1. Moving quickly through the financial update (because I don't want anyone paying too close attention!) my Christmas spending caught up with me. I added $792 to my outstanding indebtedness and am now back up over $90,000. But my promise to myself is that this is the last time I will have to say that. My plan is that every month from here on out will have some kind of a reduction. Let's hope Murphy isn't reading this blog!
2. I cancelled my US Bank credit card. I haven't used it in years so it's no big loss. US Bank apparently felt the same way because they sent me a letter saying that beginning in April, they were going to charge me an annual fee of $39. Hmm--I think NOT! There's never been a fee before and I don't intend to pay one now. When I called them to cancel, the sweet young thang who answered the phone didn't even try to talk me out of it. I guess the financially frugal are not part of US Bank's target consumer base. I'm curious to see if the cancellation will negatively impact my credit rating.
3. The November, 2011 US Housing Report came out. My city showed greater losses in housing values for October/November than almost any other urban area. Oddly, Detroit showed the largest uptick--I'm guessing because there wasn't much further for their values to fall. I occasionally go through the Detroit listings just to see the amazing values to be had in their market. In mine, sellers are holding onto their homes in hopes that prices will raise in the future, leaving foreclosures as the hottest part of our market.
4. January is the month I schedule all my health check-ups. All turned out well. I may not have much money, but at least I have my health. And my health insurance! I cannot stress too much how grateful I am to be fully covered by my employer. If there is one thing I think is wrong in this country (which I love dearly), it is the lack of universal health care. No one, at any income, should have to worry about the cost of taking care of their personal health.
Wednesday, February 1, 2012
Wednesday, January 18, 2012
Blogging, Books, Writing and Age
As longtime readers know, in my other other life (you know, the one apart from being mom to five adult kids, working full time and worrying about my finances if and when I ever get to retire) I love to read. Even more than that, I love to write, and I occasionally find a market for my science fiction short stories--not that I'm giving up my day job any time soon.
But my dream is to one day have a novel published. Over the years, that dream has gotten pushed farther and farther back, until now it is on my To Do list in retirement.
Which brings me to this list of late-blooming authors. For the longest time, I held onto Ursula Le Guin as a role model since she didn't start publishing science fiction until she was 37. But as my thirties (and forties) slipped by, I latched onto Harriet Doerr--not only was "Stones for Ibarra" a wonderful book, but the lady was 73 when it was published! Go Harriet!
It's not that I'm doing nothing right now to further that novel-writing dream. I've attended a monthly professional science fiction workshop for the past 30 years. I do write, albeit at an excruciatingly slow pace. I keep my hand in until life gives me some clear blocks of time to actively pursue this particular dream.
Oh, and I am constantly seduced by journals, blank books and the other accoutrements of writing. Which is probably why I like these blogs: "Notebook Stories" and "Make A Book A Day." (With regard to the latter, I am unfortunately NOT a crafty person. But I admire many of this blogger's products. Wouldn't it be fun to fill some of these blank books up with stories?)
Dreams are good. Keeping Harriet in mind, I've got another 11 years to achieve the reality.
But my dream is to one day have a novel published. Over the years, that dream has gotten pushed farther and farther back, until now it is on my To Do list in retirement.
Which brings me to this list of late-blooming authors. For the longest time, I held onto Ursula Le Guin as a role model since she didn't start publishing science fiction until she was 37. But as my thirties (and forties) slipped by, I latched onto Harriet Doerr--not only was "Stones for Ibarra" a wonderful book, but the lady was 73 when it was published! Go Harriet!
It's not that I'm doing nothing right now to further that novel-writing dream. I've attended a monthly professional science fiction workshop for the past 30 years. I do write, albeit at an excruciatingly slow pace. I keep my hand in until life gives me some clear blocks of time to actively pursue this particular dream.
Oh, and I am constantly seduced by journals, blank books and the other accoutrements of writing. Which is probably why I like these blogs: "Notebook Stories" and "Make A Book A Day." (With regard to the latter, I am unfortunately NOT a crafty person. But I admire many of this blogger's products. Wouldn't it be fun to fill some of these blank books up with stories?)
Dreams are good. Keeping Harriet in mind, I've got another 11 years to achieve the reality.
Thursday, January 12, 2012
Sometimes You Just Have to Hold Your Breath & Jump
I mentioned back in November that a friend of mine was moving her family to the Pacific NW from California and would be living with me while she looked for work and housing.
It worked out very well for both of us. She now has a job in her field, a house in my neighborhood, and a new lease on life. She's been working for the past month, and will move to the rental this coming week-end.
I bring up my friend's case because she has been talking about moving here for years. It took the loss of a job she'd held for more than twenty years in California to give her the impetus to finally move. In doing so, she left the city she'd been in for quarter of a century, the state where she was born and her family still lives, and her home which was underwater (and being short-saled). She brought with her two children who were not at all sure about their mother's new "whim."
But here they are, two months later, and everything is different.
After suffering a massive ego-tromping when she got fired, my friend wasn't even sure she'd be employable in her field. But this isn't California. People with her credentials and experience are harder to find here, and it helped that she was used to commuting in California traffic, such that a 20 minute drive to her new job didn't phase her. In fact, her new job, which was offered to her the same day she handed them her resume, makes even better use of her skills than the position she held for some twenty years. She's still learning the ropes, but she can already tell that this employment is less stressful and more fulfilling than her previous job.
She hasn't quite adjusted to the weather, though I keep telling her that one does get used to the rain. I haven't the heart to let her know that so far, this has been an especially dry winter.
But she's found the neighborhoods and schools more integrated (her children are African-American) and much safer than those she left behind. Even rent (which I consider outrageous) appears reasonable to her, based upon similar housing in California.
Right now, she trying out the local churches to see where her family fits in, and expanding her circle of friends beyond those two or three (including myself) she knew before she got here.
It took courage and a lot of planning to make such a drastic change in her life. It probably would not have happened had her job situation not been so traumatic.
But the real point of this story is that not every financial setback is a tragedy--with the right attitude and a willingness to take risks, it can be the start of something much brighter.
