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Is fun money a thing of the past?

Discussion in 'Off Topic Threads' started by senior smoke, Mar 8, 2013.

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  1. senior smoke

    senior smoke Well-Known Member

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    Hello:
    Being retired I am on a budget. I often wonder where does my fun money now go? In 1970, I shot roughly 1,000 targets per week, and that included tournaments on the weekends.

    Over the years my fun money allowance has steadily gone down as well as the number of targets I shoot and most weekends I now shoot the 30 bird event twice on Sunday which toals 60 targets per week.

    It is only natural that prices go up each year, but I often wonder if we are returning to the 1950's when most who worked and with familes were lucky to go out for dinner or a movie one time per month at best?

    I filled up my gas tank this morning for my car and paid $3.79.9 per gallon. And when I got home I found a bill stuffed in my mail box that showed that my oil company filled up my oil tank for my homes heat and that was $3.91 per gallon. The cost was $985.00.

    Is having fun money a thing of the past for most familes these days? Seems like a lot of people are just surviving to make ends meet. What do you think,is fun money for recreation type purposes a thing of the past for the average working man with a family today?
    Steve Balistreri
     
  2. RobertT

    RobertT Well-Known Member

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    I feel your pain, the price of fuel reflects in everything we do. Unlike the 50's, I don't believe the price of gas had as much impact on everyday living as today. Also unlike the 50's, fast food was a thing of the future. Family's generally stayed and played together, went to church on Sunday's and prayed together and most who chose to shoot or hunt need only hike a short distance to do so. Government was a lot smaller then as well.

    Robert
     
  3. Bluzman98

    Bluzman98 Member

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    The phrases for the different "types" of money classically were:

    "Today Money"- What one needed for day to day living pre-retirement.

    "Tomorrow Money"- Retirement monies.

    "Never Money"- Legacy money to be left to heirs.


    The latter two are dwindling into "Today Money" with "Never Money" being almost nonexistent for most.

    JMHO

    Jim C
     
  4. RobertT

    RobertT Well-Known Member

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    Steve, been around for a little while but the attached link may brighten your day.

    Robert
     
  5. dhip

    dhip Active Member

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    Well,I feel it also_Only been retired since 2001. Started driving School bus for my fun money.Last time I checked my budget,I now can't quit driving the bus because I need part of it to help with bills.Two other fellas I know were in the same business I was,only they were in management,one was a plant manager,he made the big bucks.He also said because of his medical costs,after 4yrs of driving school bus he is in same situation.In my own case,I still have a mortgage with four years left on it.I believe after it's paid things will clear up.However,I am forced to sign up for social security this year(62),which will limit my earnings,we'll see,might be 4yrs of belt tightening.

    Doug H.(pa)
     
  6. rpeerless

    rpeerless Well-Known Member

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    Read back a while ago that spendable income in the forties to late fifties was around 93% of income with only 7% in deductions. Figured out that's how our parents accomplished what they did. Power companies had off peak rates etc. Houses sold for around seven - eight thousand dollars. Waterfront was even cheaper. When I started driving gas was 28.9 per gallon with gas wars driving the price even cheaper. Wonder why you can never seem to get ahead?
     
  7. Joe Potosky

    Joe Potosky Well-Known Member

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    I would hope those in there 20's and 30s take note of this thread

    A good time for the younger crowd to make sure they are funding IRA accounts to the fullest and not "borrowing" money from the accounts to pay for kids schooling or to make a house payment.

    Downsize if you have to, but don't borrow from your retirement savings or you will be working until your 75 before you can retire....
     
  8. RWT

    RWT Well-Known Member

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    dhip,

    Doug, what did you do that you could retire at 50? Wish I could find one of those jobs.
     
  9. senior smoke

    senior smoke Well-Known Member

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    Robert:
    Thanks for the video, feeling better already.
    Steve
     
  10. RobertT

    RobertT Well-Known Member

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    APrice, kind of like making lemonade out of lemons. What did you get out of your load of crap besides bigger government.

    Robert
     
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  11. dhip

    dhip Active Member

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    RWT,

    I intentionally didn't list what I did because of the animosity towards unions on this site.Being you asked,I worked in the auto industry for 32 years,plant was in delaware,now gone,I retired 2yrs before they closed it and razed it for the University of Delaware.Other two fellas also were in that industry,both management,The one that was a plant manager worked for GM,the other worked at the same plant I did,Chrysler.Before anyone comments,I do agree unions have went south,one reason I retired was I became disenchanted with the union and thought it best to get out.If truth was to be told,the Delaware plant made the best product quality wise in the corporation,it was the Union that suggested the company shut our plant down.We were the first plant to build the Durango,we were told as long as there was a durango,Newark would run,they pulled an end around,quit production of the Durango for one year,that's when they shut Newark down.Once that was done,they started the Durango bak up in St. Louis ,I believe.Apparently having more members paying dues in the Midwest,was the tail behind it all for the Union behind closed doors suggesting to management to close Newark.As stated,one draw back to retiring early as I did,You HAVE to sign up for Social security at 62,your NOT allowed to wait until 66.

    Doug H.(pa)
     
  12. Bisi

    Bisi TS Member

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    Fun money?? Mine dried up a few years ago. When I was in my late 20s and early 30s I was jealous of people in their mid to late 50s. I figured they had it made, by that time they would have their houses paid for, they would be set in their jobs and could coast to retirement........Plus their health was good enough to enjoy things.

