AUTHOR: Gary Klotz on 6/6/2026 FIRST: Michael1 on 6/6 | RECENT: DavidHLancaster on 6/8
Comments
Last year, at age 73, I replaced a 10-year old car with almost 170,000 miles on it. It ran well, but was starting to have some parts simply wear out & need replacement. I opted to replace it, not refurbish one part at a time as wear and tear took its toll. This is similar to how I replaced cars before retirement, but at a lower number of miles on this car. I used cash out of a taxable account and paid with a personal check. Driving a lot in retirement means having a reliable car, rather than spending excessive time in repair shops’ waiting rooms while an older car gets fixed.
Yes, Costco is not a bargain if you succumb to impulse or buy junk food or buy quantities that you cannot consume without waste. For example, a 3 foot package of popcorn. But for non-perishable daily necessities such as paper towels, toilet paper, napkins, printer paper, vitamins, & frozen food products, savings exist. Disciplined shopping is the key. I gas up my car at Costco almost exclusively, and the lower gas price, plus, the rebate if you use the Costco VISA card generate real savings and more than offset the cost of the annual Costco membership fee. We only rent cars several times a year, but use Costco and save money on each rental. The Costco discount on our most recent rental more than offset the annual Costco membership fee. i have never purchased the famous $1.50 hot dog special or a big slice of pizza. Yet, whenever I go to Costco, I always buy a $0.79 fountain drink, even if it is “junk food.” At least, I do not buy 3 ft bags of popcorn.
I agree that greeting cards are expensive, but so are many things. But I buy them anyhow, just as I buy other things that seem more expensive than they may be worth. The expense is not high enough to cause me to devote extra time, energy, and gas to driving around for the least expensive option. I just buy them at the neighborhood grocery store or drugstore.
It may be one of those questions for which “all of the above” is the answer . Many people, for various reasons, are not good at making money. Many people, for various reasons, including lack of ability, interest, or knowledge, are not good at handling or investing money. Financial issues intimidate many people. And many people make poor decisions with their money. During my career, I often had to review employee personnel files, and I reviewed many files where an employee took an emergency loan from a 401(k) plan and then filed for bankruptcy not too long after the loan. HD readers are a frugal, financially
conscientious group, but not as many of our fellow citizens share those traits as HD readers might expect or hope. The schools may be helping more now than in the past. My grandson, for example, took a junior high class on college and career options this past school year. His teacher explained how wealth builds in a 401(k) account, in part, through compound interest, which was a revelatory concept for my grandson.
The last time I commented on this topic in response to another post about this topic, I received negative reactions to my comments. But here I go again. We have never shared information about our income or net worth with either of our daughters — not while we were working and not since we retired in 2017. When, during middle school and high school, our daughters asked if we could afford something, my wife’s standard answer was that yes, we could. This is the third consecutive year in which we have made substantial monetary gifts to each of them. We have explained that the gifts are partial pre-payments of what they will eventually inherit. Our stated reason for the timing of the gifts is that it makes sense to give them money now when they may need it more, rather than for them to receive everything when we pass. Each daughter asked if we could afford these gifts without jeopardizing our retirement finances, and we answered that yes, we could. At some future date, we will change course and share more information, but we see no need to do that yet. Ultimately, each family has to handle this topic as it sees fit and in a way consistent with that family’s history.
Good point. In this situation, I viewed its comments and attitude as straightforward, analytic, and constructive, positive without becoming sycophantic.
Excellent article AliceMia’s social media post is another reason why I have no social
media accounts. Her position also reminds me of comments that I have heard over the years by people, even very successful professionals and entrepreneurs, that the stock market is just a “casino.” Bogdan explains the value of retirement plans very clearly, as usual.
To the amusement & puzzlement of my passengers, I turn off the stop/start and the driver monitoring system in my 2025 Subaru Legacy every single time I start the car. Otherwise, it is a great car.
Comments
Last year, at age 73, I replaced a 10-year old car with almost 170,000 miles on it. It ran well, but was starting to have some parts simply wear out & need replacement. I opted to replace it, not refurbish one part at a time as wear and tear took its toll. This is similar to how I replaced cars before retirement, but at a lower number of miles on this car. I used cash out of a taxable account and paid with a personal check. Driving a lot in retirement means having a reliable car, rather than spending excessive time in repair shops’ waiting rooms while an older car gets fixed.
