tag:blogger.com,1999:blog-626594980028435818.post8665046614072410929..comments2024-03-28T05:14:44.500-04:00Comments on Sightings Over Sixty: No Reason to PanicTomhttp://www.blogger.com/profile/08611148987085476580noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-626594980028435818.post-20410782076351066782012-11-09T21:47:18.816-05:002012-11-09T21:47:18.816-05:00I went to pre-retirement seminar a few years ago w...I went to pre-retirement seminar a few years ago where the presenter said the best thing to do about SSA running out of money was to do . . .nothing. The problem was paying out benefits to Baby Boomers. In 2034, the last of the boomers will be 70, and despite medical advances, a whole lot of them will be gone, and with them the need for a big trust fund. Granted it was a bit tongue in cheek, but things usually aren't as bleak as some say. . . George E.noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-55541665548384629922012-10-26T02:01:31.578-04:002012-10-26T02:01:31.578-04:00I agree with you that the media spins headlines to...I agree with you that the media spins headlines to make them look much scarier than they really are such as your point of people not saving enough vs. lots of people are saving something. I have a related post "are low interest rates just a tax on the wealthy" on my site www.yourwealtheffect.com and hope you can stop by.Wealth Effect Bloggerhttp://yourwealtheffect.comnoreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-12792271967801405792012-10-25T19:08:02.617-04:002012-10-25T19:08:02.617-04:00Like you and others who commented, we've alway...Like you and others who commented, we've always been careful to live within our means. We never earned big money, but have been enjoying pleasant retirement years (18 of them) with no mortgage or other debts.<br /><br />Success or failure in retirement, I think, is a matter of lifestyle and knowing the difference between wants and needs.Dick Kladehttps://www.blogger.com/profile/11793395712483278104noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-33905117965999447992012-10-25T09:01:56.786-04:002012-10-25T09:01:56.786-04:00If you weren't smart about money in your worki...If you weren't smart about money in your working years, the odds are good that you won't be smart about it in your retirement years. <br /><br />Congrats on paying off those student loans. I remember the joy in my father's eyes when he told me he had finally paid off his mortgage. He was in his 70's. He thought he had finally reached financial independence. <br /><br />Douglashttps://www.blogger.com/profile/09752593286034877538noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-19907958162673072262012-10-24T11:04:33.768-04:002012-10-24T11:04:33.768-04:00We are new to the dual retirement arena - just six...We are new to the dual retirement arena - just six months in at this point, but so far so good financially speaking. We are under in every category other than Travel. Travel was always intended to be spent at 100% though, so no problem there.<br /><br />The difference between how we approached spending during our dual working years vs. now, is we are much more conscious and deliberate in making our decisions now. We do so many wonderful things each day that are either free or almost free (being outdoors, hiking, running, biking, attending courses at our college, working in the yard, visiting the library) that we simply have no inclination to destress at the mall, or at an expensive restaurant. I think that paradigm shift is what many still-working folk are unaware of as one of the financially beneficial aspects of retirement.Tamarahttps://www.blogger.com/profile/18248579159497266955noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-29372543000025675632012-10-24T10:01:39.557-04:002012-10-24T10:01:39.557-04:00We live as frugally as we always have. What is en...We live as frugally as we always have. What is enough? We have always lived below our means and never owed more than we can repay. The only thing we have to fear is fear itself. <br /><br />BTW I mentioned your prowess with the leaf blower today in my blog. schmidleysscribblins,wordpress.comhttp://schmidleysscribblins.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-79583072545064247332012-10-24T03:38:43.490-04:002012-10-24T03:38:43.490-04:00Just retired , I've made the Public library an...Just retired , I've made the Public library and the soup pot my best friends ! <br />Of course , we should have saved more for our retirement and organised a better pension . And yes , I wish the contributions to our health plan weren't so high .... but at least we do actually have both pension and health care . <br />And I'm just so glad we didn't begin to worry about getting old before we'd taken the time to be young . I treasure the memories of every journey and adventure . <br />SmitoniusAndSonatahttps://www.blogger.com/profile/11210817141287881808noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-22749479660508233442012-10-23T22:35:06.104-04:002012-10-23T22:35:06.104-04:00Thanks, Galen. For me, the last tuition payment wa...Thanks, Galen. For me, the last tuition payment was a bigger deal than the last mortgage payment.