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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Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Thu, 05-02-2013 - 12:22pm
"Double our salaries now for each year we are retired." --------- OK, so if we stick with the 70K current HHI example, you would plan to have 140K saved for each retirement year, so for 20 years of retirement, say, you would want to have 2.8 million saved, correct?
iVillage Member
Registered: 10-23-2001
Thu, 05-02-2013 - 12:39pm

springfever2013 wrote:
<p>1. What is one thing you will spend money on? One thing that you won't?</p><p>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?</p><p>3. Weekend plans?</p>

Aside from groceries I won't pay full price for virtually anything else, That's the frugal in me.   

Lol, I like the Suze Orman show, she is a straight shooter without the fancy talk.  I hope to retire as rich as my dad..  How's that for an answer?  :) 

Nothing is planned. 

 


 


iVillage Member
Registered: 12-07-2003
Thu, 05-02-2013 - 12:48pm

chestnuthooligan wrote:
My financial advisor's rule of thumb is that you should have 12-15 times the income you need to live on each year, e.g. 100K a year budget would need 1.2M to 1.5M in savings. We have met our goal, but we will continue saving.

That sounds like much more reasonable advice than some of the crazy amounts some financial advisors recommend that you should save!

iVillage Member
Registered: 05-13-2009
Thu, 05-02-2013 - 12:50pm

Jams says:"I hope to retire as rich as my dad..  How's that for an answer?"

It's not a very realistic one. Doesn't your father have a pension? My father lives quite well on his pension and social security, but he had very little retirement savings when he retired.

My husband and I have very small pensions, but much more in retirement savings than my dad. We hope to live as well has he has in retirement, but without the guaranteed income with col raises, it takes a lot more planning.

iVillage Member
Registered: 10-23-2001
Thu, 05-02-2013 - 12:51pm

I agree with you spring about generic stuff.  Costs for ziploc storage bags annoy me the most, I need them for my kids lunches and buy them if they are on sale (+ coupon, Lol!) but I typically go for the generic kind b/c they're just as good. 

 


 


iVillage Member
Registered: 10-23-2001
Thu, 05-02-2013 - 12:56pm
DS wants me to buy him an online game for 9.99, He said it's rated "E" but it's some kind of war game. I'm on the fence about it but he may earn it b/c he's had a wonderful school year.

 


 


iVillage Member
Registered: 10-23-2001
Thu, 05-02-2013 - 12:58pm
I won't quote for you the gold mine my dad is sitting on but it's nice and it's not just the two pensions he collects!

 


 


Avatar for turtleemom
iVillage Member
Registered: 07-25-2007
Thu, 05-02-2013 - 1:23pm

jamblessedthree wrote:
<p>  Costs for ziploc storage bags annoy me the most, I need them for my kids lunches </p>

What don't you use reusbale containers?

iVillage Member
Registered: 11-22-2000
Thu, 05-02-2013 - 1:23pm

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

That's hard.  I will spend money on a lot of things, mainly because I have to.  I will not spend money on extended warranties or most online pursuits.  

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?

Retirement is a luxury that I probably won't have.  I'm figuring on working until I die.

3. Weekend plans?

Dinner with mom on Saturday, Joel and I were thinking of hitting a museum or two at some point, if the energy holds out for it.


iVillage Member
Registered: 06-27-1998
Thu, 05-02-2013 - 1:31pm

chestnuthooligan wrote:
<p>Jams says:"I hope to retire as rich as my dad..  How's that for an answer?"</p><p>It's not a very realistic one. Doesn't your father have a pension? My father lives quite well on his pension and social security, but he had very little retirement savings when he retired.</p><p>My husband and I have very small pensions, but much more in retirement savings than my dad. We hope to live as well has he has in retirement, but without the guaranteed income with col raises, it takes a lot more planning.</p>

That's what I was thinking, retirement for my age will be very different than retirement is for my parents currently.  Dh has a couple of pensions, actually is already receiving one currently. 

PumpkinAngel

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