View Full Version : financial security

10-13-2012, 01:09 AM
How many here really feel more or less permanently financially secure?

I'm not talking about being wealthy, but have a reasonable expectation of not spending their old age in a rooming house?

Sometimes I get the impression that many people here in the bilge live with a mild but chronic anxiety about this.

The poll is private

10-13-2012, 01:37 AM
I have currently about $170,000 in a well run superanuation fund, enough for a small pension to supplement the age pension as long as this the age pension still exists when I'm 67
I will be able to buy some sort of home outright, smaller than where I live now but still good.
I will have to look after my kids for a few more years and support them
My Job is reasonably secure barring funding slashes or full automating of public libraries.

In short, I see myself as being able to live, well housed, clothed and fed but with not much for "extras" and no debt.

on an anxiety scale of 1-10 I'm about 4 :D

Not too bad :D

10-13-2012, 01:42 AM
If I steer the course for the next twenty years and no politicians renege on the promises that have been made I'll be all set......

I'm so screwed.

Duncan Gibbs
10-13-2012, 04:08 AM
I'm not rich by any measure for the OECD, but I have running water, electricity, plenty of food, chooks running around laying eggs, land on which to grow lots more food. I don't have much at all saved and live from invoice to invoice at the moment. But I have absolute confidence that I'll be fine as long as I can work hard.

I pity most the human race who don't even have it a tenth as good as I.

In short I'm unbelievably lucky! :)

10-13-2012, 06:32 AM
If I'm not OK, it will be because I've chosen it. We'd be fine, for instance, if we simply sold the house and bought something more reasonable .. but we'd rather give the house to our daughter instead, when she starts to raise a family. Lord knows it's unlikely that most any young person could be able to afford a house like this, in this part of town, any other way. Part of the attraction of the retirement I'd described in that other thread is that it can be done very much on the cheap .. which will mean we probably can give the house away.

Chris Coose
10-13-2012, 07:12 AM
No thing is permanent. I place all my assets in impermanence.

I grew up in a rooming house why wouldn't I consider dwelling in one later on?

Rich Jones
10-13-2012, 07:27 AM
With a good pension, Social Security, Medicare and living in a low-cost-of-living area of the country, we'll do fine.
We've got a good solid house, no mortgage, and plenty of small wooden boats to keep up us happy.

As for long range, my children have told us to take VERY good care of them now or they'd put us in a rat-infested nursing home 30 years from now.:d

10-13-2012, 08:07 AM
No problems that a half-million in unmarked small bills couldn't cure.

10-13-2012, 08:10 AM
Ahh...and if Medicare and Social Security are included in your retirement plans, you might not want to vote for Romney/Ryan.

Rich Jones
10-13-2012, 08:34 AM
Ahh...and if Medicare and Social Security are included in your retirement plans, you might not want to vote for Romney/Ryan.

That's for sure!!

Todd D
10-13-2012, 08:38 AM
Wow TomF. Do you live on Waterloo Row or something like that. I always thought it would have been nice to live there, but ended up 7 km out Hanwell.

10-13-2012, 08:42 AM
Not Waterloo Row, but George Street ... about half a block away from the Farmer's Market. Not quite so ritzy as Waterloo, but then we're on high enough ground that we've never been flooded in May either. :D

We had an incredible bit of luck finding this house at a price we could afford when we moved here 9 years ago, and its value is now more than double what we paid for it.

10-13-2012, 10:15 AM
Cash poor, don't expect that to change. I've learned thru a lifetime of counting pennies, dimes, quarters and bills, to live frugally. I would prefer to not have to live after I can choose how I live. There will be no one to look after me then.

10-13-2012, 10:31 AM
The old observation by Thoreau that "most men lead lives of quiet desperation" is never so true as today.

Money can't buy you happiness they say, but sure buys you choices. I am adept at living frugally without remorse, and barring a major setback I have enough to make it through the next 20+ years or so with some slack for treats ( like paying for tools and materials to build my boat , and periodic travel ).

There is a refrigerator magnet that says, " all I want is the chance to prove that money can make me happy". LOL.

I feel sorry for those who live on the edge from paycheck to paycheck, whether they are truck drivers or hedge fund managers.

10-13-2012, 03:24 PM
OK at present, but investment is a rocky road in this climate. You have to pick your treats.

10-13-2012, 05:21 PM
I suppose anyone who is still working and has dependents can never really feel financially secure.

Even without debts and no mortgage, I'd be in deep trouble if I lost my job.
One also has to leave something for the kids.
As TomF said, Their world is going to be a hell of a lot harder than ours finance wise.

10-13-2012, 05:26 PM
Where's the "Gonna have to work ten years past my death" option on the poll?