    Boy was I wrong. I'm there now (57) and things didn't turn out like I thought. Property taxes are now higher than mortgage payment was back then. Health insurance is higher than all other expenses, and the income? Well I made more in 1979 than I do now. I for one wish I could go back to the past when I had some "fun" money.

    For either good or bad, we have got more expenses than we had 25 years ago. 25 years ago I didn't have a cable TV bill, or an internet bill, or cell bill. I guess that used to be considered fun money, but in this day and age it seems to be a mandatory expense
     
  13. Blee450

    Blee450 TS Member

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    dhip, Why do you have to sign up for s.s. at 62? Was your pension being subsidized for the last 11/12 years with a percentage of what your s.s. benefit is going to be at age 62? Was it in the contract that you have to start collecting at 62 or is it that you just lose what the company has been subsidizing in place of your social security for the last 11/12 years goes away. NOT a union basher just curious. Minimum retirement age where I work is 60. Average years lived after retirement 4 to 5. No use waiting till 66 to sign up for full s.s. benefits.
     
  14. dhip

    dhip Active Member

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    Blee450,

    Part of the contract,if you retire early you have to sign up for S.S. at 62.There's what they call a suplemental part to the pension.It stops as soon as you sign up for S.S.Part of the 30yrs and out pension.I don't think New hires can get it now,not sure.With S.S. limiting you to $15,ooo earnings,it gets to be a tap dance until you turn 66.Make more than that and you have to pay back S.S...Personally,I think the Union ought to ge the company to allow us to keep collecting the full amount plus S.S.,but once your retired,they like to forget about ya.


    Doug H.(pa)
     
  15. bossbasl

    bossbasl Well-Known Member

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    The majority of folks entering or recently retired is that they never learned how to manage money for retirement. Instead, they believed the B.S. about Social Security Retirement taking care of most of their needs along with believing their 401(k) money (after virtually all defined benefit plans were eliminated) would do the rest. Then, after retirement, they rolled their 401(k) over to managed IRA or annuities as recommended by a "Financial Advisor" who screwed them severely and now find themselves (especially after the 2008 Great Recession) never able to recover. Lesson here is to learn about money early on, fund your own self directed retirement accounts that consistently earn 10-12% per year and you will have plenty in retirement. Lyle
     
  16. cnsane

    cnsane Member

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    Money is one of the easiest things to acquire--if you are willing to do what it takes. Work overtime and put it all on the Pass line to find out if God likes you that week. Take a 500 mile trip to a big city on the first Friday of the month and mug a crack dealer. The opportunities to acquire the worthless paper are myriad and about endless. You just have to be willing to do what it takes.

    But other posters have hit an important nail square on the head--a lot of people are too incompetent to handle cash. Case in point is every annoying m^#%f^*&er who writes a check for a convenience store purchase or those who put living expenses on a credit card and carry a balance.
     
  17. need to shoot more

    need to shoot more Active Member

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    I think APrice is correct, I was born in 64 and here is what I DID NOT have.
    cell phone,cable tv,computor,day care,viedo games, fast food ( only as a treat not on a regular basis ) I do remember my parents complaing about coffe and sugar prices and fuel oil to heat the home.

    I did sit in the gas lines with my Dad but it was not a price issue from what I rember? I do not think my Dad used credit cards if we needed money my Mom walked to the bank and withdrew what we had not borrowed.

    When I was little if I had 2 or 3 dollars on me that was a lot today I try to make sure my daughter has a 20 on her. No more penny candy its now a nickle or a dime. If you live with -in your means you can be ok the problem is minium wage is out paced most likely needs to be bumped or take a second job, I do.

    Jim
     
  18. Chichay

    Chichay TS Supporters TS Supporters

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    If you are on fixed income, it may be so. The devaluation of our currency is the cruelest "inflation" of all.
     
  19. One Eyed Left Handed

    One Eyed Left Handed TS Member

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    I'm a pretty lucky guy but helped create most of that luck. Raised three kids, all graduated from college with no debt. Wife and I both retired from State Government with descent pensions, me after 30 1/2 years credit at 46 years and 5 months old. Wife with 30 1/2 years credit at 48 years 6 months old. Were both able to draw approx. 68 % of pre-retirement income plus COLA raises and Retirement paid health insurance for the past 14 years plus.

    We also saved 15 % monthly religiously our entire work career. Accumulated and managed 9 rental units for 12 years before liquidating at retirement. Wife just started drawing SS at 62 in June and I'm 18 months from drawing.

    We've continued to live better as we've gotten older. Shoot all I want to, Travel anywhere we want including winter in Fla. I squeeze out my fun money by trying to get value for everything I buy. Still clip coupons and look for specials.

    Bottom line, I've been blessed and have more fun money left than I've probably got time. Dedication to saving early, often and without fail is the key. Time can't be made up!

    We put cash in a coffee can in the gun safe anytime we get a windfall. Tax returns, selling anything, gun trade profits, anything I win shooting, change in the bedside jar, Texas Hold Em winnings from the gun club- you name it! This stash normally funds anything we want to do. Also use loyalty clubs for lodging, frequent flyer miles thru AMEX and any other hook or discount I can get.

    Travel offseason almost exclusively, buy used instead of new on quickly depreciating purchases, only eat out lunch on the cheap (our one excess). We do buy new vehicles now but keep them 10 years average. Lots of tricks longterm to have fun money but it's all a trade-off.

    At 60, I have the money to do about anything a guy would want to do. Just don't need as much now to make me happy!
     
  20. 391 shooter

    391 shooter Well-Known Member

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    One eyed left handed

    How did you go to work for the state, any state, at the age of 16?
     
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