Join Early Retirement Today
View Poll Results: How long do you plan on deferring major purchases?
I will not defer my purchases 50 43.10%
Probably will defer for about 3 months 14 12.07%
Probably will defer for about 6 months 18 15.52%
Probably will defer for about 12 months 18 15.52%
Probably will defer for greater then 12 months 16 13.79%
Voters: 116. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
How long do you plan on deferring major purchases?
Old 03-27-2020, 03:42 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,290
How long do you plan on deferring major purchases?

Suppose you were planning on a major purchase (house, car, appliances, etc.). But now with the coronavirus situation how long do you think you will defer your purchase?
Lsbcal is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-27-2020, 03:46 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,290
In our case we were planning on buying a new car. But I cannot imagine even getting into a car right now to do a test drive. Maybe will have to defer on that for 12 months.

We also thought we would have some work done in the backyard. That might get deferred for at least 6 months.

The Europe vacation is probably on hold until September 2021.

So I answered 12 months.
Lsbcal is offline   Reply With Quote
Old 03-27-2020, 03:46 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 32,368
Actually, I've been thinking about the opposite.

We were thinking on replacing our car in December... but OTOH it will only be 5 years old and about 75k miles and still runs fine.

But I'm thinking that we have the cash and I suspect dealers will be desparate for sales soon and I can strong-arm a really great deal. While I usually like to kick tires, if we go this route I'll be doing most shopping/due diligence online rather than in-person.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56
pb4uski is offline   Reply With Quote
Old 03-27-2020, 03:47 PM   #4
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 49,154
I would defer until I was able to step out into the world again with reasonable expectation I would not contract a life-threatening viral disease.
__________________
Numbers is hard

The key to understanding human behavior is realizing half the population is below average.
REWahoo is offline   Reply With Quote
Old 03-27-2020, 03:49 PM   #5
Moderator
braumeister's Avatar
 
Join Date: Feb 2010
Location: Flyover country
Posts: 22,141
Quote:
Originally Posted by REWahoo View Post
I would defer until I was able to step out into the world again with reasonable expectation I would not contract a life-threatening viral disease.
+1
I see no sense in making a major purchase until I have some confidence I'll be around to enjoy it.
__________________
I thought growing old would take longer.
braumeister is offline   Reply With Quote
Old 03-27-2020, 03:51 PM   #6
Administrator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Land of Florida Man
Posts: 37,662
Quote:
Originally Posted by REWahoo View Post
I would defer until I was able to step out into the world again with reasonable expectation I would not contract a life-threatening viral disease.
This, and also applies to inviting a stranger into my house to do contract work.

New home construction will have slowed, and many contractors idle and looking for work. It may be a good opportunity for some bigger home projects.
MichaelB is online now   Reply With Quote
Old 03-27-2020, 03:53 PM   #7
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,968
Good question. We have wanted to replace our backyard patio for at least 5 years, but the competition for contractors has been fierce. We have the cash, but we need to come up with a design that won't look out of place with the house (an English tutor).

The contractors are now available, and since it is outside work we could probably keep a safe distance. I guess the answer is as soon as we can figure out a design.
Helen is offline   Reply With Quote
Old 03-27-2020, 03:54 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,290
Quote:
Originally Posted by REWahoo View Post
I would defer until I was able to step out into the world again with reasonable expectation I would not contract a life-threatening viral disease.
+1
The answer quite possibly depends on the respondent's age and health status.

I guess I could take a test drive in a new car with the sales guy in the back. But I'd have to have the windows down and an N95 mask and with the liberal use of hand sanitizer. That does not seem an attractive choice.
Lsbcal is offline   Reply With Quote
Old 03-27-2020, 04:00 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Location: Upstate
Posts: 2,320
I might do a purchase sooner rather than later. I'm usually a buy a new vehicle every 10-12 years kind of person, but if things get good enough (in terms of discount), there is a chance I could be convinced to move from my 2015. (Nothing wrong with it, just could see myself going new.)
copyright1997reloaded is online now   Reply With Quote
Old 03-27-2020, 04:06 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 12,532
We have money set aside for a new vehicle and a small scale kitchen remodel. I'll defer until I feel safe being in a car dealership showroom and with having tradesmen in the house.

We have three vehicles, two are 20 years old and one is 21 years old. It's probably time.......
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 03-27-2020, 04:07 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 12,532
Quote:
Originally Posted by MichaelB View Post
This, and also applies to inviting a stranger into my house to do contract work.

New home construction will have slowed, and many contractors idle and looking for work. It may be a good opportunity for some bigger home projects.
Agree completely!
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 03-27-2020, 04:08 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Apr 2008
Posts: 1,498
DD could use a new vehicle, and she has wanted our help in researching, test driving, and dealing with the sales people. She is one of the fortunate ones who started a new job three weeks ago (prior 5 year job moved out of state), and she is getting paid to work at home. Current vehicle is a 2008 and is starting to show its age.