Post: Buying a car in retirement
Link to comment from July 14, 2026
Yes, Costco is not a bargain if you succumb to impulse or buy junk food or buy quantities that you cannot consume without waste. For example, a 3 foot package of popcorn. But for non-perishable daily necessities such as paper towels, toilet paper, napkins, printer paper, vitamins, & frozen food products, savings exist. Disciplined shopping is the key. I gas up my car at Costco almost exclusively, and the lower gas price, plus, the rebate if you use the Costco VISA card generate real savings and more than offset the cost of the annual Costco membership fee. We only rent cars several times a year, but use Costco and save money on each rental. The Costco discount on our most recent rental more than offset the annual Costco membership fee. i have never purchased the famous $1.50 hot dog special or a big slice of pizza. Yet, whenever I go to Costco, I always buy a $0.79 fountain drink, even if it is “junk food.” At least, I do not buy 3 ft bags of popcorn.
Post: Frittering away Frugality
Link to comment from July 9, 2026
I agree that greeting cards are expensive, but so are many things. But I buy them anyhow, just as I buy other things that seem more expensive than they may be worth. The expense is not high enough to cause me to devote extra time, energy, and gas to driving around for the least expensive option. I just buy them at the neighborhood grocery store or drugstore.
Post: Exercising true frugality
Link to comment from July 1, 2026
Excellent post & excellent comments. An income stream that includes annuities is a good way to go for steady income and peace of mind.
Post: Automatic Income stream? How important to you?
Link to comment from June 27, 2026
It may be one of those questions for which “all of the above” is the answer . Many people, for various reasons, are not good at making money. Many people, for various reasons, including lack of ability, interest, or knowledge, are not good at handling or investing money. Financial issues intimidate many people. And many people make poor decisions with their money. During my career, I often had to review employee personnel files, and I reviewed many files where an employee took an emergency loan from a 401(k) plan and then filed for bankruptcy not too long after the loan. HD readers are a frugal, financially conscientious group, but not as many of our fellow citizens share those traits as HD readers might expect or hope. The schools may be helping more now than in the past. My grandson, for example, took a junior high class on college and career options this past school year. His teacher explained how wealth builds in a 401(k) account, in part, through compound interest, which was a revelatory concept for my grandson.
Post: How financially illiterate are Americans?
Link to comment from June 19, 2026
Excellent post. Thanks
Post: How to Use AI With Your Portfolio
Link to comment from June 10, 2026
The last time I commented on this topic in response to another post about this topic, I received negative reactions to my comments. But here I go again. We have never shared information about our income or net worth with either of our daughters — not while we were working and not since we retired in 2017. When, during middle school and high school, our daughters asked if we could afford something, my wife’s standard answer was that yes, we could. This is the third consecutive year in which we have made substantial monetary gifts to each of them. We have explained that the gifts are partial pre-payments of what they will eventually inherit. Our stated reason for the timing of the gifts is that it makes sense to give them money now when they may need it more, rather than for them to receive everything when we pass. Each daughter asked if we could afford these gifts without jeopardizing our retirement finances, and we answered that yes, we could. At some future date, we will change course and share more information, but we see no need to do that yet. Ultimately, each family has to handle this topic as it sees fit and in a way consistent with that family’s history.
Post: Time to share our financial info with children?
Link to comment from June 6, 2026
Good point. In this situation, I viewed its comments and attitude as straightforward, analytic, and constructive, positive without becoming sycophantic.
Post: ChatGPT’s Portfolio Advice
Link to comment from June 6, 2026
Excellent article AliceMia’s social media post is another reason why I have no social media accounts. Her position also reminds me of comments that I have heard over the years by people, even very successful professionals and entrepreneurs, that the stock market is just a “casino.” Bogdan explains the value of retirement plans very clearly, as usual.
Post: Retirement Accounts
Link to comment from May 16, 2026
To the amusement & puzzlement of my passengers, I turn off the stop/start and the driver monitoring system in my 2025 Subaru Legacy every single time I start the car. Otherwise, it is a great car.
Post: HumbleDollar’s HumbleDrivers
Link to comment from May 13, 2026