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Old 11-18-2014, 12:30 AM   #21
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Freedom of choice in a lot of areas of life
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Old 11-18-2014, 12:37 AM   #22
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To work for me, so I don't have to.


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Just like my signature line

I used money to buy my way out of misery, asi n the lousy commute I had for many years. When I switched to working part-time back in 2001, I saw the income I was bypassing as the "price" to pay for getting rid of much of the misery of the awful commute. A second reduction in weekly work hours in 2007 was additional price to pay to get rid of more of my commute, and ERing was the finishing touch on the same "purchase."
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Old 11-18-2014, 12:46 AM   #23
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So Ha, what is not to like about Costco - free "hors d'oeuvres", food and gas at prices barely above cost, $5 deli chickens, 2% cash back memberships that can be used with a 2% cash back AM Ex card, and employees paid a living wage.

Charlie Munger shops at Costco:
USA TODAY Education - Careers TODAY

He has said "I believe Costco does more for civilization than the Rockefeller Foundation."
Munger Says Costco Beats Charity as Buffett Signs Up Donors - Bloomberg

Why pay more at other stores for the same items? If nothing else you could always give the savings to charity. Our local Costco has a lot of healthy, organic products at discount prices.
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Old 11-18-2014, 06:21 AM   #24
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Merrill Lynch - The Grasshopper and the Ants (199…: http://youtu.be/F3ow-sq0Cy8

Short rendition of the classic Aesop fable about savings included for your enjoyment.
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Old 11-18-2014, 06:35 AM   #25
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Often, I would rather just do without something than take pains to get it.
I think this item bears repeating. It's far easier to save when you change your mindset from "it's easy to just go buy it" to "it's a hassle to go buy it".

I think I'm still more in the former mindset than the latter, but it's something I want to work on. Thanks for the reminder.
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Old 11-18-2014, 07:05 AM   #26
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I second (or third) the "do without it" school. Lots of things we like are not important to us at all. Worrying that we won't be able to cover the essentials is.
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Old 11-18-2014, 07:24 AM   #27
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I was convinced this was a post from imoldernu, until I saw that it had been posted by Ha. Quite a shock to the old system to see a post from Ha, written in a style that is not the norm for him.
It's far too short for imoldernu.
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Old 11-18-2014, 10:29 AM   #28
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The purpose of savings and assets:

All of the above reasons given plus
... so we can have the pleasure of posting
to the FIRE and Money forum
about our musings on money, spending it, keeping some.
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Old 11-18-2014, 10:37 AM   #29
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It's far too short for imoldernu.
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Old 11-18-2014, 10:45 AM   #30
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Savings and other assets are just a means of storing my labor performed during a time when I can work, for later when I cannot or do not want to.
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Old 11-18-2014, 12:44 PM   #31
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I'm reminded of a discourse in a personal finance book. The author recounted the story of how a family patriarch had passed down to his children some IBM stock with the admonition to "never sell the IBM stock!". They dutifully followed that advice for three generations. The author then listed all the needs that went unfilled because the families would not sell the stock. The child who didn't get a college education, the sale of a family home, etc. The obvious point is to remember that money/assets are tools to be used when needed. Not things to hoard for their own sake.
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Old 11-18-2014, 01:05 PM   #32
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I'm reminded of a discourse in a personal finance book. The author recounted the story of how a family patriarch had passed down to his children some IBM stock with the admonition to "never sell the IBM stock!". They dutifully followed that advice for three generations. The author then listed all the needs that went unfilled because the families would not sell the stock. The child who didn't get a college education, the sale of a family home, etc. The obvious point is to remember that money/assets are tools to be used when needed. Not things to hoard for their own sake.
I know someone that inherited a large amount of Dow Chemical stock which is where there father had worked. He was also supposed to keep the stock forever. Once he got the stock in his control, he immediately diversified out of Dow Chemical into a diversified portfolio. He hasn't told his mother but he intends to do the same with his share of her stock when she passes away.
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Old 11-18-2014, 01:52 PM   #33
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Sigh. Why must everything have a purpose? Can't it just "be"?
We're talking about "assets" not Congress.
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Old 11-18-2014, 02:18 PM   #34
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Money is like my mother's fine china -- never to be used, but to be comforted in the fact that one has it in the cabinet, just in case someone important should come for dinner.
LOL! I often felt like this...but as the stash is growing over time, I've found myself to be ever-so-slightly more liberal with my expenditures.

Granted, my light loosening of the belt still makes me more frugal than probably 85% of the people in this country...but it's nonetheless still a slight relaxation.

I'll be in the camp of actually forcing myself to upgrade my lifestyle once I reach ER to spend 3% of my portfolio. Of course, I say that as a single guy, who hopes to be married with a few kids in the future. So, depending on how on-board my future Mrs. MooreBonds is in this camp, I might have an involuntary revision of my answer above.
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Old 11-18-2014, 04:20 PM   #35
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Originally Posted by daylatedollarshort View Post
So Ha, what is not to like about Costco - free "hors d'oeuvres", food and gas at prices barely above cost, $5 deli chickens, 2% cash back memberships that can be used with a 2% cash back AM Ex card, and employees paid a living wage.

Charlie Munger shops at Costco:
USA TODAY Education - Careers TODAY

He has said "I believe Costco does more for civilization than the Rockefeller Foundation."
Munger Says Costco Beats Charity as Buffett Signs Up Donors - Bloomberg

Why pay more at other stores for the same items? If nothing else you could always give the savings to charity. Our local Costco has a lot of healthy, organic products at discount prices.
Bridgette pretty much sums it up for me: Top 10 reasons I hate Costco
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Old 11-18-2014, 04:26 PM   #36
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The purpose to me was to be able to sing this little ditty walking away from work on the last day:

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Old 11-18-2014, 04:36 PM   #37
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Bridgette pretty much sums it up for me: Top 10 reasons I hate Costco
Pretty much gets my feelings also. Between continuing to work and not having to shop at Costco, or retiring and having to shop at Costco (or worse yet Wal-Mart) I would take the no-Costco choice. It's just a personality flaw, maybe even a disorder.

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Old 11-18-2014, 04:45 PM   #38
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So I can retire and shop at the box store (BJs in our case, not Costco) on weekdays when it's not crowded. Seriously, arrive at 9 a.m., in and out in 35 minutes with 2 weeks' worth of provender. Oh, and we haven't seen the weird little guy who tried to run races with Mr. A. since we quit going there on Saturdays. That's OK; let him own Saturdays!

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Old 11-18-2014, 05:19 PM   #39
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Old 11-18-2014, 05:36 PM   #40
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So I can retire and shop at the box store (BJs in our case, not Costco) on weekdays when it's not crowded. Seriously, arrive at 9 a.m., in and out in 35 minutes with 2 weeks' worth of provender. Oh, and we haven't seen the weird little guy who tried to run races with Mr. A. since we quit going there on Saturdays. That's OK; let him own Saturdays!

Amethyst
Yeah, I could see not shopping there if I had to take little kids and shop on Saturdays. But it is fine at our local store going on weekdays. We don't have an issue with parking or long lines on week days during most people's working hours or after 7 pm.
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