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

[texasjohn]

Yep, its part of the equation your insurance company uses to decide what risk group you fall into.
See https://www.esurance.com/insurance-resources/credit-score-myth for more info

Aaron Z

I learn the darndest things on a tractor site! I searched and discovered that there is a site funded by the Texas Department of Insurance which gives sample rates from lots of insurance companies for a particular zip code and insurance amount...better yet, my company, AMICA, is the cheapest A++ rated company, by a LOT. Yes, credit score is a factor. Good to know.

https://apps.tdi.state.tx.us/helpinspublic/ResProfileAction.do?d-4022653-o=2&covAmtCd=H3&resClaimHstyCd=N&d-4022653-s=4&cntyCd=246&creditScrCd=H&resRepAgeCd=H3&submitBySelect=N&resConstructCd=B&zipCd=78628

 

[Pixguy]

OK, so for another thought starter: A few of us have planned our retirements well and have plenty of savings and funds available, are free of debt, have good health and can probably live for a long time. I'm pretty lucky to say the least. Clearly the next rounds of 'generations' aren't going to be doing so well and will press Governments to funds their lifestyles with welfare, cheap housing, transportation and food. Where will the money come from ? I'm betting that 'THEY' are going to steal, tax, acquire, confiscate and or 'borrow' OUR retirements monies. What can we do to 'hide' our savings from 'THEM' so that we can convert it to sustainables as we need it ? .............

I'm in the same boat and wonder the same.

 

[jix]

You left out that I am fairly decent looking, have good table manners, am kind to stray cats, and help old ladies across the street.

And....YOU HAVE SUCH A SENSE OF HUMOR, JDG...>Chuckle<:laughing::laughing:

 

[DFB]

Yep, its part of the equation your insurance company uses to decide what risk group you fall into.

Aaron Z

Ya just miss a few payments and see what happens! :shocked:


I think its a lot tougher today for the youth to get established. Less factory jobs for the masses, not everybody is cut out to be in business for themselves, stock volatility, low savings bank interest, rising property taxes especially to pay for ever increasing municipal budgets. Even safe little vehicles like savings bonds that where once great aren't so great anymore. Rising college level educational costs, lack of secondary school technical training...interesting to where its all heading. Not that it cant be done.

There seems to be a lot of regression in the way younger people live today, back towards a century ago. Family units grouping up together sharing housing, longer work hours, declining pay scales and benefits. Just an example from my little viewpoint is a friends son after high school lived at home, worked a few menial jobs, decided at 24 to go to college (a plus) now pushing 30 just starting career. At least he's on his way...on the other hand I was working steady since high school even with the bad economy, then married and set up savings. Had a new auto (the only one in my life :laughing: ) and was headed into the most prosperous decade yet to come for me. And my cousin after high school it seemed he couldn't find suitable work his dad gave him an ultimatum find work or enlist! I have to say he turned out well though after his illustrious navy career he came back home went back to college got a chemistry degree, and has been a Post Office letter carrier ever since

 

[Egon]

Economics have always been beyond my grasp. It seems there are many terms & acronyms and learned folks that can easily converse in these terms befuddling the uneducated like myself.

Now, I have come to think it's not that complicated.

Namely:
Them that have a big hammer believe they can influence. Them's with a bigger hammer know they can influence. Those with the biggest hammer don't worry as they are the influence.

 

[vtsnowedin]

OK, so for another thought starter: A few of us have planned our retirements well and have plenty of savings and funds available, are free of debt, have good health and can probably live for a long time. I'm pretty lucky to say the least.

Clearly the next rounds of 'generations' aren't going to be doing so well and will press Governments to funds their lifestyles with welfare, cheap housing, transportation and food. Where will the money come from ? I'm betting that 'THEY' are going to steal, tax, acquire, confiscate and or 'borrow' OUR retirements monies.

What can we do to 'hide' our savings from 'THEM' so that we can convert it to sustainables as we need it ? I'm thinking a 'portfolio' of gold and silver coins, collectables, antiques, special cars and trucks, machine tools, etc. I've already started. When we reach 70-1/2 we all will have to start draining our IRAs by increasingly higher fractions every year (by IRS rules) or lose it at 50% tax rate. So, what things today are the collectables for 'tomorrow' that we can buy now as investments with this money? Things that will make people say "Geez, I had one of those when I was younger, wish I had one now". I tend to be attracted to metal stuff and some forms of tools and gadgets. Maybe a car or truck and a tractor and of course some weapons of mass destruction and ammunition.

For example, what new or used cars of today will be the classics in 10 to 20 years (The 57 Chevy's of tomorrow) ? I think we need to collaborate...

I'm unclear on which "Them" are going to steal it. The younger generation or the government?
I'm not so worried about the next generation as mine are all college educated and employed. They will get their inheritance when the wife and I are done with it but they don't need it now. We've already given one hers in the form of land to build a house on. We'll do a life estate on the house so that the daughter that gets that will already own it and not have to go through probate. The other might just get her land for Christmas next.
You can always take your mandatory withdrawals and buy gold and silver or land and place that in your kids possession
No need of giving the government any extra they have already taken you for a kings ransom over the years.

 

[texasjohn]

I'm in the same boat and wonder the same.

Maybe a topic for another thread!!

 

[jix]

My old friend from army days, Shakey, once said. "I got some money saved up. I am going to put it into houses and lots, and retire next year".... Everyone stared at Shakey, "houses and lots! " one guy replied. " too much hassle, why not just put it in the bank? "

"No" said Shakey, "I mean ***** houses, and lots of booze"...Coffee break was over!:mischievous:

 

[3930dave]

Namely:
Them that have a big hammer believe they can influence. Them's with a bigger hammer know they can influence. Those with the biggest hammer don't worry as they are the influence.

I'm a simple guy. Those hammers sum it up well.

Is it OK if I borrow that quote once in a while ?

Rgds, D.

 

[jrclark]

Very shocking in here is the median savings account balance of 3,000 to 12,000. I wish that was broken out by age group.

It could also be that some people are smarter these days and shift their savings monies to an actual interest bearing account. The wife and I have a fair amount in liquid savings now, but once the house is complete, we'll probably move the remaining savings along to a more productive place.