# Another sad money story



## readytogo (Apr 6, 2013)

http://money.msn.com/retirement/at-77-former-vp-prepares-burgers
And some opinions.
Dumb debt decisions in 2014.
1.	Don't save for emergencies because you can't afford to
This is an oldie but a goodie. No emergency savings means you are setting yourself up for debt. You can't be the master of your finances if you don't have a savings cushion in place.
2.	Take out a payday loan just until you get paid next week
The payday loan cycle is very hard to break. If you didn't have the money for that unexpected expense this paycheck, why do you think you will have the money next paycheck? Look for alternatives to fund the expense such as selling something you don't need or borrowing from a friend or family member.
3.	Purchase a car with little or no money down
Cars immediately depreciate in value by as much as 25 percent in the first year. Without a large down payment to compensate for depreciation, you'll be upside down in your loan quicker than you can text OMG!.Save and pay cash.
4.	Co-sign a loan for a friend or relative to help them out
Never, ever co-sign a loan unless you can afford to and want to make their payments for them, period! Unless, of course, you never want to speak to them again.
5.	Base your retirement planning on winning the lottery, working until you die or your children taking care of you
Odds of winning the lottery are so against you. People get ill and can't work as long as they might wish. And do you really want to burden your children? Wait a minute, do you want to burden yourself with living with your children?! Treat retirement as a debt you'll have to pay in the future.
6.	Purchase a big-ticket item that you don't need because interest rates are low
Taking advantage of low interest rates is smart. Buying something you don't need because you won't pay as much in interest is not. If you have extra money each month burning a hole in your pocket, put most of it into your retirement and/or emergency fund savings, and spend the rest on paying down those debts from 2013.


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## Country Living (Dec 15, 2009)

I don't have a lot of empathy for the guy. At 77 he's been retired for years and he said he can live on social security and his pension and working the two jobs gives him money to travel and do things with the kids and grandkids.


> Palome, who said his jobs keep him active and learning new things, could survive without working. He receives $1,200 from Social Security and a $600 a month pension from his last corporate job. Still, his $1,400 in monthly wages allows him to bolster his savings and provides for some extras. He goes to the theater, pays for plane tickets to visit his children and grandsons and takes occasional vacations.


This is what I really don't get. The guy has absolutely no savings and he feels obligated to give his kids about $150,000. Shame on the kids for taking the money. Oh, don't give me any grief on this - I think parents should spend every last nickel on living a good and full life instead of doing without so the kiddies can have an inheritance. Doesn't anyone read _The Millionaire Next Door _any more?


> At 64, when an 800 square foot manufactured home he'd seen in Plant City, a Tampa suburb, became available for $21,500, he purchased it with a credit card to amass frequent flier miles. He then sold his New Jersey home for $180,000, kept what he needed to quickly pay off his credit card debt and divided the rest among his children so they'd have down payments for their own homes. "The house was as much theirs as mine and that's their inheritance from me" he said.


I will give the guy credit because he's not whining. However, I'm not sure about the purpose of the article. The man has enough money to live on and he's taken some lower paying jobs so he can have extra spending money for non-essentials. He's doing better than a lot of people his age.


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## OldCootHillbilly (Jul 9, 2010)

5. Base your retirement planning on winning the lottery, working until you die or your children taking care of you
Odds of winning the lottery are so against you. People get ill and can't work as long as they might wish. And do you really want to burden your children? Wait a minute, do you want to burden yourself with living with your children?! 

Yes, Yes I do! Figure it gonna be the only way I ever get back all the money what they owe me!


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## tsrwivey (Dec 31, 2010)

Country Living said:


> Doesn't anyone read _The Millionaire Next Door _any more?


They do at our house,  matter of fact, it's required reading in our homeschool.


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## helicopter5472 (Feb 25, 2013)

Don't worry with Obamacare will keep the kids sucking off you.

My message to the youth of America is simple. If you embrace Obamacare and the Democrats that voted it in, you must also prepare yourself to embrace a debt you will never see paid off for your entire life. 

Also accept the realization that due to this law, Grandma and Grandpa might not be around long. They have a very good chance of being classified as "shovel ready" soon.

Look for prices of everything to go up and the number of available jobs to drop. Be ready to scrap your dreams and accept the reality that things will not get better for a generation even if Obamacare was repealed today.


The damage done to date is has already proven to be a disaster to the US economy and we have in no way seen the worst. 

So smile while you still have teeth...


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## tsrwivey (Dec 31, 2010)

I'm sure they'll vote some democrats in to steal the retirement of the responsible to redistribute to the folks that spend everything they make. It won't be mine, though! I'd see it burn in the front yard first.


