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Put me into the 90% group that doesn't contribute to IRAs.

IF
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Put me into the 90% group that doesn't contribute to IRAs.

I have two daughters in this category. I asked one of them what she would do in retirement for money. Her answer was that she would be inheriting my money. I do have some health problems, but I am planning to do my best to stick around <G>.

Not only do they not contribute to IRA's, they have very little in 401K's and are both in their 40's.

Scary to me.

~Birgit
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I have two daughters in this category. I asked one of them what she would do in retirement for money. Her answer was that she would be inheriting my money. I do have some health problems, but I am planning to do my best to stick around <G>.

Not only do they not contribute to IRA's, they have very little in 401K's and are both in their 40's.

Scary to me.

~Birgit

Dad promised us that his will would read, "I Pa 666, being of sound mind and body, spent every last cent I had."

Sounds like a good plan to me.

cliff
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I have two daughters in this category.

Maybe same category but different reason - I'm with IF. I usually don't contribute to IRAs because I get no benefit now. We usually don't qualify for Roths and there's no benefit,IMHO, to be contributing to a non-deductible traditional IRA. I prefer to have additional funds in a taxable account.

One other reason is retirement is fully funded as far as I can tell and I'd rather not live better then than we do now.

rad
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I have two daughters in this category. I asked one of them what she would do in retirement for money. Her answer was that she would be inheriting my money. I do have some health problems, but I am planning to do my best to stick around <G>.

Not only do they not contribute to IRA's, they have very little in 401K's and are both in their 40's.


How about showing them a fake will that leaves all your stuff to charity? If you can keep a straight face, it might jolt them into behaving more responsibly.

--fleg
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I asked one of them what she would do in retirement for money. Her answer was that she would be inheriting my money.

If she wasn't joking, you might want to share my story about inherited money.

The saddest day of my life was the day I had to tell my father that he would be out of money in about 8 months. He sobbed, saying "We thought we'd have $400,000 to leave you boys."

Well, they did have that much before they needed 24-hour care. Thanks to their financial resources and my availability for 60-80 hours a week we were able to provide that care in their home. But toward the end both my brother and I loaned him money so he didn't have to cash his last CD early.

Phil
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These statistics are indeed scary.

The average total income for those 65 and older in America is $25,610, and the median was a meager $16,770 ....

Incredible.

My experience of older people was mainly my parents, and they retired to a senior community in California with golf courses and swimming pools.

They weren't rich. (They and I were born in the South Bronx. Both my parents were children of immigrants who left the old country because they had nothing, and no prospects.) My mother never worked, and my father worked in regular corporate America, raising us 5 kids on a single salary.

Incredible.

--SirTas
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How about showing them a fake will that leaves all your stuff to charity? If you can keep a straight face, it might jolt them into behaving more responsibly.

Who knows? I may also use it all up paying medical bills, hopefully later on. I have done all I can, from sending Excel budgets for month and year, all made up for them. I give advice on jobs and how much they should be earning, backed up by websites devoted to this kind of info. I give advice on upkeep of their homes and how important an investment a house is. I give them investment advice. Yada yada.

I am speaking to the wall.

I spend my money for me as I wish, help out the girls when they get into financial binds and GK's. What is left, is left. I just hope the children do not land up on the corner of the street with hat in hand when I am gone.

~Birgit
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The back bumper of our 3500 Dodge and 2980 Montana 5th wheel have a bumper sticker that reads 'This is my kids inheritance'. They both make more money than we ever did and know and approve that when we go there will be no debts to pay or money to go on a vacation.
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If our son thought for one minute that we were depriving ourselves of a comfortable retirement so that he could inherit a pile of money when we die, he'd be having a real sit down with us.

