Thrifty Thursday

iVillage Member
Registered: 03-27-2013
Thrifty Thursday
149
Thu, 05-02-2013 - 10:03am

1. What is one thing you will spend money on? One thing that you won't?

2. Retirement money-I was watching Suze Orman the other night (don't really care for her lol) and she does a segment of "How well am I doing" and there was a 38 year old woman, married with 3 kids and she gave her a low grade. She had about $100,000 in her retirement fund and she said at her age, that was too low. Is there a goal (no need to put $ amounts down as I know that is a very personal thing) you have by a certain age or goals you had by certain ages and do you think that amount is good or bad for that age?

3. Weekend plans?

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iVillage Member
Registered: 12-07-2003
Thu, 05-02-2013 - 10:15am

1. What is one thing you will spend money on? One thing that you won't?  I spend money on lots of things.  Our CSA share for lots of fresh local organic produce is something I'm pretty committed to spending money on, although it works out to be a pretty good deal.  I won't spend money on boosters for Candy Crush Saga.  ;)

2. Retirement money-I was watching Suze Orman the other night (don't really care for her lol) and she does a segment of "How well am I doing" and there was a 38 year old woman, married with 3 kids and she gave her a low grade. She had about $100,000 in her retirement fund and she said at her age, that was too low. Is there a goal (no need to put $ amounts down as I know that is a very personal thing) you have by a certain age or goals you had by certain ages and do you think that amount is good or bad for that age?

I have a vague notion that I should have about $1,000,000 in my retirement account before I retire.  At the current rate I'm saving, it's not an unrealistic goal, but some of it is dependent on interest rates.

3. Weekend plans?

A wedding on Saturday.  Tenatively walking with a friend on Sunday.

iVillage Member
Registered: 03-27-2013
Thu, 05-02-2013 - 10:34am

1. What is one thing you will spend money on? One thing that you won't?

Good Sheets.

Certain things that I can get generic, aluminum foil pans, solo cups vs. store brand, certain makeup.  

2. Retirement money-I was watching Suze Orman the other night (don't really care for her lol) and she does a segment of "How well am I doing" and there was a 38 year old woman, married with 3 kids and she gave her a low grade. She had about $100,000 in her retirement fund and she said at her age, that was too low. Is there a goal (no need to put $ amounts down as I know that is a very personal thing) you have by a certain age or goals you had by certain ages and do you think that amount is good or bad for that age?

I think it all goes by individual goals but with a recession not so many years ago, I think this woman was doing ok. I have a number in my head too and my dh laughs as it is A LOT more than we make yearly which we probably don't need to worry about saving that much. 

3. Weekend plans?

Ds as religion plans and then bowling and dinner with class, Dd has breakfast plans with a friend, Car Show (dunking of teachers and principals too so that should be fun, Craft Show (friend is selling their merchandise there so will probably just stop by), food shopping, weeding, regular things in the house to do and whatever else comes up.

iVillage Member
Registered: 03-27-2013
Thu, 05-02-2013 - 10:34am

Right there with you, I will not spend money on any type of online game. 

iVillage Member
Registered: 12-07-2003
Thu, 05-02-2013 - 10:41am

springfever2013 wrote:
I think it all goes by individual goals but with a recession not so many years ago, I think this woman was doing ok. I have a number in my head too and my dh laughs as it is A LOT more than we make yearly which we probably don't need to worry about saving that much.

Huh?  Wouldn't you want to save much, much more than your total annual income?  I mean, costs can be lower in retirement, but you have to save enough to support yourselves for years and years.  Maybe I'm misunderstanding?

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 05-02-2013 - 10:44am

1. What is one thing you will spend money on? One thing that you won't? -- iTunes. I realized the other day that we don't have much Doors stuff and need to add that to our library.    I won't spend money on in-app purchases - like in games, 99c here or $2 there for an additional life or special tool.

2. Retirement money-I was watching Suze Orman the other night (don't really care for her lol) and she does a segment of "How well am I doing" and there was a 38 year old woman, married with 3 kids and she gave her a low grade. She had about $100,000 in her retirement fund and she said at her age, that was too low. Is there a goal (no need to put $ amounts down as I know that is a very personal thing) you have by a certain age or goals you had by certain ages and do you think that amount is good or bad for that age? -- I've not been that specific with my goals.  I put what I can away  (have a set transfer each month in our Roths).   I'm doing *okay* but not awesome or anything.

3. Weekend plans? -- Not a whole lot really.  Zumba on Sat.  need to do yard work and some garage sale prep. Dh will be gone Fri night and Saturday. Kids and I might rent a movie and get theatre popcorn.  This is the only weekend in forever that we've not had stuff going on and is probably the last one for quite some time.  (Dh is going to his sister's house Fri night for margaritas and enchiladas and then to a coin show with her on Sat.)

