Do you live within your means?

[mlmpetert]

Originally Posted by mredskins

Another story, sorry, I hate cheap people.

This guy at work brags how his house paid off and all this crap. Guess how he did it by being cheap!

We had a little Thanksgiving office party yesterday he said he bring in napkins, everyone else was making something. Ok just bringing napkins is cheap but when they are napkins from various fast food restaruants that is really cheap!

Did I mention I hate cheap people!

On the same hand I hate people that over spend and are drowning in debit and expect everyone to save them.

Thats awsome.

[Trample the Elderly]

I don't plan on retiring. My lot in life is to work and be happy. I live below my means. There aren't too many things in my life that I could cut out. Yes some things could go, but I'd be uncomfortable, IE: petrol, electricity, refrigeration. Anything else that I may need, like a trip to the doctor, I pay for in cash or barter. All I really need to be comfortable is a library card and running water. I'd miss you guys but I could do without the internet and my cell phone, but I don't pay for those now anyway.

[firstdown]

For you guys sticking money into your 401 which is a good idea but make sure you are deverisfied and not buying a bunch of company stock. Alot of people have been burned doing this when the co goes belly up.

[dmek25]

i never looked/ thought at retirement( im 48) but this past weekend my wife and i crunched some of the numbers. if things stay exactly the same, we will be doing alright. i plan on retiring at age 62. hopefully without working again

[budw38]

Just my two cents ... if you do not have an IRA , open one , and consider having it in a brokerage account , which will allow you to invest/trade individual stocks Roth IRA Explained .... What will my Roth IRA be worth at retirement? - Financial Calculators from Dinkytown.net ... MCD Dividend and Split Information - About McDonald's , a $2,250 invested in McDonalds in 1965 , worth 4 million today

[budw38]

Make Ex-Dividends Work For You . This will help you boost your returns a little , remember IRA's are tax exempt < well , at the moment > , so you will get a better return over your life time .

[724Skinsfan]

We lived beyond our means and are literally paying for it now. Paycheck to paycheck for probably the next 2, maybe even 3, years.

[hooskins]

Depends how you define means? Do I spend too much and save nothing? No. But do I buy stupid things like video games and booze? Yes.

[mlmpetert]

Originally Posted by hooskins

Depends how you define means? Do I spend too much and save nothing? No. But do I buy stupid things like video games and booze? Yes.

You should be able to buy all the booze and vids you want as long as you can afford it. So if buying these things are keeping you from saving for retirement (assuming you want to retire), keeping you from buying healthcare (assuming you will need it at some point), or forcing you to rack up debt then you are above your means. Otherwise youre good.

[mredskins]

Originally Posted by mlmpetert

You should be able to buy all the booze and vids you want as long as you can afford it. So if buying these things are keeping you from saving for retirement (assuming you want to retire), keeping you from buying healthcare (assuming you will need it at some point), or forcing you to rack up debt then you are above your means. Otherwise youre good.

Nice post.

Here is another way of looking at it are some folks "spending" too much now on savings and retirment that you are not enjoying your current life, if so I say you are just as guilty as the person that is overspending.

You only live your life in today. That doesn't mean go crazy like there is no tommorow but damn if you have some extra cash enjoy yourself.

[firstdown]

Originally Posted by mredskins

Nice post.

Here is another way of looking at it are some folks "spending" too much now on savings and retirment that you are not enjoying your current life, if so I say you are just as guilty as the person that is overspending.

You only live your life in today. That doesn't mean go crazy like there is no tommorow but damn if you have some extra cash enjoy yourself.

I don't go crazy trying to save to retire but I do my share. I agree with some of what you said but if you don't save now its to late when you get older. If times get tough you also have money set aside to get by. If you over spend you have neither. I have alot of older customers who failed to save and are just getting by living off SS and what ever else they have.

[mredskins]

Originally Posted by firstdown

I don't go crazy trying to save to retire but I do my share. I agree with some of what you said but if you don't save now its to late when you get older. If times get tough you also have money set aside to get by. If you over spend you have neither. I have alot of older customers who failed to save and are just getting by living off SS and what ever else they have.

It is a balancing act, to much on either side is unhealth. Plus define "in your means" that is going to mean something diffrent for everyone.

[MTK]

Originally Posted by hooskins

Depends how you define means? Do I spend too much and save nothing? No. But do I buy stupid things like video games and booze? Yes.

That's pretty much all I spend my $$ on lol

[dmek25]

right now im putting 16% into my 401. the company matches 6%. i have also been working 60 hours a week. seems like ive been doing that for years

[TheMalcolmConnection]

I live directly within my means. I have a backup fund, but everytime we get extra money we'll find a way to spend it. We never worry about money, but we surely don't put a lot away.