It worked out very well for both of us. She now has a job in her field, a house in my neighborhood, and a new lease on life. She's been working for the past month, and will move to the rental this coming week-end.
I bring up my friend's case because she has been talking about moving here for years. It took the loss of a job she'd held for more than twenty years in California to give her the impetus to finally move. In doing so, she left the city she'd been in for quarter of a century, the state where she was born and her family still lives, and her home which was underwater (and being short-saled). She brought with her two children who were not at all sure about their mother's new "whim."
But here they are, two months later, and everything is different.
After suffering a massive ego-tromping when she got fired, my friend wasn't even sure she'd be employable in her field. But this isn't California. People with her credentials and experience are harder to find here, and it helped that she was used to commuting in California traffic, such that a 20 minute drive to her new job didn't phase her. In fact, her new job, which was offered to her the same day she handed them her resume, makes even better use of her skills than the position she held for some twenty years. She's still learning the ropes, but she can already tell that this employment is less stressful and more fulfilling than her previous job.
She hasn't quite adjusted to the weather, though I keep telling her that one does get used to the rain. I haven't the heart to let her know that so far, this has been an especially dry winter.
But she's found the neighborhoods and schools more integrated (her children are African-American) and much safer than those she left behind. Even rent (which I consider outrageous) appears reasonable to her, based upon similar housing in California.
Right now, she trying out the local churches to see where her family fits in, and expanding her circle of friends beyond those two or three (including myself) she knew before she got here.
It took courage and a lot of planning to make such a drastic change in her life. It probably would not have happened had her job situation not been so traumatic.
But the real point of this story is that not every financial setback is a tragedy--with the right attitude and a willingness to take risks, it can be the start of something much brighter.
Monday, January 9, 2012
Fifteen Good Years?
I read this post from Super Saver with some consternation. Not to mention some recognition.
My father had a heart attack at age 58 and died from a stroke at 68. My mother died during heart bypass surgery at age 78. This does not bode well for Grace.
While I do think I take better care of my personal health than my parents did at this age, genetics can be a bummer.
Thanks Dad! Mom!
So thinking about the next fifteen years, maybe I should consider the possibility that they are the remaining 'good' years I have left.
Does that make a difference in my future financial plans? Right now, the plan is to get everything (residence, car, credit cards) paid off by (or, more likely, during) age 65, then spend four years saving for fun stuff like travel, and then retiring at age 69.
But would it make more sense to spend now for the things I want to do that will require relatively good health? I'd like to take a major car trip across the US--not so much to be outdoors (I don't like sunburns or mosquitos) but to spend time in all the cities I've missed: San Diego, Taos, Chicago, Philadelphia, Boston, New Orleans, to name just a few. Can I put that off for another 7 years or is the time to do it now?
If there's just 15 'good' years left, do I really want to spend half of them paying down debt or saving money? Would I really have to? If my last years of retirement are likely to be sedentary, and given that TV and the internet are not all that expensive, wouldn't that be the time to concentrate on debt reduction?
But I have no track record as a seer. I could get hit by a car tomorrow, or live into my '90's' (I'd say 'hundreds,' but I think that's pushing it!)
What I do have is anxiety. Letting my debt follow me into retirement produces more anxiety than I'm willing to have, particularly if those retirement daysare going to be among the best of my life.
I guess I'm stuck with just plugging away.
And pushing out the boundaries of that 'fifteen good years.'
My father had a heart attack at age 58 and died from a stroke at 68. My mother died during heart bypass surgery at age 78. This does not bode well for Grace.
While I do think I take better care of my personal health than my parents did at this age, genetics can be a bummer.
Thanks Dad! Mom!
So thinking about the next fifteen years, maybe I should consider the possibility that they are the remaining 'good' years I have left.
Does that make a difference in my future financial plans? Right now, the plan is to get everything (residence, car, credit cards) paid off by (or, more likely, during) age 65, then spend four years saving for fun stuff like travel, and then retiring at age 69.
But would it make more sense to spend now for the things I want to do that will require relatively good health? I'd like to take a major car trip across the US--not so much to be outdoors (I don't like sunburns or mosquitos) but to spend time in all the cities I've missed: San Diego, Taos, Chicago, Philadelphia, Boston, New Orleans, to name just a few. Can I put that off for another 7 years or is the time to do it now?
If there's just 15 'good' years left, do I really want to spend half of them paying down debt or saving money? Would I really have to? If my last years of retirement are likely to be sedentary, and given that TV and the internet are not all that expensive, wouldn't that be the time to concentrate on debt reduction?
But I have no track record as a seer. I could get hit by a car tomorrow, or live into my '90's' (I'd say 'hundreds,' but I think that's pushing it!)
What I do have is anxiety. Letting my debt follow me into retirement produces more anxiety than I'm willing to have, particularly if those retirement daysare going to be among the best of my life.
I guess I'm stuck with just plugging away.
And pushing out the boundaries of that 'fifteen good years.'
Tuesday, January 3, 2012
If You Could Hit the Reset Button
Bob Lowery, over at "Satisfying Retirement," has a most provocative post. What if you could do some parts of your life over? Would your choices be different the second time? Do you regret some of the decisions you made the first time around?
This particular exercise is only for those of us over fifty, because only then do we have the distance and experience to see the consequences of our earlier decisions.
Personally, I have often felt that I didn't so much make decisions as allow life to carry me along. I regret not taking charge a bit more.
But hey! Let's go way back. My first big regret is not paying closer attention to Tommy S. I took him to my 9th grade Sadie Hawkins Dance and he took me to the Sophomore prom. We were both losers who felt sorry for each other. Who knew he'd grow another foot and a half, clear up the acne, and start riding motorcycles in college?
I regret not working harder at writing science fiction--I've been in the same writer's workshop for thirty years. I've sold maybe twenty stories over that time while many of my fellow workshoppers have written books and some even make their living as writers. I keep thinking that I will write more NEXT year without realizing that NOW was the time.
I would love to go back and redo aspects of my parenting. I feel like my first two daughters had to grow up along with their mother. By child #5, I had a much better sense of what I was doing.
I wonder what my life might have been if I'd remained in New York City to practice my profession instead of returning to my hometown. I don't regret that choice so much as speculate about what might have been.
