tag:blogger.com,1999:blog-14245531.post8854479087285422132..comments2023-11-18T01:21:55.631-05:00Comments on My Open Wallet: Spring UpdateMadame Xhttp://www.blogger.com/profile/11536189690094235926noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-14245531.post-16692809781192856492013-07-18T12:10:31.495-04:002013-07-18T12:10:31.495-04:00To be honest this message is written over the inte...To be honest this message is written over the internet . I live in Cape town . In no way is it meant to be <br />derogirtory or negative . <br /><br /><br />I dont know how open minded you are ..... but to be honest your life seems just about money ......... how much you save ... how you can retire. Why dont you try something for the next 30 days ---> focus on somebody but yourself ..... the life of the generous gets larger and larger .<br />you must come to africa and see how people retire ... your problems are so first world ... if you are really open minded go see hillsong New yourk city ... thst will change your mindset . <br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-47549681018670013172013-06-10T20:49:46.394-04:002013-06-10T20:49:46.394-04:00I would be really curious to hear what you think a...I would be really curious to hear what you think about the popular "early retirement" bloggers like Mr. Money Mustache, who reduce expenses and save aggressively enough to retire in their 30s. http://www.mrmoneymustache.com/<br />Have you ever considered relocating and adopting a 'richly frugal' lifestyle?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-7644418828447265982013-05-07T14:00:39.334-04:002013-05-07T14:00:39.334-04:00And I should have added, Sweetie's company pro...And I should have added, Sweetie's company provides both a traditional pension AND a 401k-- best of both worlds!Madame Xhttps://www.blogger.com/profile/11536189690094235926noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-84469479044367490772013-05-07T13:59:26.115-04:002013-05-07T13:59:26.115-04:00Andrew-- I have thought about a reverse mortgage f...Andrew-- I have thought about a reverse mortgage for my mom, but I share Stephanie's concerns about scams!<br /><br />Al-- just to be totally clear, since sometimes people use the terms pension and 410k interchangeably: When I say "pension," I mean a defined benefit pension plan, where the employer pays the employee a certain amount per month after their retirement. The idea is that the employer is investing money in a pension on the employee's behalf, and getting that money is just part of the compensation package depending on how long you stay at the company, how much money you made etc. But the employee doesn't have to contribute to it.<br /><br />A 401k is a defined-contribution plan. The employee puts money in, and the employer also puts money in. The value of the fund can go up or down over time depending on how it's invested. When you retire, you can withdraw money monthly, or in lump sums.<br /><br />My employer does not offer a "pension" but I do participate in a 401k to which they contribute a matching amount up to a percentage of my salary.Madame Xhttps://www.blogger.com/profile/11536189690094235926noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-210230397401534262013-05-07T00:07:20.977-04:002013-05-07T00:07:20.977-04:00MOW...
Are you saying you do not have a pension p...MOW...<br /><br />Are you saying you do not have a pension plan from your company?<br /><br />Thanks<br /><br />AlAlnoreply@blogger.comtag:blogger.com,1999:blog-14245531.post-90261102504424098872013-04-30T15:00:07.595-04:002013-04-30T15:00:07.595-04:00I'm hoping to get pregnant in the next year or...I'm hoping to get pregnant in the next year or two, so my husband and I have been working on saving as much as possible, both in and out of retirement. <br /><br />Being poor is one of my fears, so it makes me happy to know that we're building toward our future. I'm not 100% sure whether I will work after a baby (or two), but I've set myself up with a job that can be done on a part-time basis for less pay, which is totally reasonable to me.<br /><br />I really don't want to be in your mom's situation when I'm old, so I've been socking away money since I was in my 20s. Right now we're saving about 15% of our gross income in savings earmarked for retirement (no 401k unfortunately!). My husband thinks it's too much, but I think it's probably just right.<br /><br />Andrew - I think that generally speaking, reverse mortgages are a bad idea. The only people who really think they're a good idea is the people selling them. At least that's what I've always heard about them. And congrats on the baby! Stephaniehttps://www.blogger.com/profile/09182054237708585905noreply@blogger.comtag:blogger.com,1999:blog-14245531.post-84327421718815446022013-04-30T13:58:56.738-04:002013-04-30T13:58:56.738-04:00Sorry to hear about your mom's situation. Wou...Sorry to hear about your mom's situation. Would a reverse mortgage work in her circumstance?<br /><br />As for my financial plans...well my wife is pregnant and we're thinking that she'll take some time off from work. In a way, it wouldn't really make sense for her to work financially with the costs of daycare. So becoming a one-income family and adding the costs of a new baby will be whats new with me. Excited yet a little apprehensive!Andrewhttp://www.livingrichcheaply.comnoreply@blogger.com