I bought a new vehicle two years ago. I traded in a 25-year-old car of the same make (and got a good valuation, 67% over Kelley Blue Book). The new vehicle has an internal combustion engine. I did not want an EV or hybrid. Here were some of my considerations:
Like you, I wanted to keep the new vehicle for a long time, at least through the extended warranty period. Depending on the manufacturer, once a model reaches about the 10 year mark, the manufacturer may no longer supply certain OEM parts. This was a problem with my old car when they stopped making the computerized control module (a story for another time). New cars have a lot more electronics - will replacement parts for certain components, even aftermarket parts, still be available?
Battery technology is improving. For example, a few vehicle manufacturers are using EV batteries with modular designs that allow replacement of a bad cell, vs. the replacing the entire battery pack, which is very expensive if out of warranty. I expect the landscape for EVs and hybrids will look very different in 3 - 5 years. If your heart is set on an EV, I would recommend getting a 3-year lease, as someone else in the comments section suggested.
EV battery lifespans are extending, but it is dependent on things like driving considerations and how hot the air temperature is. I already have too many devices that rely on battery charging, and didn't want to have to have another device, especially one as important as a vehicle, that I needed to keep track of.
EV battery fires are nasty business - very hard to put out. A serious traffic accident, or a defective battery pack are just two situations that might result in a fire. Yes, EV battery safety has improved and the risk is low, but it is not zero.
EV/hybrid purchase prices are typically more expensive than comparable gas-powered vehicles. Insurance is also more expensive, other things being equal. So while electricity (plus a small amount of gas for hybrids), maintenance and repair costs are typically lower compared to gas-powered vehicles, again, since I don't drive much, the breakeven point extended beyond how long I expect to keep the vehicle.
Depending on the type of electric vehicle, how long you keep the vehicle, and miles driven, an electric vehicle is usually better for the environment in terms of greenhouse gas emissions. However, there is also an environmental cost associated with sourcing and mining the raw materials that are used in current battery pack technology.
Battery charging issues. I would have needed a new electrical panel, along with a new charging outlet in the garage. Also, the statewide charging infrastructure was not where it needed to be - not enough chargers, not enough rapid chargers, not enough working chargers, not enough chargers once you get away from the main metropolitan areas/highway corridors. (Not a consideration for me, but I’ve heard anecdotal stories of people living in apartments, townhomes and condos not being able to reliably have a charging station available when they need it.)
It really depends on your personal situation. Some people love their EVs and hybrids, but it wasn't the right technology for my situation and usage.
The local "Kroger" brand is doing it too. Prepackaged fresh produce in large "family" sizes is the biggest annoyance for me. I don't shop most of the center aisles, so am not directly affected by what they do there. They also changed the way they charge for BOGO items - before, if you bought a single BOGO item, they would charge half of what would have been the total for two items, now you get charged the same price, whether you buy one or two items. That, and the declining quality have forced me to shop two different stores now.
Am wondering if I should buy a lottery ticket today, since I am finding myself in agreement with the author. I am not an impulse buyer and I don't eat junk food, so it's easy to resist those traps. And the package sizes are usually way too large. Yes, I am a member, but mostly to help out family members. A developer is also building a Costco (with 32 gas pumps (!)) just over a mile from here, which I'm not happy about, since it will draw significant traffic onto nearby streets and into quiet neighboring residential areas that were never designed or envisioned for this kind of use.
You missed the phrase "and would be unpopular with the current administration". Personally, I would like to see some funds going to vanity projects, slush funds, foreign wars with no imminent threats, and containment facilities for humans going to items that help low and middle income people, as well as restoration of the foreign aid that Elon/Doge/AI arbitrarily cancelled. To address your last sentence, without an income exclusion for lower levels of unearned income, taxing unearned income would hurt the middle class, and those at lower income levels who are trying to save money for the future. And if you meant unrealized unearned income, that introduces even more issues. Jmo.
