Thanks, I think I'm getting the picture now. I agree with your philosophy, calliope! I want to comment further, but it would be a bit of a tangent so perhaps I will start another thread. I can't until after I take a big exam tomorrow--this is a state licensure test which is grueling enough, but for me compounded by the testing center making a complete muck-up of my attempt to take it last week. I'm jittery about the exam content plus having to see and deal with those idiots (sorry, but really, it is warranted)--well, y'all can see I'm a tad stressed. Anyone with spare positive thoughts/good vibes/virtual sunflowers is very welcome to send them my way!

"Luck" is very often another word for "opportunity". Sometimes you are able to take advantage of it, and sometimes you aren't. It wasn't hard to make money - we're in our late 50's, double-income no kids Boomers, and own a paid-for home, two cars and little debt. But we've made very specific choices in life, some of which paid off (DH's defined benefit pension and retiree health benefits) and some of which didn't. Our overhead is still high - I cringed the last time I totaled up what we spend monthly on various insurance policies - but as I've often said, I was taught to view insurance as risk mitigation, so it's a necessity in our overall estate planning. We've done a lot better on our investments since I really started paying attention to investing and made an effort to learn about it. But when I look back, we left the portfolio unattended until almost too late in life. Fortunately, I picked up the interest in learning about investing before the dot-com bust. So when the bust happened, I didn't change a thing about the portfolio, because I'd learned that panic moves are what kill your ROI. Sure enough, the portfolio got back to even in 18 months and then took off from there. That taught me the value of dollar-cost averaging, too. stinkygdnr, I don't know what OJ would say about your home, but our home was underwater for almost 10 years. It was pretty painful, but we consoled ourselves that heck, we had to live somewhere no matter what. In the end values went higher, although of course they've dropped again this past year. But in the long run, a home usually gives you some appreciation. Plus you get a lot of incalculable enjoyment from living in a place you can remodel and change to your heart's content. We liked our home, didn't love it, until we finished all the landscaping. Then we fell in love with it, finding it a real joy to just sit in the garden in a recliner, reading a book and drinking homemade lemonade. Like I said on a different discussion forum, very often it's the simplest pleasures in life that are the best!

Hi Socks 1234 ... what was that other number, again, please? Many advisors suggest that as people get older, they should carry a smaller percentage of their assets in equities, where the values fluctuate substantially and concentrate more on investing where their principal is more secure, e.g. bonds, GICs. Trouble is - when you invest where your principal is guaranteed, there are two rats that eat your cheese. There's an entity that favours you with a question, each year ... and a statement. Regarding your annual income, ... "How much did you earn, last year?", and "We want part of it", ... ... are the messages that most of us get from the income tax people. And, if you invest your dollars where you want that touted guarantee that the number of invested dollars isn't going to shrink over the interim ... ... there's another guarantee that the folks who want to use your money (read "banks" or "bond issuers") never seem to mention ... ... the number of dollars of "principal" is "guaranteed" not to grow, either. So - since we've had to cope with inflation every year since the Great Depression of the 1930s, you need to take some of those dollars that they earned to put with the principal in order to preserve your purchasing power since the inflation rat nibbles off a corner of each of those "guaranteed" "principal" dollars every year. Know what? The rats eat first! You get what's left. Which in recent years has been very little ... if anything. I favour people, especially seniors, learning more about how money works, with a view to carrying a larger component of equity-based investments, where justified. I took the course that stockbrokers take (much more complex than the mutual fund guys need) and 6 courses leading to Chartered Financial Planner (passed only 5). Course revamped aiming at slightly different designation, Certified Financial Planner, I'd have needed to have started all over - at age 70 or so? I don't think so! I sold mutual funds (for a broker, so could offer a wider choice) for a short while, and for years have worked as a personal financial advisor, selling no products - no conflict of interest. Also, very few mutual fund managers justify their vaunted claim of more skillful money management, for they don't outperform the market averages. But in the U.S. they like to collect about a fifth or sixth of the average growth rate that the market produces, and in Canada about a fifth to a quarter of it. If individuals can develop the skills necessary, and the nerve to avoid getting upset if the market goes down some (i.e. sleep soundly at night at the time of a sliding market), they can usually produce a better result, long term, using a larger component of equities, I think. Maybe you noted a thread that I wrote here a few days ago asking that folks compare stock certificates (of one company) and rabbits for proliferation. I've written a number of threads on "Money Saving Tips", "Household Finance" and "Retirement" which will give you quite a bit of information about my approach to effective management of income and assets. If you have further questions, I'll be pleased to answer them. Good wishes to you and yours. ole joyful

No, I don't worry. We have never been ones to live beyond our means so it has made it much easier on retirement. We are totally debt free and don't live on charge cards. We have been married 42 years and had 3 kids. We knew from the beginning we needed to educate them for them to have a good start on life. We have always been willing to do without or wait until the money was available. I would do it all over again. About 20 years ago we bought a place in the southern part of our state as an investment. This has been nice. We enjoy going down but also know we could sell it if ever needed. I can say we are one of the lucky ones with hubby having a great retirement fund. I am grateful for this. Are we rich, no and very far from it but we have a great life with what we have. I know it is hard not to worry about things from time to time. Sometimes a person doesn't really have a choice. I have a couple single lady friends that I try to help from time to time with small things that do mean alot. I have an elderly lady down the road that appreciates such small things. I often take her food that I know she would not make for herself. One neighbor takes the daily newspaper to her when they are finished with it. Small things that really doesn't cost us a thing but is worth millions to them..