I Need Safe, Dependable Income I Can Count On!
Guest Post by Dennis Miller at Miller On The Money
Our recent article, “In Government We Trust??”, struck a nerve with many readers.
Subscriber Dan H. shared a graph, stating, “This is the only graph you need”.
This isn’t just the US. Urs Vrijhof-Droese recently provided his international perspective:
“Realistically, we are moving back to where everyone was responsible for their well-being throughout their life, including retirement. I would not trust the government’s social system too much.”
OK, easy to say, we need to be self-sufficient, live within our means, save our money and provide for our own retirement. Safe fixed-income investments don’t come close to beating inflation, and the stock market is risky. In a fit of frustration, a friend recently exclaimed, “I need safe, dependable income I can count on!”
The goal?
A successful retirement plan provides ample income to live a reasonable lifestyle, without having to constantly worry about money.
Finding safe, inflation-beating returns, and being able to sleep well at night is a huge challenge in today’s world.
Urs discussed using different currencies to invest internationally in solid dividend-paying companies. The combination of dividends and currency appreciation versus the USD can beat inflation.
When I was younger, I used to think that I needed lots of money. The older I get, the more I realized, that while yes, I do need money, the more important thing is to eliminate expenses. Specifically have NO DEBT, ie no mortgage, no car payment, no credit card debt, etc. Secondly have non-financial sources of income, ie a garden, an orchard, a chicken coop, solar panels to limit the electric bill (depending on your point of view), etc. Once those things are in place, then focus on things that give reliable steady income.
Scaling down is a good idea IMO before one approaches the age that the body parts get funky like why has one ankle ached for two days causing me to limp? I don’t have diabetes. Don’t recall spraining it. Arthritis? 🙂
I saw the writing on the wall in 2002 being out sourced and no longer a railroad employee. Certainly disappointing. Spend an adequate amount of years employed as such and wa-la, the goose that laid the golden egg of retirement. I was amazed the railroad retirement packages those that had been around were anticipating not to mention some lagniappe from the company itself as in pension plan, not to mention 401k. But is it safe? I was willing to take a chance until they advised my paycheck will now come from someone else.
Ah well, somehow things work out. How safe? Anybody’s guess. At least I’m not in need of .22 ammo now.
Hey General, “the more important thing is to eliminate expenses.”
I agree completely, and it is working for me. Wife and I have been retired just over five years so far. Moved to a very rural area with low costs, good neighbors, small town government, room for a garden and fruit trees. Look also for lots of churches per capita, even if you are not religious yourself. They are a good marker for desirable social norms. Low percentage of POC is important also. House paid. Cars paid. As much as practical keep simple tastes and pay any new bills as soon as they come in. If you need something and you can’t pay for it RIGHT NOW, you may want to wait to get it. Don’t get nickel and dimed by recurring monthly costs.
How is it working? Well enough that we can afford to donate generously to LOCAL causes and charities. Invest in your community.
Guess it depends on where one is located on the small town government subject. This county is notorious for outlaws including those within small town governments. If you live where everything like local business is not controlled by a few you did well. Lots of churches around here but, beer and wine sales now occur where they have not ever legally. Some of the churches were upset but all they did was put up signs against. It did take three votes before the outlaws git it through in one local community. The others in the vicinity only two. One of the county property tax assessors told me they need the income from somewhere as in beer and wine taxes.
There are a ton of churches here and these people are miserable to be around. Give me irreligious hillbillies or people so extreme that no church is good enough for them, any day.
My experience is the opposite with regards to the people. We have 3 churches on our gravel road.
My top 3 supplement recommendations for joint pain are Boron, Selenium, Vitamin C.
Having a credit card isn’t a bad thing in and of itself and is a necessity in some cases like car rental and hotel rooms. You just pay off the balance every month.
All things in moderation is what I’ve heard. Yep, keep tabs on what goes on those cards so the monthly statement can be paid in full. Guess its called budgeting. I’ve said before the rates charged is insanity and those that promote those rates should be placed in front of a firing squad.
I have no issues with cards. Sure I could do the impulse buying thing and buy all kinds of crap. I don’t so for me despite my disdain for highway robbery via the interest rates the cards work for me. I simply don’t carry a lot of cash. In fact , checking the billfold now there are three Benjamins in it.
yeah, had I been thinking right. I would have bought some small farm instead of rebuilding a damn old sportscar.
did manage to keep a lot of the tools though and still somewhat able to do a few things.
but all that changed when my back went out bigtime. most of the retirement money went to paying hospital bills and keeping a roof over my head. hindsight is a wonderful thing. but the less you need from the world the better off
you will be. get out of debit. burn any credit card apps you get in the mail. keep your old truck/car running as long as you can. grow as much of your food as you can. chickens are great to have as well.
funny thing, they can’t tax your ass for what you grow and eat. barter is KING.
just wish I learned this earlier in life. a bit too old and banged up to do a lot now.
although I did manage to teach this lesson to some much younger guys who are doing well now.