According to the analysis in the Trustees of the Social Security and Medicare trust funds report dated June 9, 2026: "The projected long-term finances of the combined OASDI fund worsened this year primarily due to three factors. First, the assumed ultimate total fertility rate was lowered from 1.90 children per woman to 1.75 children per woman. Second, estimated historical and assumed near-term and ultimate net total immigration are lower this year. These two demographic changes lowered the projected number of workers, projected taxable payroll, and projected GDP over the long range. Third, the One Big Beautiful Bill Act (OBBBA), as enacted on July 4, 2025, makes permanent the lower ordinary income tax rates and adjusted tax brackets originally passed under the 2017 Tax Cuts and Jobs Act and both increases and makes permanent the larger standard deduction of the 2017 Act. The OBBBA also adds a temporary additional standard deduction for taxpayers over age 65. As a result of these provisions, the OASI and DI Trust Funds will receive lower levels of revenue in the future from income taxation of Social Security benefits." The CRFB calculator mentioned in the comments doesn't allow "what ifs" that would require new legislation be passed, and would be unpopular with the current administration. It is more focused on 1) changing the benefit formula to make it less favorable to beneficiaries and 2) tweaking revenue. Reference:
https://www.ssa.gov/oact/trsum/
https://www.crfb.org/socialsecurityreformer/
"Bank deposits are insured only up to $250,000." This is not always the case. For example, there are different rules for accounts in the name of a trust. According to FDIC: "A deposit owner's trust deposits will be insured in an amount up to $250,000 for each of the trust
beneficiaries, not to exceed five, regard less of whether a trust is revocable or irrevocable, and regardless of contingencies or the allocation of funds among the beneficiaries. This will provide for a maximum amount of deposit insurance coverage of $1,250,000 per owner, per insured depository institution for trust deposits." NCUA has similar rules for accounts in the name of a trust. There are also different rules for other types of accounts, for example joint owner accounts. I enjoyed reading Mr. Saha's post, and felt additional clarification was needed. Reference:
https://www.fdic.gov/news/fact-sheets/final-rule-trust-mortgage-accounts-01-21-22.pdf https://ncua.gov/consumers/share-insurance-coverage
I agree with the author's observations regarding the detrimental effects of corporate mergers and acquisitions. Another thing the executive decision makers fail to recognize is how disruptive the "blending" process will be, in terms of time and money wasted, distractions, and decreased morale. Many years ago I witnessed this on three separate occasions, and they all had the same outcome:
The owner(s) and investors wanted to cash out.
The advisory company oversold the benefits.
The buyer spent a lot of time rationalizing the acquisition, and subsequently overpaid.
Employees were let go; decisions were made by things like negotiated pre-sale acquisition terms, the org. chart, and garden-variety politics, rather than competence, (irreplaceable) institutional knowledge, and/or functional value.
Surviving employees in both companies were distracted by additional demands, the elimination of key employees and resources, endless meetings, endless speculation, and uncertainty as to whether they would be laid off as well. Trust was completely broken.
Budgets were cut, R&D slowed, projects were cancelled.
Long-term productive relationships with vendors were cancelled, starting an expensive cycle of training (corporate and vendor employees) and often disenchantment with the new vendors.
Branding was merged or replaced, leading to confusion in the marketplace.
Accounts had to be reassigned and relationships were broken. Clients/customers suffered.
The target company's original value-add proposition (product and/or service) was shelved or sold 2 - 3 years post-acquisition, resulting in more distraction, more wasted time and more layoffs. (Yes, sometimes an M&A deal is done to eliminate competition, and the negative effects are similarly underestimated and brushed off by management.)
Can't name names, but most of the companies are well-known. As an aside, the current corporate and governmental FOMO "jump-on-the-bandwagon" approach with regard to the acquisition and deployment of AI/LLM technology seems to be following a similar path. Time will tell.... Jmo.
From a study by the University of Massachusetts Center for Social and Demographic Research on Aging: "... the Social Security COLA most typically results in a modest increase in benefits, leaving beneficiaries less covered over time, especially in states
where increases in the COLA fail to catch up with sizable increases in the cost of living." https://scholarworks.umb.edu/demographyofaging/59/
There have been a few times on HD where I've agreed with Mr. Quinn. However, it is apparent from this comment thread and others that any discussion about the meaning of the word "budget", or the perceived value of said "budget", would not be productive. I believe that Mr. Clements created Humble Dollar in part to provide a safe place to ask questions, share insights/knowledge, and participate in friendly and helpful discussions. In situations like these, I think the best way to show appreciation for his legacy is to continue to honor his values and founding principles with our posts and comments. In other words, ask yourself, "WWJC do"?
Comments
I bought a new vehicle two years ago. I traded in a 25-year-old car of the same make (and got a good valuation, 67% over Kelley Blue Book). The new vehicle has an internal combustion engine. I did not want an EV or hybrid. Here were some of my considerations:
- Like you, I wanted to keep the new vehicle for a long time, at least through the extended warranty period. Depending on the manufacturer, once a model reaches about the 10 year mark, the manufacturer may no longer supply certain OEM parts. This was a problem with my old car when they stopped making the computerized control module (a story for another time). New cars have a lot more electronics - will replacement parts for certain components, even aftermarket parts, still be available?
