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

[JDgreen227]

Thanks to all the members who have contributed...you have given the rest of us much to ponder over. Love what tcreeley has to say about comparing life to a marathon!!!

I used to work with a man who suffered CP and was confined to a wheelchair, and he had such a strong work ethic he kept moving up the ladder. One day he told me that he viewed life as a poker game...we were dealt a hand of cards (circumstances) and how we played our cards often determined our fate. Quote: "I got dealt a wheelchair and I could either feel sorry for myself and let it hold me back, or I could use it to take me places to educate myself and strive to be productive in society. The choice was mine..."

 

[jix]

I reads this thread counting my blessing of a military pension, after thirty years with my nose to the grindstone.
Those years were tough to stick with, very tough. I wanted to chuck it many times, but that pension was a carrot on a stick. Turns out I made the right choices along the way, but it wasn't guts. It was the way that I saw so many others who quit being on hard scrabble incomes afterwards, and retiring on beans. Now I se the wisdom of long term sacrifices, rather than short term indulgences. I did miss out on some nice holidays and flashy cars, but I would much rather have the peace of mind of an ample secure pension. The story of the ant and the grasshopper is well remembered from school days. The future is hard to predict, but not the outcome of poor choices.

Pass the word.

 

[Capricious]

I credit some of our (wife & I) financial wisdom to a rough start. I rode on employer into chapter 7 liquidation, while the wife went through (2) permanent lay-offs in the first 4 years of her working career. We learned early that "good times" are not permanent.

We never made much money, but we spent even less. We kept putting-off the decision to have kids because we didn't feel we were in a financial situation where we could give them the life we thought they should have. By the time we felt we were in a financial position where we could consider having kids, it was a little late for that. Maybe just as well, as in 2010 the wife lost her job of 15 years, and for the next (3) years she only worked part-time, or collected unemployment, or had no income.

So, at 56 (she is younger) we have our modest 1959 suburban house paid for, (3) vehicles that are paid for, a couple of parcels of land fronting on a Corp of Engineer's lake that are paid for, and a reasonable amount of retirement savings. We also both have defined benefit pensions although mine isn't all that good. She is working full-time again, and by some miracle landed a job where she could pick-up the same pension she had before.

So, barring some health emergency, we are looking fairly good for our retirement years. But then we also live/ have lived without a lot of things others take for granted, such as cable TV (have never had it; I built a 25 foot tall tower in the backyard for the antenna), high-speed internet (still on dial-up), "smart phones" (we both have prepaid cell phones), $30,000 + pick-up trucks, Starbucks coffee, ATV's, boats & other toys, multiple bathrooms (we have shared one bathroom for 25+ years of marriage), expensive vacations or frequent vacations, and anything with an "I" as part of the name.

We have (1) television set. Just one.

If I was good at investing, we would be loaded, but I have always been too conservative to take much risk. And I am not likely to take much risk this close to the "end game" but then I don't think I have to now.

 

[jix]

Capricious, you don't sound capricious to me at all!:2cents:

 

[bigtiller]

I'm in the same boat as the OP. It was all just blind luck and the willingness to show up on time and earn my paycheck. And I made a few decisions that turned out to work in my favor. When I started working for my last employer at the age of 19, all I wanted was a paycheck. I have no idea why they hired me because my draft number was 68. The next thing I know I'm 29 and they told me I was "vested".

Yep, nothing but dumb luck. The war, economy, market, and women could have all been much different and who knows where we would be now.

 

[Capricious]

On the subject of "luck" or "fate" or the "grace of God" or what-ever you want to call it, here is an opinion on the subject from someone who might be expected to not think much about "luck," a former commercial aircraft pilot:

The little black bag

 

[JDgreen227]

On the subject of "luck" or "fate" or the "grace of God" or what-ever you want to call it, here is an opinion on the subject from someone who might be expected to not think much about "luck," a former commercial aircraft pilot:

The little black bag

I read both of Gann's books decades ago, as well as one of my favorite works of his: "Twilight ForThe Gods"....the question I have about "luck" is:

"How much of our fate is determined by our luck, and how much by destiny and chance?"

 

[mikehaugen]

as I said he works hard LUCK is a 4 letter word ....spelled WORK ....

Unfortunately, not everyone that works hard gets a break and not everyone that gets a break has worked for it.

 

[Capricious]

Unfortunately, not everyone that works hard gets a break and not everyone that gets a break has worked for it.

I agree with the above, but I also think that one needs to learn to deal with their particular situation in life.

My father was much better at making money that I ever have been, and had a lake house and large boats. I had to come to grips with the fact that I was just never going to be able to live that lifestyle.

In other words, one must learn to live within one's means. I see so many who have not figured that out yet, and that is what gets them into
financial trouble.

 

[KubotainNH]

Sadly, so many things tell people to live for today. You need this phone, car or trip at all costs. The future doesn't matter. Do what feels good. I grew up with having very little. I decided a long time ago I wanted more so got schooled in things that would pay decent. The early years when the kids were young were quite hard with little money. When the pay maxed I moved on and got schooled some more in a different area. Always looking for a job with good bennies including matching 401k. I'm at a good place now, probably will not retire too early but 62 may be doable. I'm 47 now. Smart decisions is what helps and I suppose there is luck, karma or blessings...whichever you prefer to call it. Decisions that help are like refinancing a house to get a lower rate, I saw many people do it but take extra cash out and stay at 30 years. I took no extra cash and dropped years off mine instead. As for the kids, my wife and I always taught them to not waste money and to save for a rainy day. When they were in their late teens we had them go through Dave Ramsey info. Not everything in there may fit the bill but the premise is good. The oldest is almost 22 and just landed his first job that has really good bennies. He didn't rack up crazy college bills and I don't pay for them. I do help when possible with books and such but will not jeopardize my retirement. I also think they work harder at college when they are flipping the bill. My other 2 kids seem to have the right mindset to follow in his footsteps somewhat. In other families I hear about kids with 6 digit college bills, crazyness.