TexasMadMan

If more people had been frugal over the last 10 years, I assure you there would not be so many houses that have been foreclosed on.

I've been frugal, prepared for my future, and have a decent paid for car and house.

Dave Ramsey would be proud of me.

for those interested, I opened my first IRA in 1978.

Vette Suspension

Maybe...But you would think 10% unemployment has something to do with the foreclosure rate along with the disastrous failure in Washington this year. Expect 2010 to be even worse with rising taxes, inflation and, the weak dollar.

The NNIAL8R

Yep...I worked with a guy for 30 years...Great guy ....EXCELLENT cop ...he was eligibile to retire at 55...but wanted to have $1 MILL in his retirement before he pulled the plug...He worked another 8 years til age 63...got his mill ....I MC'd his retirement party in May 2007....He was diagnosed with lung cancer in January 2009...I was one of the pallbearers at his funeral in May 2009
I assure you when I hit 55 in three years Im OUTTA there!!!...I wont have a mill...but close enough..

RIP JV

TexasMadMan

VetteSuspension:

Yes, I'm sure 10% unemployment has added to the foreclosure rate, but if everyone had the recommended 8 months of emergency funds socked away, I bet the foreclosure rate would be less.

Let's be honest. Many people that got into houses didn't have the funds to do so. As many of them stopped paying on their houses, that started the ripple that helped get us where we are today.

Vette Suspension

On that.

The NNIAL8R

You mentioned earlier that you are 59 and never had kids...I would hope to HELL you had a decent car and house (paid for) at this point in your life ...

Im 52...I have two adult sons...(24 & 20)...I cant begin to add up their expenses over the years...(still paying half my youngest's college expenses)..but I assure you it's gotta be close to $250K when it's said and done for the both of them from birth til age 21.....When I retire in three years my house and C6Z will be paid for...All my other stuff is already paid for...Dont really care if Dave Ramsey is proud of me or not.. Im pretty damn proud of me

6spdgs

Have excess $$$ each month, no mortgage and no car payment, 2010 GS. Pay cash/ my 5 yr old grandson say's it best CASH IS KING.

Deep Silver C6 Z51

Stay with your plan.

There is more than one way to get to that place called "happiness."

Max EPR

Interesting responses posted here. Now mine:

Do as you see fit for yourself. We all have our lessons to learn and one way or another we will either learn them or they will continue to intrude upon our life until we do so.

Personally, I don't like car payments.

Vette Suspension

Not certain if this was supposed to turn into a session in which members toot their own horn financially.

Boasting is a unattractive quality especially this time of year.

TexasMadMan

I don't consider it boasting. I consider it sharing my life experience. I've known a couple of people who 30 years ago I suggested they start an IRA to prepare for their future. Both told me they needed to do that and they would when they had a little extra cash. Guess what? They never got around to it and they are in their 50s now.

Am I boasting to say I started investing in my future over 30 years ago? BTW, I worked in a profession that didn't have retirement in those days. There wasn't anyone other than myself going to take care of me, unless you want to step up and do it.

Rocketmanwpb

I have a lot of cash each month, but never enough extra!

Mayonayze

really? so i can stop paying my social security now? if you dont need it, and i wont be getting it in 30 years when i retire, then why the F am i still getting raped for it in every paycheck? go ahead and tell your congressman that you dont need a social security check anymore. my current paycheck would appreciate it

EDIT: dood, your secret's out!!!! post 115!!!

lh4x4

Call Suzie Orman. But based on what you posted---Denied.

lh4x4

I never saved for retirement. I spent my income as I received it. Changed jobs every three to five years out of interest and careers.

I retired at 61 eight years ago and am living large off SS.

I know how to maximize those checks.

Kenboy

Since you dont care for the C6 coupes and you have the means, go ahead and buy the GS new. You worked your *** off, you deserve it. You live within your means. Get 0% financing or a home equity loan. Don't pay down your mortgage. As others have said, fully fund your retirement.

best, Ken .... 2008 Coupe

Vette Suspension

I certainly was not referring to your post in any way, shape, or form.

It is evident which members have a need to boast.

The NNIAL8R

I dont like car payments either...but Ive had one since I was 16 years old ...I think sometimes it gives me an incentive to get up and go to work every day

What I dont understand is someone that pays $50K for a car...drives it a few years then trades it in (taking a MASSIVE hit) on another $50+K car

Right now the C5 market is in the chitter...it's one reason I decided to keep both my 99s (coupe & convertible) rather than trade them in when I bought my C6Z....There was NO WAY I was going to let those cars go at those prices ...I'll drive 'em into the ground first

The NNIAL8R

Meh, this is a Corvette Forum...Everyone here boasts to one degree or another.....Like Paul Scarpelli says...."If you really did it, it aint braggin' "

vettnut69

Extra Cash?????? Retired at 55 so the only extra cash in this house is my wife's and she won't say..