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

Avatar for BeaArthurisMyReligion
iVillage Member
Registered: 02-20-2013
Thu, 05-02-2013 - 10:45am

What is one thing you will spend money on? One thing that you won't? I splurge on gettng my short spiky grays cut every 4 weeks, that's my biggest indulgence.  And I'll also spend more on 'experiences' than stuff-  theater tickets is my  biggie... but I could care less bout things like good shoes or purses or jewelry or those type of things..all our furniture comes from IKEA for example, and all my shoes come from payless but I"ll move heaven and earth to get good theater seats LOL. 

2. Retirement money-I was watching Suze Orman the other night (don't really care for her lol) and she does a segment of "How well am I doing" and there was a 38 year old woman, married with 3 kids and she gave her a low grade. She had about $100,000 in her retirement fund and she said at her age, that was too low. Is there a goal (no need to put $ amounts down as I know that is a very personal thing) you have by a certain age or goals you had by certain ages and do you think that amount is good or bad for that age? oh we are never going to retire that's the short answer.. we just won't have enough I know that now , my wife knows it and it is what it is.  There will be no retirement golden years for us and I'm at peace with that -- I think what we both hope for is that eventually I can move to a part time kind of consulting type gig and she can continue tow ork part time in nursing and legal nurse consulting,  my years as a single parent and her years changing careers and suffering some set backs while she was back in school really mean our retirement contributions took a hit.. but we're climbing back there..there's no way we'll have a million.. never ever ever and you know.. it is what it is.. I kind of know that i'm not destined for a long life into my 80s.. so it will be what it is I guess!   I"m not going to lose sleep over it right now anyway.. I ahve to figure out college first LOL

3. Weekend plans?  Oooh lots and lots of theater!   Going to see a friend in a production of "Doubt" on Friday night,  a rehearsal for a cutting from "Calendar Girls" that i'm in on Saturday,  taking the girl  to see her best friend in a cabaret Saturday and then her friend is sleeping over and I'm taking them both to see another friend in INto the Woods on Sunday!

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Thu, 05-02-2013 - 10:45am

<<I won't spend money on boosters for Candy Crush Saga. ;)>>

Bwahahaha.  Read my #1 ...

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

Avatar for turtleemom
iVillage Member
Registered: 07-25-2007
Thu, 05-02-2013 - 10:52am

1. What is one thing you will spend money on? One thing that you won't?

Organics

McDonalds

2. Retirement money-I was watching Suze Orman the other night (don't really care for her lol) and she does a segment of "How well am I doing" and there was a 38 year old woman, married with 3 kids and she gave her a low grade. She had about $100,000 in her retirement fund and she said at her age, that was too low. Is there a goal (no need to put $ amounts down as I know that is a very personal thing) you have by a certain age or goals you had by certain ages and do you think that amount is good or bad for that age?

DH and I are happy with our contribution amounts and our plan choices.  It has 2 more decades to grow.  We feel we are in a good place.

3. Weekend plans?

Saturday we working around the house.  DH has some lattice to attach under the deck to keep out the dogs. DS want to start painting decking for his outdoor mancave.  It's going to go under one of the deck levels.  I have some grocery shopping to do.  Sunday it is Children's Day (Korean Holiday) and we will do something fun.  Later that day is a lecture on The W.A.S.P. (WWII Women's Service Airline Pilots). 

iVillage Member
Registered: 03-27-2013
Thu, 05-02-2013 - 10:54am

Huh?  Wouldn't you want to save much, much more than your total annual income?  I mean, costs can be lower in retirement, but you have to save enough to support yourselves for years and years.  Maybe I'm misunderstanding?

Sorry, I made it more confusing lol. While the most money you can save is best, the amount I had used is about double what we currently make WITH kids and we wouldn't need any where near that amount to live for say 40 years (after retirement) and that would mean we would have to work longer and save money that could be saved for other things. Hope that explains it better. 

iVillage Member
Registered: 06-27-1998
Thu, 05-02-2013 - 11:00am

1. What is one thing you will spend money on? One thing that you won't?

Quality foods, since this feeds my family it is one thing I will spend money on.  I think I have lots of things I won't spend money on but the first that comes to mind is online games.  

2. Retirement money-I was watching Suze Orman the other night (don't really care for her lol) and she does a segment of "How well am I doing" and there was a 38 year old woman, married with 3 kids and she gave her a low grade. She had about $100,000 in her retirement fund and she said at her age, that was too low. Is there a goal (no need to put $ amounts down as I know that is a very personal thing) you have by a certain age or goals you had by certain ages and do you think that amount is good or bad for that age?

We have goals, different for dh and I because of the difference in age.  But in general I contribute 15% to 401K each payroll along with matching funds and contribute the limit to my IRA each year.  My contribution will go up when I turn 50 years of age.  I think that amount is low, but it depends on a lot of different factors.  How much does her dh have?  Did she leave the work force for a period of time?  

3. Weekend plans?

Yes.  Yard work, I need to plant annuals.  There are a variety of sporting events scheduled, happy hour, wedding and a few other things.

PumpkinAngel

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