<br /><br />I'm glad to see that a lot of us are doing okay, but I can second Linda's point about dental work. I spent thousands late last year on dental work . . . for one lousy tooth! I also agree with you, Linda, about the worrying. I, too, worried a lot more before I retired than after.<br /><br />Tomhttps://www.blogger.com/profile/08611148987085476580noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-10474511352021487972012-10-23T21:35:19.475-04:002012-10-23T21:35:19.475-04:00We've been living on our retirement income for...We've been living on our retirement income for a couple of years. Our lifestyle is about the same as when we were working, but since we're not saving a bunch every month for retirement, or driving to work, we're good. The biggest unexpected stuff is dental work, since it's impossible to get good independent dental coverage.<br /><br />I worried for years, but don't now.<br /><br />Linda<br />Bag Lady in WaitingLinda Myershttps://www.blogger.com/profile/05706455533282204519noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-47327612566882599962012-10-23T21:07:56.404-04:002012-10-23T21:07:56.404-04:00I am thinking th math is out there to get more mon...I am thinking th math is out there to get more money into investment plans. I see plenty of people working and I think maybe we need less committees and studies to cut the spending. That's a huge waste as are election campaigns! Heidrun Khokhar, KleinsteMottehttps://www.blogger.com/profile/16174142810114806410noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-8838940034645709512012-10-23T19:43:30.714-04:002012-10-23T19:43:30.714-04:00Political pandering to scare seniors for political...Political pandering to scare seniors for political gain. Shameful.,stephen Hayeshttps://www.blogger.com/profile/17659054447637207734noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-77511227262695200572012-10-23T19:42:40.512-04:002012-10-23T19:42:40.512-04:00You're absolutely right, Tom: we hear altogeth...You're absolutely right, Tom: we hear altogether too much from the political and financial sectors who have something to gain from instilling fear. <br /><br />My husband and I have been retired for two-and-a-half years and so far, so good. We live on Social Security and a tiny pension that I have which all adds up to about one-third of what we used to make. But we have no mortgage or any other debts. And that makes a huge difference. We do have our 401K savings but try to take as little as possible out of that because who knows what's down the road?<br /><br />I'm thoroughly alarmed by what I'm hearing from and about the GOP and equally so by the lack of awareness I see in so many of the retirees around me in their eagerness to vote for Romney/Ryan. It just doesn't make sense to me to vote so against one's best interests, but, then, so many rely on Fox News for their information.<br /><br />Thanks for a thoughtful, non-hysterical look at where we are now and what's ahead, Tom. I hope it will be helpful to many out there who are fearful or who are still undecided about voting. It has been helpful to me for sure!Dr. Kathy McCoyhttps://www.blogger.com/profile/02903015507894951725noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-17509429036366264762012-10-23T18:13:13.951-04:002012-10-23T18:13:13.951-04:00I agree, too. Especially once our kids are grown ...I agree, too. Especially once our kids are grown (congratulations on that last college payment!), we have a lot of control over our lifestyle and expenditures. Besides, worrying isn't going to change anything. Hope for the best, plan for the worst, and then release the outcome.Galen Pearlhttps://www.blogger.com/profile/10189831838630645863noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-66741356589567502522012-10-23T15:20:35.167-04:002012-10-23T15:20:35.167-04:00I absolutely concur, Tom, that a lot of what we re...I absolutely concur, Tom, that a lot of what we read is hype. My living expenses were always moderate compared to my income, but they are ceratinly less for the past 11 years of retirement.<br /><br />The only categories that are up are health care premiums and travel. One I can do nothing about and the other is my choice. Everything else is lower than during my working years, some by over 50%.<br /><br />Bob Lowryhttps://www.blogger.com/profile/16843991725692979189noreply@blogger.comtag:blogger.com,1999:blog-626594980028435818.post-64368875495424495712012-10-23T15:13:17.109-04:002012-10-23T15:13:17.109-04:00Glad to hear your thoughts on this. My 401(k) is m...Glad to hear your thoughts on this. My 401(k) is maxed out and I have a government pension coming. Every time I do the calculations, I think YES I can retire after the mortgage is paid off in 2 years. But every time I read one of THOSE articles I begin to doubt myself. Anonymousnoreply@blogger.com