Retiree behaviors in the time of inflation (graduate, 10 year old, payment)
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Right now I have spent 6 months without a built in microwave. I WILL buy it, but the only company irked me, and I will probably wait another 6 months. I bought a small counter one in the meantime. It's not inconveniencing me at all. At some point wanting to replace it will exceed my distaste at using the company, and I'll do it then.
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Right now I have spent 6 months without a built in microwave. I WILL buy it, but the only company irked me, and I will probably wait another 6 months. I bought a small counter one in the meantime. It's not inconveniencing me at all. At some point wanting to replace it will exceed my distaste at using the company, and I'll do it then.
I have never owned a microwave. I'm not even sure how to use it.
Sure, I thought of all that. No special charity or anything else, in fact I'd be a bit annoyed if I were about to die with leaving too much in assets.
Btw, if one googles retirement planning for singles without family, annuitues get mentioned far more often and higher on the list than in discussions of retirement planning in general. I do have an extended family, but they don't need my estate, ie, I don't think any of the kids/grandkids of my cousins ever give it any thought or expectation.
I was Googling the PETCO charity. I guess I got curious because they collect money at the register (which I always feel compelled to contribute to (and nothing else gets to me the way pet charities do). So, for a recent year return you can search for Petco Foundation Form 990 and see an actual copy of the tax return. For example they have about $17 million in investable assets. They received contributions of $33 million and the granted about the same amount. They have an application process for the funds to which they require disclosures and statements (and they likely do the due diligence to ensure the uprightness and forthrightness of the individual rescue charities). That bit costs them some administrative expense to administer the foundation. They gave various amounts to 650 individual charities for that year (say between $5k and $600k, with a lot below $20k and most below $100k; a few large outliers). The average is about $50k per charity.
I read before the predicament about leaving too much money to a single charity (it may be too much for them to manage).
It seems PETCO has maybe done the due diligence for me and I could select some local charities off their most recent 990 they have published. I could spread the love around. I suppose you could find a local pet charity that had land and needed another building and you could essentially leave your real estate to a charity specifying it was going to go towards a particular use (though I'd personally rather provide for veterinary care and food -- necessities of life). Or, you get my drift (substitute pets for something/anything as there's got to be something you like (maybe education or something)).
Even though my favorite nephew doesn't "need" my money due to the current tax laws I could leave him my house (because of the stepped up basis)and leave instructions for him to use it as charitable contributions preferably to pet charities (if he sees no other use for the money) and he can take a charitable contribution deduction himself (so, there is some use for him) and leave pet charities the 401k (because the 501(c)(3) does not have to pay taxes on inherited 401k's. This is assuming my primary beneficiary predeceases me (which is expected).
For the most part single people contribute more than they draw from society. It's just the way it is... Not all obviously, but, anyone who works a career and accumulates assets over their lifetime. What's interesting is very dear old friends starting to mention to me some single woman who moved to France and is leaving her estate to the State of France because her relatives don't need the money. This woman from California. You can imagine my response as it is not a normal topic of conversation between us (or between me and anyone). Well my response was simply that I intend to die at home (not abroad). Geesh! And, as if it is not something that is already thoroughly planned out (though I admit it needs updating). This is interesting how married couples think of the single. But, anyways. My point is why wouldn't you plan as it is your money? I suppose maybe you retired so young you don't expect to leave much. Since none of us know the time of our demise it is unlikely to be zero.
Last edited by Wile E. Coyote; 12-11-2021 at 04:45 PM..
I think not having a microwave would be a great tool to lose weight. I would never take the time to reheat something on the stove or in the oven.
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When I go to buy something, I have a few guidelines. I won’t pay shipping. I’m willing to pay amazon prime annual membership, for the free shipping and the TV. It seems very reasonable.
I guess it is all about my perception of value, which may, or may not be accurate. I joined Costco for $65. I already have a Sam’s Club membership for $45. I think I will let the Costco go, because I really don’t see much difference.
I wouldn’t spend $10. for an ice cream cone either. It’s the principle of the thing. Even if I have the money, I’m not getting ripped off.
Yesterday, I needed 1/2c of pine nuts for a recipe. A bag of pine nuts at Publix was $13. Ridiculous.
There's little I hate more than wanting to try a new recipe and it calls for just a bit of an expensive ingredient I'll likely never use again! Otherwise, I'd consider cooking a perfect hobby in retirement.
I buy a gallon of water a week for my coffee from walmart. It used to be 68 cents. A few months ago. Now its $1.12. I get supply shortages from Asia or any number of things with ingredient or parts shortages. But this is water. And this is not 10 or 20% percent but almost double.
I mean...is everyone just allowed to double the price of everything and call it "inflation"?
I wonder how much of this is legit.
Water? I get mine out of the tap! I pay enough for it that way.
A lot of food items have near-doubled. Some cosmeticals have more than doubled. Greyhound bus tickets have doubled. Everyone is allowed to put any price they want on their product, but market may not bear it. People may not want to buy it any more for the higher price. Or they may. There is no "legit" price, there is only what customers are willing to pay.
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