# What retirement advice would you offer to younger people?



## StarSong (Dec 30, 2019)

I'd strongly advise people in service industry or gig economy to declare their tips and income, meaning they should pay their taxes.  So many seniors are barely scraping by on very low SS because a lot of their income came under the table. 

Retirement will arrive before they know it.


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## Aunt Bea (Dec 30, 2019)

When you are young and establishing relationships/family live cheap and save then buy a comfortable home in a good school system just before your kids start school.

Develop skills and interests that can be shared with friends and family use those skills to save money and create value while enjoying yourself.

Avoid consumer/credit card debt and pay as you go for most things other than a house.

Spend on the things that are important to your family and scrimp on the things that aren't.

Don't worry too much, enjoy your life and create some great memories to sustain you in your final years.


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## street (Dec 30, 2019)

1) Save every chance you can and would recommend 25% each month from your check etc..
2) Take time to take care of you, your health.
3) Have a plan and set goals.


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## Lvstotrvl (Dec 30, 2019)

If at all possible, pay off your mortgage before you retire. For me it was the best thing we did, also if you have children once they leave the nest start seriously saving as much as you can.

Be careful with the credit cards, only charge what you can pay off at the end of the month. Paying interest is like throwing money away.


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## gennie (Dec 30, 2019)

All of the above. Plus:

If what you're buying is for safety or important usage or for long term frequent use, buy the best you can afford. 

 If it is unimportant or a single-use item, buy the cheapest that will do the job. 

Buy and use frequently a good electric tooth brush.  Your retired teeth will appreciate it.


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## jerry old (Dec 30, 2019)

All good stuff, but experience is the best teacher.
I did not pay attention to the old folks advise; did you?


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## Knight (Dec 30, 2019)

Understand the difference between a need & a want. 

Understand that life & the world change about ever 10 years, be as ready as possible for whatever comes with the changes. Give examples of change.

Pay attention to what politicians promise. 

Read about money management & investing. Compare your circumstances to what you learn.  

Depend on yourself to live the best life you can.

As for advice from old folks. I remember the advice to work with the fattest person on any job. Not because they are lazy but because they will find the easiest way to get the job done. That rang true over the years working at different jobs.


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## Catlady (Dec 30, 2019)

Start saving as early as you possibly can and invest in stocks, individual or ETFs if not interested in learning about individual companies.


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## StarSong (Dec 31, 2019)

jerry r. garner said:


> All good stuff, but experience is the best teacher.
> I did not pay attention to the old folks advise; did you?



Not as much as I wish I had. But since at least some advice falls on fertile ground, it's worthwhile to offer it to those who appear interested.


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## retiredtraveler (Dec 31, 2019)

I agree with the main points about saving early and investing. I would add that in order to save, you need to look at your overall lifestyle and how it affects your expenses. Therefore, make your own coffee, learn to cook and limit eating out, try to get as inexpensive rent as you can, drive an inexpensive auto, be an informed consumer, learn about cash back credit cards and dozens of other items that used together, can save you thousands a year.


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## moviequeen1 (Jan 18, 2020)

I suggest you buy a notebook,keep track of where you spend your money each month/credit card purchases
I've been doing this for yrs,since I pay almost everything in cash
I have 1 credit card,no need for anymore


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## Liberty (Jan 18, 2020)

retiredtraveler said:


> I agree with the main points about saving early and investing. I would add that in order to save, you need to look at your overall lifestyle and how it affects your expenses. Therefore, make your own coffee, learn to cook and limit eating out, try to get as inexpensive rent as you can, drive an inexpensive auto, be an informed consumer, learn about cash back credit cards and dozens of other items that used together, can save you thousands a year.


In short "be in survival mode".  Another good way is have a rich loving son.  Boy are we blessed!


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## Lc jones (Jan 18, 2020)

You can tell that people have developed wisdom over the years by reading this thread, great advice everyone!


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## Gardenlover (Jan 18, 2020)

*What retirement advice would you offer to younger people?*

Do it sooner than later.