Then there's always the question of marriage. Would my life be more financially secure if I had married? Or would a divorce have cut even deeper into my finances? (Never mind that I cannot think of one person I've met with whom I'd really want to spend my life!)
Enough of my regrets.
Yours?
This particular exercise is only for those of us over fifty, because only then do we have the distance and experience to see the consequences of our earlier decisions.
Personally, I have often felt that I didn't so much make decisions as allow life to carry me along. I regret not taking charge a bit more.
But hey! Let's go way back. My first big regret is not paying closer attention to Tommy S. I took him to my 9th grade Sadie Hawkins Dance and he took me to the Sophomore prom. We were both losers who felt sorry for each other. Who knew he'd grow another foot and a half, clear up the acne, and start riding motorcycles in college?
I regret not working harder at writing science fiction--I've been in the same writer's workshop for thirty years. I've sold maybe twenty stories over that time while many of my fellow workshoppers have written books and some even make their living as writers. I keep thinking that I will write more NEXT year without realizing that NOW was the time.
I would love to go back and redo aspects of my parenting. I feel like my first two daughters had to grow up along with their mother. By child #5, I had a much better sense of what I was doing.
I wonder what my life might have been if I'd remained in New York City to practice my profession instead of returning to my hometown. I don't regret that choice so much as speculate about what might have been.
Then there's always the question of marriage. Would my life be more financially secure if I had married? Or would a divorce have cut even deeper into my finances? (Never mind that I cannot think of one person I've met with whom I'd really want to spend my life!)
Enough of my regrets.
Yours?
Saturday, December 31, 2011
The Old Year in Numbers
2011 is almost gone, so here's how it all wound up financially:
My overall debt decreased by $7,258 over the course of the past year.
My retirement funds in my 401(K)increased by $10,616.
My net worth decreased by $7648--a function of NW housing prices which have gone down steadily for the past two years. I'm not feeling too bad about this since I own my rental outright, and my current home will be paid off in 2.25 years. I'm still over the half-million mark which sounds fine to me.
I did not meet my 2011 goal which was a desired debt reduction of $10,000.
But hey! There's whole new year coming up!
New Year but same old goals because I am still determined to lower my debt by at least $10,000 a year.
My overall debt decreased by $7,258 over the course of the past year.
My retirement funds in my 401(K)increased by $10,616.
My net worth decreased by $7648--a function of NW housing prices which have gone down steadily for the past two years. I'm not feeling too bad about this since I own my rental outright, and my current home will be paid off in 2.25 years. I'm still over the half-million mark which sounds fine to me.
I did not meet my 2011 goal which was a desired debt reduction of $10,000.
But hey! There's whole new year coming up!
New Year but same old goals because I am still determined to lower my debt by at least $10,000 a year.
Tuesday, December 27, 2011
A Few Great Gifts
A funny thing happened on the way to Christmas Day--my sister and my friend/roommate of the past two months ganged up to buy me all the things they think my home is missing. Which is how I wound up with a full-length mirror (which I used to have before a running grandchild accidentally collided with it two years ago), silicone spoon rests (thereby retiring the pottery ones I got from my great-aunt thirty years ago that were shaped like apples, but the stems had all gotten broken), a new set of dishes (to replace the remains of four separate sets I'd acquired over the past twenty years), linen dish towels (because I think hand towels are uselessly small for the bath, so I hang them in my kitchen) and a set of silverware for 12 (Really? Silverware is supposed to match? Who knew!).
And then, my wonderful sister bought me three new bras. (Guys, you can skip this paragraph. The women know whereof I speak!) In 62 years, I've never actually had a fitting session before purchasing a bra. And I've certainly NEVER spent $65 for a bra. But my sister took me for just such a fitting, and in the package under the tree were THREE, count-em, THREE brand new, well-fitted bras. BTW, I read somewhere that most women wear bras that are one size too large around the back and one cup size too small--that turned out to be exactly true for Grace.
All in all, Grace did very well this Christmas.
I hope yours was good, too.
And then, my wonderful sister bought me three new bras. (Guys, you can skip this paragraph. The women know whereof I speak!) In 62 years, I've never actually had a fitting session before purchasing a bra. And I've certainly NEVER spent $65 for a bra. But my sister took me for just such a fitting, and in the package under the tree were THREE, count-em, THREE brand new, well-fitted bras. BTW, I read somewhere that most women wear bras that are one size too large around the back and one cup size too small--that turned out to be exactly true for Grace.
All in all, Grace did very well this Christmas.
I hope yours was good, too.
Saturday, December 24, 2011
God REST Ye Merry Grace
So much for plans to get all my shopping done ahead, and be ready for Christmas.
Here it is Christmas Eve and I still have shopping to do and presents to wrap.
I've been listening to Christmas carols and scrambling to clean house before the kids and grandkids descend upon me. Every time I hear "God Rest Ye Merry Gentlemen," I wonder where the 'rest' part will come in for me.
I'm thinking this month's financial report will not be good, but it will have to wait until I can breathe agains. Which, of course, is all too common with Christmas budgets--at the end, the budgeting goes out the window and I'm just trying to get everything done.
I hope you all have a peaceful Christmas and a financially better new year.
Here it is Christmas Eve and I still have shopping to do and presents to wrap.
I've been listening to Christmas carols and scrambling to clean house before the kids and grandkids descend upon me. Every time I hear "God Rest Ye Merry Gentlemen," I wonder where the 'rest' part will come in for me.
I'm thinking this month's financial report will not be good, but it will have to wait until I can breathe agains. Which, of course, is all too common with Christmas budgets--at the end, the budgeting goes out the window and I'm just trying to get everything done.
I hope you all have a peaceful Christmas and a financially better new year.
Wednesday, December 14, 2011
Grace: An Ungrateful Recipient
I started thinking about charitable giving in response to this post at "Grumpy Rumblings of the Untenured." Nicole and Maggie listed their favorite Christmas charities.
The point being, these were THEIR charities.
So far, so good.
Grace is not so much of a scrooge that she begrudges anyone for lobbying for their favored cause, especially at Christmas when pocketbooks are likely to be open.
