Agreed. Iinflation protection should be a basic part of any financial plan for anybody at any time. Better late than never. But I would not count on any "timing" strategy of shifting money around depending on the inflation statistics.
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
Many wealthy people are able to live a "simple" life without encumberances. Their money pays for other people to take care of the usual encumberances and protect them from the stresses that otherwise would make life complicated. I am not talking about people who have become wealthy because they have worked hard in business all their lives and profited from investments. They can be under a lot of stress. I mean peole with inherited wealth, the ones who never have to worry about working or investing or much of anything else except maybe hiring someone to take care of unpleasant tasks. I suspect the hippies with the back-to-nature life style on the farm or in the commune would really like to be one of those favored ones, but setttle for at least getting away from the rat race insofar as it is possible to do so with little or no money.
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
So the availability of affordable health insurance is your only criteria for quality of life?
-Will
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
I get John's point. One can burn through $10K's in the things he mentions, water/AC/rent, etc, and my comparison using median income is not quite apples to apples. While I have the option to liquidate and choose to live in the proverbial van by the river, that's not likely to happen, and I may not actually be living 100X the quality of life despite having 100X the income of the $850/yr world median person I reference.
Joe
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
Well, this has certainly gotten off the Inflation topic, but I'll chime in here and offer that even if you have health insurance but have no access to medical care, that health insurance is a waste of good money. The goat herder would be a prime example, but so, too, is the welfare recipient on medicaid who can't get to pre-natal care because the buses don't come anywhere near where she lives and she can't call a cab to get to the doctor because she has no phone. Financial planning, of course, does not exist for those so situated, inflation or not.
Elizabeth Richardson
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
That's not very rational. If you're not getting your money's worth, shouldn't you go where you will? I know that may not be possible for the goat herder, but I'm guessing it is for you.
-Will
william dot trice at ngc dot com
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
Of course you aren't. The theory of marginal utility says that the first bowl of ice cream tastes better than the second, which tastes better than the third.
But, so what? You are leading a much, much better life than our goat herding friend. Not necessarily happier, but better in every material regard. Try visiting the third world, especially outside the cities. No safe drinking water. A poor harvest means serious hunger. Medical care is a two day walk away. Electricity? You've got to be joking. People can't afford the fuel to boil the water to keep the kids from dying of dysentery.
When Warren Buffett is asked for the reasons for his success, he always starts out "I was born in the United States." I've been trying for a couple of days now to figure out how to reply to John's post and this is the mildest I've been able to manage. If you want appreciate what we've got, volunteer overseas for a third world relief agency. That'll work for sure.
-- Doug
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
Anyone who can afford a cab can have a phone. Get a Tracfone for $10 and about $7 to $8/month for service. No credit check required - you don't even have to identify yourself to the company.
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
Over snipped. She doesn't have to pay for the cab, medicaid will pay her transportation.
Elizabeth Richardson
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
Better yet, pre-paid phones can be got virtually for free. Sort of, it's about $20 for a phone with 20min, but more minutes can be purchased for as little as 10c/min.
HTH
-------------------------------------- Misc.invest.financial-plan is a moderated newsgroup where Moderators strive to keep the conversations on-topic for financial planning. Other posting guidelines include a request for brevity and another for trimming posts to which we respond. For all of the other tips and suggestions, see "FROM THE MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the Newsgroup.
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here.
All logos and trade names are the property of their respective owners.