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## OneEyedDiva (Jan 20, 2020)

1. Start saving at least 20% of your income as soon as you start working.
2. Once you build up an adequate emergency fund, start investing that 20% (if possible). Read financial and investment articles to educate yourself if you decide not to use a professional.
3. Even if your job offers a 401K, put some money into a Roth as well. Tax free withdrawals will come in handy down the line.
4. Aspire to be debt free by the time you retire. 
5. Don't wait until you're too old to enjoy retirement to do it.  And have some things lined up that you will love doing once you retire.


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## StarSong (Jan 20, 2020)

My mother taught me to spend a little, save a little.  Have a good time while you're young, but not so good that you can't also enjoy life when you get older.  

Her advice was right on target.


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## Liberty (Jan 20, 2020)

I may be wrong, but it sure seems like things today are way more complicated and apts (even old beat up ones if you could find them) cost more than in the old days relative to starting out pay for a lot of the younger generation.  In our day rents were cheaper and it was easier to save money.  Then you could buy an old "first" house that required major hacking and fix it up yourself.  Then sell it and make money. You could drive an older car or take public transportation.  Today the commutes would cross a cat's eyes!


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## Aunt Bea (Jan 20, 2020)

Liberty said:


> I may be wrong, but it sure seems like things today are way more complicated and apts (even old beat up ones if you could find them) cost more than in the old days relative to starting out pay for a lot of the younger generation.  In our day rents were cheaper and it was easier to save money.  Then you could buy an old "first" house that required major hacking and fix it up yourself.  Then sell it and make money. You could drive an older car or take public transportation.  Today the commutes would cross a cat's eyes!


That's true but you have to look at the other side of the coin too, my first real job paid $3.60/hour gross.

IMO the only thing that has changed is the numbers.


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## Liberty (Jan 20, 2020)

Aunt Bea said:


> That's true but you have to look at the other side of the coin too, my first real job paid $3.60/hour gross.
> 
> IMO the only thing that has changed is the numbers.


Maybe not:

https://www.cnbc.com/2017/06/21/lif...ive-for-you-than-it-was-for-your-parents.html


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## Aunt Bea (Jan 20, 2020)

Liberty said:


> Maybe not:
> 
> https://www.cnbc.com/2017/06/21/lif...ive-for-you-than-it-was-for-your-parents.html



The video reminded me of my stepfather, he believed that if you made $12,000.00/year and lived in a new $30,000.00 house you couldn't ask for anything more.

I still think kids today are just like we were when we were young.  

If you can't afford to go to Harvard you go to a state school or a community college and if you can't afford a two-bedroom apartment you get a studio in a sketchy part of town, etc...

I feel the same way when I read the scary stories about the high cost of retirement.  

We all need to bring our expenses into line with our income and do the best we can with what we've got.


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## Liberty (Jan 20, 2020)

Aunt Bea said:


> The video reminded me of my stepfather, he believed that if you made $12,000.00/year and lived in a new $30,000.00 house you couldn't ask for anything more.
> 
> I still think kids today are just like we were when we were young.
> 
> ...


Sometimes I think those frightening retirement articles do more harm then good.  If you thought you might be able to retire and read something like that - well, talk about feeling deflated...lol.  Who can be prepared for everything!  

Sometimes no matter how much money they may have, the so called "experts" will tell them its not enough.  Then they may always have the retirement "poverty mentality" and not be able to even enjoy their golden years for fear of something bad happening.


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## Pecos (Jan 20, 2020)

Recognize that all retirements are different:
If you truly love your work, then your long term financial security is largely dependent on how long you work rather than how much you make.
Otherwise, marry wisely, save like the devil, invest smartly, hope for the best, and plan for the worst.


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## StarSong (Jan 20, 2020)

Liberty said:


> Sometimes I think those frightening retirement articles do more harm then good.  If you thought you might be able to retire and read something like that - well, talk about feeling deflated...lol.  Who can be prepared for everything!
> 
> Sometimes no matter how much money they may have, the so called "experts" will tell them its not enough.  Then they may always have the retirement "poverty mentality" and not be able to even enjoy their golden years for fear of something bad happening.