- Battery technology is improving. For example, a few vehicle manufacturers are using EV batteries with modular designs that allow replacement of a bad cell, vs. the replacing the entire battery pack, which is very expensive if out of warranty. I expect the landscape for EVs and hybrids will look very different in 3 - 5 years. If your heart is set on an EV, I would recommend getting a 3-year lease, as someone else in the comments section suggested.
- EV battery lifespans are extending, but it is dependent on things like driving considerations and how hot the air temperature is. I already have too many devices that rely on battery charging, and didn't want to have to have another device, especially one as important as a vehicle, that I needed to keep track of.
- EV battery fires are nasty business - very hard to put out. A serious traffic accident, or a defective battery pack are just two situations that might result in a fire. Yes, EV battery safety has improved and the risk is low, but it is not zero.
- EV/hybrid purchase prices are typically more expensive than comparable gas-powered vehicles. Insurance is also more expensive, other things being equal. So while electricity (plus a small amount of gas for hybrids), maintenance and repair costs are typically lower compared to gas-powered vehicles, again, since I don't drive much, the breakeven point extended beyond how long I expect to keep the vehicle.
- Depending on the type of electric vehicle, how long you keep the vehicle, and miles driven, an electric vehicle is usually better for the environment in terms of greenhouse gas emissions. However, there is also an environmental cost associated with sourcing and mining the raw materials that are used in current battery pack technology.
- Battery charging issues. I would have needed a new electrical panel, along with a new charging outlet in the garage. Also, the statewide charging infrastructure was not where it needed to be - not enough chargers, not enough rapid chargers, not enough working chargers, not enough chargers once you get away from the main metropolitan areas/highway corridors. (Not a consideration for me, but I’ve heard anecdotal stories of people living in apartments, townhomes and condos not being able to reliably have a charging station available when they need it.)
It really depends on your personal situation. Some people love their EVs and hybrids, but it wasn't the right technology for my situation and usage.Post: Buying a car in retirement
Link to comment from July 18, 2026
The local "Kroger" brand is doing it too. Prepackaged fresh produce in large "family" sizes is the biggest annoyance for me. I don't shop most of the center aisles, so am not directly affected by what they do there. They also changed the way they charge for BOGO items - before, if you bought a single BOGO item, they would charge half of what would have been the total for two items, now you get charged the same price, whether you buy one or two items. That, and the declining quality have forced me to shop two different stores now.
Post: Frittering away Frugality
Link to comment from July 11, 2026
Am wondering if I should buy a lottery ticket today, since I am finding myself in agreement with the author. I am not an impulse buyer and I don't eat junk food, so it's easy to resist those traps. And the package sizes are usually way too large. Yes, I am a member, but mostly to help out family members. A developer is also building a Costco (with 32 gas pumps (!)) just over a mile from here, which I'm not happy about, since it will draw significant traffic onto nearby streets and into quiet neighboring residential areas that were never designed or envisioned for this kind of use.
Post: Frittering away Frugality
Link to comment from July 11, 2026
You missed the phrase "and would be unpopular with the current administration". Personally, I would like to see some funds going to vanity projects, slush funds, foreign wars with no imminent threats, and containment facilities for humans going to items that help low and middle income people, as well as restoration of the foreign aid that Elon/Doge/AI arbitrarily cancelled. To address your last sentence, without an income exclusion for lower levels of unearned income, taxing unearned income would hurt the middle class, and those at lower income levels who are trying to save money for the future. And if you meant unrealized unearned income, that introduces even more issues. Jmo.
