Nah, spend money like a champ or you lose motivation to make more.
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Retirees: How much money do you have in the bank?
- Thread starter OldCharlie
- Start date
You are an unsecured creditor to bank when you deposit your money. The FDIC is broke.
Except for the risk, a showbox under your bed is better than a bank.
There is no way to predict how much "money" to have saved up, cause "money" is going away and changing. So is "value", but I am betting on 5000 years of tradition to hold some of mine, through whatever change the dims hold in store for us.
#1 is to own the land and home you live on.
Except for the risk, a showbox under your bed is better than a bank.
There is no way to predict how much "money" to have saved up, cause "money" is going away and changing. So is "value", but I am betting on 5000 years of tradition to hold some of mine, through whatever change the dims hold in store for us.
#1 is to own the land and home you live on.
I owe nobody nothing, live a simple life, and have no stress. That’s what I call self sufficient...
thats the spirit my man! you cant take it with you
I heard from a talk show guy that travels, that the happiest people he saw were kids playing in the slums of India. I am a little old to be playing in the dirt with a loincloth on but the point is taken. Money owns you somewhat. That said, where do I get more?
I have a few hundred thousand in the bank but with Biden or similar that money could be worth less in a hurry. When things go south as I think they will, the only people that will be safe from it are what you call rich or multimillionaires. Comfortable will not be enough. You will have to be a filthy rich basturd to remain solvent or without worry.
how deep is the water? grab your swim trunks and mask bud and well get it all back
/or better yet, draw a map and lets have a show on discovery channel about recovering buds lost treasure!
G
Guest
70+ age. No debt. Big piece of well watered land. Generous age pension. Enough in the bank for emergency medical. equal resources kept under the mattress and can .... .... each summer. Will die before I 'm broke. Only crumbs to leave for kids. Bad luck for them. No worries for me!
Rule #1 don't discuss finance with strangers on the net.
No debt is key. Go in to retirement solvent with some diversified back up and don’t expect to live large. I was always considered self-employed, so I don’t have a private pension and relying solely on the gov’t pension isn’t the wisest plan - but our (mostly) free medical care certainly helps to bolster that. We have term deposits, some safe stocks, some physical gold, and we live in paid-for house in a constantly booming real estate market.
bibi40
Well-known member
perhaps the best idea !
Never post something you don't want the world to know. Posting how much Money we have is not a good idea.
Money and what to do with it is an interesting subject. I have seen the value of putting some away in Vanguard offerings. Over a three year period my $3k was transformed into $6k. Tough times caused me to spend it but now I am watching the high return markets for a $10K investment.
rod58
Active member
an old friend who was about 65 at the time and i was broke and 35 , said to me , " you accumulate the most amount of money in the final years of your life " .
now i'm his age and i understand ! own your roof and the rest falls into place .
a matter of interest , i own all my stuff and have a few hundred grand , but .. cos i already own everything , what is there left to buy !
makes me laugh , spent my life striving for it and now i couldn't care . and i do get it that some have got to my age and have nothing ..
now that would make it different !
now i'm his age and i understand ! own your roof and the rest falls into place .
a matter of interest , i own all my stuff and have a few hundred grand , but .. cos i already own everything , what is there left to buy !
makes me laugh , spent my life striving for it and now i couldn't care . and i do get it that some have got to my age and have nothing ..
now that would make it different !
Banks have a habit of claiming the contents of SDBs, called "sweep". I don't trust them, cause I have to beg to get tp my stuff.
Rod58 is right, but making money by working is a lot harder as you get old. Being debt free, and having some income, is the key. If that income involves the US guvmint, that is a big risk. They are broke. Inflation is how they are going to fix the debt problem, so better have assets that hold value and can't be taxed or taken. The only ones I know of are metals