Agreed,  This article is so exaggerated that whatever truths lie within are easily lost.  Back in 1980, I sure as heck didn't know anyone who could afford a 2 BR apartment on a 40 hour minimum wage paycheck.  I made well over minimum and always needed roommates, even though rents were low in Los Angeles at that time.  Roommates were the rule, not the exception.

In 1964 my parents sold their Long Island home for $32K and bought a home in NJ for the low $40s.

When hubby & I bought our house in 1985 (for $135K), our payments snagged far more than the idealized 1/3 share of our income.  Everyone in our age group was in the same boat.  We'd saved like crazy to put together the 20% down ($27K).  No mean feat when our average COMBINED salaries came to an annual $26K (before taxes - I just checked our SS records so I know that the number is accurate).

The first few years we scrambled to afford the mortgage, because (surprise!) twins in addition to our two year old so I had to quit working or pay my full salary in daycare. Forget vacations, fancy restaurant dinners, etc. The thing is, we weren't doing anything special - EVERYONE did the same to buy their first homes.

I'm not saying it's easy for young adults to buy homes - far from it.  However, it is more than possible for those who avoid crazy levels of student loan debt, go to community colleges and then public universities, and get degrees in fields that offer decent salaries (art history majors don't qualify).  Then, like generations before them, they have to be willing to pay some serious scrimping and savings dues in order to get there.   

I also notice this article skips over interest rates.
To compare apples to apples, I just did a comparison of a $400K 30 year mortgage at the going rate of 3.75%. Total $1891 per month. 
Our $110K mortgage in 1985 at 13.25%?   $1238 per month.  That same $1238 in 2020 dollars?  $2958. 

Just sayin...


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## StarSong (Jan 20, 2020)

Double post - deleted


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## Liberty (Jan 20, 2020)

Oh yes, sure do remember working multiple jobs to be able to afford things.  Even in high school, worked after school and on weekends.  Also remember posting the PHD job positions on the bulletin board at Case Western Reserve U. - at the time I was doing legal secretarial work and remember deciding to give up anthropological (earth science) studies as I made almost as much as these "Plenty, Heavy deep, profs" made.  Couldn't afford it...lol.

But, now the college teachers - especially the Ivy league ones - make so much more money and have so many extra perks.  Thinking we will be looking at more tech school educations that pay off in the future.  After all, a lot of parents can't  continue afford to pay these high tuitions.


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## SeaBreeze (Jan 20, 2020)

Save as much as possible for retirement, never too early to do so.  Work overtime if available when you're young to save extra.  Don't buy anything with your credit cards unless you can pay them off in full when the bill comes.  Don't deny yourself nice vacations, good food, nice vehicles....but don't throw away money on junk purchases, things you won't use or even look at for years.  Pay your mortgage/vehicles in full before retiring.  Pretty much what the folks above me already mentioned.  An try and take care of your health, you will benefit during your retirement if you're mobile and can get around and be independent.


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## Capt Lightning (Jan 20, 2020)

Retire as soon as you can afford to...  BUT...  make sure you start off debt free, have reasonable savings and above all, have things to keep you occupied.  The first two things may mean some hard graft and a lot of saving.  The third thing may not cost you much, but is vital for your sanity.


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## jerry old (Jan 20, 2020)

Pecos says* marry wisely,*  we marry when we are  ignorant. 
 Solution: none that I know of... flip a coin? what?


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## Don M. (Jan 20, 2020)

2 things....Be Debt Free, and Stay Fit and Healthy.  Retiring with any debt....mortgage, etc., severely reduces the ability to "enjoy" the Golden Years.  The same thing with Health.  Spending excessive time at the doctor's office is Not conducive to enjoying retirement.


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## OneEyedDiva (Jan 21, 2020)

StarSong said:


> My mother taught me to spend a little, save a little.  Have a good time while you're young, but not so good that you can't also enjoy life when you get older.
> 
> Her advice was right on target.


That sure was great advice StarSong.


