Jonathan, I have been very blessed throughout my life. But I didn't believe I had a lot of advantages. I did go to college and as result of several things, had a successful career. However, I found out later in life in my mother's last few years how I was able to go to college without a lot of stress because I knew I didn't make enough in the summers to pay for it--I was told not to worry about money (but I did anyway). However, the last visit her aunt/uncle made to us before they passed on provided my mom with a paper bag full of $1, 2 & 5 bills--they were adults during the depression and saved a lot but had no children. I was about 5 years old when this occurred but I had no idea about it until I was in my 50s. This act formed the main basis for my (and my sister's) college education. You can bet I learned from that and established 529 plans for all my grandchildren shortly after they were born. I learned the legacy aspect of your article without having to do research...it was ingrained. We remain impressed with your efforts in your difficult situation and will read all your articles as long as you're able to provide us your wisdom.
Yes, I've always thought that cash is almost as good as real money! All my recent bathroom remodel charges (we've done two of them) have been paid with checks to plumbers, electricians, and my GC. And, when the Lowe's team drops off my bathrrom supplies or the quartz counter guys finish the install, I give them some cash as a thanks for their hard work. They love it! You make a person's day with cash. Will I see them again? Not likely, but you get to spread a little joy.
Thanks Chuck. I worked for a Chuck Staley when I was in DoD but it wasn't you. This article makes me think I have much more work to do in this area. I have watched my niece and nephew labor for months since their dad passed on; and one's a CPA and the other a Financial Planner. Their dad had stocks he inherited from his mother (who lived to 99) and everything on the stocks was in paper...it's a large, ongoing mess; they've gone to Lastpass to allow them to work all this from two different locations and it's been over six months but they have more work to do. All my financials are with my financial planner, but I do daily checks on nearly all accounts. The password thing needs work. I'll have to bookmark this and work on this the rest of this year because it doesn't seem a 1 or 2 day job. Thanks again for making me think.
David, very good approach regarding the meaning varies among who is retiring...and from what. I especially agree because even though I no longer work for a paycheck, I still do things for several non-profits and my church. I maintain my professional certification also because that provides me a continuing mental challenge and I use some of that expertise on the non-profit boards I support. Thanks for your efforts on this one.
Excellent thoughts here. Been doing a similar things for years with multiple sinking fund accounts for Gifts, Saving, Auto Repair/Fuel, Newer Auto, House/Mx, Travel/Vacations, Food-Groceries. We also have cash in pouches where one doesn't need a receipt; it's just we get so much/month for various things like clothes, hair care, discretionary. We've been rather successful using it and yes, we make adjustments as inflation, other things change on us. It has made us more thrifty, we see where money is going, and if something happens (unexpected car repair, plumbing issue, etc.) we go there to pay for it. Yes, one must be disciplined, but it works for us.
Thanks for a good article on "how to think." We had a decent handle on our finances but took the Financial Peace course anyway and went on to become coordinators. The most important thing it did for us was give us a "why" for what we were doing to get us to make a decision. As I learned in my work life, when you have 60% to 80% of the information, you make the decision. You'll almost never get perfect data. Decide and move forward, get on with life. Thanks for providing this.
This is a good distinction for me to understand. I always wanted to be doing something I considered important, i.e., I was mission oriented; so I tend toward eudaimonic. I have a tendency to tire out my spouse on these things. Every so often she tells me "slow down, you move too fast." But since I'm retired, I was forced to set new goals and have to be content with things not getting done as fast as I want. My physical limitations are now much more, so it's getting used to operating inside a much smaller box of my capabilities. But you readjust, you deal with finding patience and getting used to having others do things for you. However, its an ongoing mental struggle, but my end thought is I'm lucky to still be here. So, I continue to work thru a myriad of health items and prioritize toward maintaining myself so I can watch all my grandchildren graduate from college.
Thanks, Jonathan. Yes there are a lot of things we'd wish we'd done differently. But, we're blessed to make it to retirement and not have a ton of worry about the many things that can befall us. Especially liked the entry on insurance. We don't want to collect on life, homeowner or vehicle insurance for any reason. Policies are there for the major things, not the inconveniences that arise (ball thru a window, fender bender in parking lot, etc.). One should be able to pay those things out of savings, have appropriate deductibles, and not run to your insurance agent every time something happens. It's important to know why you have what you have and when to use such instruments. Thanks again for your insight.