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## TheLazyL (Jun 5, 2012)

My children had a choice.

I would use my 401K to pay for their college education. Then when I retire I would live with them.

Or

They would pay (work) their own way thru college. Then when I retire I would use my 401K so I wouldn't be living with them.

They both chose the Or...


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## The_Blob (Dec 24, 2008)

I see the number of jobs increasing substantially, I also see the "number" of businesses increasing as well, because almost all full-time jobs will disappear, replaced by more part-time jobs and 'sub-contractors' (responsible for their own HC)...

oh wait, that's not a good thing??? 

:gaah: :brickwall:


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## BillS (May 30, 2011)

Bad buying decisions, continued:

Buying a new vehicle, period, unless you can pay for it out of one year's earnings in cash.

Leasing a vehicle is insane. You pay money to drive something you give back at the end of the lease. I've noticed in some commercials that some leases have absurdly low annual mileage limits too.


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## TheLazyL (Jun 5, 2012)

Sister-in-law, when she was working full time at a good paying factory job;

Men's Church group re-roof her house at no cost to her. Her adult son stayed in the house playing video games.

Church Youth group cleaned out her gutters and again her adult son stayed in the house playing video games.

She complained about how smooth and slippery her sidewalk was. For a Birthday present I broke up and stack her old sidewalk in a pile. By myself setup the forms, had cement trucked in, leveled and a nice broom finish. She didn't like the broom finished or the fact I didn't remove the concrete pile. I pointed out that her son had a truck, he could load up the concrete and dispose.

Her driveway had a mud hole in the middle of it. She asked me if I could haul in some gravel and give her the bill. I did and give her a $28 bill just for the gravel. She looked at it, stated that she was behind on the house mortgage and would have to pay me later (she did 3 months later).

Her stool been leaking around the drain flange. Floor is now rotted and stool has sunk noticeably. My wife and the 3rd sister volunteered me and the other brother-in-law to do a complete bathroom remodel. We would do the labor and pay for the materials and she'd reimburse (for the materials) later. I said no thank you.

Her place of employment shut down permanently. When unemployment benefits expired she went on on disability (she didn't follow Doctor's instructions by wearing a leg brace until her knee healed after a car accident). Her income dropped considerably. I'm assuming she has multiple mortgage's on her house.

Family get together she arrived in a new used Malibu (2 years old). Nice looking car. I asked her if she was having mechanical problems with her old car. No she just wanted a newer car and she hoped she could pay for it.

Fortunately (or unfortunately from my point of view) our society permits her lack of financial accountability and enables her life style.


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## Country Living (Dec 15, 2009)

She's unable to work and is on disability because of a bad knee? I worked with a guy who had a leg amputated. I guess the difference is he wanted to work.....


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## TheLazyL (Jun 5, 2012)

Country Living said:


> She's unable to work and is on disability because of a bad knee? I worked with a guy who had a leg amputated. I guess the difference is he wanted to work.....


Car accident messed up her knee. Leg brace was "uncomfortable" so she didn't wear it and her leg healed curved.

Now her bad leg is shorter then her good leg. Which in turn now makes her spine and hips out of alignment. Add 50 pounds to the thighs and she has aggravated the situation.

Shop around until she finds a Doctor that will replace her "bad" knee. Don't do the recommend therapy and gain another 50 pounds on the thighs.

She found a job before her disability was approved but when the Feds extended unemployment, the job went "poof".

You co-worker has work ethics. My sister-in-law ... well you see we just don't understand :nuts:


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## dixiemama (Nov 28, 2012)

I got a sis in law (and her husband to boot) like that. 

Sis in law: 200lb overweight; refuses yo exercise; has dietary allergies that she doesn't avoid; has health conditions she doesn't take prescribed meds for; keeps her tiny house and yard junked like a bunch if 5 year olds live there.

Her hubby: has the easiest job: refuses to cook or clean; won't pay bills but instead wastes it on trivial things ( an iPad when they both have laptops); gets behind on all debts bc he won't pay them, then complains he is broke; has a dog (wants more) but complains bc she eats and barks too much (begal-mix HELLO); wont treat his medical condition, is a glutton, and WANTS to get 'on the draw' so he {doesn't have to work like a bitch}. 

Sent from my MB886 using Survival Forum mobile app


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## nathan (Nov 6, 2008)

I work, make a pretty good income in an economically depressed area, and honest and open about my job. I also get handouts from sources for the poor (I volunteer)and the poor give me the things they dont want from their Govt commodities


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