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## Liberty (Jan 21, 2020)

Capt Lightning said:


> Retire as soon as you can afford to...  BUT...  make sure you start off debt free, have reasonable savings and above all, have things to keep you occupied.  The first two things may mean some hard graft and a lot of saving.  The third thing may not cost you much, but is vital for your sanity.


You know, there's a lot of discussion about "how much is enough".  We know people that are filthy rich that don't think they may have enough.  They are living well and have millions, lots of money over their current lifestyle overheads,but still keep worrying.

Wondering  - "how much actually  is enough" these days!!!


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## Butterfly (Jan 22, 2020)

jerry r. garner said:


> All good stuff, but experience is the best teacher.
> I did not pay attention to the old folks advise; did you?



Actually, I did pay attention.  I started saving early -- not much at first, but steadily -- and refused all temptation to touch those savings no matter what.  Besides my little amount of allocated savings, I put all "found money" -- like Christmas bonuses, tax refunds, etc. -- into those savings/mutual funds/whatever.  I'm glad I did it.


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## debodun (Feb 2, 2020)

Save as much as you can.


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## tbeltrans (Feb 2, 2020)

Lvstotrvl said:


> If at all possible, pay off your mortgage before you retire. For me it was the best thing we did, also if you have children once they leave the nest start seriously saving as much as you can.
> 
> Be careful with the credit cards, only charge what you can pay off at the end of the month. Paying interest is like throwing money away.



I couldn't have said it better or as succinctly.  

Tony


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## tbeltrans (Feb 2, 2020)

jerry r. garner said:


> All good stuff, but experience is the best teacher.
> I did not pay attention to the old folks advise; did you?


 
We bought our condo when the building was 5 years old (built in 1983).   At that time, we were the youngest in the building, in our mid-40s.  Many of the people there had sold their big houses in the suburbs once the kids were gone, and bought in this building close in to the city.  These were the "Depression Babies", while we represented the "Baby Boomers".  It is amazing to realize the difference in attitudes toward money.  My generation seems to love credit, borrowing for anything and everything.  Those "Depression Babies" were far more conservative.  

Many in the building at that time didn't borrow to buy cars, instead paying themselves and using that instead of having to pay interest. They had a conservative approach to running our association too, and we are in a much better financial position today as a result of continuing their policies.  Their conservative approach meant spending where needed to keep the building in good repair (and not going cheap because quality work costs less in the long run), making sure that the association fees were enough to both maintain the building and build a solid reserve fund, and to not spend money on frivolous items.  They were adamantly opposed to borrowing money to get work done on the building, instead making sure that we had the money when it was needed by planning ahead.

We had a reserve study done by a third party vendor two years ago.  They told me that our association is among the best run they have seen, and that many are in various states of trouble due to some of the policies used, such as "delayed maintenance" and not collecting enough to build a solid reserve, in an effort to keep association fees artificially low.  We on the board used to get complaints when we would raise the fees a modest amount each year instead of a big bump every few years.  Always the question was along the lines of "I have a buddy who lives over in ... association and he doesn't pay the fees we do".  Well, now folks are seeing that we did right by the association because trying to play catch up on reserve funds is like starting to save for retirement at age 60.  It doesn't work.  We have never had an assessment, while we are now hearing from other people in other associations that are paying large assessments for work that needs to be done, and we have a large reserve that covers what work needs to be done.

I spent many years on the board with these people and yes, I learned a lot from them.  Today, I remain on the board and have been president for several years.  I do my best to make sure that we continue along the path set for us by those "Depression Babies" back then, and hope we continue along that path at least for as long as we continue to live in the building.

Living among these folks, I learned a lot about handling financial issues as well as observing what it is like to be retired.  When working, we don't see those who retire.  They just disappear and we don't get to observe what goes right and what issues they have.  In our association, I saw and heard about the issues, and have been able to prepare accordingly.  We learned how to handle our finances, and it is nothing like those slick, big talkers who spew all that stock market talk.  Common sense tops that sort of thing every time.  The main thing I would tell somebody  starting out today is "spend less than you earn and always pay yourself first".  Until a person can do that, discussion about what to do with that money will have to wait because it is pointless if the money isn't there to do anything with in the first place.

