Do you feel financially secure?
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Anonymous
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I'm poor, actually super poor, but don't' really worry about money.I'm planning to move to my farm abroad-plenty of cheap organic food there.Rental income from condo here, Roth IRA and later on social security should go long way.
Really don't want to stay in DC. Luckily, the place to where I want to retire is fairly cheap. |
Anonymous
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I think we all worry about money to some extent. I worry about retirement frequently and how I'm going to pay for everything. For most of us, there will never be enough. There are so many factors that you have no control over...the stock market, real estate prices, health care costs, long term care, your children, college costs, social security. I'd like to say that $XXX will be enough and when I've saved up that much I'll stop worrying, but the truth is I won't stop worrying.
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Anonymous
That's the point-- the OP's problem is an anxiety issue not a financial issue, and it may be that serving other and practicing some gratitude would help. |
Anonymous
Just curious if you're willing to share...how old are you and is your $1M less primary residence yours alone or is it a combined number with what your spouse has also saved? |
Anonymous
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No. In 2005 we were worth just under a million on paper and I felt optimistic but not secure. Then the real estate market tanked and 2008 screwed our investments and life happened. Now we're back up above a half million in investments, but it's been a slow climb and the cushion we had in the checking account is gone. Our house isn't worth much, either.
I'm actively looking for freelance work on top of my full time job, and all my husband does is send me e-mails via Mint freaking out about cash flow. We can pay all our bills, so I know we are very fortunate. Do we feel secure? Not so much. |
Anonymous
Personal experiences matter. Like pp, if you had $1M in 2008 and today are still climbing back to $halfM (due to market, real estate, unemployment, bad luck) then you may feel differently from those who never had $halfM. |
Anonymous
+1 It is pathological around here. It only feeds itself. Sometimes coming to this forum is like looking at lots of magazines with pictures of anorexic women and then feeling fat. And then a realize that I should just do the best I can and live my life. I save what I can, try to live low key, et cetera. But people are ridiculous. And this obsession with retirement also kind of starts to bother me. Most of the people I know died not long after they retired. And of course, all I could think was, "I wonder how much time they spent dwelling on their retirement." |
Anonymous
| The stock market is 25% over where it was in pre-2008, and more than double where it was in 2008. If you can't handle the volatility then put your money in a more conservative investment and/or turn off the tv, but that still doesn't make you financially insecure. |
Anonymous
| i am not planning to retire so don't give a shit and am happy |
Anonymous
| I love how people always assume that posters with these issues should just volunteer more. How do you know they don't? |
Anonymous
| We have 2M and I don't feel secure. I'm not pathological but like OP I realize everything is a house of cards. Most is tied in house/investments. Take out house/ college savings we have 1.2M which is only 50k per year at 4 percent withdrawal rate... If the stock market declines by 50 percent that's 25k per year. We have no pensions and social security will be broke by the time we retire. We are 45. |
Anonymous
Do you just assume you will never develop health issues? |
Anonymous
OP here: I am 40 with one child. Widowed three years ago - half the net worth is due to life insurance. It was not really adequate to replace my husband's earning power but I am very grateful to have it. I suppose some people have nailed it - this is an anxiety issue. I already know that the worst can happen, because it did. Now I am the sole provider for a small child and have college, mortgage, and retirement on my shoulders alone. If I lose my job and can't replace it at the same level, or if we have a major medical emergency, or if the stock market tanks, the whole house of cards could fall down very quickly. |
Anonymous
| I worry, but I have a disability and recently lost my job and am single. I also do not have kids so I worry about what old age will be like. If I was employed And healthy i would not be worried |
Anonymous
| And I hope lots of the pps feel like the idiots they are. |