He too makes far more money than we ever did, and in fact, has more money right now than we do. If there is money that is left for him, fine, if not, we're not going to worry about it. This is one time it's all about US!
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I'm going to spend mine.
What's left, I'm going to leave to the ACLU and a charity that cares for (and finds homes for) homeless animals

AM
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Looks like a pretty good plan, AM. I plan to fund open space and scholarships, perhaps with a small foundation.

db
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Looks like a pretty good plan, AM. I plan to fund open space and scholarships, perhaps with a small foundation.

db

-------------------


Sounds like you expect to end up with a lot more $$$ than I do. :)
But *IF* I ended up with bazillions (not likely) I would like to start a charity that would help people who need help locally (wherever I happened to be at the time). I understand fully why Jimmy Carter started Habitat for Humanity --- a home is such an elemental, fundamental, and basic need of everyone. Not to have a home is absolutely devastating. The basics are so important to all human lives. It's hard to find a job without a home. Heck, it's hard to even be clean without a home. Anytime I try to imagine myself without a home I just feel so devastated that I can't even explain the emptiness and horror.

There are so many good things that one could do with their money. A lot better than leaving it to children to squander. Especially children who have already had every advantage in life and who don't even begin to appreciate it.

AM
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I guess I'm just a little different than AM. I much prefer to see what I can give now, to be able to know it's really! really! going to where I want it now, rather than do it after I'm gone. And, my interests have changed lately.

Now, my money is being spent making quilts for the Quilts of Valor program. These quilts, usually costing in excess of $125 ea. & even more if I don't do the quilting myself are donated to seriously injured soldiers returning from the middle east.

Who knows what might have my money a couple of years from now.
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What's left, I'm going to leave to the ACLU

Why not give it directly to the "North American Man-Boy Love Association"?........ Ugh!
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AngelMay says "What's left, I'm going to leave to the ACLU and a charity that cares for (and finds homes for) homeless animals"

Thanks, AM, for bringing up charity should any be money left over when we depart. The "Leave a Legacy" program, which is spreading across the country, encourages people to include something for their favorite charities in their will. It doesn't have to be a grand gift to make a big impact.

Bobcatkitty's recommendation to give now during your lifetime is excellent. Most charities embrace supporters as part of their family, and make every effort to have you see how your gift is being used.

Before retirement I was a college's chief fund raiser. For years I watched the pleasure people got in getting to know "their" student scholarship recipients. Years later I began to see some of those students returning to make a gift to help others. Win-win all around!

And, AM, check out this animal group that is near and dear to my heart:
www.spayneuternow.org

Tilnow
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...Not to have a home is absolutely devastating. The basics are so important to all human lives. It's hard to find a job without a home. Heck, it's hard to even be clean without a home. Anytime I try to imagine myself without a home I just feel so devastated that I can't even explain the emptiness and horror...

While an individual house may be a home, a home need not be within a stand alone building.

That said, I rather have my fixer-upper, under its air plane flight path, than living in an apartment on the 'right side of the tracks'.

TB
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What's left, I'm going to leave to the ACLU

Why not give it directly to the "North American Man-Boy Love Association"?........ Ugh!
--------------------


You may give your money to anyone and anything you please.
I wouldn't presume to tell you what to do with it.
As for me, I'll do the same.


AM
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charity that cares for (and finds homes for) homeless animals

Best to find a good rescue group locally, or your local Humane Society which is not involved with PITA like the Human Society of the Untied States.

I am writing a codicil to for my dogs. Naming a person responsible for their care and placing them in good homes and a bunch of $$ for food/vet care etc.

Birgit
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And, AM, check out this animal group that is near and dear to my heart:
www.spayneuternow.org

Tilnow

------------------


Thanks so much.

AM
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...Not to have a home is absolutely devastating. The basics are so important to all human lives. It's hard to find a job without a home. Heck, it's hard to even be clean without a home. Anytime I try to imagine myself without a home I just feel so devastated that I can't even explain the emptiness and horror...

While an individual house may be a home, a home need not be within a stand alone building.

That said, I rather have my fixer-upper, under its air plane flight path, than living in an apartment on the 'right side of the tracks'.

TB

------------------


I don't see what in the world brought up that response.
No one was suggesting that what you have is not the best for you.
So why mention it as though I had been speaking against you?
I'm afraid I don't really get this response.

AM
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There are so many good things that one could do with their money. A lot better than leaving it to children to squander. Especially children who have already had every advantage in life and who don't even begin to appreciate it.




maybe depends on the children.