As mentioned, test driving is out of the question right now. We have asked her to try and narrow down her interests to a handful of vehicles so she'll be ready once it is deemed safer to do so.
statsman is offline   Reply With Quote
Old 03-27-2020, 04:10 PM   #13
Moderator
rodi's Avatar
 
Join Date: Apr 2012
Location: San Diego
Posts: 13,248
We just bought a new car in December... so no need for that purchase.

We are deferring a home maintenance item because we have no choice. We need our house tented and fumigated for termites. But that involves vacating your house for a few days. We had it scheduled for 4/7 but cancelled. The hotel we were going to stay at cancelled (with apologies) our reservations and it just seemed like a good idea to reschedule the whole thing till later. Hope the termites don't do too much damage in the meantime.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
rodi is offline   Reply With Quote
Old 03-27-2020, 04:29 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Mar 2009
Posts: 2,786
Not deferring since I only buy what I need
__________________
Took SS at 62 and hope I live long enough to regret the decision.
foxfirev5 is offline   Reply With Quote
Old 03-27-2020, 04:32 PM   #15
Thinks s/he gets paid by the post
 
Join Date: Sep 2012
Location: Seattle
Posts: 4,964
I bought some property (real estate) last week so I guess the answer is not deferring one iota.
Fermion is offline   Reply With Quote
Old 03-27-2020, 05:53 PM   #16
Full time employment: Posting here.
 
Join Date: Jan 2006
Posts: 921
Quote:
Originally Posted by Fermion View Post
I bought some property (real estate) last week so I guess the answer is not deferring one iota.
Us too my wife was a little nervous, but I calmed her down
48Fire is offline   Reply With Quote
Old 03-27-2020, 07:17 PM   #17
Thinks s/he gets paid by the post
rk911's Avatar
 
Join Date: Dec 2018
Location: DuPage County IL
Posts: 1,981
the only "major" purchase we are contemplating are items for our new deck...table, chairs, fireplace and storage box. all available online. whether they're in stock and can be delivered before the turn of the century...well, that's beyond my control.
__________________
Rich
Ham Radio, Sport Pilot, RVer
FIRE: 8/11/2005, age 55y,1d
Administrator for a regional 9-1-1 call center
rk911 is offline   Reply With Quote
Old 03-27-2020, 11:18 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 14,378
Quote:
Originally Posted by Helen View Post
Good question. We have wanted to replace our backyard patio for at least 5 years, but the competition for contractors has been fierce. We have the cash, but we need to come up with a design that won't look out of place with the house (an English tutor).

The contractors are now available, and since it is outside work we could probably keep a safe distance. I guess the answer is as soon as we can figure out a design.
Better make sure you can get permits and inspections done or your project could stop mid-way leaving a giant mess to look at for months.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 03-28-2020, 03:26 AM   #19
Moderator
 
Join Date: May 2007
Posts: 12,876
I just completed a top-to-bottom renovation of my home and my car is about 2 years old. So even without the Coronavirus, I wasn't planning to make a major purchase anytime soon. If I did, I'd probably delay until the dust settles. In fact, I've decided to hunker down, cut my expenses, and preserve liquidities at this time.

I had been wanting to buy myself a small log cabin retreat in the mountains. But prices in this market have been ridiculous for many years and I had almost given up on the idea. If this crisis creates a buying opportunity, however, I'd most definitely jump on it.
__________________
47 years old, single, no kids. Exited the job market in 2010 (age 36). Have lived solely off my investments since 2015 (age 41). No pensions.
Current AA: real estate 64% / equities 10% / fixed income 16% / cash 10%
FIREd is offline   Reply With Quote
Old 03-28-2020, 04:54 AM   #20
Thinks s/he gets paid by the post
 
Join Date: Oct 2011
Location: Philadelphia
Posts: 1,087
We're planning on buying DD a different car this summer to facilitate hauling stuff to/from college. I suspect we will still do that, just get a better deal.

We planned on buying a beach house in a few years. If things get really weird, I could see pulling that purchase up by a few years. I have lots of credit capacity and prices could get really low if this forces selling among people who were closer to the edge. We'll see.
__________________
Luck is when Preparation meets Opportunity.
Closet_Gamer is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Good read on deferring SS versus QLAC Big_Hitter FIRE and Money 12 02-03-2016 10:20 AM
If you had a lot of stuff, how long did it take you to do a major de-clutter? spncity Other topics 105 09-15-2015 02:12 AM
Carrying a Mortgage but deferring the income? Wingnut FIRE and Money 9 09-09-2014 06:49 PM
Deferring property taxes: poll Meadbh FIRE and Money 29 01-22-2013 10:29 PM
Deferring cash payout, IRA or Annuity? csgraff FIRE and Money 1 10-23-2012 12:39 PM

» Quick Links

 
All times are GMT -6. The time now is 06:34 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.