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Old 10-15-2011, 05:09 AM   #21
DHenry
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I planned my financial portfolio to the age of 100, living comfortably. Now I will either have to go back to work at 80 or move in with the kids :-0

Our investments have taken a big hit in this economy but with most everything paid for and living conservatively we will be just fine. I am just worried about the younger generation, it looks like the economy is beating them up pretty good and it will take quite awhile for them to recover and save for their retirement.

Our business was in construction (which our son has now)and that industry has been down for to many years now and with all the foreclosures and short sales going on it looks like construction will not return in our area for quite some time.
 
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Old 10-15-2011, 06:44 AM   #22
Lee F.
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I retired in 1996 and wife in 2000. We both have pensions and both get SS plus we have a 401 which we hope we don't have to draw from for a long time. When we retired we were debt free and still are. If we can't pay for it we don't buy it. We own the stick house and hopefully sometime in the future the market will get better so we can sell it and downsize into a small condo where everything is taken care of while we're on the road. In the meantime we are doing fine and really enjoying retirement.
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Old 10-15-2011, 02:35 PM   #23
mlh
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We are in the firearms industry, we make high end reloading equipment. I have never had one day that I didn't have too much to do. This has been the best year ever for business. The worst year for me. All I wont to do as slow down, just work 40 hour weeks but I can't. When a grown boy wonts a toy he wonts it NOW.
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Old 10-15-2011, 03:35 PM   #24
emdavis
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retired a year ago. wife and i have state retirment and ssi. the only thing we have a payment on is the monty. would like to sell the house but no one is buying in out town. we are doing ok for now and should do fine in the future .
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Old 10-15-2011, 04:36 PM   #25
c214dick
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I guess we are amongst the fortunate few. After really screwing up in our younger years we decided to keep our noses to the grindstone and I was able to retire at 56 am now 65. Louise retired at 60 and is now 63. The best part of my retirement was being able to work as a real estate photographer before that bubble burst.

Our investments were always conservative so when everyone else took a hit we were OK. We feel really sorry for those that continue to try, especially our kids. My nephew lost his job a month ago and his wife is due in February. Our youngest son moved to California on a whim, picked up some part time work and landed a job doing maintenance with a walnut processing company. Our middle son took a chance and changed jobs when things were really shaky but is doing great. Finally our oldest son quit his job when thing were good and bought a hobby shop that specializes in RC cars. Business is good as the RC fans seem to have the $ to spend.

I guess there is a silver lining as long as you aren't afraid to look for it.
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Old 10-15-2011, 05:52 PM   #26
CORattler
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I've been unemployed since April 1st 2011. The contract I was on was awarded to another company who eliminated my position to be competitive on the bid for the new contract. I just received and accepted a job offer for $12,000 a year less than what I was making before. Of course this extends our retirement date and affects our 401k contributions. Had to sell my Harley to help make ends meet.
The good news is we were able to camp on the cheap and enjoy this summer spending more time together in the Monty. As long as DW and I have each other and we are in good health, everything else is small stuff.
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Old 10-16-2011, 02:28 AM   #27
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Quote:
quote:Originally posted by CORattler

I've been unemployed since April 1st 2011. The contract I was on was awarded to another company who eliminated my position to be competitive on the bid for the new contract. I just received and accepted a job offer for $12,000 a year less than what I was making before. Of course this extends our retirement date and affects our 401k contributions. Had to sell my Harley to help make ends meet.
The good news is we were able to camp on the cheap and enjoy this summer spending more time together in the Monty. As long as DW and I have each other and we are in good health, everything else is small stuff.
You are a a wise man with your positive attitude.
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Old 10-16-2011, 05:47 AM   #28
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I think c214dick is wright the grown boy toy industry is in great shape. Men will always buy their toys.
We still have our campers but we are in little bit of a unique group. We are older than the population average, lots of us living on a nice fixed income with no bill to pay and still spending money. I think if it wasn't for people like us this economy would be in a lot worse shape than it is.
My heart goes out to those who are struggling. I hope things return to normal for you soon.
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Old 10-16-2011, 06:33 AM   #29
Ozz
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Young people now days unfortunately, are busy trying to find a good job, then make enough money to get the car, apartment, pay the insurance for the car, eat, buy clothes then budget to have enough money to make it to the next paycheck.
When do they start saving for retirement? By the time most of them do, they are in their 50’s, no longer feeling as if they will live forever and never get ill.
The old days of long term factory or company jobs are scarce now, I remember it was the norm to work for one company until retirement for many. The falling tax revenue takes many city, county and state jobs to the position of cutting back on benefits and retirement gaurentees.
Studies show that 1/3 of young people 25 and under are not contributing to their companies’ retirement plans, for the ones that do, only 4% put in the maximum. Among 26 to 40 year-olds, only 40% are even contributing to tax-advantaged IRA: (Charles Schwab)
I think it just takes too much of the check to make it in life.
More and more young people are moving back home with mom and dad, unable to make it on their own. I know many here on the MOC forum have their kids back home, or, never able to leave.
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Old 10-16-2011, 06:35 AM   #30
c214dick
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At my son's track, they host National races 2-3 times a year. A minimum of 60 racers register about 120-180 cars and come from all over the country. As long as there are enough with disposable income he will be fine.

