Monday, October 3, 2022

Money Monday- What's Really Important

   


    It was fun watching a winning Vikings game played in London. It might have been a gift win, on the benefit receiving end of some iffy ref calls, but I'll take it. Though, it felt weird, wrong almost, to give two nickels when I'm between game coverage was scenes for hurricane relief. Even Tampa Bay still hosted a game to a full crowd. There were  commercials for children's cancer research and animal rescue resources.  All these so much more important than football. Still, things like sports fanning, a cold beer in a pub, Sunday brunch, and lazy Sundays with my family, are made sweeter to appreciate when life is challenging. 

     Here's my take tying this to money. It's important to have a safety net to protect ourselves financially from disaster, but we also need to keep enjoying the things that make life sweet. How to ensure doing both feels like my major challenge. I can't help think, do we have enough coverage should a tornado or fire hit my home? Do my kids have there own safety net should something run amiss in their lives? Are we prepared to help family and friends should they need it short or long term, through a place to stay, meals, clothing, or utilities? As we lose our shirts in our retirement accounts, as is reality right now, is there time to bounce back, or will I never truly be able to retire?  I ask these questions.

     I'm trying to do better asking others as well. Did I support anyone going through a hard time right now? Did I make an effort to message a friend I haven't talked to for a while? Did I make time to attend an event just because someone invited me and it's something they care about? Did I just enjoy a few simple pleasures, even if they were not time productive or in fact, a time waste? Was it a needless splurge, but added to my list of things that bring a bit of joy, so I bought it anyway?

     We need money to pay bills, now and savings for the future. But spending on a new dog in the family, despite the short term stress and adjustment, feels right, even if not optimally timed. Who knows where he might have wound up? Now we know, and we helped a bit with the rescue dog need, while having this beautiful being to welcome into our family.  DH taking an unpaid Saturday this weekend meant we got to see our nephews football game. We got to run a couple errands together, and spend the whole afternoon with our daughter. I need to remember that money means nothing if not either spent on or forgone for things that really matter. 

16 comments:

  1. It's such a good reminder. We have these chats with ourselves all the time. I love that your husband had a chance to see a football game, run an errand, & spend the day with your daughter.

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    1. He really enjoyed the game too. His brother appreciated him coming probably more than nephew. It was just nice to not feel all alone in a Saturday.

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  2. My aunt used to always tell me to prepare for the worst and hope for the best and that's what I've done all along. I've seen too many people wiped out financially by an illness or a natural disaster to know you can't plan for everything and worrying or stressing about what might happen is pointless. None of us know what are futures hold.

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    1. I wish I could get my husband to see that. He's got a perfect excuse to cut back his long hours with the dog help. I hope he sees that not working a Saturday was doable.

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  3. We have to remind ourselves that we never get this time back. Spending time doing things with loved ones brings with it memories. Even though things cost, the cost of not having memories is much higher. I am terrible about making good memories, as I am always working, or I have always been working and I have missed so much.
    But I don't want to do that anymore. TO hell with the cost. With your SSI and your Husbands SSI and your retirement can you pay your bills? Don't look at savings at this point. Look at bottom line what you will bring in with retirement accounts. IF you can live on that you are wealthy. I understand working for insurance bennies as those are important. But putting off retirement when you have enough to pay your bills, is not something I would do. Even though accounts are way down, I still go back to, Hubs and I can pay all our bills without touching savings, so we are fine. Even if I did not sew we would be fine. It would be tighter, but we could still eat and do.

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    1. We're both too young to get even the reduced SSI, but a year from now He could take the reduced. He could start drawing on his 401K. I think we'd be fine in just my salary. My take home might even be higher due to reduced tax burden. Try convincing a man raised by a workaholic father and a family of type A's.

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    2. I don’t know your full situation but I believe you work for the state? I retired from the state of Minnesota and their pension is amazing. Your details on that is private but with a pension and eventually 2 SS you will be fine. The best thing I ever did was stay in the government till retirement. Can’t imagine how future generations will retire. Out of 4 kids maybe one has a little retirement/pension work plan. At worst part time work? Consulting?

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    3. I made a major career change 7.5 years ago. No amazing pension, but we've been trying to be smart with money management. I write a post a while back about potential earning opportunities after retirement. Conducting, short project management, and substitute teaching were on my list. Health insurance is a major factor we are planning for.

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    4. I didn’t understand that. I’m a RN and still work intermittent so that offers a little extra funds so at this date 45 years working for the state. In my situation, retiring solo, what a blessing but sad that insurance is a huge concern for most looking at retirement. I had to pay about 4 years before Medicare, to keep the costly state plan. Depleted my health care savings fast and then had to cash flow :(. I was lucky enough to hold on until full SS, but could not afford to wait till 70. A huge increase but also would have taken years to even out, life’s too short.

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    5. I should add, I have a pension, but it's not career long accrued, so therefore more like supplemental, but not enough to live on. I worked the bulk of my career in nonprofits, paid much less than both for profit doing similar work. When I taught, it was hourly wages as a preschool teacher, not comparable to public k-12. We'll do ok. I'm grateful for what we've been able to save.

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  4. No one ever looks back on their lives and says, " I should have spent more time working." When the time is right, you and your husband will know. Besides, once retired, your husband might just find a side hustle that will make him still feel of value to his family and provide a few extra dollars to spend on fun things that you can do together. Ranee

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    1. That is the hope, Ranee. I think his frustration level at work is keeping him in a general beaten down mode. He's now close to 10 months to 62, but honestly, things need to change well before.

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  5. It's important to enjoy the moments too - and it's okay to give yourself little treats here and there! It's only money - you'd spend it anyway, right? :)

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    1. It goes towards something for sure and knowing some goes towards non things, it's better.

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  6. "It's important to have a safety net to protect ourselves financially from disaster, but we also need to keep enjoying the things that make life sweet. " Amen to that, sister.

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    1. You are a great example Vix. I hope to keep learning from people like you and Lori who live full lives, and do what is needed as well.

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