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Author: jeff168 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19224  
Subject: inability to retire Date: 4/4/2000 6:51 PM
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I am 19 years away from retirement with very little money and no assets. I can hardly wait to push my shopping cart when I am 66. Who cares> The rich always win.
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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3396 of 19224
Subject: Re: inability to retire Date: 4/4/2000 7:09 PM
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jeff168 writes,

I am 19 years away from retirement with very little money and no assets. I can hardly wait to push my shopping cart when I am 66. Who cares> The rich always win.

I agree. Nobody cares and the rich always win. But that shouldn't prevent you from becoming rich yourself.

Nineteen years is actually a very long time. If you can earn 10% per annum on your investments, a dollar saved today will be worth $6 when you're age 66. If you are lucky enough to earn a 15% return annually, each dollar will be worth over $14 at age 66.

But you protest, "I have no money to invest." That may be very true, but could you take a second job? How about a garage sale? Could you cut expenses to free up some funds for investment? Unless you're currently sleeping in your automobile, you may be able to make some cuts without severely impacting your lifestyle.

So buck up. You've already made the first step by finding your way to the Motley Fool. That puts you at least two steps ahead of the average American. There is no reason you can't be as successful as everybody else.

intercst

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Author: BigLon One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3398 of 19224
Subject: Re: inability to retire Date: 4/4/2000 7:57 PM
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jeff168 writes,

I am 19 years away from retirement with very little money and no assets. I can hardly wait to push my shopping cart when I am 66. Who cares> The rich always win.
------------------------------------------------------
You need a change in attitude Jeff. Many people have funded the bulk of their retirement in the 20 years preceeding their retirement. Stop worrying about the rich and take a look at your life style and see what practical adjustments can be made.

BigLon

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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3401 of 19224
Subject: Re: inability to retire Date: 4/4/2000 8:11 PM
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I am 19 years away from retirement with very little money and no assets. I can hardly wait to push my shopping
cart when I am 66. Who cares> The rich always win.


You start out in life needing money. You get married and need more money. You have kids and need more money. The kids go to college and you need more money.

At some point those needs end and you now need money to retire. Your lucky to have 19 years to solve the problem.

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Author: tgrmn Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3402 of 19224
Subject: Re: inability to retire Date: 4/4/2000 8:49 PM
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I used to use Quicken to see my money go and where. You can save all your receipts every day and list your expenditures to get a picture of your wants and needs spending. Be honest with yourself and ask if the purchase is a want or need. We're all pitching for your sucess.

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Author: LaChatte Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3408 of 19224
Subject: Re: inability to retire Date: 4/4/2000 11:47 PM
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Hi,
I suggest you check out the "Living Below Your Means" board here on the Motley Fool. You will find many excellent suggestions on ways to save money.

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Author: Leppert Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3410 of 19224
Subject: Re: inability to retire Date: 4/5/2000 1:11 AM
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I am 19 years away from retirement with very little money and no assets. I can hardly wait to push my shopping cart when I am 66. Who cares> The rich always win.

jeff168,

With that attitude you will always be a loser. Buck up and look at the positive. You have 19 years to change your life around. Many don't even have that...only you can make that difference. Take responsibility for your life and change it for the better. Hard work, saving, investing, and doing good for others, all the while thanking our God for what we have(not obsessing on what we have not!)

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Author: PVFOOL Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3413 of 19224
Subject: Re: inability to retire Date: 4/5/2000 2:34 AM
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Author: jeff168 Date: 4/4/00 6:51 PM Number: 3395
I am 19 years away from retirement with very little money and no assets. I can hardly wait to push my shopping cart when I am 66. Who cares> The rich always win.

Quit whining. You live in the most affluent country in the most affluent era ever in the world. If you can't manage to save 10% of your income a year for the next 19 years, then shame on you. (If you can and do, invest in an index fund, and you WILL be rich.) Are you handicapped? Disadvantaged? What's your problem?

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Author: psas Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3421 of 19224
Subject: Re: inability to retire Date: 4/5/2000 12:34 PM
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If you know that "the rich always win", why don't you make use of that information - become rich & join them! You're obviously computer literate, and you know how to size up a situation (make investment decisions).

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Author: capdev Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3429 of 19224
Subject: Re: inability to retire Date: 4/5/2000 9:16 PM
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I have a neighbor like this, he constantly whines that the poor man can never get ahead. I've tried to show him how he can invest a small amount and become very well off whitin a few years, but he would rather complain, so I have just given up on people who refuse to help themselves. Capdev

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Author: tgrmn Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3431 of 19224
Subject: Re: inability to retire Date: 4/6/2000 7:19 AM
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Psychologists say we communicate on three different levels. The 'parent', 'adult', and 'child' levels. They also say that when communicating from different levels there is a breakdown in communications. When I saw this post I asked myself what,if anything , do I know that will help this fool? A swift kick in the pants to bring someone in some state of dispair to reality or words to help him correct his steps on the dance floor; I don't know him well enought to kick him, I decided.

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Author: PVFOOL Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3435 of 19224
Subject: Re: inability to retire Date: 4/6/2000 3:40 PM
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Author: jeff168 I am 19 years away from retirement with very little money and no assets. I can hardly wait to push my shopping cart when I am 66. Who cares> The rich always win.

My earlier reply was maybe too harsh. Why not try some reading or tapes on the subject of retirement. The fact that you are here means you haven't completely given up.

