I think people are spenders or savers; 40 years as a CPA confirmed my view. Spenders have an appetite for spending they cannot switch off to become a saver, especially when they approach retirement age and realize they have saved nothing. Advice to save and payoff debt is not in their DNA.
In the last decade, my wife and I have seen orthos for injuries, new knees, hips and now, for me, a new shoulder. We see differ docs in the same clinic, and they are accompanied by a “scribe,” who records the visit. I assume the doc reviews and signs off on the trascription at some point. CNAs and techs interview, take vitals and enter into the computer. The doc goes from patiet to patient with scribe in tow.
A couple of quotes I like are “Marketing is the rattling of a stick in the bucket of swill” and “more is spent on marketing than on developing a good product.”
I’m a retired CPA, so I do ours, 2 of my children’s and MIL’s. I buy a version of the professional software I used that includes 10 returns. It files any state, e-filing and many other nice features. I still have my old EFIN that allows me to use the software. I have been e-filing since 1992, and have never had a security issue, and the acknowledgement has been handy a few times when the Service “lost” a filed return in their system. I also have an EFTPS account for making payments, and on the rare occasion I have a refund, I apply to the next year or have Direct Deposit. I would paper file only if I couldn’t e-file. Paper takes longer to process and increases risk of error. For those who think certified return receipt covers you, I only proves something was filed, not what was filed; I have read this for years and have managers say that in seminars. Also, I urge people to obtain an IP-PIN to help prevent a criminal from filing under your SSN.
I think frugality is in my DNA; can one even change that? I use the Gas Buddy app to determine the best price. Two years ago we drove from SW Missouri to Breckenridge, CO using Gas Buddy and Costco apps to help plan our trip. Is that a sickness?
I am one of those who track everything, the results of being a CPA for 40 years. We only have 1 joint checking account and 2 credit cards, both cash back. I use Quickbooks, and reconcile all my accounts monthly. I have never budgeted because we never spend all of our monthly cash inflows. We are frugal, but buy when we need to. Mortgages were paid off decades ago, and we paid cash for our last car purchase. I track because it is a sick habit I have, and I enjoy doing it!
That's how I dress now in retirement. I generally wore slacks and a polo or buttondown shirt to the office. I live in a tourist town, and few wear suits...even bankers and attorney's dress business casual. My theory is ties reduce bloodflow to the brain!
We are not daily spenders, rather, we buy when we need something. I'm a retired CPA, and started with Quicken in 1992, but converted my file to QuickBooks as it is geared more to accountant minds. I deferred SS until 70, and our combined amount more than covers our expenditures. I had to fund my own retirement, and had to start my RMD in 2024, which I deposit into 529 accounts for grandchildren. I'm also a jeans and t-shirts guy, and wear items far too long...my wife lets me know when something needs to go. Most of our purchases are local stores, but we do online purchases. I'm a DIYer and a woodworker with a very nice shop, so I can always spend money on tools, but I have every tool I need and ruminate when considering acquiring another. I know we can more of our money, but a lifetime of frugality and saving is hard to change. Oh yeah, my maternal grandfather was Dutch and my wife has Scottish blood in her veins!
Comments
I think people are spenders or savers; 40 years as a CPA confirmed my view. Spenders have an appetite for spending they cannot switch off to become a saver, especially when they approach retirement age and realize they have saved nothing. Advice to save and payoff debt is not in their DNA.
Post: Still a Wild Child: When Spending Habits Never Grow Up
Link to comment from August 29, 2025
Thanks for an excellent description of how to create real wealth. It is a lifelong marathon, not a sprint.
Post: The Wages of Success
Link to comment from August 26, 2025
In the last decade, my wife and I have seen orthos for injuries, new knees, hips and now, for me, a new shoulder. We see differ docs in the same clinic, and they are accompanied by a “scribe,” who records the visit. I assume the doc reviews and signs off on the trascription at some point. CNAs and techs interview, take vitals and enter into the computer. The doc goes from patiet to patient with scribe in tow.
Post: The Jevons Paradox
Link to comment from June 28, 2025
A couple of quotes I like are “Marketing is the rattling of a stick in the bucket of swill” and “more is spent on marketing than on developing a good product.”
Post: Eyes Forward
Link to comment from June 21, 2025
I have used a password manager for decades, and use a paid version for $10 a year. Cheap insurance for my security, and using it is second nature.
Post: The Victim Might Be You
Link to comment from May 22, 2025
I’m a retired CPA, so I do ours, 2 of my children’s and MIL’s. I buy a version of the professional software I used that includes 10 returns. It files any state, e-filing and many other nice features. I still have my old EFIN that allows me to use the software. I have been e-filing since 1992, and have never had a security issue, and the acknowledgement has been handy a few times when the Service “lost” a filed return in their system. I also have an EFTPS account for making payments, and on the rare occasion I have a refund, I apply to the next year or have Direct Deposit. I would paper file only if I couldn’t e-file. Paper takes longer to process and increases risk of error. For those who think certified return receipt covers you, I only proves something was filed, not what was filed; I have read this for years and have managers say that in seminars. Also, I urge people to obtain an IP-PIN to help prevent a criminal from filing under your SSN.
Post: Now taxes are filed, I have a question: How did you prepare your taxes?
Link to comment from April 18, 2025
I think frugality is in my DNA; can one even change that? I use the Gas Buddy app to determine the best price. Two years ago we drove from SW Missouri to Breckenridge, CO using Gas Buddy and Costco apps to help plan our trip. Is that a sickness?
Post: Ah, nuts! I just don’t care about my spending any longer.
Link to comment from March 21, 2025
I am one of those who track everything, the results of being a CPA for 40 years. We only have 1 joint checking account and 2 credit cards, both cash back. I use Quickbooks, and reconcile all my accounts monthly. I have never budgeted because we never spend all of our monthly cash inflows. We are frugal, but buy when we need to. Mortgages were paid off decades ago, and we paid cash for our last car purchase. I track because it is a sick habit I have, and I enjoy doing it!
Post: Detailed tracking expenses and spending. Is there real value?
Link to comment from March 7, 2025
That's how I dress now in retirement. I generally wore slacks and a polo or buttondown shirt to the office. I live in a tourist town, and few wear suits...even bankers and attorney's dress business casual. My theory is ties reduce bloodflow to the brain!
Post: Where and When Do You Spend?
Link to comment from March 4, 2025
We are not daily spenders, rather, we buy when we need something. I'm a retired CPA, and started with Quicken in 1992, but converted my file to QuickBooks as it is geared more to accountant minds. I deferred SS until 70, and our combined amount more than covers our expenditures. I had to fund my own retirement, and had to start my RMD in 2024, which I deposit into 529 accounts for grandchildren. I'm also a jeans and t-shirts guy, and wear items far too long...my wife lets me know when something needs to go. Most of our purchases are local stores, but we do online purchases. I'm a DIYer and a woodworker with a very nice shop, so I can always spend money on tools, but I have every tool I need and ruminate when considering acquiring another. I know we can more of our money, but a lifetime of frugality and saving is hard to change. Oh yeah, my maternal grandfather was Dutch and my wife has Scottish blood in her veins!
Post: Where and When Do You Spend?
Link to comment from March 3, 2025