Tony


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## Manatee (Feb 2, 2020)

I paid off the mortgage and retired a week later, both were good moves.


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## ClassicRockr (Feb 2, 2020)

Well, first, younger folks of today simply aren't going to listen to the word "save" and "use cash" or pretty much any other advice us old/older folks can tell them. 

We are now in the "day and age" of spending, not nearly as much saving as some of us did. Some want to take their family to Disneyland, Disney World, on a family cruise, new car/truck, nice house, out to eat and so forth. When Christmas comes around, the young folks want all of the new electronic stuff, plus. They don't care about the cost, because they are making such a nice salary. 

As far as "paying by cash", very few of the younger folks will do that, unless they can't get credit. The name of the game today is credit cards..…….period!


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## Pinky (Feb 24, 2020)

We always pay off our credit cards at the end of the month, and normally use them once a week when we go out for a meal. They are too easy to use.

Okay, if you need it for a large purchase, use it .. but pay it off as soon as possible. I worked with a young woman who furnished her apartment with a credit card, only to have it all revoked because she couldn't make her minimum payments.


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## rkunsaw (Feb 24, 2020)

If you didn't follow the advice about saving when you were young and are a bit older start saving now! If you have a 401k max it out. Pay off mortgage, autos and any other debt before even thinking about retiring. Don't retire too early unless you can really afford it.


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## Skyking (Feb 24, 2020)

Don't get married. If you must, think very very carefully about kids and then, this is the important part, stay married! Don't get divorced. Now go back to the start of my post and chant it like a mantra... Do this till you fall asleep and when you wake up tomorrow, have fun, live in the moment, give thanks to God.


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## Ken N Tx (Feb 25, 2020)

Skyking said:


> Don't get married.


 

*Going on 57 years!!!*


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## MarciKS (Apr 26, 2020)

Pecos said:


> Recognize that all retirements are different:
> If you truly love your work, then your long term financial security is largely dependent on how long you work rather than how much you make.
> Otherwise, marry wisely, save like the devil, invest smartly, hope for the best, and plan for the worst.



Marry wisely?? What does that mean?


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## MarciKS (Apr 26, 2020)

Just out of curiosity...I'm reading a lot of "save as much as you can"..."max out 401k"..."get investments" but, what I wanna know...is how much money do you people have that you can afford all that plus a house, plus a car?

I live on food service wages & they work me to death. I need every penny I make just to get by. And the very idea of a 2nd job isn't gonna happen. I can barely manage the one I have. A decent car and a house are totally out of budget for me. By the time I pay for my rent, bills, medications and food...that's at *least* one paycheck right there. The other check I have to hang onto in case of emergencies. I live paycheck to paycheck. I need furniture and curtains worse than I do an IRA acct. I didn't have the opportunity to go to college so I could make a decent living. So I've been forced to spend a lifetime at near poverty level. I tried the marriage route. That didn't go well at all. So here I am. Telling me to max out a 401k? With what money? I've had financial set backs for years. I have nothing to pilfer from to save.


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## Liberty (Apr 26, 2020)

Aunt Bea said:


> That's true but you have to look at the other side of the coin too, my first real job paid $3.60/hour gross.
> 
> IMO the only thing that has changed is the numbers.


And way way more people everywhere.  How did we ever get so many people in this country...lol.


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## Em in Ohio (Apr 26, 2020)

Needs are those things required for basic survival:  food, clothing, shelter.  Meet the needs first, but do it frugally - don't be swayed by advertising or trying to 'keep up with the Joneses.'  Always buy used/pre-owned homes or cars.  Learn how to be a do-it-yourselfer. Repair if possible, don't replace.  Live within your means, not on credit.  Set aside the money you saved by being frugal for a rainy day fund.  If you have a dollar to spare at the end of the month, buy a chocolate bar!