Post: Just the facts about Social Security
Link to comment from June 14, 2026
According to the analysis in the Trustees of the Social Security and Medicare trust funds report dated June 9, 2026: "The projected long-term finances of the combined OASDI fund worsened this year primarily due to three factors. First, the assumed ultimate total fertility rate was lowered from 1.90 children per woman to 1.75 children per woman. Second, estimated historical and assumed near-term and ultimate net total immigration are lower this year. These two demographic changes lowered the projected number of workers, projected taxable payroll, and projected GDP over the long range. Third, the One Big Beautiful Bill Act (OBBBA), as enacted on July 4, 2025, makes permanent the lower ordinary income tax rates and adjusted tax brackets originally passed under the 2017 Tax Cuts and Jobs Act and both increases and makes permanent the larger standard deduction of the 2017 Act. The OBBBA also adds a temporary additional standard deduction for taxpayers over age 65. As a result of these provisions, the OASI and DI Trust Funds will receive lower levels of revenue in the future from income taxation of Social Security benefits." The CRFB calculator mentioned in the comments doesn't allow "what ifs" that would require new legislation be passed, and would be unpopular with the current administration. It is more focused on 1) changing the benefit formula to make it less favorable to beneficiaries and 2) tweaking revenue. Reference: https://www.ssa.gov/oact/trsum/ https://www.crfb.org/socialsecurityreformer/
Post: Just the facts about Social Security
Link to comment from June 13, 2026
"Bank deposits are insured only up to $250,000." This is not always the case. For example, there are different rules for accounts in the name of a trust. According to FDIC: "A deposit owner's trust deposits will be insured in an amount up to $250,000 for each of the trust beneficiaries, not to exceed five, regard less of whether a trust is revocable or irrevocable, and regardless of contingencies or the allocation of funds among the beneficiaries. This will provide for a maximum amount of deposit insurance coverage of $1,250,000 per owner, per insured depository institution for trust deposits." NCUA has similar rules for accounts in the name of a trust. There are also different rules for other types of accounts, for example joint owner accounts. I enjoyed reading Mr. Saha's post, and felt additional clarification was needed. Reference: https://www.fdic.gov/news/fact-sheets/final-rule-trust-mortgage-accounts-01-21-22.pdf https://ncua.gov/consumers/share-insurance-coverage
Post: Beyond Bank Accounts
Link to comment from June 13, 2026
I agree with the author's observations regarding the detrimental effects of corporate mergers and acquisitions. Another thing the executive decision makers fail to recognize is how disruptive the "blending" process will be, in terms of time and money wasted, distractions, and decreased morale. Many years ago I witnessed this on three separate occasions, and they all had the same outcome:
- The owner(s) and investors wanted to cash out.
- The advisory company oversold the benefits.
- The buyer spent a lot of time rationalizing the acquisition, and subsequently overpaid.
- Employees were let go; decisions were made by things like negotiated pre-sale acquisition terms, the org. chart, and garden-variety politics, rather than competence, (irreplaceable) institutional knowledge, and/or functional value.
- Surviving employees in both companies were distracted by additional demands, the elimination of key employees and resources, endless meetings, endless speculation, and uncertainty as to whether they would be laid off as well. Trust was completely broken.
- Budgets were cut, R&D slowed, projects were cancelled.
- Long-term productive relationships with vendors were cancelled, starting an expensive cycle of training (corporate and vendor employees) and often disenchantment with the new vendors.
- Branding was merged or replaced, leading to confusion in the marketplace.
- Accounts had to be reassigned and relationships were broken. Clients/customers suffered.
- The target company's original value-add proposition (product and/or service) was shelved or sold 2 - 3 years post-acquisition, resulting in more distraction, more wasted time and more layoffs. (Yes, sometimes an M&A deal is done to eliminate competition, and the negative effects are similarly underestimated and brushed off by management.)
Can't name names, but most of the companies are well-known. As an aside, the current corporate and governmental FOMO "jump-on-the-bandwagon" approach with regard to the acquisition and deployment of AI/LLM technology seems to be following a similar path. Time will tell.... Jmo.Post: How Deals Hurt Returns
Link to comment from April 4, 2026
Perhaps he was tipping his hand.
Post: AI, Bubbles, and Markets
Link to comment from March 21, 2026
From a study by the University of Massachusetts Center for Social and Demographic Research on Aging: "... the Social Security COLA most typically results in a modest increase in benefits, leaving beneficiaries less covered over time, especially in states where increases in the COLA fail to catch up with sizable increases in the cost of living." https://scholarworks.umb.edu/demographyofaging/59/
Post: Plan for a Pay Cut
Link to comment from January 13, 2026
There have been a few times on HD where I've agreed with Mr. Quinn. However, it is apparent from this comment thread and others that any discussion about the meaning of the word "budget", or the perceived value of said "budget", would not be productive. I believe that Mr. Clements created Humble Dollar in part to provide a safe place to ask questions, share insights/knowledge, and participate in friendly and helpful discussions. In situations like these, I think the best way to show appreciation for his legacy is to continue to honor his values and founding principles with our posts and comments. In other words, ask yourself, "WWJC do"?
Post: Can a budget do all that?
Link to comment from January 3, 2026