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Wishful Wednesday

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Re: Wishful Wednesday

  • minskat30minskat30 member
    2500 Comments Fifth Anniversary 500 Love Its Name Dropper
    @TwoDimes - Honestly, I don't think we can retire on $1 million as we currently live life in the U.S.  I think we could in a foreign country like India and maybe parts of Mexico. Like I said though, it would mean living off of $25,000-$40,000 a year (without home/loan/car debt) and that is before taxes. I think we need more (I'm thinking $2 million at least) or need a good rental income stream from investment properties.  We have been cutting the day to day stuff that really does add up (going out, throwing away food/not meal planning, more efficient tax planning...we recently cut our cell bill by like 70%).  We butt heads on saving/spending and I'm sure he would do much better without me in hitting his financial goals but then he'd be without me and, honestly, why would he want to make that sacrifice?  ;)

    @peaseblossom55 - All the vibes for pregnant by the end of this year.  
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  • lavenderfields13lavenderfields13 member
    Seventh Anniversary 500 Love Its 1000 Comments Name Dropper
    @peaseblossom55 Glad to hear your results were normal! All the vibes for passing the test and getting pregnant!
     




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  • jenjen047jenjen047 member
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    @peaseblossom55 - glad your MRI results were positive!

    RE: $1,000,000 to retire - I'm not a financial planner by any means, but $1 million at age 65 would give $30-50k per year to live on for 20-30 years. Without mortgage or car payments, that seems like a lot of money to spend on food, travel, entertainment, shopping, gifts, etc. Am I being totally dense about this?
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  • AlPacinaAlPacina member
    Sixth Anniversary 1000 Comments 500 Love Its Name Dropper
    edited September 2015

    @minskat30 - Hearing you talk about spin class is cracking me up lately, since I watched the first season of Unbreakable Kimmie Schmidt on Netflix. Have you seen it?
    image

    @MissKittyDanger - I'm sorry about the root canal! I absolutely hated the experience.

    @Swazzle - You're so lucky that your root canals weren't bad! Honestly, though, my root canal was only my second appointment with the new dentist I chose when I moved (The first was to tell me I needed a RC), and I never went back to him because the process was so uncomfortable. I felt like maybe he was a shitty dentist.

    ---------------------------------

    Would $1,000,000 be enough for you to retire on if your house and car were paid off? Maybe if I had a ton of equity amongst lots of expensive items (houses, cars, etc.) as a supplement, but I doubt it. Especially since we're talking USA dollars 30+ years from now.

    Where would your dream location be to retire?

    image

    Costa Rica (Specifically, a mansion)

    Would you still work (albeit with less stressful)? Volunteer? I think I've talked about it on here. I want to open a dog daycare at my home! Hopefully we'll own some property by then.

    When do you think you will be able to retire? I don't know. I get matched by my company in my 401k and I started early, so I hope it will build up. I'm not very good with investing, so unless my BF takes the lead on that we will probably not retire before 65.

    What are you wishing for today for yourself? For someone else? I don't think I'm wishing anything for myself except to not ruin dinner. I'm wishing BF's family will start sorting their shit out and get along again. BF has really seemed affected by the day we spent with them this weekend.


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  • labrolabro member
    5000 Comments Sixth Anniversary 500 Love Its 5 Answers
    @jenjen047 Don't forget about health care, long term care, emergency medical care.

    $30k per year is $2500 per month before taxes. You still have to pay taxes. You still have to pay property tax even if your mortgage is paid off. You still have other bills. IMO $1,000,000 isn't going to be enough for anyone unless you want to live a basic existence in your old age.

    Lots of people don't plan for an exceptionally long life, or major medical issues, and that's where you get in to big trouble.



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  • MissKittyDangerMissKittyDanger member
    Tenth Anniversary 10000 Comments 500 Love Its 5 Answers
    @AlPacina "Unbreakable Kimmy Schmidt" is hilarious! @minskat30 you have to watch :)
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  • jenjen047jenjen047 member
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    @labro @twodimes @minskat30 - Good points. Thanks. See, this is why I have a financial planner. He just tells us how much we need to set aside each check and we do it.
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  • [Deleted User][Deleted User] member
    5000 Comments Fifth Anniversary 500 Love Its Name Dropper
    labro said:
    TwoDimes said:
    I should also add: H and I are planning (with the help of our financial adviser) to fund our entire retirement ourselves. There's no guarantee there will be any SS income or other government assistance by the time we retire, so we have decided not to count on it. If we get any, bonus! If not, we'll be prepared.
    Samesies. Anytime anyone tries to tell me about getting Social Security I tell them we might as well just forget it. Government funded retirement is not going to exist for us.
    Same here!
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  • AuroraRose41AuroraRose41 member
    Ninth Anniversary 1000 Comments 500 Love Its Name Dropper
    @peaseblossom55 glad your results were positive and that you have good things in your life right now! 

