Posted on 09/14/2007 3:18:34 PM PDT by WFTR
Greetings, and Welcome to another Weekend Singles' Thread.
I've been planning all week to do one theme this weekend, and I realized just a few minutes ago that the theme that I planned is a week early. Furthermore, the discussion that I wanted to start was one that Dave wanted to join, and he won't be here this weekend. Because my timing would be wrong for the original theme and because I'd like to let Dave participate, I'm going to change topics at the last minute. (My apologies to the other hosts.) If things seem disjointed and unorganized, there's a good reason. I was confused and am putting together a different idea at the last minute.
This week's topic will be saving and investing. As always, participation is completely voluntary, but I want to emphasize that point when we're talking about money. The goal here is not to put anyone on the spot. What I hope we can do is talk about things in a way that lets people pick up bits of information that can help them without feeling embarrassed. I've written a bunch of the standard questions, but feel free to talk about any aspect of the subject that you find interesting or ask any questions that you want to ask.
How much time do you spend on investing your money? How long have you been investing? Do you have a modest amount in a 401k that you invest following pretty normal ideas of diversification or do you like to day trade taking big risks for big rewards?
How well do you understand investing and how the process works? Do you wish that you understood more? If so, what are you going to do to educate yourself? Do you ever watch financial shows or listen to them on the radio? Do you enjoy them?
Do you think investing is different for singles than it is for married people? Do you accept more risk as a single or do you accept less risk? A single person doesn't have a spouse who's going to argue about money, but do you have someone who knows how you are investing your money and who likes to talk about investing with you? If you were married, how much would you want to discuss investing with your spouse?
If you'd like to tell us, what are your financial goals? Do you feel that you can reach those goals?
Wonderful! You lucky lucky duck. Good for you to have gone and participated and waved the flag! 15,000 ! Wowzer!
Just skipping to the bonus question, WHERE I spent my dream vacation is nearly as irrelevant as whom I spend it with.
Most plans allow for several hundred text messages a month if you pay by Direct Debit or are invoiced monthly even some of the pay as you go options give you free text.
Though you can I think do so after 55 but it is much better to stay till 65 and annual statements reflect taking it at 65. In our plan you can also take a lump sum when you retire and monthly payment thereafter, if you pick this option the monthly payment are slightly reduced. One has weigh this up against how long you are likely to live and if you want to spend a bit more when you initially retire so use the lump sum say for a new care or a special holiday.
new care= new car :o)
Okay, if the location and the company are irrelevant, what’s significant about your dream vacation?
1. If you were a pirate, what would you name your flagship?
2. Where would you rather sail, the Caribbean, the South Pacific, or do you have another idea?
3. What kind and color of bird would you keep on your shoulder?
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1. I’d call it “Buck An Ear” and everyone who boards would have to pay accordingly, $2.00 for most.
2. Definitely South Pacific. Boycott Aruba!!!
3. A macaw? The blue ones. Only poopless.
[gecko cage?!]
Texting? Am I too old for that? LOL!
BTW, if you’re with Sprint, you can text. If you have the patience for it. I think it’s time consuming. Like phone trees.
I agree with you about texting. While I’ve never tried it, I don’t think I’d have the patience for it.
I find this irritating especially when it comes to my name as gives all weird and wonderful suggestions before it allows me to override and type my name.
The problem I find because I do not use it enough it never remembers what I actually want to type. Obviously with the youngsters using it all the time it quickly remembers their common words. One of my colleagues at work was going on holiday with his mates this weekend and on Friday morning the organiser of the group text them all with itinerary and reminders of things they needed for the trip such as passport, money, suntan lotion etc etc.
Well, took Corky to the vets today. She is starting to produce insulin on her own again so we are taking her off that for the time being. Sometimes diabetic cats can start making insulin again, go for a while and then go down again. She had a real low bood sugar level so there are times that she was mopey, slow and not eating as much and could be a factor in her losing some weight. She is doing good and just ate a bit today. We will go again in two weeks for a blood sugar check. Her thyroid is OK for a cat her age and we still give her fluids for the kidney problems. She’s sitting in the hallway looking at me now as I type this. Hopefully her fur won’t look as raggedy as we stop the insulin.
It's Sunday night, and we're sitting at our computers again. Here are tonight's bonus questions.
1. Speaking of finances, would you rather work for a company that offered a generous pension knowing that sometimes companies fail (or fail to fund the pension) and employees are left without pensions or would you rather work for a company that offered a somewhat less generous 401k but was putting your money in an account that actually belonged to you?
2. How important is "financial compatibility" when considering a partner?
3. Do you believe that you will ever be a millionaire?
I’m glad that she’s able to produce her own insulin for a while. I hope she’ll feel better during this time.
I have an aquaintance who back in 1999 was employed by a software company and instead of accepting a pay raise, he took it in company shares. At the time, he was considered a millionaire. Unfortunately, he had to hang on to the shares until his employment terminated, which it did and when it did, it was only worth pennies on the dollar........
Thats one of the drawbacks of being able to invest in the company you are working for.
1. 401(k) Pension is too much like trusting social security. I trust my own judgement and investments.
2. Important. I’m divorced after 20 years. My husband came into the marriage with huge credit card debt plus obligations for much of his future income. I believe he married me primarily for money. Not that I was rich, but I had savings and a good income and was able to buy a house which he immediately moved into. So I’m a little touchy about any future partner hoping to mooch off me. I’d prefer someone who is at least as well off as I am, not because I expect him to support me, but because I am wary of having to support him.
If I were young and single, I’d be willing to support a husband under certain circumstances, provided I was confident I was not being used. At this point in my life, I wouldn’t.
All that said, I think it’s important for couples to have compatible financial goals. That is easier if they have compatible spending styles. I know too many couples where one partner spends like crazy and the other is a saver. The saver ends up feeling like he or she is always sacrificing for the gratification of the spender and it creates resentment and friction in the marriage.
I tried it. I don't.
In view of this I would always go for a company who offers a pension plan because they contribute at least the same amount as you do and it is tax free. To get as good a pension yourself you would have to put in at least twice the amount you do with a company one because you do not get the company contribution also often schemes offered are not as good as company ones as well. Also under current laws in the UK the money does actually belong to you and if you leave the company you can take it with you along with the contributions from your employer after admin fees are deducted.
I think that financial compatibility is important not necessarily having similar funds but having similar ideas on handling money otherwise this could lead to serious disagreement later on. On the other hand it can be healthy to have slightly different views otherwise if both partners almost fear spending money you could end up never doing anything and not enjoying the fruits of your labour.
No I do not believe I will ever be a millionaire.
Dedicated to him, with love.
http://www.youtube.com/watch?v=NNL_wGZgV5Q&mode=related&search=
If I recall correctly John McDermott has just lost his own father when he sang this song.
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