Andrew Torba….
The Neo-Amish Movement: How To Preserve Tradition in a Technological World
Our third child was born about five weeks ago and we felt it was time to get out of the house and do something fun with the kids before summer passed us by. So we got in the car and headed to Lancaster, PA or as many call it “Amish Country.” Growing up Lancaster was a spot we visited often as kids. I have great memories myself from those visits and wanted to give my kids those same memories this summer. It was also a refreshing and inspiring look at what is possible with a homogenous traditional Christian culture and society…
The Amish community, known for their simple and self-sustaining way of life, has long fascinated those like me who are seeking a deeper connection with tradition and nature. Many people wrongly believe that the Amish swore off “all technology,” but this couldn’t be further from the truth. The Amish certainly use technology. A wagon is technology. A plow is technology. We may consider these to be “outdated” tech, but they are still technology nonetheless.
These technologies are viewed as practical tools that enhance their self-sufficiency, yet they consciously draw the line at adopting more complex and potentially disruptive advancements. At some point in time a few hundred years ago the Amish decided that they weren’t going to adopt technology beyond its existing state. It’s admirable and honorable that they have been able to hold to this decision, cultural tradition and way of life. I think there’s a lot we can learn from them as we reach a point with technological “progress” now that is going to start eroding our very humanity…
I often ponder the possibility of a Neo-Amish movement, where individuals embrace a deliberate halt in technological progress beyond a specific point, opting to resist certain advancements in the pursuit of a more balanced existence. This doesn’t mean we all become farmers and get rid of our cars and electricity, but rather that we place a firm line in the sand with technological advancement amidst the rise of the transhumanism agenda.
Drawing inspiration from the Amish way of life, the concept of a Neo-Amish movement emerges. This movement argues for a deliberate halt in technological progress beyond a specific point to ensure the preservation of core human values and prevent potential societal upheaval. The Neo-Amish movement encourages critical evaluation and resistance against technologies perceived as encroaching upon fundamental aspects of human experience, autonomy, and privacy.
https://news.gab.com/2023/07/the-neo-amish-movement-how-to-preserve-tradition-in-a-technological-world/
Keeping older vehicles maintained pays off. My 289K PU with original engine (no big deal) is retired to around 3000 miles per year now. I swear though every time I drive it it feels new to me. Amazing. Could use those expensive shock absorber systems that were prominent by 2002 all the way around but for the cost of a grand not necessary right now if ever.
BTW, I stopped those credit card apps and all other garbage like that for the most part. There is some entity one can write I forget who that does eliminate that stuff. Takes a few more solicitations in the snail mail before completely stopped but much better. The insurance agencies use to bug me constantly with snail mail. Local stuff like hair brained republicans that are certain you want to read their crap, I’m looking into that but it seems if you are on the property tax rolls or even cast one single vote they get you. Ridiculous.
What difference does it make you are never free from the prison of debt and taxation. You may think you are if you pay off your debts but you still need FRNS to exchange, if you get sick and need healthcare or God forbid nursing or assisted living they will steal everything you have. Then when the shit shows over you have to pay for your corpses final disposition. We’re all fucking slaves regardless if you own a farm, or have no debt.
First of all, that is a defeatist attitude. Two, you don’t need debt at all. Three, while you may need FRNs in the US, there are many things to do in the US to limit it to a bare minimum and still have a great quality of life with much more peace of mind. And four, put your assets in a trust. Then the healthcare mafia can’t steal everything you own.
Nothing is safe and dependable including my garden. So far , so good, for the most part.
Money, a PITA for some. What tickles me are the goofy articles on financial sites someone (supposedly) is asking advice.
“I’m 61 and got laid off. I have $550,000 cash. Should I retire?”
“My husband is still working at 70 making $250,000 a year plus bonuses. I’m retired drawing SS and a $30,000 per year pension. We have $1.5 M in cash, gold, silver and stocks. Can we retire? Our home is paid for. We are very worried if our assets and investments are safe.”
You need dependable income? Have you considered marrying a man?
If you need Money so badly, it is your God.
You want to be bound by the fictional concept that a piece of linen has value, it is your god.
The Christ Figure spoke against it.
the Christ figure spoke about Charity in everything we do.
We are a slave to Money.
We have to change our way of thinking.
What’s a “Christ figure?” One of those plastic Jesus dashboard thingys?
People will when they are dead. Just saying…