a very low fee fund through California's Scholarshare (TIAA-CREF). Although we moved to Minnesota we still get a tax credit for contributing to the 529, which has been nice also. It was great for us.
Once I started my first real engineering job in the late 80s I was able to save a reasonable amount, even beyond any company retirement savings. First I bought savings bonds through a payroll deduction option that was offered at work. Then when I amassed a fair sum in my savings account I remember asking my Dad what I ought to do with my money. He said I should buy mutual funds. I was so clueless I told him I didn't want to own corn, beans, or pork bellies (mistaking mutual funds for commodities). At age 25 I did end up buying mutual funds through Janus funds, and a couple of other companies. I've made a few mistakes over the years but investing early and keeping at it has worked out splendidly for me.
I have always lived frugally as well but I am now firmly in the camp of spending well/more for things that are important to me and I find value in. As a cycling enthusiast I own a high end bicycle (more than just one even lol) that non cycling friends find crazy in cost. I also use my bike six days a week logging thousands of miles in a year. I believe there are health and social benefits as well. When a friend was ribbing me about the cost of my bike(s) I simply asked him how much his boat was and how much use he got out of it. It's all about priorities and what you value, and I can easily afford it.
A while back I was in a van pool with a couple guys that were really into playing the lottery. They said that it (winning) would be the only way they were going to be able to afford retirement. They were not just buying a single ticket each week, but basically putting their potential retirement savings to that. Too many buy into the get rich quick frame of mind. They would get so excited whenever it was the day for numbers to be pulled. I just thought they were dumb, lol.
Comments:
I have also chosen to forego alcohol because it does not add anything positive to my life. Even a glass or two of alcohol was enough to negatively affect me the following day. There are many good non alcoholic options these days also. I have many friends that overindulge and I think the health risks of that are not worth it for me either. To each his own.
Post: Why I Don’t Drink
Link to comment from December 31, 2024
Jonathon - my heart hurts for you and your family having to go through this. Grateful to you for sharing your journey, even though it sucks. You continue to help me think about what is important in life and hold those I love close. I hope you and those you love will be blessed in your time together this holiday season, and on.
Post: Staying Alive by Jonathan Clements
Link to comment from December 20, 2024
When things are 'free' and consumers don't have some skin in the game it tends to make them less responsible. If all my care is free then heck yes I will go ahead and get all the expensive tests and care that I can. But if I know that I am responsible for part of the cost then I will be more discerning about what care I really need. This (along with personal well being) also provides incentive to try and live a healthier lifestyle. This is a common sense principle that makes perfect sense in many areas of life, but many would still call it unfair. I am in agreement that 'free' is not a good solution. If consumers think Medicare for All means 'free' they will be surprised, plus imagine how much more health care demand there will be if everything was free.
Post: Quinn thinks “free” is a dirty word.
Link to comment from November 18, 2024
I retired at 53 with no regrets and loving life the past 6 years. Worked for 30 years as a female engineer in the oil business. While I mostly enjoyed it, the industry was dominated by men and a good majority of them had spouses that managed their kids & lives while the women there often had double duty. There was very little flexibility - no working from home or part time options - and the years juggling kids and family were difficult for sure. I was the bigger wage earner in our family at the time and staying home with the kids was not really an option. My husband was working in the schools and had every summer off. Yes I was a bit resentful, and so when the job became soul sucking and we had plenty saved I was ready to have some time for myself and just the unpaid job managing our home/family. My husband is great but I still handled too much of the duties as mothers often do. I often said I didn't stay home with the kids so I was taking that break on this end of life. Since we were prodigious savers along with military benefits we have more money than we will need and I am super happy to have this time. I have had no problem filling my days with volunteering, cycling and hiking, traveling, home projects, coffee groups, helping my kids a bit, and so much more. I really understand what retirees often say - how did I have time to go to work?
Post: Time’s Up
Link to comment from November 16, 2024
My husband and I both retired in our 50s (now 59 & 61). We benefit greatly from my husbands military service. As a military retiree (23 yrs Air Force) the pension, and included health care are huge for early retirees. Military pensions begin at the time of retiring from the service thus this started when he was 42 and has a COLA. An amount of VA disability pay (tax free) also started a couple years ago. Combining this with a substantial taxable savings amount that generates significant passive income covers our expenses. We manage the taxable savings such that we sell an amount each year to take full advantage of the 0% rate and a bit of the 15%, and drop it into a money market so that we have a significant amount for travel/home improvements etc.
Post: Bridge the Gap
Link to comment from November 14, 2024
I have one final semester of payments for tuition using the 529 plan that we funded for both kids, and it will use up all that we put aside. I think it was a fantastic thing to have, not just for the tax free growth, but more to simply have it there to pay for college and thus not pull it from our other taxable savings. Like was mentioned earlier I found that to be a comforting feature. It has been extremely easy to pull the money out to pay the bills, and our fund was a very low fee fund through California's Scholarshare (TIAA-CREF). Although we moved to Minnesota we still get a tax credit for contributing to the 529, which has been nice also. It was great for us.
Post: College Savings Forum
Link to comment from July 16, 2024
Once I started my first real engineering job in the late 80s I was able to save a reasonable amount, even beyond any company retirement savings. First I bought savings bonds through a payroll deduction option that was offered at work. Then when I amassed a fair sum in my savings account I remember asking my Dad what I ought to do with my money. He said I should buy mutual funds. I was so clueless I told him I didn't want to own corn, beans, or pork bellies (mistaking mutual funds for commodities). At age 25 I did end up buying mutual funds through Janus funds, and a couple of other companies. I've made a few mistakes over the years but investing early and keeping at it has worked out splendidly for me.
Post: What got you interested in investing?
Link to comment from July 15, 2024
I have always lived frugally as well but I am now firmly in the camp of spending well/more for things that are important to me and I find value in. As a cycling enthusiast I own a high end bicycle (more than just one even lol) that non cycling friends find crazy in cost. I also use my bike six days a week logging thousands of miles in a year. I believe there are health and social benefits as well. When a friend was ribbing me about the cost of my bike(s) I simply asked him how much his boat was and how much use he got out of it. It's all about priorities and what you value, and I can easily afford it.
Post: Satisfying Splurges by Ken Cutler
Link to comment from July 15, 2024
A while back I was in a van pool with a couple guys that were really into playing the lottery. They said that it (winning) would be the only way they were going to be able to afford retirement. They were not just buying a single ticket each week, but basically putting their potential retirement savings to that. Too many buy into the get rich quick frame of mind. They would get so excited whenever it was the day for numbers to be pulled. I just thought they were dumb, lol.
Post: They’re Sunk by Jonathan Clements
Link to comment from July 8, 2024