But I draw the line at sending donations to MY charities in the name of other people to whom I feel obligated to give a gift.
Case in point: this year a relative of mine who usually sends small gifts to my family gave cards saying that she was not gifting this year. Instead, she made a donation on our behalf to a local animal-rescue project. Now there's nothing wrong with that particular charity; it does good work. But it is SO NOT a charity to which Grace would make a donation. (Sadly, Grace is a bit of a scrooge when it comes to animals--I don't have pets, don't want pets, and have never quite gotten the "dogs and cats are just like our children" people, even though I number those types among my friends.)
It doesn't feel like a gift at all. In fact, I would rather my relative had sent a card and said she wasn't sending gifts this year--given the economy, that would have been understandable. Instead she makes unwarranted assumptions about the charities I care to support. To put it another way, I wouldn't be making contributions to Planned Parenthood in the names of certain friends of mine who I know support Right To Life.
Nicole and Maggi think I should get over it--any donation beats an ugly sweater or a bath set. (I agree about the sweater, but I happen to like bath sets!)
The truth is, I won't confront my relative. I know she means well.
But, hey! This is what blogs are for. I can at least warn YOU about my feelings on the subject.
And I don't think I'm alone.
The point being, these were THEIR charities.
So far, so good.
Grace is not so much of a scrooge that she begrudges anyone for lobbying for their favored cause, especially at Christmas when pocketbooks are likely to be open.
But I draw the line at sending donations to MY charities in the name of other people to whom I feel obligated to give a gift.
Case in point: this year a relative of mine who usually sends small gifts to my family gave cards saying that she was not gifting this year. Instead, she made a donation on our behalf to a local animal-rescue project. Now there's nothing wrong with that particular charity; it does good work. But it is SO NOT a charity to which Grace would make a donation. (Sadly, Grace is a bit of a scrooge when it comes to animals--I don't have pets, don't want pets, and have never quite gotten the "dogs and cats are just like our children" people, even though I number those types among my friends.)
It doesn't feel like a gift at all. In fact, I would rather my relative had sent a card and said she wasn't sending gifts this year--given the economy, that would have been understandable. Instead she makes unwarranted assumptions about the charities I care to support. To put it another way, I wouldn't be making contributions to Planned Parenthood in the names of certain friends of mine who I know support Right To Life.
Nicole and Maggi think I should get over it--any donation beats an ugly sweater or a bath set. (I agree about the sweater, but I happen to like bath sets!)
The truth is, I won't confront my relative. I know she means well.
But, hey! This is what blogs are for. I can at least warn YOU about my feelings on the subject.
And I don't think I'm alone.
Monday, December 12, 2011
The Great Giftcard Controversy
A few years ago, I gave my sister a giftcard from Eddie Bauer. I knew she liked their products; I needed to find another $50 item for her; and my daughter who was working at Eddie Bauer for the Christmas season could use her 20% discount to get the card for me.
Win-Win, right?
Omigod! You would have thought I'd given my sister a lump of coal.
She let me know in no uncertain terms that a giftcard is thoughtless, a lazy shopper's way out and no way for loving sisters to exchange gifts.
So, lesson learned.
Except that this year, when I queried my children and grandchildren about gifts they'd like to see under the Christmas tree, a surprisingly large number WANTED gift cards--cards to Victoria's Secret, IKEA, Amazon.com, Starbuck's and Nordstrom's.
I can understand, given my somewhat eccentric tastes, why some of my family might NOT want Grace picking out individual gifts but cards bother me a little since it then becomes clear to everyone exactly how much I'm spending on them for Christmas.
Also, how many ways can one wrap a giftcard so that it is any kind of surprise?
Finally, I worry that some of my adult children will spend the giftcards for regular living expenses, not something special for Christmas.
But is that any of my business? If one of my daughters wants to use the giftcard for her boyfriend, should it matter to me? If one uses the giftcard for groceries instead of the clothes I wanted her to buy, what of it?
I'm not a person who particularly likes to shop. Giving giftcards makes it very easy for me, and in many ways, I appreciate that.
In the end, I probably will give cards to those who requested them.
But NOT to my sister!
NEVER again, to my sister!
Win-Win, right?
Omigod! You would have thought I'd given my sister a lump of coal.
She let me know in no uncertain terms that a giftcard is thoughtless, a lazy shopper's way out and no way for loving sisters to exchange gifts.
So, lesson learned.
Except that this year, when I queried my children and grandchildren about gifts they'd like to see under the Christmas tree, a surprisingly large number WANTED gift cards--cards to Victoria's Secret, IKEA, Amazon.com, Starbuck's and Nordstrom's.
I can understand, given my somewhat eccentric tastes, why some of my family might NOT want Grace picking out individual gifts but cards bother me a little since it then becomes clear to everyone exactly how much I'm spending on them for Christmas.
Also, how many ways can one wrap a giftcard so that it is any kind of surprise?
Finally, I worry that some of my adult children will spend the giftcards for regular living expenses, not something special for Christmas.
But is that any of my business? If one of my daughters wants to use the giftcard for her boyfriend, should it matter to me? If one uses the giftcard for groceries instead of the clothes I wanted her to buy, what of it?
I'm not a person who particularly likes to shop. Giving giftcards makes it very easy for me, and in many ways, I appreciate that.
In the end, I probably will give cards to those who requested them.
But NOT to my sister!
NEVER again, to my sister!
Wednesday, November 30, 2011
November Recap
OK--so far, so good for a start to the holiday season.
My total indebtedness has receded by $347.76 to $89,772.44. Not great (though I'm glad to get out of the 90 thousands into the 80's), but I'm not sure it will be even that good for December. Time (and Christmas) will tell.
In the meantime, having three new people living with me has meant increased utility costs but it's so nice to just hand over the bill and have my roommate pay her fair share. How come it never worked that way when my adult children lived here?
It's been easier and nicer than I thought to have my friend and her two children around the house. She cooks meals for her kids and includes me--I had forgotten that Diet Pepsi and nachos do not a meal make. How wonderful to come home to a warm home and a free meal.
