Are you "lucky"if you have a secure retirement?

TomSeller · Feb 16, 2015

ovrszd said:
I hear ya.

I've referenced my Brother a couple times in this thread. He is a shrewd money man. He'll do anything he can to come out on top of even the smallest money transaction. He'll use that shrewdness to further himself financially against all oncomers including his own family. He now resides in a VA home with terminal COPD at 66. I wonder what comfort his financially "Wise" decisions give him today??

It's pretty hard to claw your way to the top financially without leaving some marks somewhere along the way.

I guess he has "self reliance and freedom" as HS seeks. Not the kind if life I would want to live.

houstonscott · Feb 17, 2015

TomSeller said:
I guess he has "self reliance and freedom" as HS seeks. Not the kind if life I would want to live.

Most people with your point of view I've come across in life either lack ambition or just weren't successful, and now claim their situation is what they like, what a crock, good luck justifying that to your self and others and celebrating your race to the bottom. HS.

TomSeller · Feb 17, 2015

houstonscott said:
Most people with your point of view I've come across in life either lack ambition or just weren't successful, and now claim their situation is what they like, what a crock, good luck justifying that to your self and others and celebrating your race to the bottom. HS.

I bet I have more money than you do. What is your net worth?

houstonscott · Feb 17, 2015

TomSeller said:
I bet I have more money than you do. What is your net worth?

You'd have to be well north of 4 million. Give your number if above that and I'll tell if you won. HS

Capricious · Feb 17, 2015

Pretty-much "on topic:"

Bad Social Security choices: Did your brain trick you?

Parkanzky · Feb 17, 2015

TomSeller said:
I bet I have more money than you do. What is your net worth?

Before this devolves into a pissing match, please consider that you're both right (You're also both wrong).

My wife and I devote a lot of our time to increasing our wealth. We both work a lot of hours and take "professional growth" courses to benefit our careers. Even though most people imagine that everyone with our income hires everything out, we do things like clean our own home, file our own taxes, work on our own cars instead of paying someone else to do it, etc. so that we can save more money.

But we aren't accumulating money as an end unto itself. We're buying something with it. I consider that hard work/extra time/small sacrifice to be an investment into what Scott is calling our security. I can sleep easier knowing that we could weather a major illness, losing our jobs, etc. We're also setting ourselves up for a comfortable retirement, hopefully early enough to enjoy a number of years of good health. Finally, we use some of our income to enjoy ourselves now and have the means to help out charities we care about or friends and family members when they need a hand.

There's nothing wrong with wanting to earn or save more money. That money can buy you some leisure later in life. Also, the more you have, the more you can use to do some good by helping people in need or advocating for causes you care about.

The problem comes when people forget that money is just like your roll of tickets from Chuck-E-Cheese. You've got to stop at the counter every once in awhile and trade them for something of real value (Sometimes an object, but in this case more often it should be "time," "an experience," or "a helping hand"). Once you leave the restaurant, they're worthless...

Money is a tool. If you don't respect it at all, you'll have a tough row to hoe. On the other hand, if your entire focus in life is the accumulation of wealth for the sake of having more wealth, then I think that you're missing the point.

ovrszd · Feb 17, 2015

TomSeller said:
There are those who believe this and seek to obtain more and more money no matter the methods or consequences. In other words, money is the root of all kinds of evil.

Do you know my Brother??? Sounds like it.....

houstonscott · Feb 17, 2015

Parkanzky said:
Before this devolves into a pissing match, please consider that you're both right (You're also both wrong). My wife and I devote a lot of our time to increasing our wealth. We both work a lot of hours and take "professional growth" courses to benefit our careers. Even though most people imagine that everyone with our income hires everything out, we do things like clean our own home, file our own taxes, work on our own cars instead of paying someone else to do it, etc. so that we can save more money. But we aren't accumulating money as an end unto itself. We're buying something with it. I consider that hard work/extra time/small sacrifice to be an investment into what Scott is calling our security. I can sleep easier knowing that we could weather a major illness, losing our jobs, etc. We're also setting ourselves up for a comfortable retirement, hopefully early enough to enjoy a number of years of good health. Finally, we use some of our income to enjoy ourselves now and have the means to help out charities we care about or friends and family members when they need a hand. There's nothing wrong with wanting to earn or save more money. That money can buy you some leisure later in life. Also, the more you have, the more you can use to do some good by helping people in need or advocating for causes you care about. The problem comes when people forget that money is just like your roll of tickets from Chuck-E-Cheese. You've got to stop at the counter every once in awhile and trade them for something of real value (Sometimes an object, but in this cases more often it should be "time," "an experience," or "a helping hand"). Once you leave the restaurant, they're worthless... Money is a tool. If you don't respect it at all, you'll have a tough row to hoe. On the other hand, if your entire focus in life is the accumulation of wealth for the sake of having more wealth, then I think that you're missing the point.

Well said. HS

Danny C · Feb 17, 2015

There is no such thing as luck. Life is what YOU make of it. Intelligence, knowledge, hard work, potitive thinking, patience, planning and dilligence are all great, but one needs to be able to piece all of them together to be successful. You have to sell yourself.

With all that being said, the OPs friend seems to be blaming everyone else for his lack of planning, dilligence and perhaps even patience. Jealous of the OP for being smart, making a plan, being patient and dilligent.

Money can certianly buy freedom. Freedom from debt, freedom from banks, etc. With enough of it, you can buy the freedom to do as you like (I'm not talking about illegal activity or bribes here). However, one can easliy become a slave to their belonging and desires.

IMO, oine has to be careful to not fall into the consumption trap, especially the consumption of depreciating assets and instead focus on ethically and morally building equity and generating wealth.

If you're the smartes person in the room, find another room! - Danny

bcjmmac · Feb 17, 2015

I'll probably mess this up (I.e. not put this across very clear, or send the wrong impression) but here goes;
As an initial reaction, I would yes "I am lucky" to have a secure retirement even though I am not fully retired yet. Then, as I think about it a bit longer, I don't think I am all that lucky. I didn't win the lottery, didn't & am not going to get any kind of meaningful inheritance ($$ wise at least), haven't made a mint in the stock market, etc.
What I did do was leave home after University because I wanted to see the world; got accepted into a demanding profession & devoted myself to my career (within reason/didn't sacrifice my family to do it); met, married & stay married to a great woman (luck involved there but also a good bit of effort at times); moved around the world with my job when many others didn't want to (a bonus in my opinion); have great kids (thanks to my wife mainly) who have started their own careers now; began saving early (mainly as a tax reduction measure in the early days); have always tried to live within our means & have continuously upgraded my education (via structured courses or self education/study as applicable).
I think I was lucky to be born in a great country, to have great parents that instilled good values & taught us from an early age to save money/avoid bad debt (can't say that all my siblings learned that lesson) and be self reliant (when possible; grow your own food, do your own maintenance, build stuff, etc). I/we've tried to instill those values into our children and believe we have been successful.
In summary - I still think I am lucky to have a secure retirement planned, but a lot of that luck had to be earned, one way or the other.