    Hi there. I know I have been in and out a lot lately, but I think I am going to start knotting at work again (having breakfast at home now though). What's done is done layoff wise, so I honestly don't care anymore. I also really impressed my manager last week, so who knows. I haven't heard back from the fruit company yet, but I don't think I want to work for that person anyways after giving it more thought. 

    So this will be a post and run (I will answer the questions at work and respond to more of you), but I need NEY's advice on something that's really bothering me. Do you remember that crazy bride that I was a bridesmaid for and dropped out of the bridal party? The one with the insane bridal shower that she planned herself? Well, FI and I still planned on going to the wedding, which is in a week and a half, to support the groom. He is also our friend, and we figured he would need all of the friends he had to deal with her that day. We already RSVPed yes, and we are flying to NY next Tuesday (to make a trip out of it and visit family beforehand). 

    Last night, the groom posted some of his political views on Facebook. Some of them were about marriage. There are 62 comments and countless comment replies on this status, all of which are the groom and the bride's brother attacking anyone who doesn't think the term "marriage" is a religious term (I didn't even get into it, but I don't agree). The groom basically is arguing that the term "marriage" should not apply to any ceremony that isn't religious and that changing the legal definition of marriage is something that he supports. 

    I am really struggling with this. How can I support someone's marriage who doesn't believe the term marriage will apply to FI and I when we get married? I have half a mind to change our RSVP to a no a week and a half before their wedding. The RSVP date has already passed, but I know I won't be happy to watch this ceremony after the way she treated me and knowing what he thinks of our wedding plans. What would NEY do?

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  • AlPacinaAlPacina member
    Sixth Anniversary 1000 Comments 500 Love Its Name Dropper
    speakeasy14 said:
    Guys, I'm changing my retirement plans, this is my new retirement plan: Click 


    I didn't see them advertising pinochle or buffets, though. Make sure they have buffets........... and pinochle.

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  • speakeasy14speakeasy14 member
    2500 Comments 500 Love Its Second Anniversary Name Dropper
    @aurorarose41 that is really frustrating.  Are your flights, hotel, and everything else refundable?  I don't think I would be comfortable going to that wedding; though the mean girl in me would still want to go just to see how much of a train wreck it is. If you both really do not want to go, and you can't cancel your flights, then I'd say just stay with your family. 
    image
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  • labrolabro member
    5000 Comments Sixth Anniversary 500 Love Its 5 Answers
    @speakeasy14 That's amazing!

    @AuroraRose41 Have you already bought your tickets? Can you get a refund or at least re-use the value somewhere else? I'd go if you're going to be out money by staying away. But if there's no monetary loss then I would just say forget it. You've had a sudden emergency come up. ;)



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  • lavenderfields13lavenderfields13 member
    Seventh Anniversary 500 Love Its 1000 Comments Name Dropper
    @AuroraRose41 I would not want to go to that wedding either anymore. I second PPs - if you're going to lose money I'd probably just go - or just take the trip and spend more time with your family. And I second @AlPacina about people's opinions on FB. I mean everyone on FB knows how I feel about marriage equality and I have no qualms about posting my support but the second I see someone posting the opposite of my views I feel so much anger towards them. I have one "friend" who I really should have deleted awhile ago and I don't know why I haven't yet. 
     




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  • AlPacinaAlPacina member
    Sixth Anniversary 1000 Comments 500 Love Its Name Dropper
    @TwoDimes - I vote you two start selling plasma and semen NOW, as often as allowed (or more) to supplement the savings. Anything to get you on that trip! I hope you get to go eventually!

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  • speakeasy14speakeasy14 member
    2500 Comments 500 Love Its Second Anniversary Name Dropper
    @twodimes I want all of that. My grandma vacations all the time, and even pays for my entire family of 15 to go on vacations. She's only 70 though, and constantly complains about not having money.  I want to be able to live a life of travel without worrying if I'll be able to eat.  Once I pay off my student loans I plan on adding more to my 401k contribution and savings. 
    image
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  • bethsmilesbethsmiles member
    10000 Comments Sixth Anniversary 500 Love Its First Answer
    @AuroraRose41 - Like PPs have stated, it depends on if you want to continue the friendship or not. If you do then I think you should go, being happy for someone and celebrating their love/happiness isn't equivalent to agreeing with their beliefs. If you are ready to cut ties then I'd skip the wedding.



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  • [Deleted User][Deleted User] member
    500 Love Its 500 Comments First Anniversary Name Dropper
    @AuroraRose41 - I would probably not go to that wedding.  You wouldn't feel able to celebrate, and I sort of feel like a wedding where you can't celebrate the marriage is a wedding you shouldn't go to.  (Unless it's immediate family, but there are so many other dynamics at play there.)
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