| Fixed Incomes...
Posted: 10/10/2008 11:50:45 AM | GREAT ADVICE, Uncle Enrico!
I would add, that if several people get togther to buy "in quantity or bulk" at the stores recommended by Uncle Erico, that helps even more. If five people get together and split that 25 pound bag of rice, they get the same rice, at less cost! | |
|
| Fixed Incomes...
Posted: 10/10/2008 1:32:54 PM | The Dow fell again today. So, I went out and bought 80 more rolls of T. Paper at a cost of 15 cents per roll. I think I'm going to need it. | |
|
| Fixed Incomes...
Posted: 10/10/2008 1:38:46 PM | Fixed income????? What income???...... 
We are as close to another depression as we have ever been, and the only thing saving us from a total depression is the intervention from the federal government that was put in place after the last one.....
So much for deregulation........ 
Just my opinion........   | |
|
| Fixed Incomes...
Posted: 10/10/2008 6:27:58 PM | | Yes Deac, tis a scary situation indeed. Whatever happens in the U.S. is also sure to affect us Cannucks. We hope that after both the U.S. and Canadian elections have finished, maybe things will take a turn for the better. However, I don't really see that changing anything. Time to try and save all we can...and not in banks either. | |
|
| Fixed Incomes...
Posted: 10/11/2008 9:25:02 AM | a couple generations back it was common for multi generational families to live under the same roof. those days may be returning soon. in fact i would almost bet on it | |
|
| Fixed Incomes...
Posted: 10/11/2008 11:17:08 AM | I find myself living as a 'border' in a large and lovely home that the owner cannot afford to keep. He is divorced and has custody of a two year old. The other 'renter' is a 50 yr old divorced engineer who has incredible alimony payments and I am number 3. My small business that had 5-6 people (depending on the project) is down to me.
My teenaged sons have moved in with dad and his girlfriend-she has a home from husband number 3 of hers and fortunately she doesn't have too much of a problem with my ex's two sons (who I support with all their basic food, clothing and extras).
I have my stuff in storage and last week cleaning out old papers see that in th 90's I made three times what I have in the last 4 years-that is: I was the main corporate sales person and my ex and I started a business that did ok for about 15 years...the last 3 has seen us hiding cars from the repo man, laying off our employees and losing our home.
Thankfully, I have a teaching certificate and will start substitute teaching after next week. It will pay the bills but not much else.
This week we saw our remaining 401 /Roth money 1/2 in value and we are in our 50's.
My kids have told me that we are worth more dead than alive....A cheerful and truthful take on the state of affairs.
We all know that what we need is a Marshall Plan for here at home and to take a look at the reality that millions are faced with. My business group has a couple of financial planners/bank people who have said..'the end of 2010'--
so thanks for all of the coping suggestions that I saw in the previous messages.
m. | |
|
| Fixed Incomes...
Posted: 10/11/2008 11:44:03 AM | | As a history teacher it never ceases to amaze me how history repeats itself. What we are seeing is very much like the end of the 20's (known as the era of excess or roaring twenties) when things crashed. one thing though that most folks dont know is that it was not the stock market crash alone that caused the depression, but rather the fact that then (like now) credit became so tight that banks would not lend and when people went for their money banks went under. could the same thing happen again? if someone asked me that as recently as a month ago i would have said no. given the post depression banking regs that were present. however lets face it, the gov. is over in debt up to their eyeballs and they can only bail out these wall street types for so long. reagan, bush, bush and clinton all made the same huge mistake, using the financial sector and paper pushers and calling it prosperity. just like the presidents and congresses of the 20's looked the other way at things like buying on the margin, our current batch of leaders ignored warning signs, as did we when we went out and borrowed more than we could afford. now its time to pay the piper and i hope all of us got friends and family to pool resources, we are going to need it. | |
|
| Fixed Incomes...
Posted: 10/11/2008 2:55:58 PM | I will be on a pension plan next year,the good thing about it is every time the cost of living goes up so will my medical pension. The military does have some good points, glad I joined at 17. They say our pensions can't be touched,well we will have to wait and see just how bad things become.
I have never used credit that I could not pay off right away, that has definitely paid off over the years.
Just think you buy a pair of shoes for $100 and only pay the minimum,well that pair of shoes has now cost you over $400. | |
|
| Fixed Incomes...
Posted: 10/11/2008 3:14:14 PM | ^^ I agree. Pay off each month what is owed. Those that haven't... are in for some major problems real soon, if they aren't already deep in them now.
It has always been important to me to not have the 'worries' of growing debt. I'm so thankful I've lived without it! | |
|
| Fixed Incomes...
Posted: 10/11/2008 3:17:18 PM |
why is it that so many people are retiring long before 65? Voluntarily placings themselves in the 'fixed income' category?
because I was exhausted after 35 yrs of working and 22 of those taking care of elderly pension. My pension is also indexed and staying on wouldn't have made a lot of difference in what I received unless I planned to stay till I was 90 ( I would have been dead long before that). I actually have more take home pay than when I was working, I use less gas as I don't have to travel into work everyday, nor do I sneak down to the canteen for an expensive coffee when bored or for a lunch. LOL I make my own these days
I cut my cable back to just basic tv - brings the bill down by $49 a month
I quit smoking April 6, 2007 ,and according to my quit meter I have saved $7, 489.13
to date, (although where that went - I have no idea )
In April 09, I will lose the cell phone - I would have cancelled it earlier, but the penalty would be more than I am actually paying a month ...$31.02 monthly saved
Next year I will be making all my Christmas presents and have come up with a few good ideas for them - being crafty helps or just baking treats. Most of my friends are my age and have enough "stuff", so a gift card for Chapters or Home Depot etc and a tin of homemade cookies goes a long way and is useful.
I have 2 credit cards which I am paying down - a bad car and sick pets ran them up - all spare change goes there.
I allow myself 2 nights out a month - one costs me $10, the other costs me nothing. | |
|
| Fixed Incomes...
Posted: 10/11/2008 4:08:57 PM | Sometimes I'm not sure how, but thus far I've been able to keep going and live decently. I sold a larger place in an expensive area of MI and moved up here to north central MI that has an overall lower cost of living. My house is tiny, but so is the mortgage payment. My vehicle is large but the payment is small( like none)and I know it's full history. LOL. I have decent medical insurance,generally speaking. Wherever possible I've signed up for budget payment plans for utilities. I ditched my brand name cell phone when the contract ran out, and although my dialup internet is dirt slow, it's also dirt cheap. I have a grocery store, gas station, bank, hardware store all within a mile away, and I walk to church(it's right across the street). Probably my "indulgence",LOL, is gas to go places, visit friends,etc. I do not aspire to expensive vacations,I don't smoke or gamble, drink very little, have sources to find great bargains on clothes, household needs, etc. I have only one pet(cat) and( cross my fingers) he's pretty healthy. I don't have a lot of money in the bank but I get by.
Cindy O | |
|
| Fixed Incomes...
Posted: 10/11/2008 4:36:06 PM | "now its time to pay the piper and i hope all of us got friends and family to pool resources, we are going to need it. "
I was laid-off back in June, so my Dad moved in with me to help pay the bills. I feel very fortuante to have him. I went back to work in August and am actually making more money, but I like the security of my Dad being here, he seems happier too. I'm trying to save as much as I can, I'd like to pay my house off, my car is already paid for and I plan on keeping it as long as I can. Who know what the future holds.... | |
|
Home
login 