-b
....... legacy squanderer (but i do appreciate ..somewhat)
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charity that cares for (and finds homes for) homeless animals
--------
Best to find a good rescue group locally, or your local Humane Society which is not involved with PITA like the Human Society of the Untied States.



local is good.
why "not involved with PITA"?



=b
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why "not involved with PITA"?

I will answer, but it is OT.

I apologize for my incorrect spelling, it should be PETA, or People for the Ethical Treatment of Animals. This is kind of opening a can of worms. PETA is anti-pet for one thing, among lots of others. If their ideas were truly implemented, there would be no meat to eat, no animals for medical research, no zoos to breed nearly extinct animals, no more pets of any kind.

If every dog and cat in the world were neutered, that would be the end of them as they could not procreate. PETA is responsible for a lot of bad anti-dog legislation that is brought up consistently in cities. Here is just one website that is anti-PETA:

http://www.petakillsanimals.com/article_detail.cfm?article=134

I would like to add that put simplistically, people think Gee, PETA has good ideas that they put forward. But dig deeper, you find something very problematic and dangerous. Any normal person abhors mistreatment of animals of any kind, but PETA lumps the good in with the bad. Anyone that has anything to do with animals is bad in their opinion.

I would also like to point out that I am for spay/neuter programs for pets. I am against puppy mills and pet stores that sell pets bred at puppy mills.

I am for responsible breeders, who breed only animals that have their health clearances, who require that dogs/cats placed in pet homes be neutered; who place their animals in proper good loving homes. Breeders who raise their babies in clean environments with lots of socialization. PETA would like to wipe these people off the face of the earth, along with farmers, those who fish or hunt, etc.

Personally, before I hand over money to humane organizations, I would check them out thoroughly. I find it is best to donate to local rescue and local humane societies. Some dog breeds have their own medical aide organizations that will donate funds to specific dog rescue groups for veterinary bills, such as http://www.corgiaid.org/ for corgis and corgi mixes.

~Birgit
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thanks.

why "not involved with PITA"?

I will answer, but it is OT.

I apologize for my incorrect spelling, it should be PETA, or People for the Ethical Treatment of Animals. This is kind of opening a can of worms. PETA is anti-pet for one thing, among lots of other


i somehow knew you meant PETA ...i forgot they're anti-Pet, anti-zoo ...


( and don't see why it's OT ... at least as on-topic as "ACLU? ICK!!!" <g> )


-b
...... i'm new to Pet-world .. having just recently been adopted .. so i was curious. give to the local SPCA (partly cuz they also rehab wild Animals) & gave to the shelter that 'helped' with my adoption (long story that would be OT).
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...While an individual house may be a home, a home need not be within a stand alone building...
TB

I don't see what in the world brought up that response...
...I'm afraid I don't really get this response...

AM


My response was not intended as a criticism.

TB
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Hello All;

While we're on the subject of donations to pets and amimal well being, I'd like to mention Best Friends in Kanub, Utah. It's an God send for mis-placed or mis-treated animals.

I donate money several times annually and believe that every donation is put to good effective use. The animals living there really recieve a lot of care and hope. Some may have had a rough go of life. Or maybe they were just not fortunate enough to have a loving, caring home. At Best Friends, they have a home, no matter what their condition may be. Of course, Best Friends will try to find outside homes for every animal.

None the less, please spende a few minutes at their web site. You'll be surprised just how much they do and how much they care.

http://www.bestfriends.org/

Best Friends is a no-kill facility and has several thousand animals living there at any one time. Please give it your consideration.

Thanks, Jim
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I understand fully why Jimmy Carter started Habitat for Humanity

Jimmy Carter did not start Habitat for Humanity. It was founded by Millard Fuller. However, Carter has been a famous supporter and has given it a lot of visibility.

Fuller was ousted by the board a several years ago, and he went on to found another similar organization.

Carol
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Jimmy Carter did not start Habitat for Humanity. It was founded by Millard Fuller. However, Carter has been a famous supporter and has given it a lot of visibility.

Fuller was ousted by the board a several years ago, and he went on to found another similar organization.


Wasn't Carter ousted from the Carter Foundation? Oh, wait, it was 15 members who resigned in protest of his anti-Semitic book.