I like several tapes which I have found helpful. Try Brian Tracy "Getting Rich in America" or "The Psychology of Success" (Tapes -may be available somewhere in book form.) Or Zig Ziglar has similar material. There's a book called The Millionaire Next Door --- Tells how very ordinary people have become rich by saving and investing. There are new millionaires made every 5 minutes in America. 90% of the millionaires today weren't born rich. They made it themselves. A little study can change your life. I know it has mine.

Regards
PVFOOL

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Author: hotfoot Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3436 of 19224
Subject: Re: inability to retire Date: 4/6/2000 6:04 PM
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Author: jeff168 I am 19 years away from retirement with very little money and no assets. I can hardly wait to push my shopping cart when I am 66. Who cares> The rich always win.

There are a lot of people who have saved and retired on what you probably spill.
H.



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Author: r2d2t2 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3437 of 19224
Subject: Re: inability to retire Date: 4/6/2000 9:05 PM
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PVFool atta boy, takes a real man(or woman) to admit they erred. sounds much better

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Author: mepiper One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3439 of 19224
Subject: Re: inability to retire Date: 4/7/2000 12:07 AM
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OK Jeff-- you can sit there and whine.or you can embark on a whole new way of thinking. I suggest the second chose. The Fools on this board are probably like me, started with nothing. But everyone can end up with a very comfortable retirement if they decide to do the work necessary, and only you can do that. If your company offers a 401 plan sigh up NOW> Invest in a IRA . You have no money left over after paying your bills? Take a look at what you could live without, Eating out, rent movies instead of going out to movies, drink beer?, cut back, take a look at all the ways you spend, write it down for 3 months and see where you can cut back. Have a set amount taken out of your pay, I garentee after 3 months you won't miss it. Its up to you, it worked for me and probably everyone on this board and it CAN work for you but its up to you to make it work. Good Luck, mepiper

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Author: Leppert Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3440 of 19224
Subject: Re: inability to retire Date: 4/7/2000 1:49 PM
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mepiper, you are absolutely correct. After almost two yrs of marriage my husband and I got back from a vacation and realized both our ck accts were flat! We wrote down every penny we spent for a year and made some major changes. It is a very sobering experience, as you find out how much you really fritter away on stuff that doesn't even matter to you. When I worked as an insurance agent, I used this same approach with prospective clients and had them keep a log from the apt. setting phone call till the time we were scheduled to meet-usually a two to three week peroid. I saw many clients through grinding debt into their own homes etc. My husband and I are facilitators for a marriage preparation program at our church and I have put my experiences and training(CLU & one course from ChFc)into a single page 'Steps to Financial Freedom'.

Although we had to go to one income after my disabling fall over 11yrs. ago, we have survived. Yes, our net worth did take a big nose dive and we will have to postpone retirement for about four years later than originally planned, but we are financially secure and we WILL be able to retire. Our check-book shock from almost 25 yrs ago gave us the imputus we needed to take control of our financial lives. Life is a matter of choices. One must learn to choose wisely and make choices depending on one's values. What's important to you.

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Author: Grumpybiker Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3441 of 19224
Subject: Re: inability to retire Date: 4/7/2000 2:25 PM
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I guess this whole thread falls under the School of Hard Knocks as there are many lessons to be learnt suddenly, without much preparation.
Some years back, I was already "retired" and eking by on my VA Disability (which barely covered the rent) and my wife's income. Then she needed an operation which kept her out of work for many months and left me to decide whether I should feed the kids or pay the rent!
Well, the kids were happy but the landlord was not! We went through a bankruptcy, were evicted from our rented house and wound up having to move to a small apartment.
It took three and a half years in an intolerable, penitentary-like environment, but we were able to re-group and could buy a small house in the country in November of last year!
The whole sordid story is available in The Keidel Update - our family newsletter on my website.

Regards,

Grumpy
http://www.geocities.com/highwaypoet

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Author: kathleenk Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3450 of 19224
Subject: Re: inability to retire Date: 4/8/2000 10:25 AM
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I woke up at the age of 50 and realized I had made no plans for retirement. Now, by dint of socking away nearly 50 percent of my salary to my pension plan (buying credit for seven years worked, but not in the plan) and my Roth IRA, I have turned the situation completely around in just 7 years.

Part of the trick is taking a fresh look at what your "assets" actually are. In my case it was time served, not stocks or bonds or property. Maybe you have some other "assets" that you have not yet exploited.

Good luck (and forget about the rich).

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Author: 26PJM99 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3485 of 19224
Subject: Re: inability to retire Date: 4/11/2000 12:54 AM
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One of the fools not too long ago told of placing a penny on the first square of a checker board...the next day doubling that; then the next day doubling that; His young son wasn't very impressed the first few days but his eyes began to get very big when this continued and the money just grew and grew...Oh the magic of compounding or magically exponentially growing...Let's be happy with what we can manage and listen to these fools. Ann C. and Selma and their fellow writers on this kind of triumph of the money growth can be so helpful. Of course,as in any of the 12 steps, first the one needing help has to acknowledge it.

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Author: cobra10 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3492 of 19224
Subject: Re: inability to retire Date: 4/11/2000 5:46 PM
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I wish I still had 19 years to go to retirement

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Author: Grumpybiker Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3493 of 19224
Subject: Re: inability to retire Date: 4/11/2000 7:19 PM
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Well, as I posted some time ago, not everyone has the luxury of deciding whether or not they have the wherewithal to retire.
I was "retired" at age 42, when the US Army determined my injuries precluded me from further service!
Things can get a little sticky when one is thrust out there suddenly, with a wife and two kids and only a VA disability award.

Regards,

Grumpy
SSG, US Army ("Retired")
http://www.geocities.com/Heartland/Village/7958/picture/cdr1.jpg

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