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About Mary Cunningham

Mary Cunningham would never claim to be a financial expert but has worked in the area of finance with personal taxes for over 15 years. Those personal taxes included all personal aspects, rental property and small businesses. She will be offering some Canadian insight to this venture but she came to live in Canada by way of Kentucky.

Comments

  1. AvatarCrystal says

    October 12, 2012 at 11:01 am

    Taking the math one step further, even if you were able to set aside money in a 401k and IRA up to the limits allowed each year for 35 years (which comes to about three quarters of a million dollars and is totally unrealistic for most folks), you might still fall far short of what the “experts” say you need to retire.

    You’re so right about investing in “avenues of sustainable living” instead – needing less rather than having more is the key to financial serenity at any time of life and especially during the retirement years. The more that you can do for yourself, the less you have to rely on money or on others, which is always a good thing.

    • AvatarMary says

      October 12, 2012 at 11:19 pm

      Thanks Crystal…..glad that someone agrees with me on that it’s quite unrealistic for most folks to save all “they” say we should have…:-)

      Thanks for the comments.

  2. AvatarKeith Weber says

    October 12, 2012 at 12:03 pm

    Agreed. Most boomers will not have enough to retire in the manner we’ve been led to believe we should. The two key to finding happiness in that stage of life will be first – focusing on our true priorities of family, health, purpose, personal growth and spirituality; and second – managing our financial and human capital in prudent, purpose-driven manner. Check out the book on this very topic at Rethinking-Retirement.com.

    • AvatarMary says

      October 16, 2012 at 11:11 pm

      Hi Keith,

      Thanks for your thoughts here and thanks for posting. You definitely have the priorities straight, as far as I’m concerned and it’s always nice to find others who feel the same. Thanks for the link to the website, I’ll definitely have to check it out. I do truly believe that all of us are in need of evaluating both our finances and circumstances in a very prudent manner.

      Thanks for stopping by.

      Mary

  3. AvatarPoor to Rich a Day at a Time says

    October 12, 2012 at 12:25 pm

    I think we are finding ourselves in the AGE OF REFORM, and how we view retirement is no different……it is truly time to start rethinking everything and going about things from different angles. Even how we view success and wealth needs to be reformed.

    I liked this article as I myself have been thinking not about how much I need to retire on but how “Little” I can do it on and how much I can do myself through sustainable measures……….

    • AvatarMary says

      October 12, 2012 at 11:22 pm

      Carrie,

      I’ve been thinking for quite a while now about how “little” I can get by on….as life has prevented me from saving all that “they” say I should. But when I look at the dribs and drabs that I should have coming in and add that to what I know I can do for myself, it shouldn’t be too bad. It definitely wouldn’t be any worse that where I’m at right now..:-)

      Thanks for the comment…..I do appreciate it.

  4. AvatarAllan Douglas says

    October 13, 2012 at 7:24 am

    My wife an I realized several years ago that our retirement plan was going in the wrong direction. So we changed direction too. We sold our house, built a smaller one designed to be highly energy efficient, paid off all our credit (except the mortgage and we’re working on that). I’d been self-employed as a furniture maker for 13 years, but when the economy tanked luxury items like this were one of the first to go. As a self-unemployed person I put in a big garden and now grow a major portion of our food.

    We will not be going on cruises or touring the country in a motor home, but we will live comfortably and as securely as possible by having simplified and built self-sustainability into our lives.

    • AvatarMary says

      October 13, 2012 at 11:46 am

      Hi Allan,

      Thanks for the post….and your thoughts. I think that your situation is more the norm these days but unfortunately, many aren’t willing to face it like you did. We can all step up and help ourselves but we have to be willing to face the truth.

      Don’t you think that society is the one to blame for our “ideals” of retirement including cruises, traveling the world and being totally care free? That might be the “norm” for some but definitely for the most of us.

      So glad you’ve laid the map for your life going forward and you’re definitely an inspiration to many, that is, if they’re willing to face things head on.

  5. AvatarBrenda says

    October 13, 2012 at 1:14 pm

    I have always felt there was something to be said about the “good old days” when we grew and then canned what we ate. We made out own bread, which I guess is a hobby and treat these days and we never had much but we never starved. It occurred to me a couple of years ago that I would be better paying off my mortgage rather than borrowing money to buy RSPs and then spending the rest of the year payng it back. I have been concentrating on keeping the bills at zero so that when I do reitre my living expense will be very low.

    • AvatarMary says

      October 13, 2012 at 11:56 pm

      The good ol’ days have a lot to be said about them…..I really think we would all do well to relearn (or learn) those older skills. Sounds like you’re doing what’s best for you and that’s always the best to do…:-)

      Thanks for commenting, Brenda…..love hearing what others think.