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Info Seeker
Posts: 2
Registered: ‎07-29-2014

Re: What Would You Have Done Differently?

Message 21 of 58 (3,487 Views)

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.

Conversationalist
Posts: 8
Registered: ‎06-06-2009

Re: What Would You Have Done Differently?

Message 22 of 58 (3,501 Views)

I wish I had known about investing in an index fund in the stock market when I started working after getting my Ph.D. Even in my early forties I went to an "advisor" at an insurance company and no one ever mentioned this. In my mid forties I took over my own investments, learned about The Motley Fool, and have done much better than anyone else ever did for me. I have learned how to invest in individual stocks, and have made up for most of the gains I lost over the years not knowing about index funds.

Info Seeker
Posts: 1
Registered: ‎08-31-2010

Re: What Would You Have Done Differently?

Message 23 of 58 (3,498 Views)

1. Not listening & believe in congress & the President now & from many years past cuz they aren't interested in your welfare.....only theirs. I'll never ever forget the emotional & financial hardships they placed on me due to The Great Recession that George W. & congress railroaded American's into. I. like perhaps many other Americans, didn't see it coming before it was too late. They can shove their idea of NAFTA & CAFTA to hell as far as I'm concern. Can't figure out yet why congress had ta fix things with NAFTA & CAFTA. I am reminded that "If it ain't broke, don't fix it." 

 

2.  It getting to where I don't wanna vote anymore. All I'll be doing is voting a jerk out ta put another jerk in.

 

3.  So with that thought, I'll take a lesson from them, I'll ignor their aproach to represent me and take care of myself in the MSSE (The Most Screwedup Society & Era I've ever lived in my life).

 

 

Info Seeker
Posts: 1
Registered: ‎04-16-2011

Re: What Would You Have Done Differently?

Message 24 of 58 (3,505 Views)
I wish I could have had an education, too late for me now, close to losing everything and almost 61 years of age, and single.

Thank you,

J.Z.
Info Seeker
Posts: 1
Registered: ‎05-15-2014

Re: What Would You Have Done Differently?

Message 25 of 58 (3,533 Views)
At my refinancing to complete a major house renovation, I would have taken a 15-year mortgage term instead of 30. I'd be almost finished now.
Info Seeker
Posts: 2
Registered: ‎04-23-2013

Re: What Would You Have Done Differently?

Message 26 of 58 (3,545 Views)

SAVE, INVEST, NEVER LIVE ABOVE YOUR MEANS!

Treasured Social Butterfly
Posts: 19,487
Registered: ‎12-25-2011

Re: What Would You Have Done Differently?

Message 27 of 58 (3,555 Views)
rthornton wrote:

     What I would have done differently? My whole life, I have had a weakness for cars. For a good share of my working life, I could afford to buy 1 or 2 new cars every year. Espicially when my wife was, aat times, making more then me. I have owned over 100 cars since 1967.

      Now, I am pretty much broke and don't have the car I would really like to have, much less all the money I have spent. ..


What are you doing differently now .. it's never too late to start on the right path!


Registered on Online Community since 2007!
Info Seeker
Posts: 1
Registered: ‎12-24-2011

Re: What Would You Have Done Differently?

Message 28 of 58 (3,555 Views)

Following my graduation from college I would begin to establish vehicles to ensure my life was financially stable.  From the beginning of my working career I would have invested the maximum amount I could each month into the Roth portion of my employer's retirement plan. Initaially, I would seek help from a knowledgeable investment professional in determining the optimal asset allocation for someone my age and consonant with my now carefully ascertained investment risk tolerance.  Annually, at the beginning of each new year, I would reallocate my investments so that they continued to be configured in line with my then current asset allocation plan.  This would be the time I would extablish a percentage of my income to be set aside for charitable donation, recognizing a moral (or religious) obligation to share some of my bounty with the organization(s) I deemed deserving of my support.   After being sure I had appropriate medical, property & casualty and disability insurance in place,  I would also make certain to have an emergency fund with at least six months cash to cover fixed expenses in the event of job loss or extended disability.  Next  I would purchase sufficient term life insurance to provide well for my family in the unlikely event of my premature death.  As soon as financially possible I would begin to convert as much of that term life insurance to the type of permanent universal life insurance policy I felt comfortable with, overfunding it with extra premiums until it would sustain itself comfortably, then terminate paying premiums..  Those premium dollars would be reallocated to pay down any still-existing debt, finally concluding with the mortgage on my home. At some point early in life I would learn the term "delayed gratification" and strive to understand its importance as I viewed the unbelievably wonderful projections of what my later years would likely look financially, if I followed these suggestions faithfully.

 

   

Conversationalist
Posts: 9
Registered: ‎10-05-2008

Re: What Would You Have Done Differently?

Message 29 of 58 (3,483 Views)

     What I would have done differently? My whole life, I have had a weakness for cars. For a good share of my working life, I could afford to buy 1 or 2 new cars every year. Espicially when my wife was, aat times, making more then me. I have owned over 100 cars since 1967.

      Now, I am pretty much broke and don't have the car I would really like to have, much less all the money I have spent. I should have kept with one car alot longer and liked it. i might have some money now thatI am retired.

      The second think I really messed up on was letting myself get talked out of my IRA that paid a monthly benefit and just took the cash. That is now about gone.

      So, yes, I really messed up and wish I could do it over again.

Info Seeker
Posts: 5
Registered: ‎03-05-2010

Re: What Would You Have Done Differently?

Message 30 of 58 (3,489 Views)
I would have worked less and spent more time with friends and family...& checked more things off the bucket list...things that I am not physically able to do now.