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

[Parkanzky]

If you don't owe anybody any money, any at all what exactly do you think your going to spend 60-80k a year on in retirement? I don't need that much I am fairly happy and I'm not planning on leaving much if any when I pass. We complain about how lazy young people have become well I say it's because we are to easy on them and if they think they are getting a fat inheritance that just compounds the problem. I personally know some of these types I had several of them working for me over the years and it just confirms why I feel the way I do. I hope you live long enough to start spending what your delaying by convincing yourself that you need it.

Are you addressing this to me?

My hobbies are sports cars and working outdoors with the tractor. My wife and I enjoy fine dining and travel. In the last few years, we have been to Hawaii, the Bahamas, traveled around California, and spent three weeks in southern Europe. We look at retirement as an opportunity to take a lot more trips like that.

If you can't imagine us spending it later, what do you propose we spend it on now?

 

[vtsnowedin]

I'm not well heeled enough to travel first class and I find traveling as a run of the mill tourist loses it's charm after a cruise or two. As we were in line waiting to ping our cards to get off the boat at one port the cattle in the chute effect became apparent and my wife turned to me and went Bah-- Mooo.
Tonight we went out for Valentines day dinner at a restaurant that tries to be a bit pretentious. The waitress went through the wine tasting ceremony for a $25 bottle of wine. Like I would ever pretend to know that that bottle was off and not what I ordered. It was good wine and the food was good but I really didn't need the show.
My point is I've been the places I want to see and done the things I could both afford and wanted to do and now I am content to retire to my home and have nice dinners with her cooked by one of us and topped off with that same wine for $13.00 a bottle down at the store without all the fuss. When we are done the kids will get what is left but they hopefully will be well into middle age by then so need to make their own way in the meantime.

 

[Duwop]

Are you addressing this to me?

My hobbies are sports cars and working outdoors with the tractor. My wife and I enjoy fine dining and travel. In the last few years, we have been to Hawaii, the Bahamas, traveled around California, and spent three weeks in southern Europe. We look at retirement as an opportunity to take a lot more trips like that.
If you can't imagine us spending it later, what do you propose we spend it on now?

No not specifically, just thinking some may want to get to living life. There have been several notable people die recently and while they are being respected for their careers I think how sad it is to work until death. Your retirement doesn't sound much different than mine but I don't have a lot of money( not saying you do) I just find ways to do it frugally. If I had to wait until I had 10 to 25 times salary to retire I wouldn't be enjoying life now. I have been asked by a couple of my elders about what I thought they should do given the examples in my previous post about young family members. They seem disappointed in their grandchildren lives who were set to be beneficiaries. These elders didn't live much in retirement as you or I would but thought about leaving their estates to members who they thought hadn't tried very hard in life for themselves. I say live, travel, get hobbies and if you have any left and want to give to your loved ones do so while your alive so you can see the benefits of your labor and it might also answer what you should do with it when you die. Just as retirees are convinced that they need lots of funds in investments most young people are convinced that most of their wants are needs and are **** bent on staying broke and why should they benefit from your life's work and savings. I'm not saying I'm right I have five children and I know a few are going to be disappointed but they are the ones that are not doing the best they can as for the others I raised them to save and be self reliant they don't want or need my life's work they are making their own. I made my luck too!

 

[KiotiKowboy]

My wife and I don't have any children, and I could understand the desire of those that do to leave an estate. But as it stands, there's a good change we're going to be making a high-seven or low-eight figure gift to whatever organization is most important to us the last time we revise our will. We're happy to do that, but I think that we're also entitled to enjoy some of the wealth we've worked and sacrificed for, even if it means that some good charities get a bit less.

>>>>>>>>>>>>>>>> Second Chance Pet Rescue of Grove and Grand Lake <<<<<<<<<<<<<<<<<<<
Humane Society of Grove, Ok.

 

[MinnesotaEric]

>>>>>>>>>>>>>>>> Second Chance Pet Rescue of Grove and Grand Lake <<<<<<<<<<<<<<<<<<<
Humane Society of Grove, Ok.

As much as I love my labradors (and I'm on my second rescue dog too), people are always more important in my mind and as such my fav charities are soup kitchens like Union Mission Gospel which last year provided housing and 375,000 free meals here in the Twin cities last year on a shoestring budget.

I also love the Salvation Army.

And donating money to help people with severe disabilities and handicaps communicate is a good place to pour resources as they are continually underfunded.

 

[mikehaugen]

As much as I love my labradors (and I'm on my second rescue dog too), people are always more important in my mind

I agree, and I don't believe anyone was looking for suggestions.

If I had that kind of gift to give I have a couple ideas of my own as there are people in my close to me that would/could benefit from certain organizations, but I will keep my thoughts to myself.

 

[MinnesotaEric]

I agree, and I don't believe anyone was looking for suggestions.

If I had that kind of gift to give I have a couple ideas of my own as there are people in my close to me that would/could benefit from certain organizations, but I will keep my thoughts to myself.

Somebody must advocate for those of us who cannot!

 

[JDgreen227]

My wife and I don't have any children, and I could understand the desire of those that do to leave an estate. But as it stands, there's a good change we're going to be making a high-seven or low-eight figure gift to whatever organization is most important to us the last time we revise our will. We're happy to do that, but I think that we're also entitled to enjoy some of the wealth we've worked and sacrificed for, even if it means that some good charities get a bit less.

I too don't have any children, but do have a pair of very responsible nephews in their middle 20's...even when I remarry my new will intends to have a provision for them. May not be my place to say this, but to those who intend to bequest a gift to an organization, check very carefully to learn how much of it will actually be used for the worthy and that the operation actually is claimed to serve. It galls me no end that sometimes much of donations to a "charity" go mainly to enrich the executives who run the operations.

 

[JerryK]

I too don't have any children, but do have a pair of very responsible nephews in their middle 20's...even when I remarry my new will intends to have a provision for them. May not be my place to say this, but to those who intend to bequest a gift to an organization, check very carefully to learn how much of it will actually be used for the worthy and that the operation actually is claimed to serve. It galls me no end that sometimes much of donations to a "charity" go mainly to enrich the executives who run the operations.

Ditto on that..!!!!! But I guess someone has to pay for them thar big houses on the sides of those Colorado mountains......

 

[vtsnowedin]

It galls me no end that sometimes much of donations to a "charity" go mainly to enrich the executives who run the operations.

+1.....