Thanksgiving was the usual family madness but somewhat quieter than normal. My sister who lives in New York spent the week with me which is always fun. She comes with a list of restaurants she wants to try. Since it's at her expense, I joined her as much as possible.
We also got up at 5:00 a.m. to hit the local Black Friday half-price "socks and towels" sale. I don't get why people are proud of avoiding Black Friday, but then again, I don't get up at midnight to get the two flat-screen TV's some store is putting out either. Socks and towels are more my speed--no one is going to get killed over either of them.
Forward to Christmas!
My total indebtedness has receded by $347.76 to $89,772.44. Not great (though I'm glad to get out of the 90 thousands into the 80's), but I'm not sure it will be even that good for December. Time (and Christmas) will tell.
In the meantime, having three new people living with me has meant increased utility costs but it's so nice to just hand over the bill and have my roommate pay her fair share. How come it never worked that way when my adult children lived here?
It's been easier and nicer than I thought to have my friend and her two children around the house. She cooks meals for her kids and includes me--I had forgotten that Diet Pepsi and nachos do not a meal make. How wonderful to come home to a warm home and a free meal.
Thanksgiving was the usual family madness but somewhat quieter than normal. My sister who lives in New York spent the week with me which is always fun. She comes with a list of restaurants she wants to try. Since it's at her expense, I joined her as much as possible.
We also got up at 5:00 a.m. to hit the local Black Friday half-price "socks and towels" sale. I don't get why people are proud of avoiding Black Friday, but then again, I don't get up at midnight to get the two flat-screen TV's some store is putting out either. Socks and towels are more my speed--no one is going to get killed over either of them.
Forward to Christmas!
Tuesday, November 22, 2011
Holiday Black Hole
I was reminded by this post at Always the Planner about the week-long black hole that follows Thansksgiving and Christmas. For whatever reason, the intense build-up to each of those holidays makes me think that's when the month ends.
But no!
I still have another week to go, and invariably, I am already out of money.
I may be able to make changes prior to Christmas, but it's too late for November.
Notwithstanding the lack of funds, Thanksgiving is shaping up nicely. My sister flies in from New York today, and, as always, Grace is hosting Thanksgiving dinner. While I like my Christmas to be small, Thanksgiving is an 'all comers' affair with my children and grandchildren free to invite anyone they want.
I do have a bit of a scam going. I sigh mightily and say in a forlorn voice that I will handle the turkey, but that means the family must come up with all the sides and desserts. As any good cook knows (which lets out most of MY kids!) the turkey takes half an hour of furious work, and then hours of doing nothing much. But it's been years and no one has caught on to me yet.
I hope your holiday goes well. Happy Thanksgiving.
But no!
I still have another week to go, and invariably, I am already out of money.
I may be able to make changes prior to Christmas, but it's too late for November.
Notwithstanding the lack of funds, Thanksgiving is shaping up nicely. My sister flies in from New York today, and, as always, Grace is hosting Thanksgiving dinner. While I like my Christmas to be small, Thanksgiving is an 'all comers' affair with my children and grandchildren free to invite anyone they want.
I do have a bit of a scam going. I sigh mightily and say in a forlorn voice that I will handle the turkey, but that means the family must come up with all the sides and desserts. As any good cook knows (which lets out most of MY kids!) the turkey takes half an hour of furious work, and then hours of doing nothing much. But it's been years and no one has caught on to me yet.
I hope your holiday goes well. Happy Thanksgiving.
Tuesday, November 8, 2011
Ya think? Time to Rethink Retirement?
Thanks to Mark's post at his blog, Go To Retirement, I came across this article from Businss Week.
The point is how people are having to rethink their retirement strategies.
Working longer is the main one. Of course there's nothing to rethink for those of us who already planned to work longer. My current goal is 69, but I could hold out for a year beyond that. But even longer? Hey, I want to enjoy some level of retirement so I have NO plans to work past age 70.
What I found disconcerting was the suggestion to forego the 4% rule--you know, the rule where drawing 4% of one's investments per year guarantees that we won't outlive our money? Apparently that rule no longer applies and the authors suggest that 3% would be a better model.
And I don't know what to make of the suggestion that we stop saving towards our retirment and spend the money now on travel or other things we might otherwise put off to a time when we might wind up unable to actually accomplish them. I understand the point, but for those of us who didn't start to seriously save until we were 50, there's no way we can put those savings on hold.
"Rethinking" is giving Grace a major headache.
The point is how people are having to rethink their retirement strategies.
Working longer is the main one. Of course there's nothing to rethink for those of us who already planned to work longer. My current goal is 69, but I could hold out for a year beyond that. But even longer? Hey, I want to enjoy some level of retirement so I have NO plans to work past age 70.
What I found disconcerting was the suggestion to forego the 4% rule--you know, the rule where drawing 4% of one's investments per year guarantees that we won't outlive our money? Apparently that rule no longer applies and the authors suggest that 3% would be a better model.
And I don't know what to make of the suggestion that we stop saving towards our retirment and spend the money now on travel or other things we might otherwise put off to a time when we might wind up unable to actually accomplish them. I understand the point, but for those of us who didn't start to seriously save until we were 50, there's no way we can put those savings on hold.
"Rethinking" is giving Grace a major headache.
Sunday, November 6, 2011
The Dumpster
Here's the thing about dumpsters--they are such a great metaphor for any number of things. Life for one. If you're an optimist, you can see a massive clean-up as a good thing. Or, if you're a tad more cynical, you can think of the dumpster itself as life. While there is undeniable pleasure at simplifying one's life, there are also a lot of memories that wind up that huge metal can.
I thought I was going overboard when I got a 10-yard drop box--it holds 2000 pounds and it takes up most of my back yard. How would I ever fill it?
Fast forward two days, and that sucker is filled to the brim. Why exactly I was storing a broken pink desk is beyond me. Ditto the miscellaneous mattresses, all with various urine stains. And the two vacuum cleaners that throw sparks when turned on. Not to mention boxes of outdated clothing and toys, most of which wound up mildewed and were no longer usable.
Oh and then there's nearly 300 VHS tapes, which recycling centers no longer take--these were movies I copied, and since I mostly did that more than 20 years ago, the movies now resemble a Seurat painting--besides which I can't find my VHS player. But mixed among the home-videoed movies was the tape of my oldest daughter's wedding--it, too now just a mass of pixels.