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## OneEyedDiva (Apr 26, 2020)

MarciKS said:


> Just out of curiosity...I'm reading a lot of "save as much as you can"..."max out 401k"..."get investments" but, what I wanna know...is how much money do you people have that you can afford all that plus a house, plus a car?
> 
> I live on food service wages & they work me to death. I need every penny I make just to get by. And the very idea of a 2nd job isn't gonna happen. I can barely manage the one I have. A decent car and a house are totally out of budget for me. By the time I pay for my rent, bills, medications and food...that's at *least* one paycheck right there. The other check I have to hang onto in case of emergencies. I live paycheck to paycheck. I need furniture and curtains worse than I do an IRA acct. I didn't have the opportunity to go to college so I could make a decent living. So I've been forced to spend a lifetime at near poverty level. I tried the marriage route. That didn't go well at all. So here I am. Telling me to max out a 401k? With what money? I've had financial set backs for years. I have nothing to pilfer from to save.


Been there, done that. I was "poor girl" in my 20's and early 30's. What helped me was I followed my mother's advice and "rented" an apartment in a co-op development when I was 24. Didn't even know I owned the unit until our stock holder certificates were issued a couple of years later. I thought the downpayment ($700) was a security deposit. I started out paying $181 a month back then. My take home was only $350 a month. Blessedly, I could walk to work and home for lunch. My son's school was right around the corner form my job  so I didn't need a car. Eventually I managed to start saving...starting with $6 a paycheck ; I got paid every two weeks. My mother used to tell me I needed carpet; I'd say to her I couldn't afford it. To my surprise, I got an unsolicited credit card from Chase when I was 23. I used it sparingly and always paid my bill in full and on time. I never paid bank fees back then (courtesy of direct deposit) and still don't. I shopped at thrift shops for my clothes  but bought my son's at a department store when they had great sales, plus he got some good hand me downs. I was on partial welfare for about 6 months. Every time we got our little raises, I upped my savings a little. Also I used to get healthy tax returns. I'd divide that into thirds. 1/3 into savings, 1/3 to pay off bills, 1/3 to do whatever I wanted.

I didn't go to college until I was 37 and only went for two years. My life and income started changing for the better during that time due to  a supervisor who offered me a field position, then later a change to state payroll. I was in the right place at the right time with very supportive co-workers. Still I feel for you and your plight, especially since you don't have options. I have known many people in your same situation. I have a good friend who can't catch a break no matter how hard she works. One online friend I've had for over a decade is living on only his Social Security, has several health issues and barely has a dime left over at the end of the month.

My grandson was on the honor roll all through college..made the Dean's list, the President's list, was inducted into the Phi Theta Kappa and the National Honor Society. Still he could not find a job in his chosen field and didn't work for almost 2 years after he graduated. He still isn't working to his capacity. My son never went to college, now he's considered an essential worker (truck driver) and makes a decent living.  So having attended college isn't a guarantee of being able to find a good paying job. Don't diminish your self worth because you couldn't go.  I hope that somehow your situation changes for the better Marci.


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## Aunt Bea (Apr 26, 2020)

Liberty said:


> And way way more people everywhere.  How did we ever get so many people in this country...lol.


The old fashioned way!


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## MarciKS (Apr 26, 2020)

OneEyedDiva said:


