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Just can't do it wasn't raised that is way. My mother in law is the same way as you, causes a lot of feuds between the bride and me. II wish I could leave more to my kids but college and private school these days will cost close to 700K. This was another source of contention with the bride as I'm a believer in state schools but my youngest kid is going to an IVY now so we'll see if I'm wrong.

Let me give you an example. Years ago, the bank I worked for gave everyone stock options as a one time event. One of my co-workers cashed them out they day he got them and went on a cruise. I waited a couple of years and used it as a down payment on my first house. When I graduated from college, my parents gave me a 2k gift and opened up an IRA for me. The next year I added another 1k. It's now 33 years later and that is worth 140k now. What worries me is long term care, that's the elephant in the room, I guess when the time comes I pray it's quick.
I don't want to derail this thread too much as it's exciting to be Sherlock and anticipate the 2020, but I'll leave it at this. Anyone that thinks 100 to 120 a month (see previous post) saved in their 20's, 30's, and probably even 40's buying slightly used vs new "isn't worth it" when that could be invested for the future is lying to themselves. I'll agree that in the 50+ range it's not so much an issue, go for it, assuming you've been smart, because the rate of return is far less, but it's just ignorance when young to ignore investing in retirement given the enormous rate of return. Living comfortably in retirement costs money. Traveling costs money. Investing in your grandchildren costs money. Property tax even you aren't working still costs money, etc. Find a balance and get educated on retirement planning in your early 20's. 1$ when you are 25 saved and invested is with more the 200x $1 saved in your 50's. Doesn't mean you need to be broke and frugal like others have made it seem lol, but the investment it takes for you start saving at 20 to be a millionaire at 65 is just under 60k. Think about that. Each year your return lessens. Enjoy life, but don't be stupid and ignore retirement planning even your dollars work the hardest.
 

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What worries me is long term care, that's the elephant in the room, I guess when the time comes I pray it's quick.
That's actually pretty easy. Mod said no more financial planning advice but I'm going to give you and anyone here some damn good health advice.

In August we had 40 gun violence deaths and I think that is active shooter type shootings. In the same month we had 40k die from obesity. Obesity is the #1 killer in the USA, besting smoking cigs or anything else you can come up with. The national epidemic isn't opioids, it's food. As a country we waste 50% of food, most of that coming from the fast food joints, which I call crack houses, and restaurants. That means we have to grow or raise 50% or 1.5 times the food we need due to waste. Fast food is the real epidemic as it's an American way of life for many. That food is loaded with sugar, garbage ingredients and the calorie density is off the charts. A combo meal hitting close to 2000 calories. Even restaurants, either chains or independents, the portions are too large, and the calorie density too high. You are literally killing yourself eating at these establishments if you do it with regularity. Once or twice is no big deal, that's moderation. I'm referring to people who on the reg, get fast food, go out to eat, and dining out is done with frequency. Unless they are working out like a hoss 2 hours a day to combat, they will literally pay for it.

So for your long term care, the best thing you can do for your quality of life and for your bank account (keeping dr. visits at the min) is to get healthy. That means eating right 90% of the time and exercising every day. And I don't mean taking a walk. Weights, cardio, or both. I met a man who was 70 who looked like he was 50. Rarely sees the doctor as his age. He eats right, works out a lot, and has a quality of life at his age that few have, which many could, if they'd stop being lazy and stop with the food gluttony.

I have friends or acquaintances who will come to my house once in a while, like annually. And bark like a dog at my vehicle fleet. The cars, the motorcycles. They insist I'm in debt or why I want to also have a truck (RL) since I already have these vehicles in my garage, on my property, etc. I have to explain to them that I rarely dine out, and don't waste money on frivolous chinese made goods, incessantly shopping. Saving, retirement, I see these subjects come up often across all the forums I am a member of, but rarely anyone talks about their health. Everyone addicted to the convenience life. Sometimes the more difficult way (eating right, exercising) is the right way.
 

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Sometimes the more difficult way (eating right, exercising) is the right way.
Your post implies that diet & exercise are the silver bullet for bad health I think it is a little simplistic. Diet & exercise are only two tools for a healthy life. Diet, exercise, and a good lifestyle will more likely result in better health but that still does not address people who die young for various health reason unrelated to diet or exercise and people through no fault of their own live in an unhealthy environment or are exposed to hazardous environments in the workplace.
 

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I don't want to derail this thread too much as it's exciting to be Sherlock and anticipate the 2020, but I'll leave it at this. Anyone that thinks 100 to 120 a month (see previous post) saved in their 20's, 30's, and probably even 40's buying slightly used vs new "isn't worth it" when that could be invested for the future is lying to themselves. I'll agree that in the 50+ range it's not so much an issue, go for it, assuming you've been smart, because the rate of return is far less, but it's just ignorance when young to ignore investing in retirement given the enormous rate of return. Living comfortably in retirement costs money. Traveling costs money. Investing in your grandchildren costs money. Property tax even you aren't working still costs money, etc. Find a balance and get educated on retirement planning in your early 20's. 1$ when you are 25 saved and invested is with more the 200x $1 saved in your 50's. Doesn't mean you need to be broke and frugal like others have made it seem lol, but the investment it takes for you start saving at 20 to be a millionaire at 65 is just under 60k. Think about that. Each year your return lessens. Enjoy life, but don't be stupid and ignore retirement planning even your dollars work the hardest.
Everybody’s Calculation is a little different. Here is how mine went: In 2011 We wanted a van and I thought “I’ll be frugal and buy used” So I bought a 2008 Odyssey with 48k miles on it for $28k (with extended warranty because I knew no history on the vehicle). 5 years later in 2016 it had 103k miles on it (and a new timing belt!). It was starting to need some things here and there and had it’s share of squeaks and rattles. It felt like it was time for an upgrade for our primary family vehicle. I was able to get $8,000 out of it which puts my depreciation cost for 55k miles at $20k plus a set of new tires, and that timing belt.