Comments
Jonathan, I have been very blessed throughout my life. But I didn't believe I had a lot of advantages. I did go to college and as result of several things, had a successful career. However, I found out later in life in my mother's last few years how I was able to go to college without a lot of stress because I knew I didn't make enough in the summers to pay for it--I was told not to worry about money (but I did anyway). However, the last visit her aunt/uncle made to us before they passed on provided my mom with a paper bag full of $1, 2 & 5 bills--they were adults during the depression and saved a lot but had no children. I was about 5 years old when this occurred but I had no idea about it until I was in my 50s. This act formed the main basis for my (and my sister's) college education. You can bet I learned from that and established 529 plans for all my grandchildren shortly after they were born. I learned the legacy aspect of your article without having to do research...it was ingrained. We remain impressed with your efforts in your difficult situation and will read all your articles as long as you're able to provide us your wisdom.
Post: Mind Over Money
Link to comment from February 1, 2025
Yes, I've always thought that cash is almost as good as real money! All my recent bathroom remodel charges (we've done two of them) have been paid with checks to plumbers, electricians, and my GC. And, when the Lowe's team drops off my bathrrom supplies or the quartz counter guys finish the install, I give them some cash as a thanks for their hard work. They love it! You make a person's day with cash. Will I see them again? Not likely, but you get to spread a little joy.
Post: Cash Is Back
Link to comment from August 12, 2023
Thanks Chuck. I worked for a Chuck Staley when I was in DoD but it wasn't you. This article makes me think I have much more work to do in this area. I have watched my niece and nephew labor for months since their dad passed on; and one's a CPA and the other a Financial Planner. Their dad had stocks he inherited from his mother (who lived to 99) and everything on the stocks was in paper...it's a large, ongoing mess; they've gone to Lastpass to allow them to work all this from two different locations and it's been over six months but they have more work to do. All my financials are with my financial planner, but I do daily checks on nearly all accounts. The password thing needs work. I'll have to bookmark this and work on this the rest of this year because it doesn't seem a 1 or 2 day job. Thanks again for making me think.
Post: Passing Them On
Link to comment from July 8, 2023
...your...
Post: How to Retire at 38
Link to comment from February 4, 2023
Thanks James. I hope your didn't hurt yourself placing your tongue so far into you're cheek!
Post: How to Retire at 38
Link to comment from February 4, 2023
David, very good approach regarding the meaning varies among who is retiring...and from what. I especially agree because even though I no longer work for a paycheck, I still do things for several non-profits and my church. I maintain my professional certification also because that provides me a continuing mental challenge and I use some of that expertise on the non-profit boards I support. Thanks for your efforts on this one.
Post: What Is Retirement?
Link to comment from February 1, 2023
Excellent thoughts here. Been doing a similar things for years with multiple sinking fund accounts for Gifts, Saving, Auto Repair/Fuel, Newer Auto, House/Mx, Travel/Vacations, Food-Groceries. We also have cash in pouches where one doesn't need a receipt; it's just we get so much/month for various things like clothes, hair care, discretionary. We've been rather successful using it and yes, we make adjustments as inflation, other things change on us. It has made us more thrifty, we see where money is going, and if something happens (unexpected car repair, plumbing issue, etc.) we go there to pay for it. Yes, one must be disciplined, but it works for us.
Post: Better Than a Budget
Link to comment from November 2, 2022
Thanks for a good article on "how to think." We had a decent handle on our finances but took the Financial Peace course anyway and went on to become coordinators. The most important thing it did for us was give us a "why" for what we were doing to get us to make a decision. As I learned in my work life, when you have 60% to 80% of the information, you make the decision. You'll almost never get perfect data. Decide and move forward, get on with life. Thanks for providing this.
Post: That First Step
Link to comment from October 15, 2022
This is a good distinction for me to understand. I always wanted to be doing something I considered important, i.e., I was mission oriented; so I tend toward eudaimonic. I have a tendency to tire out my spouse on these things. Every so often she tells me "slow down, you move too fast." But since I'm retired, I was forced to set new goals and have to be content with things not getting done as fast as I want. My physical limitations are now much more, so it's getting used to operating inside a much smaller box of my capabilities. But you readjust, you deal with finding patience and getting used to having others do things for you. However, its an ongoing mental struggle, but my end thought is I'm lucky to still be here. So, I continue to work thru a myriad of health items and prioritize toward maintaining myself so I can watch all my grandchildren graduate from college.
Post: Choosing Happiness
Link to comment from September 3, 2022
Thanks, Jonathan. Yes there are a lot of things we'd wish we'd done differently. But, we're blessed to make it to retirement and not have a ton of worry about the many things that can befall us. Especially liked the entry on insurance. We don't want to collect on life, homeowner or vehicle insurance for any reason. Policies are there for the major things, not the inconveniences that arise (ball thru a window, fender bender in parking lot, etc.). One should be able to pay those things out of savings, have appropriate deductibles, and not run to your insurance agent every time something happens. It's important to know why you have what you have and when to use such instruments. Thanks again for your insight.
Post: Like Edith Sang
Link to comment from June 15, 2022