Frank Stanford

Comments:

• Hi Jamie, I'll share my two cents. Be content with what you have now so you can save and invest more now. Avoid lifestyle creep so you can save more now. Over a 20 year period, that will make a huge difference.

  Post: When and Where?

  Link to comment from September 6, 2023

• Love your article Dana. When and Where are fun to think about during your career, then the true impact of those questions arises as we get closer. It's clear you've given it a lot of thought, so whatever your decision, you'll be fine. These are very personal decisions with no right or wrong answer. In my case, I chose to retire last year at 62 with my wife's blessing, and she plans to work 3 more years. It was difficult to walk away. I had the best job, best salary and best bonuses I'd ever had. The temptation to work another year or more was strong. What drove my choice was life and health are finite. A year later, the freedom is simply wonderful. The Where was easy. I told the wife we could move to the beach, mountains or anywhere she wanted. She gave me a firm no and said we're staying right here, which is ok with me.

  Post: When and Where?

  Link to comment from September 6, 2023

• Richard, I'm right there with you. 11 months under my belt. The two items that concerned me most were Income and Purpose. Even though the income piece made sense on paper, it was very unsettling to walk away from a paycheck. Looking at a spreadsheet and living it are two different things. For purpose, I made a list of things I was definitely going to do and things I might/could do to stay busy. Today, the freedom and slower pace have been wonderful. I'm much more at peace with the decision to retire and thank God for it every day. I wish you peace with your decision as well.

  Post: What We Lose

  Link to comment from August 26, 2023

• Long ago, a guy said something that stuck with me. "How does a poor man get rich? A little bit at a time." 37 years later, he was right.

  Post: What’s the wisest financial advice you’ve ever been given?

  Link to comment from August 23, 2023

• Generally, yes, but of course it depends on the price. We've all seen folks over-pay for a used vehicle. Car fever is real. It takes time and patience to find that great deal. I've bought one new vehicle in my life. A 2002 Ford Ranger. After 21 years, I still drive it every day. If you're going to keep it a long time, the price of new vs used doesn't matter much. Cars are like Wives, it's always cheaper to keep her. I kept her too.

  Post: Is buying a used car always the smarter financial choice?

  Link to comment from August 19, 2023

• Extended warranty discussions usually elicit strong opinions on both sides. It's a risk/cost thing. The risk of repair cost vs the cost to buy it. These warranties are simply a form of insurance, and in the end, most buyers would have been better off without it. The same is true for homeowners, life and auto insurance. Statistically, we'd be better off without it, yet most of us buy it anyway. For what it's worth, I'll share three bits of advice: (1) If purchasing an extended warranty gives you peace, and you've got the money, buy it. There are much worse ways to spend your money than buying peace of mind. (2) Buy it from the manufacturer, or for a vehicle, either from the manufacturer or from a third-party recommended by your mechanic who will know the good ones from the bad ones (3) Lastly, for some brands of vehicles, you don't have to the buy the manufacturer's warranty from the same dealer that sold you the car. You can buy from any dealer, even one 2000 miles away. Shop around. This can save you big $$$ as some dealers over-charge greatly.

  Post: When does it make sense to buy the extended warranty, if ever?

  Link to comment from August 19, 2023

• Marrying a woman who is content with a simple life. And she's beautiful. And she's ok with me buying a new truck next week. What more could a guy want?

  Post: What are the smartest financial moves you’ve ever made?

  Link to comment from August 19, 2023