A couple of my kids who were helping me clean things out got irritated when it turned out I had not taken close enough care of items they'd left behind as they moved into their adult lives. I don't recall promising to take care of their boxes, though I probably meant to. But a damp basement is a damp basement--and damage ensues. And when it does, into the dumptster the 'saved' items go.
So what am I learning from my dumpster? Cleaning house is every bit as hard as cleaning up one's finances.
I thought I was going overboard when I got a 10-yard drop box--it holds 2000 pounds and it takes up most of my back yard. How would I ever fill it?
Fast forward two days, and that sucker is filled to the brim. Why exactly I was storing a broken pink desk is beyond me. Ditto the miscellaneous mattresses, all with various urine stains. And the two vacuum cleaners that throw sparks when turned on. Not to mention boxes of outdated clothing and toys, most of which wound up mildewed and were no longer usable.
Oh and then there's nearly 300 VHS tapes, which recycling centers no longer take--these were movies I copied, and since I mostly did that more than 20 years ago, the movies now resemble a Seurat painting--besides which I can't find my VHS player. But mixed among the home-videoed movies was the tape of my oldest daughter's wedding--it, too now just a mass of pixels.
A couple of my kids who were helping me clean things out got irritated when it turned out I had not taken close enough care of items they'd left behind as they moved into their adult lives. I don't recall promising to take care of their boxes, though I probably meant to. But a damp basement is a damp basement--and damage ensues. And when it does, into the dumptster the 'saved' items go.
So what am I learning from my dumpster? Cleaning house is every bit as hard as cleaning up one's finances.
Friday, November 4, 2011
They are Coming
The 'They' in question are a good friend, her two children, and their two pets.
Where they are coming, is to my state and, specifically, to my home. Our agreement is for a maximum six-month stay--less if my friend finds a job and a rental before then.
My friend was terminated from her position with the state of California after 20+ years on the job. 20 of those years were without any complaints, but a single misstep that would have resulted in a reprimand in the past landed her without a job. To make it worse, the state has contested her Unemployment Compensation in an effort to stop her from getting any benefits. She's not alone--eleven people in her department were similarly and summarily dismissed.
So now she's making the move to the pacific northwest.
Overall, this should work to my financial benefit in that I will have someone reliable to share utility expenses and upkeep. (Fortunately, my friend does have a savings account to cover her bills while she looks for work. Also, since living expenses are considerably less in my state than in California, she doesn't need to find work that pays what she used to make.)
BUT, the preparations are expensive.
First, I had to clean house. Sounds easy, but in reality, it takes not only a lot of time, but I wound up renting a dumpster. Second, I had to make my basement habitable--which means painting, steam cleaning the carpets, and paying my adult kids to help me wash down the walls and move furniture.
Then I had to fix up my kitchen. The truth is, when it's just me, I don't cook all that much. But my friend is a good cook and her children are used to home-made meals. Again, I'm looking forward to this,but that means I have to take a look around my kitchen and get it back in shape for actual use.
Oh, and I had to get more heating oil. Does anyone besides me find $3.79 a gallon on the outrageous side? Gas prices are going down, but apparently the heating oil market has yet to notice.
The family arrives on Veteran's Day. I've got less than a week to be ready. Can I start tearing my hair out yet?
Where they are coming, is to my state and, specifically, to my home. Our agreement is for a maximum six-month stay--less if my friend finds a job and a rental before then.
My friend was terminated from her position with the state of California after 20+ years on the job. 20 of those years were without any complaints, but a single misstep that would have resulted in a reprimand in the past landed her without a job. To make it worse, the state has contested her Unemployment Compensation in an effort to stop her from getting any benefits. She's not alone--eleven people in her department were similarly and summarily dismissed.
So now she's making the move to the pacific northwest.
Overall, this should work to my financial benefit in that I will have someone reliable to share utility expenses and upkeep. (Fortunately, my friend does have a savings account to cover her bills while she looks for work. Also, since living expenses are considerably less in my state than in California, she doesn't need to find work that pays what she used to make.)
BUT, the preparations are expensive.
First, I had to clean house. Sounds easy, but in reality, it takes not only a lot of time, but I wound up renting a dumpster. Second, I had to make my basement habitable--which means painting, steam cleaning the carpets, and paying my adult kids to help me wash down the walls and move furniture.
Then I had to fix up my kitchen. The truth is, when it's just me, I don't cook all that much. But my friend is a good cook and her children are used to home-made meals. Again, I'm looking forward to this,but that means I have to take a look around my kitchen and get it back in shape for actual use.
Oh, and I had to get more heating oil. Does anyone besides me find $3.79 a gallon on the outrageous side? Gas prices are going down, but apparently the heating oil market has yet to notice.
The family arrives on Veteran's Day. I've got less than a week to be ready. Can I start tearing my hair out yet?
Friday, October 28, 2011
Punch Drunk Finances
I'm up!
I'm down!
Mostly, I am very, very confused.
My October update is good. I decreased my total indebtedness by $1,574.80. But since I had INCREASED my debt in September, the net decrease is not quite that high--$1141.80.
Still, I'm glad to be back on track and to have the debt once again heading downward.
It's been a roller coaster watching my retirement funds--up, down, up, down, down, down, and now in the last couple of days, on the way up again.
I moved a couple of credit card balances around when Chase Slate offered no-charge balance transfers, and a 3.99 interest rate for the next year and a quarter. I make sure that I never go over 50% of my credit limits on any one card. For reasons I don't quite understand (personally, I'd never lend to me!) most of my cards have limits of $15,000 or more. The good news is that now the card with the highest interest is only 8.95% and most of my debt is either still on the introductory zero-interest or 2.99% or 3.99%. More of my hard-earned money is going toward the debt, not the interest.
So much for October. November and December are always expensive months but I do have a Christmas fund, which, with any luck, will cover my holiday expenses and allow me to keep reducing my total debt.
I'm down!
Mostly, I am very, very confused.
My October update is good. I decreased my total indebtedness by $1,574.80. But since I had INCREASED my debt in September, the net decrease is not quite that high--$1141.80.
