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I find some of them rather strange retired folks would do them.
Like tattoos...I mean really?
Eating out once every 2-3 weeks isn't a budget killer...
I laughed at the 401K....First, most of the employers have a 5 year "growth" built into it. You get 20% then 40% then 60%...It works if you're at an employer for 20+ years. But this is for retired...so how does a retired person lose out?
Lottery? Hells Bells, go see casinos...I have played at one and I heard the call "Changing $2,000" THREE times in 2 hours...meaning the player had put in $6K into the game...Blackjack if you wondered. This was a guy who was a retired railroad engineer....You see older players way more than youngsters...
The guy who hacked this out seems to be quite the "Attitude" of "Listen to me, I'm so smart"....
The guy who hacked this out seems to be quite the "Attitude" of "Listen to me, I'm so smart"....
And his acolytes are all, "If you don't do what this guy says, you can never go on welfare or enter a government program." Like you and I haven't paid taxes our entire adult lives.
Unpleasant lot, this whole bunch. Whatever happened to live and let live? Aren't there enough people already who are all-too-eager to tell us how to live our lives?
The accumulated benefit of foregoing small but recurring costs, grows substantial only if we assume good annual rate of return, compounded over many years. Presumably the people who can't find $400 for a sudden emergency aren't much adept with stock-market investment, or really any investment. Their idea of savings and investment is the local bank. Their savings lose money to inflation every year... and they're on the hook for income-tax on what meager interest-rate they do manage to earn. Foregoing 100 lattes this year, might mean the capacity to buy only 50 lattes a couple of decades from now. In other words, splurging on the lattes is actually a better investment for such people, than foregoing the near-term wants, in favor of trying to amass greater resources long-term.
Okay, now factor in an emergency which requires $400 which I haven't saved. Factor in the stress of knowing I don't have the money, knowing I must either borrow it or put it on my credit card which charges interest.
Factor in paying the bill each month, the stress of seeing the interest added to the bill and knowing I'll be doling out an extra $50 or more over the course of paying it off.
If I couldn't save $400 in the first place, where is that extra going to come from? I'd be thinking that I wish I had cut out the coffee shop lattes and saved an emergency fund, because I dang sure can't afford to pay out an extra $50 this year, if money is that tight. And I don't like feeling anxiety when bills are due each month, either. For me making my own coffee at home is well worth the peace of mind.
I didn't see a list, but what stands out to me is a $160 Coach bag many years ago, I never used it and it went to goodwill a few yrs ago. I never liked it but didn't take it back.
I am no expert but I would bet a vintage coach bag in excellent condition would have brought a good bit of money. A quick eBay glance has some selling for $300-$400 dollars.
I didn't see a list, but what stands out to me is a $160 Coach bag many years ago, I never used it and it went to goodwill a few yrs ago. I never liked it but didn't take it back.
I think we all have those things. lol, actually they some times are the best teachers. Case in point, my youngest son had to have this "samurai" sword he saw in Disney. Just had to have it and no matter how much I tried to convince him that he would be wasting his money because I knew he would not play with the thing once we got to the hotel room, let alone getting home, he swore up and down that this was what he wanted.
So yep we let him buy it, it wiped out all the money he saved for spending money and as I predicted 2 weeks later he was moping around the house because he had no more spending cash and the thing was not as "cool" as it was in Disney.
He remember that feeling for a very long time and I really think it's why he thinks hard and long when outlaying a huge (for him) wad of cash.
A lot of people took that viewpoint and then lost their shirts when the markets crashed.
Sorry but then that is called poor asset allocation. right now most of my retired friends (with mortgages) have 2-3 years of cash sprinkled throughout their savings. We know a bad market is coming, we don't know when or how bad but we know this bull run can't last forever.
the 2007 crash lasted about 18-19 months. nothing changed for me except I cut back a bit on spending.
you definitely should not have to sell your house or refinance your mortgage because we enter into a bear market.
actually I probably will end up buying a second home in a bear market with a mortgage. I want a beach house and I have no plans on using my funds when mortgages are still low, although I have not look into financing a second home, I believe that's a bit different. stillain't using my money though.
I finally tore new pair of cargo pants while playing pickleball, now I can give my pants to my art teacher. And I’ve been using a belt to hold the pants up, because the front button is missing. And I also use a safety pin to hold one of the belt hooks in the back.
You can’t get anymore frugal than that, even for a non frugal person. I know I’m a very lazy person., that’s how. Solve my problem with clothes.
A lot of people took that viewpoint and then lost their shirts when the markets crashed.
A lot of people lost their shirts in 2009, I didn’t. I was in cash. I guess I’m not a lot of people. Besides my SS and pension can pay for the mortgage.
I know how to sew, I did my curtains and my couch slipcovers, and lots of clothes when I was younger too. I’m getting lazier in my old age. If a safety pin can do the job, why bother.
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