In 2016, I was able to get a new Odyssey Touring (not Elite) for considerably less than $40k without the previous owners stain under the back seat and scratch on the back window from their failure to replace the rear wiper blade. 🙄

Regardless, if I keep this Odyssey 100k miles, I break even (or better)

When it came time for me to buy my RTL-E I didn’t have to think very much about New vs Used. My vehicle gets even less miles per year than the odyssey. It should last me 10+ years easy. I don’t get the “itch” to buy a new car. I buy when the one I have ceases to meet my needs.

I’m not saying you are wrong...just offering another perspective. (Also Clark Howard says if you keep your vehicle 10 or more years you can buy new 😜)
 

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Everybody’s Calculation is a little different. Here is how mine went: In 2011 We wanted a van and I thought “I’ll be frugal and buy used” So I bought a 2008 Odyssey with 48k miles on it for $28k (with extended warranty because I knew no history on the vehicle). 5 years later in 2016 it had 103k miles on it (and a new timing belt!). It was starting to need some things here and there and had it’s share of squeaks and rattles. It felt like it was time for an upgrade for our primary family vehicle. I was able to get $8,000 out of it which puts my depreciation cost for 55k miles at $20k plus a set of new tires, and that timing belt.

In 2016, I was able to get a new Odyssey Touring (not Elite) for considerably less than $40k without the previous owners stain under the back seat and scratch on the back window from their failure to replace the rear wiper blade. 🙄

Regardless, if I keep this Odyssey 100k miles, I break even (or better)

When it came time for me to buy my RTL-E I didn’t have to think very much about New vs Used. My vehicle gets even less miles per year than the odyssey. It should last me 10+ years easy. I don’t get the “itch” to buy a new car. I buy when the one I have ceases to meet my needs.

I’m not saying you are wrong...just offering another perspective. (Also Clark Howard says if you keep your vehicle 10 or more years you can buy new 😜)
To be fair, the quoted post was in regards to another user saying saving for retirement was rather pointless. In my original post I also didn't say always, it's vehicle and situation dependent 😉. Overall though, a low milage 2 to 3 year old vehicle that was well maintained will save a buyer thousands.
 

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You can drive a 20 year old vehicle, live in the cheapest apartment you can find, work at McDonalds and easily afford both. One thing I have learned In my 50 years, saving for retirement works for banks, brokerage accounts and financial planners. As you get older you realize life is short. Skimping when your are young thinking you are going to retire rich is a lie. Having money in your youth, enjoying life, having nice things is your reward for working. Saving and shrimping your entire life for a big pile of money at the end to give to your kids (because if you skimped your whole life you aren't gonna spend it at 65) is great for them. I realized the con game long ago. Nothing wrong with saving etc, but you need health, you need energy, and you need to actually spend that money, which you will never do after worshipping the stash you have for decades. Your habits won't change if you have 100k or 5 million saved. See it every day. And plus factor in a market crash every 15 years or so where you lose 30-40%, it's a suckers game to invest, not saying you won't have money, just saying enjoy life as you live and don't wait for an unknown future. Don't go broke over committing, but also don't buy the cheapest of everything to save. Health, family and friends are your true wealth.
We had a small market crash in December, my one year return that includes that crash is +7%. The two instances where crashes hurt is if you were 6 months from retirement (you shouldn't be taking that much risk the last few years anyway), or if you panic and sell everything when the market is down.

Consumerism is the suckers game, not saving and investing.

I do agree with your tendencies argument, but anything good becomes bad when taken to an extreme. Diet and exercise on either extreme is unhealthy for example. I know people who never have enough to meet their spending desires and people who never have enough money saved. The key in life is balance.

We all determine our own priorities, we all slide out of balance in some areas of our lives, but you need a long range goal, a noble motive for all you do other than having nice stuff, or it's all meaningless and temporary. I work for my kids, for my kids' kids, for charity, for the freedom of choice.

Every monthly bill you have limits choices. Can you career change or move or help your kids or a friend in need or go on vacation easier if you have 3/4 of your income eaten by debt, or if you have almost none eaten by debt?
 

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Lol, wouldn't call a barely used 30k truck skimping or the cheapest thing you can buy. Paying the first couple year's depreciation in a vehicle in the vast majority of cases is a huge waste of money. If you actually want to retire comfortably one day and not work until your dead it's idiotic to not plan for your retirement. And yes the market falls, but historically over the average time one invests the rate of return is 10% per year. I get what you are saying, but you need a balance or you will be in a world of hurt at 65. I'll gladly let someone else pay 7k towards my truck that looks brand spanking new every day of the week.
Not to mention that when I myself drive a vehicle 5, 10, 20k miles it's then "used" anyway!

To me it really depends on the specific circumstances. Our '11 Jeep Grand Cherokee Overland was beautiful and fun to drive, but we spent big $ the last 1.5 years - 3k+ replacing the air suspension system, 1k for a failed headlight unit, etc. - and so we traded it (plus significant cash) for a '16 Lexus GX460 coming off lease w/29k miles. It was approx. 20k less than a new one, and was certified, so a very good value, relatively speaking.

I have a 2007 Ridgeline that my wife suggested I replace. Still runs great, but has rust over the LR wheel and is generally getting grungy (I use it like a truck some). With the model year end discounts on the '19s in play, the used trucks I'm seeing are listed very near the new-truck price. I like to buy late-model used in like-new shape, and it's kinda driving me crazy not to be able to save 7 or 8k in exchange for 20k miles, but there it is. So I'm deciding....
 
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