> Been there, done that. I was "poor girl" in my 20's and early 30's. What helped me was I followed my mother's advice and "rented" an apartment in a co-op development when I was 24. Didn't even know I owned the unit until our stock holder certificates were issued a couple of years later. I thought the downpayment ($700) was a security deposit. I started out paying $181 a month back then. My take home was only $350 a month. Blessedly, I could walk to work and home for lunch. My son's school was right around the corner form my job  so I didn't need a car. Eventually I managed to start saving...starting with $6 a paycheck ; I got paid every two weeks. My mother used to tell me I needed carpet; I'd say to her I couldn't afford it. To my surprise, I got an unsolicited credit card from Chase when I was 23. I used it sparingly and always paid my bill in full and on time. I never paid bank fees back then (courtesy of direct deposit) and still don't. I shopped at thrift shops for my clothes  but bought my son's at a department store when they had great sales, plus he got some good hand me downs. I was on partial welfare for about 6 months. Every time we got our little raises, I upped my savings a little. Also I used to get healthy tax returns. I'd divide that into thirds. 1/3 into savings, 1/3 to pay off bills, 1/3 to do whatever I wanted.
> 
> I didn't go to college until I was 37 and only went for two years. My life and income started changing for the better during that time due to  a supervisor who offered me a field position, then later a change to state payroll. I was in the right place at the right time with very supportive co-workers. Still I feel for you and your plight, especially since you don't have options. I have known many people in your same situation. I have a good friend who can't catch a break no matter how hard she works. One online friend I've had for over a decade is living on only his Social Security, has several health issues and barely has a dime left over at the end of the month.
> 
> My grandson was on the honor roll all through college..made the Dean's list, the President's list, was inducted into the Phi Theta Kappa and the National Honor Society. Still he could not find a job in his chosen field and didn't work for almost 2 years after he graduated. He still isn't working to his capacity. My son never went to college, now he's considered an essential worker (truck driver) and makes a decent living.  So having attended college isn't a guarantee of being able to find a good paying job. Don't diminish your self worth because you couldn't go.  I hope that somehow your situation changes for the better Marci.



In order for me to have any hope at a half way decent vehicle I would have to start saving my tax refund for that. I guess if I have big bills that need paying off they will just have to come second fiddle.


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## Red Cinders (Apr 26, 2020)

All excellent advice so far!

I would say:  "Have goals and always plan, but be flexible in those plans.  Be on the lookout for all ways to improve your financial situation and go after those opportunities.  Think very carefully about everything you spend even for something as small as that delicious candy bar calling your name.  Spend the majority of your money only on those things most important to you and do the rest on the cheap.  Balance in everything."


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## Knight (Apr 26, 2020)

MarciKS there are millions just like you living from paycheck to paycheck, life isn't fair. Way to many variables to try to explain why that is.  College isn't always the ticket or way to a higher standard of living, if it was there wouldn't be so many returning home to live with their parents. Where you live, your job opportunities , your age, your health, what  skills you have, on & on for trying to figure out why you didn't get that lucky place in life.

 Meanwhile there is a bright side. You could have been born in a 3rd. world country living in a shack with no indoor plumbing, & both parents sick with HIV. It's all in how you look at what you have as opposed to what you don't have.


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## Liberty (Apr 26, 2020)

Yes, this is an interesting article on world wide wealth and poverty:

https://relevantmagazine.com/current16/8-stats-will-change-way-you-think-about-wealth/


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## MarciKS (Apr 26, 2020)

Knight said:


> MarciKS there are millions just like you living from paycheck to paycheck, life isn't fair. Way to many variables to try to explain why that is.  College isn't always the ticket or way to a higher standard of living, if it was there wouldn't be so many returning home to live with their parents. Where you live, your job opportunities , your age, your health, what  skills you have, on & on for trying to figure out why you didn't get that lucky place in life.
> 
> Meanwhile there is a bright side. You could have been born in a 3rd. world country living in a shack with no indoor plumbing, & both parents sick with HIV. It's all in how you look at what you have as opposed to what you don't have.



I understand that. That wasn't the point.


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## Knight (Apr 26, 2020)

MarciKS said:


> I understand that. That wasn't the point.


What was your point?

It's not like I've/we've my wife of 58 years have never experienced paycheck to paycheck. But to move back to the states in 1973 with two kids, two suitcases of clothes, no job, no car, no home.  Whatever you think your are experiencing is tough try to imagine how that must have been for us.  Retired early fully funded at age 54 with two 401k's converted to 4 IRA's  two pension checks & two soc. sec accounts assured in 1995.  I am in no way bragging just pointing out that how you live and what goals you set make a difference .


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## C'est Moi (Apr 26, 2020)

MarciKS said:


> Marry wisely?? What does that mean?


Marry someone with similar goals to your own.   Many people try to save and live sensibly but are married to people who want to buy everything, run up credit cards, etc.  Makes for a stressful life and a skimpy retirement.


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## Old&InTheWay (Apr 27, 2020)

Neither a borrower nor lender be 
 -- that Billy guy


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