Still, I'm glad to be back on track and to have the debt once again heading downward.
It's been a roller coaster watching my retirement funds--up, down, up, down, down, down, and now in the last couple of days, on the way up again.
I moved a couple of credit card balances around when Chase Slate offered no-charge balance transfers, and a 3.99 interest rate for the next year and a quarter. I make sure that I never go over 50% of my credit limits on any one card. For reasons I don't quite understand (personally, I'd never lend to me!) most of my cards have limits of $15,000 or more. The good news is that now the card with the highest interest is only 8.95% and most of my debt is either still on the introductory zero-interest or 2.99% or 3.99%. More of my hard-earned money is going toward the debt, not the interest.
So much for October. November and December are always expensive months but I do have a Christmas fund, which, with any luck, will cover my holiday expenses and allow me to keep reducing my total debt.
Wednesday, October 19, 2011
A Drop in Lifestyle Is Not Necessarily A Drop Into Poverty
I'm feeling a tad unsympathetic.
A good friend of mine, who has been earning over $200,000 a year as the head of a public relations firm saw her business go belly up a couple of months ago when her two best clients decided they could no longer afford PR services.
So she's going from $200,000 to zero, right?
As it happens, not exactly.
She brushed off her resume and five weeks later, has landed a position in another firm.
BUT (trust me, this BUT is bigger for her than it is for me), the new job pays $115,000 per year.
She hasn't stopped whining about it since.
Hmm--but maybe she has a lot of debt? Maybe she can't afford a pay cut?
Guess again. She paid off her student loans years ago; her two sons are grown, educated and on their own; Her home is paid for (though her beach house isn't); So are her two vehicles. Not to mention retirement funds that are in excess of two million (except maybe in the last month).
So what is the problem?
It's her lifestyle.
It's a two hundred thousand dollars a year lifestyle and she's ticked off to think that she must now muddle through on a mere $115,000. It's not that she can't live without her personal trainer and her beach house and her part-time chef (I am NOT kidding!) but that she REALLY doesn't want to. And she resents that she will not end her career as the head of her own agency, but as the 'underpaid' employee of someone else.
We've had our "everyone loses in a recession" talks, but I'm not in mood to equate her circumstances with those of my more truly poverty-stricken clients, any five of whom would gladly share that $115,000 per year that she now finds insufficient.
I think what I most resent is the apocalyptic tenor of our conversations. She believes her life is over. I think it's just in for a downsizing. Actually, since she's just 54, I think she still has time to take over her new firm! And who knows how much she might be making then.
But in the meantime, can we just agree that though her income is greatly reduced, she is not exactly a baglady? Puhleeeeez!
A good friend of mine, who has been earning over $200,000 a year as the head of a public relations firm saw her business go belly up a couple of months ago when her two best clients decided they could no longer afford PR services.
So she's going from $200,000 to zero, right?
As it happens, not exactly.
She brushed off her resume and five weeks later, has landed a position in another firm.
BUT (trust me, this BUT is bigger for her than it is for me), the new job pays $115,000 per year.
She hasn't stopped whining about it since.
Hmm--but maybe she has a lot of debt? Maybe she can't afford a pay cut?
Guess again. She paid off her student loans years ago; her two sons are grown, educated and on their own; Her home is paid for (though her beach house isn't); So are her two vehicles. Not to mention retirement funds that are in excess of two million (except maybe in the last month).
So what is the problem?
It's her lifestyle.
It's a two hundred thousand dollars a year lifestyle and she's ticked off to think that she must now muddle through on a mere $115,000. It's not that she can't live without her personal trainer and her beach house and her part-time chef (I am NOT kidding!) but that she REALLY doesn't want to. And she resents that she will not end her career as the head of her own agency, but as the 'underpaid' employee of someone else.
We've had our "everyone loses in a recession" talks, but I'm not in mood to equate her circumstances with those of my more truly poverty-stricken clients, any five of whom would gladly share that $115,000 per year that she now finds insufficient.
I think what I most resent is the apocalyptic tenor of our conversations. She believes her life is over. I think it's just in for a downsizing. Actually, since she's just 54, I think she still has time to take over her new firm! And who knows how much she might be making then.
But in the meantime, can we just agree that though her income is greatly reduced, she is not exactly a baglady? Puhleeeeez!
Saturday, October 8, 2011
The REAL Way to Stick It To Bank Of America
I've been a Bank of America customer for over thirty years. It happened by accident, when I first opened a checking account as I headed off to college. That first account was at a local bank that got swallowed up by a regional bank that eventually was taken over by Bank of America. The names changed, but my account continued on.
When Bank of America announced they plan to charge $5 per month for debit card use beginning in early 2012, I figured our relationship was over--that I'd take my checking account, my two savings account and my credit card and go elsewhere.
For some reason, I thought that would show 'em!
But my retired banker sister has set me straight.
The truth is, Bank of America doesn't want me as a customer in the first place. I don't have $5000 in any of my accounts. In fact, I don't have $5000 even if you combine all three accounts. My mortgage is within 2.5 years of being paid off. More to the point, it's at a different bank. So that's the bottom line--Bank of America would be happy to see me go.
Forget that! I'm not in a mood to make Bank of America happy.
So--what to do?
It turns out the answer is easy. My account at Bank of America is free because I have a direct deposit from my employer made to it. I can continue that, but I can also easily transfer part of that money (the part that I refer to as my 'walking around money') to another bank--a credit union that does not plan to charge for debit card use. In the meantime, I can keep using the online bill pay that Bank of America provides for free, as well as the free savings accounts.
And if Bank of America doesn't like this?
Too bad. So sad.
I do recognize that some day the bank may figure out a way to get rid of me.
But that debit card charge won't be enough to do it.
When Bank of America announced they plan to charge $5 per month for debit card use beginning in early 2012, I figured our relationship was over--that I'd take my checking account, my two savings account and my credit card and go elsewhere.
For some reason, I thought that would show 'em!
But my retired banker sister has set me straight.
