Posted on 07/06/2008 7:07:21 PM PDT by dynachrome
Carol Fisher thought she did everything right to prepare for retirement--and to live her dream of seeing the country from a recreational vehicle.
She and her husband, Larry, worked at the Naval Surface Warfare Center in Dahlgren. They planned to sell their log home in King George County after they retired and live off the interest, along with their pensions.
But when Larry Fisher died two years after the couple began traveling, Carol Fisher's dreams ended, too.
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She also had a decade-long spending spree, buying souvenirs from New York to Nova Scotia. When gas and grocery prices soared, she found herself deep in debt.
Fisher parked her 32-foot travel trailer because she can't afford to use it and hasn't been able to sell it. She and Haddick moved into a Fredericksburg apartment six months ago.
But because rents went up so much--like her credit card balances--during the years they traveled, the couple's income no longer covered expenses.
(Excerpt) Read more at fredericksburg.com ...
"He gets $17,000 a year in Social Security and free rent--the equivalent of $1,000 a month--for working at the apartment complex.
Fisher's income is even higher. She gets almost $29,000 a year from her late husband's pension. Her Social Security money is $7,000, less than average because she took an early-out deal."
They make dam' good money!
"
And I’ll bet she votes Democrat...
she’s 65...I don’t think she’s considered a boomer...
they live better than most working couples with children
She's not. I'm 63 and too old to be a "boomer"
I was born on June 29, 1945, too late to take part in the war in Europe............ but I was the copilot on the Enola Gay.
You know, most private sector employees don’t get any sort of guaranteed pension these days. Instead we’re forced to pay north of $12,000/year into SS with no guarantee of ever getting anything back. On top of that, we’re paying high taxes to fund early retirements for government employees at all levels. I just can’t gin up much sympathy for the people in these kind of stories.
I’m glad to hear she’s not complaining. The article tries to sound sympathetic but she is taking it in stride, it seems. Good on her. She’s lucky in many ways: she retired young, traveled for ten years, apparently had her health, doesn’t say anything about kids so perhaps she has none. These days it is foolish to count on perpetual good times. In the history of the world, prolonged peace and prosperity just isn’t very common. We post-war kids have been lucky in that sense but I don’t think the times will last. Unless we grab our gusto now and appreciate what we have and be sensible about how we use time and resources, we will regret it, I fear. Those who are placing all their eggs on some future retirement time may find that health or economic hard times or war has other plans for them. Be happy now. Enjoy your life now. Plan for the future but live for today. Keep your family close. Make up with those with whom you have disagreed. Treasure little things now. Tomorrow may not come.
I was in section D at Superbowl I, wasn’t that you selling IBM stock by the Cheese and Beer display?
In retirement, she was spending for today and not concerned about tomorrow. That is a losing combination.
“I was stupid. I know it,” Fisher said. “But I had 10 years of having a good time. I’m not sorry.”
We probably met at Woodstock.
“She and her husband, Larry, worked at the Naval Surface Warfare Center in Dahlgren.”
They had the discipline to keep their mouths shut after working at that facility for X # of years BUT didn’t have the self-control to keep her expenses down? hmmmmm....
She’s 65 and already has had a ten-year spending spree? This woman’s heading for life in cardboard box.
I was the waiter at the Last Supper.
I could be wrong, but it does seem there is a deep-seated expectation that one should be able to retire in style and comfort in America. That may work for some generations better than others, but all the trouble on our horizon threatens that tacit assumption of working/planning/retiring and controlling the outcome.
I think in the times to come those who can live light and stand deprivation will do well.
52K for two adults, plus free rent, is well above average income for a family of two.
Her problem is the spending spree and debt payments that resulted.
If your outgo exceeds your income, your upkeep will be your downfall. I think that’s Dave Ramsey.
Yeah. I’m a little confused why this “story” is news-worthy.
That diaper looks full. Did you “drop a bomb” over Hiroshima?
That there is a picture of one happy soldier with an accomplished mission. Congrats. (That stock did well BTW, thanks) :^)
Our government bought into Alan Greenspan’s Efficient Market Hyposis. That economic theory says you can self-perpetuate liquidity and service the debt forever.
But the theory had gaping holes and our recent economic pain is not surprising. Free market fundamentals will not be fooled, especially in a global market with quickly emerging markets.
This theory, applied over 15 years has failed. It is our leaders responsibility to attempt controlled economic experiments, not widespread theories that could bring down the nation. Alexander Hamilton wrote of such things as early as 1790 stating that when banking and government collude, Americans will wake up homeless and penniless. We have been here before in the 1929 and now we are here again.
Famalies like these and many others are in trouble, they bought into this, no different then the Roaring Twenties.
This is going to be rocky people. We’re going back to Save and Invest economy and the transition will shave off 20% off our GDP over four years. Some economic statiticians call that a depression... Those caught in the middle I do feel sorry for. I may have known the party was going to stop much earlier then most, but I did spend much time attempting to educate friends, family, government and business. No one wanted to hear it at the time, the party was just too fun. Keep in mind something. The Greatest Generation were partyers of the 1920’s. The came out on top and we had 50 years of great leadership afterwards. It is our time to do the heavy lifting. But shame on those at the top whom knew better and continued fleecing the population who didn’t know better these last two years!
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