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Old 03-15-2015, 09:27 PM   #41
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Originally Posted by cam_wmh View Post
Sorry to sidetrack, but you're finished university and your mom is 36?
How old are you?
My woman = significant other.

I call my mother "mom". I don't know anyone who calls their mom "my woman"
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Old 03-15-2015, 09:28 PM   #42
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Sorry to sidetrack, but you're finished university and your mom is 36?
How old are you?
Haha, please tell me this was an unintentional misread.
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Old 03-15-2015, 09:29 PM   #43
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Really? I've known many people who say they wish they'd saved more, but I'm older than you are and my job is to talk to people about their money.
I have some older relatives that are broke as hell in old age. I can tell you they wish they saved more and aren't having much fun.mThere is no "magic fix" for people who haven't saved and don't die prematurely.
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Old 03-15-2015, 09:29 PM   #44
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Future dollar 60k /yr in year 2050 or however old you are, to last until say you're 85 or so, is a #### ton of money. You should aim lower if you're not planning on saving like you seem to imply. (sorry, didn't quote but was meant for rube cube)
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Old 03-15-2015, 09:32 PM   #45
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Future dollar 60k /yr in year 2050 or however old you are, to last until say you're 85 or so, is a #### ton of money. You should aim lower if you're not planning on saving like you seem to imply. (sorry, didn't quote but was meant for rube cube)
Not sure I understand what you mean.
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Old 03-15-2015, 09:36 PM   #46
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Not sure I understand what you mean.
I actually might be misinterpreting you too. Do you mean 60k now is enough for you, or that's the annual income / amount you want to live off when you retire?
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Old 03-15-2015, 09:45 PM   #47
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I actually might be misinterpreting you too. Do you mean 60k now is enough for you, or that's the annual income / amount you want to live off when you retire?
I meant now. Right now I can technically get by on $30k/year, but it doesn't leave much room for entertainment besides some booze on the weekends. $60k/year would be more than enough for me.

Cool story time, but in the past I was seriously considering doing law school because I'm interested in law and the money is better than what I'm making now. However, lately I've been reconsidering the prospect because it likely means me taking on another 4-6 years of school and another $40k in student debt. If I consider those commitments added to my current ones, I'm looking at basically 15-20 years before I can consider myself free of obligations and able to control my time as I want it (within the added parameters of my employment of course), so I've pretty much decided to forego that route.
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Old 03-15-2015, 09:49 PM   #48
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Old 03-15-2015, 10:10 PM   #49
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I was lucky enough to get a Scholarship that paid for most of my tuition, and housing during my undergrad. I still worked during this time, and had no expenses. Im lucky enough to have graduated with no student debt. I have a decent amount saved up right now for a man in his early 20's

But I've always considered this money as saving's for a awesome trip, or a eventual downpayment for a house. At what age did you guys actively start planning financially for retirement?

Last edited by fulham; 03-15-2015 at 10:17 PM.
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Old 03-15-2015, 10:18 PM   #50
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I was lucky enough to get a Scholarship that paid for most of my tuition, and housing during my undergrad. I still worked during this time, and had no expenses. Im lucky enough to have graduated with no student debt. I have a decent amount saved up right now for a man in his early 20's

But I've always considered this money as saving's for a awesome trip, or a eventual downpayment for a house. At what age did you guys actively start planning financially for retirement?
You sir, ate a unicorn
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Old 03-15-2015, 10:22 PM   #51
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My woman = significant other.

I call my mother "mom". I don't know anyone who calls their mom "my woman"
Happily, I don't know anyone who calls their significant other "my woman".
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Old 03-15-2015, 10:28 PM   #52
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yeah, it would blow chunks to be a cheapas$ until you are 50 and then die of either a heart attack or cancer. I would be one angry ghost
This is exactly whats happened recently in my family and its changed things as far as mindset goes.



Have now begun to realize that saving all the money for the time in life when you won't be able to enjoy it, is pretty regrettable. That is, if you even make it to that point in life. Otherwise someone else gets the fruits of your labour.

Need to add, in my situation there is no plan to retire. Own my business, the work is easy and fun and isn't physically taxing so other than major health problems in my old age, have no problem continuing to work or even do a bit of consulting.

Not everyone has that advantage - if you are planning to stop working you'll have to save and that's it. But if you don't plan to retire it certainly is nice to afford yourself a couple luxuries here and now.

Should add, not advocating to take on consumer debt or live paycheck to paycheck. That's just stupid. But there certainly is something to be said for living in the here and now, at least to some extent.
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Old 03-15-2015, 10:33 PM   #53
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Originally Posted by fulham View Post
I was lucky enough to get a Scholarship that paid for most of my tuition, and housing during my undergrad. I still worked during this time, and had no expenses. Im lucky enough to have graduated with no student debt. I have a decent amount saved up right now for a man in his early 20's

But I've always considered this money as saving's for a awesome trip, or a eventual downpayment for a house. At what age did you guys actively start planning financially for retirement?
I mirror this for my early life. I started to save as soon as I finished university at 23 and hired a financial adviser. However, when I got married at 27, disposal money was there no more and wife took the rein as CFO of our household.

Looking at a couple of pension plans, personal mutual fund investments, we should be at 100K/year at retirement (might be worth 50K in today's dollar pending inflation), provided that economy performs at reasonable rate. I don't expect to live beyond 80 years old. Anything beyond that is gravy.

Last edited by vtec260; 03-15-2015 at 10:35 PM.
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Old 03-15-2015, 10:38 PM   #54
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i mirror this for my early life. I started to save as soon as i finished university at 23 and hired a financial adviser. However, when i got married at 27, disposal money was there no more and wife took the rein as cfo of our household.

looking at a couple of pension plans, personal mutual fund investments, we should be at 100k/year at retirement (might be worth 50k in today's dollar pending inflation), provided that economy performs at reasonable rate. I don't expect to live beyond 80 years old. Anything beyond that is gravy.
lol
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Old 03-15-2015, 10:45 PM   #55
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Happily, I don't know anyone who calls their significant other "my woman".
Happily, I don't know anyone who would stake their happiness on that.
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Old 03-15-2015, 11:50 PM   #56
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My woman = significant other.

I call my mother "mom". I don't know anyone who calls their mom "my woman"
Lol, oh jeez, apologies I totally misread.
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Old 03-15-2015, 11:58 PM   #57
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Happily, I don't know anyone who calls their significant other "my woman".
I do know a few women who call their male partner "my man". Still better than "hubby" though.
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Old 03-15-2015, 11:59 PM   #58
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I mirror this for my early life. I started to save as soon as I finished university at 23 and hired a financial adviser. However, when I got married at 27, disposal money was there no more and wife took the rein as CFO of our household.
Really? You don't even have a personal spending account? She better be a full fledged accountant, otherwise your man card has been taken away.
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Old 03-16-2015, 12:02 AM   #59
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Awaiting the "I was financially ready when I was 35 because I was smart with my money, it was easy for me, it's easy for you" comments.
I was financially ready when I was 35...

...to finally start saving for retirement.
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Old 03-16-2015, 12:04 AM   #60
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Anyhoo, after my embarassing, misread derail.

35 yrs, and I have a defined benefits pension, with 10 years invested.
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