@arabrab, I would prefer CA but ShawWife wants to spend at least half the year on the East. I suspect we will have the opportunity to buy the houseboat we rent. Will have to think about that.
We have some cash in callable municipal bonds, I believe, that provide pretty good short-term income (by current standards). I’ve outsourced part of my life so I’m not 100% sure without going online to look up yields. I haven’t done so in a big way, but Canada’s economy is pretty well-run but cheap as it is highly dependent on commodities, which are very low. I believe I still have a meaningful portfolio of dividend oriented stocks and a bunch of gold.
@SOS, we have a Jennair range with a downdraft, it’s been dying at least 5 years (oven turns off, igniters all broken, burner seals blown, etc at 12 years old I am replacing it with something other than Jenn air, they now have other downdrafts available to put behind ranges. I was going to just modify the cabinets, but the bids to build a new island are quite close to the modification ones once you factor in all the labor. Still talking to the cabinet guys with the final details. I hate that I have been waiting 5 years to do this and now everyone is so busy it’s hard to get call backs.
After the past 2 weeks our cash reserves have taken a little hit. First the lawnmower at the lake died and we bought a new one. Then the motor on the old pontoon died and the marina said don’t put any more money in it so we bought a new pontoon. Then 3 days later the motor on our speed boat locked up so it is being assessed at the moment. H lost the key in the lake while he was trying to figure out what was wrong with it. Then we came home to find out the motor on our hot tub was out! It can only get better, right???
@NorthMinnesota If misery loves company, I feel ya. We’ve had several $1,000+ things crop up unexpectedly with the house in the past month. Not fun things to spend money on. :-<
Same with us, it’s been a total . . . .storm lately. We were scheduled to finish paying off all our rental condo debt right now, then one thing after another. Medical, salary drop, got rear ended by an uninsured driver, then new water heater for a condo, then the floor is buckled up in another one, then we decided to take the kids on a Rick Steves trip (well that one is my fault), and now who knows when it will be paid off.
Except for the trip, it’s a huge black cloud that doesn’t seem to be letting up.
It could make you superstitious. On a smaller scale, I once had the ice maker break down, the garage door jammed, and water pipe bursts. All in the space of two days.
Glad to see investments still strong - I esp try to look at major account after each quarter. This thread has me keeping the eye on the ball a bit more.
We have had both the washer and dryer die about smother same time. They were same 20+ age and each needed inexpensive rubber replacement part for repair.
I’m always distressed when car A/C dies as it’s generally an expensive fix.
Unexpected expenses annoy us. But we do feel lucky that we can easily handle them. Per this article… Two-thirds of US would struggle to cover $1,000 crisis
And that’s why everyone should have money set aside for such expenses - in a sense they aren’t really unexpected -
they always seem to happen but they are definitely unwelcomed. So best to be prepared. Funny how many in that 2/3s seem to have the $ for when it is time for other non-necessities like drinks and dinner out.
Yeah! And it’s also funny how many of those 2/3rds worked their whole lives check-to-check at multiple minimum rate jobs trying to keep things together and provide for their families.
Me? I feel damn lucky every day to have the ability not to worry about money. Wasn’t always like that though and some of it comes right down to plain old luck.
Obviously not talking about those who are barely making ends meet working minimum wage jobs. That is understandable but does not total 2/3rds of the country.
Sorry to be so sensitive. However, the article was about how perilous family’s finances still are following the housing crisis and other unexpected downturns. Just reacting to that.
One has to have sympathy for those who couldn’t dig themselves out of a paycheck to paycheck life. I literally can’t imagine, which is a failure of my imagination, how it must be to work, year after year, without being able to advance meaningfully and have a little nest egg. It’s just too far from my own, lucky, existence.
I am much more familiar with couples, having two moderately well-paying jobs, who literally don’t have $1000 for an emergency. I had to lend one of those $1000, years ago, to fix their van which had broken down on a ice hockey trip. Ice hockey is expensive in NJ, I never noticed them skipping a round of drinks, and my sympathy for them is sprinkled with a bit of “shake my head.”
I’ve had similar conversations @IxnayBob . I remember one mom calling to pay a bill for her daughters family (heating or plumbing service and less than $400). She had to pay because grandson played travel baseball (which I am familiar with the cost!) and had private batting lessons. She went on to say how her poor daughter even had to give up her expensive purses … but mom had to pay for small home repairs.
Maybe people are being very smart. They know people/parents will help with basics but not with discrecionaries. They spend money on the latter counting that someone will step up for the former.