The truth is, Bank of America doesn't want me as a customer in the first place. I don't have $5000 in any of my accounts. In fact, I don't have $5000 even if you combine all three accounts. My mortgage is within 2.5 years of being paid off. More to the point, it's at a different bank. So that's the bottom line--Bank of America would be happy to see me go.
Forget that! I'm not in a mood to make Bank of America happy.
So--what to do?
It turns out the answer is easy. My account at Bank of America is free because I have a direct deposit from my employer made to it. I can continue that, but I can also easily transfer part of that money (the part that I refer to as my 'walking around money') to another bank--a credit union that does not plan to charge for debit card use. In the meantime, I can keep using the online bill pay that Bank of America provides for free, as well as the free savings accounts.
And if Bank of America doesn't like this?
Too bad. So sad.
I do recognize that some day the bank may figure out a way to get rid of me.
But that debit card charge won't be enough to do it.
Tuesday, October 4, 2011
Making Frugality Permanent. Or NOT.
Morrison at All Doors Considered has a post wherein she posits that our forced frugality of the moment may and should become a permanent mindset.
I'm not so sure about that.
I recently commented on of Sharon's posts in Musings of a Midlife Mom--telling her, quite accurately, that the moment I get my debts paid off, I intend to rehire a weekly housekeeper. Actually, I have a mental list of non-frugal items I intend to add back into my life, including two-ply toilet paper and non-generic English Muffins (Thomas, here I come!).
Some days, that list is what keeps me going.
Still, I expect that Morrison is right about some things--I don't see myself giving up the bargain hunting or the coupons. I've learned to rely on my local library for books, movies, and audio CD's. Even when I become able to purchase these items, for the sake of my very cluttered home, I don't plan to.
The biggest lesson I hope to take away is to stick with cash and give up the credit cards. Having been down the debt road for the majority of my working life, and now learning to live without it (OK, without incurring MORE of it), I see the ways in which I hope the new frugality becomes a permanent way of life.
I'm not so sure about that.
I recently commented on of Sharon's posts in Musings of a Midlife Mom--telling her, quite accurately, that the moment I get my debts paid off, I intend to rehire a weekly housekeeper. Actually, I have a mental list of non-frugal items I intend to add back into my life, including two-ply toilet paper and non-generic English Muffins (Thomas, here I come!).
Some days, that list is what keeps me going.
Still, I expect that Morrison is right about some things--I don't see myself giving up the bargain hunting or the coupons. I've learned to rely on my local library for books, movies, and audio CD's. Even when I become able to purchase these items, for the sake of my very cluttered home, I don't plan to.
The biggest lesson I hope to take away is to stick with cash and give up the credit cards. Having been down the debt road for the majority of my working life, and now learning to live without it (OK, without incurring MORE of it), I see the ways in which I hope the new frugality becomes a permanent way of life.
Sunday, October 2, 2011
Seniors, Health & Lessons to be Learned
It appears to me that when one reads about seniors and health, it's either dire (cancer, heart attacks, limited mobility and even more limited health coverage) or unealistically optimistic ("84-year-old climbs Mt. Everest"). I hardly ever see myself in these stories, even though I suspect I'm pretty normal when it comes to my health care needs.
I'm 62. I feel fine. I tend to rate my health as "good" but when I look at my health history, it may be that it is more in the "fair" range. I had a quadruple by-pass 2.5 years ago. I'm diabetic and have been for 12 years. The only reason I don't have high cholesterol or elevated blood pressure is that I religiously take medications that keep both within normal ranges. Ten months ago, I bowed to pressure from my nurse-practitioner and started to use insulin. It was a very good decision that has dramatically decreased my glucose levels, and, as it turned out, those who told me that the shots wouldn't physically hurt, were correct. That, too, is a good thing since I'm an utter weenie when it comes to injections.
I find myself surprised by those my age who are somehow proud of themselves for NOT taking cholesterol or blood pressure medications--as though admitting the need for them is, in itself, a failure. (Obviously, I'm talking about those of us who do have elevated numbers, not those fortunate enough not to need any medications.) This goes triple for diabetics moving from medications to insulin. I understand the latter since I, too, felt like taking insulin was an admission that I wasn't able to control my diet. Duh! I WASN'T able to control my diet. Call it what you will--lack of willpower, whatever. While I was ditzing around, promising to get my diet on track, my glucose numbers were ever-increasing. Insulin takes care of the problem. It could have taken care of the problem years before when the medications began to lose effectiveness (as they usually do after 6 to 8 years of use).
All of which leads me to Grace's Lesson for the Day--if what you're doing isn't working, FIND ANOTHER WAY!
I have a sneaking suspicion that this is a lesson that would work in my financial life as well as for my health.
I'm 62. I feel fine. I tend to rate my health as "good" but when I look at my health history, it may be that it is more in the "fair" range. I had a quadruple by-pass 2.5 years ago. I'm diabetic and have been for 12 years. The only reason I don't have high cholesterol or elevated blood pressure is that I religiously take medications that keep both within normal ranges. Ten months ago, I bowed to pressure from my nurse-practitioner and started to use insulin. It was a very good decision that has dramatically decreased my glucose levels, and, as it turned out, those who told me that the shots wouldn't physically hurt, were correct. That, too, is a good thing since I'm an utter weenie when it comes to injections.
I find myself surprised by those my age who are somehow proud of themselves for NOT taking cholesterol or blood pressure medications--as though admitting the need for them is, in itself, a failure. (Obviously, I'm talking about those of us who do have elevated numbers, not those fortunate enough not to need any medications.) This goes triple for diabetics moving from medications to insulin. I understand the latter since I, too, felt like taking insulin was an admission that I wasn't able to control my diet. Duh! I WASN'T able to control my diet. Call it what you will--lack of willpower, whatever. While I was ditzing around, promising to get my diet on track, my glucose numbers were ever-increasing. Insulin takes care of the problem. It could have taken care of the problem years before when the medications began to lose effectiveness (as they usually do after 6 to 8 years of use).
All of which leads me to Grace's Lesson for the Day--if what you're doing isn't working, FIND ANOTHER WAY!
I have a sneaking suspicion that this is a lesson that would work in my financial life as well as for my health.
Subscribe to:
Posts (Atom)