--fleg
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Jimmy Carter did not start Habitat for Humanity. It was founded by Millard Fuller. However, Carter has been a famous supporter and has given it a lot of visibility.

Fuller was ousted by the board a several years ago, and he went on to found another similar organization.

Wasn't Carter ousted from the Carter Foundation? Oh, wait, it was 15 members who resigned in protest of his anti-Semitic book.

--fleg

----------------------

And this has to do with homes for the poor, how?
Or was it just an opportunity to get in a years-late political jab?

To nana -- Didn't know that Carter was not the originator of Habitat. However, he continues to support it, I believe. I know at least two people here who have benefited from that program and who now have homes. It's a great program.

AM
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shotzon:
I assume when YOU die you can leave money to any organization you like. AM chooses the ACLU. That is entirely her right and is completely unaffected by whether or not you like them. It's a strong way of continuing a legacy she approves of.

If you don't like it - tough toots.
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Well, I am going to leave my money to my kids (with some to care for any dog(s) that's left). My kids are family, family comes first and they really need it.

We sure got OT with this one<grin>

Birgit
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shotzon:
I assume when YOU die you can leave money to any organization you like. AM chooses the ACLU. That is entirely her right and is completely unaffected by whether or not you like them. It's a strong way of continuing a legacy she approves of.

If you don't like it - tough toots


No one else was castigated for their suggestions! Why single me out. I was just trying to direct the contributions where they will do the most to further the ACLU's agenda!
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My kids are family, family comes first

Most people feel that way, but I don't, perhaps because I only have an adult niece and nephew. Their father apparently took an incredible, uninformed leap and assumed that because we are child-free, they will be splitting my estate. Poor them. The bulk of my and ChiliDude's estate will go to animal rescue and animal service organizations. The niece and nephew will receive a decent amount, but it won't be 1/2 by any stretch.
They are in for such a shock. If they treated us like something more than a bank account they might have received more.
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Most people feel that way, but I don't, perhaps because I only have an adult niece and nephew. Their father apparently took an incredible, uninformed leap and assumed that because we are child-free, they will be splitting my estate. Poor them. The bulk of my and ChiliDude's estate will go to animal rescue and animal service organizations. The niece and nephew will receive a decent amount, but it won't be 1/2 by any stretch.
They are in for such a shock. If they treated us like something more than a bank account they might have received more.

----------------------


Kids should get jobs and earn money -- and save and invest it -- like we had to do. I did without an awful lot of stuff and vacations and other things over the years in order to be sure I'd have enough to live on.

I have no intention of continuing to do without things so that kids can inherit what I've worked hard for. I will leave them something... but will leave most of it to animal rescue and animal service organizations (and the ACLU - much to the aggravation of many...which just tickles me pink).

I've seen how money just slips right through kid's fingers -- squandered on all kinds of crap -- with no responsibility involved whatsoever. It's here! It's now! Let's spend it! Bah!

Get a job.
And learn to say "Thank You!" once in a while.

AM
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No one else was castigated for their suggestions! Why single me out.
Your suggestion had zero in the way of tangible contribution to the estate planning-discussion and was political yammering. And confrontational, at that.

You an AM have differing political views, but that really has no relevance here.
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hotzongoal: Why not give it directly to the "North American Man-Boy Love Association"?

Excellent idea! I shall include this worthy group in my will.

cliff
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Excellent idea! I shall include this worthy group in my will.

cliff

btw, the ACLU is already the contingent beneficiary in all my IRA accounts.

cliff
... don't want to leave Mrs. 666 penniless
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It seems a little odd to me that this thread went in the direction that it did. The referenced article stated that 20% of seniors have less than $8300 of annual income. While I do care for animals, I care a lot more about humans who are so far below the poverty line. I'm starting to think about charities like Meals on Wheels or Loaves and Fishes to try to help out these seniors.

One of my favorite charities is the Oregon Food Bank. For every $1 contributed, the food bank is able to distribute 5 pounds of food. This is because most of the food is donated and cash donations are mostly needed for logistics. I don't know how much of this food goes specifically to seniors, but if a family is hungry, age doesn't matter.

Just food for thought.

CG
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