You're right about grown up toys. Though there are quite a few who live full time in their rigs, there are still quite a few who use them strictly for recreation as in RV.
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Old 10-21-2011, 06:29 AM   #31
Waynem
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We are blessed when it comes to some, and poor when it comes to others. I hold no envy. We are doing well. Both of us retired in 2007 from Government. I had previously retired from the military. I had thought that my second Government retirement would pay for fuel cost, but ya'll know what happened to the price of fuel. However, we are doing fine. We travel when we want to travel and my children have named the SOB the SKI Mobile (SKI = Spending Kids Inheritance) So the economy has not threatened our lifestyle, thank you Lord.
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Old 10-22-2011, 01:57 AM   #32
Tom Gina 06
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I look at the past and see some things that scare the hell out of me now. In my early 20's I lived through the 38% unemployment that was real in Northern MN during the early 80's. Just about every job was connected to the steel industry back then. During these times I was forced to leave the area and family for good. The thing is that was isolated to one small geographical area because that area did not have the diversity that other areas have in the way of jobs available back then. What I see now is on such a larger scale and that is why this scares the hell out of me. The interest and tax rates cannot be held down to accommodate the increase of debt in our country without consequence. When all this comes to a head it is going to be very ugly for all of our people young and old.

I personally feel that my days until retirement are going to slip away with the changes this country is about to embark on. On a positive note, we do have the Monty and have the time to weather the pending economic storm about to hit. It has been gradually heading that way with the real-estate crash just as a starter. Our Children are also in a position that they are fairly safe where they are at now with their careers. As things progress I am not so sure that heading to some small town in the middle of no where, away from all the mass populous areas might be the way to go. Much said for that type of environment where people take care of each other no matter what. Sure Wally World and Best Buy are not around the corner but then what the heck they may not even open their doors by then anyway. Life for all in the USA is on the road to big time change. My advise to everyone is grab onto the biggest knot in your rope and hang on tight, cause it is going to be one hell of a ride! This is a great topic OZZ thanks for bringing it up.....
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Old 10-25-2011, 09:30 AM   #33
jwedell
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I've always lived my life by the motto:
Live life now in case there's no tomorrow
But save a little in case there is.

So far it's worked out great.
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Old 10-25-2011, 11:38 PM   #34
LuckyNichol
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" First they ignore you,then they laugh at you, then they fight you, then you win." Gandhi
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Old 10-26-2011, 05:57 AM   #35
Ozz
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LuckyNichol, how long do I wait for the last part, I ain't getting and younger...
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Old 10-26-2011, 03:32 PM   #36
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Ozz I think you won the game a long time ago.
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Old 10-26-2011, 03:43 PM   #37
Bill-N-Donna
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The way it has affected our lives is more indirectly. We have watched the jobs go with less & less opportunity for our children. Opportunities are not there like they were 35-40 years ago and I see more and more parents helping their children in today’s world. I don’t believe all kids are lazy but everything is different now. I must say that we’re very thankful for what we have and we will continue to help out if needed.

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Old 10-27-2011, 05:17 AM   #38
Ozz
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Bill, I think you have the right idea helping. I am no bleeding- heart type, I think if a person does not try to do anything they can to improve their lives, they shouldn't get too much help, but I always try and give a hand to those who need it.
When I checked in here, I told the guy that does the park maintenance if any of the folks here need repairs on their RV or park model I would do it for nothing. But I told him this was only for the folks that are barely making it.
We are all in this deal together.
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Old 10-28-2011, 04:45 AM   #39
richfaa
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We are in the midst of rapid and extreme change and have been for some time..Example. Technology has taken away more jobs than any other factor and we need to learn to deal with that. We now live in a Global economy and we are not learning how to deal with that. Yes it cost more to produce products here than in most any other country and we need to examine the reason for that and do something instead of talking about it or blaming someone or something else.

IMO the only thing that is different about our political process is that we now have instant media access to everything. It has awways been this way.We just never heard about it. We will be alright.
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Old 10-28-2011, 07:59 AM   #40
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I, like RichFAA, also escaped from the FAA (2009). I was an Air Traffic Controller, who was zapped with a 5-year pay freeze in 2006. That affected my bottom line on my retirement. To add insult to injury, then there's no COLA increases; even though costs continue to rise.

We are stationary FT, house in CA down 300K since 2008, so that's a rental now util the market comes back. We cut ALL excess spending, we reviewed all bills and services and reduced what we really didn't need. I bought a book called "YOUR MONEY-THE MISSING MANUAL"
This book has some good information for all of us to reflect upon. The key word is "ENOUGH" and what is enough for us to have and really need.

We're surviving; on a serious budget, a 5-year plan that will have us back in the original plan; building the house at the end of the plan on some acreage. Then we hope to free the Montana back to a vacation road home and not a residence. We are glad we upgraded to the 3750. It does feel like a small cozy apartment as opposed to a vacation vehicle.
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