10-14-2012, 02:56 AM

Bull$hit. Your kids do the usual "self entitlement" gig of their generation. Cut them loose at 18 or at worst 21 and get over it. They are adults (I hope) and may ask (not demand) your support.
I suppose anyone who is still working and has dependents can never really feel financially secure.

Even without debts and no mortgage, I'd be in deep trouble if I lost my job.
One also has to leave something for the kids.
As TomF said, Their world is going to be a hell of a lot harder than ours finance wise.

10-15-2012, 02:47 AM
My kids are a product of my over protectiveness.
PS they demand nothing

10-15-2012, 04:50 AM
My eldest doesn't speak to me.... her loss.... I don't see the grandmonsters.... my loss... even Steven I guess but don't expect any more handouts.
Second daughter I see rarely, she and her hubby are happy and very self contained. Never asked so never got. Even Steven...
My sons have had VERY good educations, have useful uni degrees. They can look after themselves too. Even Steven again I reckon.
If I leave them zilch then that doesn't matter as they are all well equipped to progress through life, better than I was probably.
If I choose to spend all of my "wealth" on myself and leave just enough to dispose of my carcase then so be it as it seems like a no loss all around to me.

10-15-2012, 05:05 AM
I'm 38, my wife and I are just getting to the point where we don't have to pinch pennies. We still pinch pennies. If the recent downturn taught me anything it was that uncertainty is a certainty.

If there was one thing that would ease my mind it would be that an injury or illness wasn't capable of wiping out our savings. I can deal with losing my job because I can work at almost any job that will get us by, I'm not afraid or to good to clean toilets if the need be.

We need national healthcare.

Bram V
10-15-2012, 05:16 AM
Retirement is a long way ahead, some 40 years I guess (guessing pension will be around 71-75 when I get around to it) I barely manage to pay for my expenses, so I can't save. I rent, so I won't have a house I'm paying off, I have no savings left after a few rough patches so I can't buy a house. I have some worries.

10-15-2012, 06:22 AM
ive already voted but my response was that i will be fine. i intend to have my own place paid for, my own means of transport (horse and cart...im sure rob in portland, vic. is going to be happy to read that!!!!) on my own land, supplying me with sustenance. its big enough to grow fruit and vegetables and farm a small number of chooks for eggs. there is enough land about for agistment of a goat for milk products etc.
a lot i think depends on your mindset. i do believe a simpler life focused on providing for yourself is far more satisfying than heading off to the 'super' markets to procure food etc. i like markets and the exchange system.
all quite fanciful stuff im sure some of you will say, but in essence, its a matter of focus.
dont worry, i will still shave my armpits and legs!!!!

10-15-2012, 06:41 AM
We chose to live debt free 20 years ago, and it has worked well, I guess.
I cant imagine having kept our house we built, with the taxes here.
I looked them up, and they are now 10K a year. Our living costs on the boat are around 5K a year. That leaves enough to live comfortable.
I cant afford health insurance yet, (They now want $700.00 a month)but hope when the Obama health care opens, the rates will be reasonable.
I agree with McMike. We need national health care.
I find it sad that those with company provided benefits are so smug.
If they are layed off or their company closes, not realizing the COBRA would use their resources up fast-then any major illness puts them in bankruptcy. Another problem is, the law wont require part time employees to get benefits. So, working anything under 40 hours keeps them un covered. It encourages part time employment.
That's how it is in NY anyways. Some states will let you keep your home, I've heard.

Tom Wilkinson
10-15-2012, 06:42 AM
At 45, I have one house paid for, a good rate on the other so what I pay for it is far less than what it would rent for, enough tools and equipment to build most anything I want. I have a good retirement saving put away and I add 17% of my earnings to it every year, plus 7% that the company matches. I have a pension coming as well but it is greatly reduced from what it would have been after a company bankruptcy. I save 6k a year towards health care and live pretty frugally. I don't care much for consumerism and have built nearly every piece of furniture and cabinetry in my homes. I repair anything I can around the home and buy used whenever I can. I save a good bit for the kids education but they are going to have to either get some scholarships or financial aid most likely. I don't expect my ex will contribute to much of that at all.

I feel pretty good about where I am headed. Is it guaranteed? Surely not. But I also think I can survive on a whole lot less than what I currently have and be quite happy. At the very least I have a home paid for that will easily house me, and some extended family if necessary. Social security would be a nice bonus, but i don't honestly expect to see it.

10-15-2012, 07:24 PM
I've done OK, house and we 2 are debt free, combined tax free CPI adjusted pensions are above the national (gross )average wage and we work when we feel like it. I may wind up the business next year and get a part OAP but not if the big contracts are there. Definitely by age 67 though.