Thursday, August 29, 2013

Uses of money


I'm surprised to find that as we approach retirement, we're edging into the comfortably well off range.  (I'll let you decide what is meant by that.)  I am surprised by this because neither of us has inherited money, and neither of us had a job that generated stockbroker-levels of income.  My parents both worked, as did my wife's parents; my family could be described as 'on the low end of the economic spectrum', while my wife's did a little better, but not amazingly so.  I attribute this edging that we're seeing to two things -- first, we're careful with money, and we've saved for a long time, and second, the stock market's done well over time.  (Ever notice that people such as stockbrokers never think it's a good time to sell?)

If we continue to be careful with money; if we don't get any nasty surprises of the medical type (well, any, really, but those are the big bugaboo); if the stock market doesn't plummet (which I think it will, actually, but I'm hoping not a lot) - we'll have enough so that we can  do some things we want to do -- fix up the house, travel, and, perhaps most importantly, transfer an appreciable amount of money to our child - without imperiling our future.

The house means things ranging from replace aging carpet to extend the deck and enclose the underdeck area to be storage - though things like build a new bedroom and install an elevator are possible, too.  The travel means , in my mind, France, though my wife would like to see Italy,  and there is a vague possibility of Australia (primarily driven by my brief visit there, years ago; lovely place.)   And the child part means give money to the child, to make her life a little easier, though when and how much is under review, you might say;  it varies depending on whether I'm feeling nervous about our future; sometimes it's enough to finish one full year at her college, and sometimes it's that, plus enough to buy a car.  On the one hand, we don't want to unnecessarily stiff her, so that she gets a pleasant surprise at our death, and almost immediately thinks they had this money and I still had to get a job in college?  On the other, we aren't of the assumption that we need to stiff ourselves, either; she can make her way, just as we did. 

4 comments:

Tabor said...

I feel helping children is important as it is more expensive these days, but I also feel making children work hard and learn about tough decisions is an even better gift.

Cerulean Bill said...

She's learned a little bit about that as a result of working this summer, but she's still got surprises ahead. She was astonished to discover what car insurance costs.

STAG said...

None of her business how much money you have or could have spend on her.

She is a grown up now. Same as you.

I guess I am saying "let go". But carefully.

Cerulean Bill said...

Well, it's a balancing act. We're not rich, and we don't feel the need to make her life easy. That way lies a spoiled brat. But easier? Yeah...if we can.