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Re: What Would You Have Done Differently?

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Message 21 of 70

Dear Respected Social Butterfly,

 

                   This is our opinion only. Reg. what would we nave done differently

 

   Me and my wife have been with xxx insurance co. Medicare recipient for quite a while and had no problems as long as we were living in Georgia, but recently we moved to Richmond, VA and we did everything that they advised us to do, including getting doctors they recommended us to register with. Then the problems with the Insurance company started. They generated all sorts of excuses regarding medical payments. This morning my wife spent about an hour to iron out the problems. , but no success.

    If we had known that a VA insurance company could be this troublesome to Medicare senior citizens we would have done differently. We would have changed the Insurance Company as well. Now we are stuck with them for at least a year, and they know it too.

 

   Medicare receipian

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Re: What Would You Have Done Differently?

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Message 22 of 70

ja9180759 wrote:

I should not have  listened to my co workers who told me to save before taxes.  I am now restricted because of the tax consequences of withdrawals. It would have been easier to pay taxes when I was working and could afford it.


When you pile up big IRAs, 401(k)s, those RMDs are a burden. Agreed. I am saving a pile in a taxable brokerage account now, as I no longer qualify for a Roth.

 

What I would have done differently - buy used cars, not new! I buy used now, though I treat my wife to a new one, but only about every decade, and a modest one.


Sincerely,
Peter
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Re: What Would You Have Done Differently?

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Message 23 of 70

Would have waited two years more before collecting SS

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Re: What Would You Have Done Differently?

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Message 24 of 70

"...... Just wish family & friends wouldn't bully those living a frugal lifestyle even though they could afford more. Now I bully them back because we're richer than they are & I'm happy.......".

 

      A bit more harsh than I would have stated, but I agree with the general sentiment. I have been called 'cheapskate' and 'weird' any number of times over the years (often because of older, small house in a semi-rural area, old cars, won't spend money on nice restaurants), mostly by relations through marriage (not direct family members). And yes, sure enough, now we're all in retirement, or approaching it, and I'm the one going to Europe every year and they are still paying large mortgages on oversized homes.    

     I perfectly understand that a small percentage of people have circumstances beyond their control and didn't have much of a choice to do something differently (especially those paying for health related issues that even decent insurance didn't cover enough).  

    But postings here show what so many studies have revealed. Boomers just didn't pay attention to retirement and they're posting that they wish they had saved, not spent as much, etc.  


"...Mediocre people don’t ever take personal responsibility for their life..."
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Re: What Would You Have Done Differently?

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Message 25 of 70
goldye wrote:
Agree. Just wish family & friends wouldn't bully those living a frugal lifestyle even though they could afford more. Now I bully them back because we're richer than they are & I'm happy to see them suffer in poverty.

I hope you're just being facetious, because that's really not a mature way of dealing with people.


Registered on Online Community since 2007!
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Re: What Would You Have Done Differently?

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Message 26 of 70
Agree. Just wish family & friends wouldn't bully those living a frugal lifestyle even though they could afford more. Now I bully them back because we're richer than they are & I'm happy to see them suffer in poverty.
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Re: What Would You Have Done Differently?

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Message 27 of 70

When I was growing up in Ohio, girls weren't considered much for the academic life.  My father didn't think it was necessary to give a girl a college education - "What's she going to do? - speak French when she's scrubbing floors!" was his thought on that subject.  I should have believed in myself and pushed harder for that education, although the girls in college at that time were thought of as "husband hunters."   I did get out in the world and saw a lot of it. Yet, if I had more than a little Junior College, I know I would have been far more successful.   Whatever I learned I have taught myself and it's been a decent life.  You're always under the glass ceiling without it.

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Re: What Would You Have Done Differently?

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Message 28 of 70

Nearly all my mistakes have been selling investments too soon and then watching them soar higher.  Buying well-capitalized, conservatively run insurance company stocks and reinvesting the dividends will eventually yield enormous returns.  Insurance is one of those things that will probably never go out of style or be replaced by something newer.  Insurance is the next best thing to having a license to print money.  Warren Buffett figured that out, and look where it got him.  Berkshire Hathaway is essentially an insurance company with some other businesses on the side.  Insurance companies take in loads of money and then pay out as little as they can possibly get away with. 

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Re: What Would You Have Done Differently?

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Message 29 of 70
Should have started saving earlier even if it was a small amount. Should have gone to work for the government like my parents encouraged me to. What makes it so difficult is trying to determine how much you will need, where to invest your savings and how much to take out each year. I have been to several financial advisors and am reluctant to trust any of them. My Mom is 94 and very healthy.
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Re: What Would You Have Done Differently?

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Message 30 of 70

I would not lend money to family.  In the majority of cases, they do not repay what you specified was a loan, not a gift.

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