"This is the last one of these I'll need to buy!"

[Stormy Kromer]

I am 56. Like most here I've lived below my means, even when my means were lean. I have gotten by well by having a low cost of living which means I buy used, or not so high on the shelf items.

I am reaching a point in life where I realize "If I buy one more good one it will last me til my estate sale".

Example. I fish a lot and have bought several used outboard motors that need some attention and require that you bring good oars with you when you leave the dock. Last year I "blew that dough" and bought a brand new Evinrude with the thought in my mind...it's the last one I'll ever need! My old motor was 40 years old, if this one lasts me 40 years I'll be older than Jack Lemmon's father in Grumpy Old Men.

Now, I need some new hunting boots. I realized that if I buy a high quality pair "it's the last pair I'll ever need!" They last 20 years and I won't be climbing mountains then. Why buy some cheap stuff that might not last.

The house needs a new roof soon. I could get out my old scaffolding and shingle it again myself and get along for another 20 years...or...I could hire a contractor to put on a steel roof and "get the last roof I'll ever need!"

I always wanted an ATV. I looked at some used ones but realized that if I buy a new one and take care of it, it will last 30 years, and it will be plenty good for me when I'm 86. It's the first and last one I'll ever need.

This attitude is just hitting me at this age (56), but I realize I may as well buy some good stuff and enjoy it while I'm here and not have to worry about replacing it instead of getting by and having to replace or fix it in a few years.

I don't want a lot of good stuff at my estate sale. I want it to be good stuff, well used.

Anyone else have an example of "This is the last one I'll ever need to buy!"

 

[REWahoo]

Anyone else have an example of "This is the last one I'll ever need to buy!"

Not me, but my dad, who retired at 62 shortly after buying what he told us was his "last" new car. He lived to age 90 and bought three more.

 

[Out-to-Lunch]

Well, you sort of covered it already, but mine (perhaps) bears repeating. A few years ago (when I was 50), I stripped off the extant 3 layers of roofing (1 cedar, 2 asphalt) from my 1929 home and installed clay tile roofing (by myself). I used 100-year materials everywhere, and I came to appreciate that I would be long gone when that roof is replaced.

 

[Montecfo]

I think it is wise to buy quality at all ages. Stated differently I think buying quality for someone who takes care of their stuff can be an excellent value.

It also ties in with the blow that dough mentality. Most of us are really good savers. It can be really hard to learn to loosen the purse strings but it can bring satisfaction to cultivate that ability.

 

[ownyourfuture]

The house needs a new roof soon. I could get out my old scaffolding and shingle it again myself and get along for another 20 years...or...I could hire a contractor to put on a steel roof and "get the last roof I'll ever need!"

I'm 59 & I'm going with steel.
Go for it!

 

[Scuba]

I have a 2007 car that has 175K miles on it. We only put 3-5K miles per year on it, and my mechanic says I should be able to get 300K miles on it. At that rate, I could be in my 90’s before the car wears out. It occurred to me as I was driving yesterday that I may never buy another car. The thought surprised me and made me feel a bit old.

 

[RobbieB]

You don't have to sell me on blowing the dough -

On the other hand, I just bought a 36 year old boat with a 16 year old motor on it.

But I did buy my first brand new car after I retired -

 

[Dtail]

Bought a new car in 2019 and stated to my DGF that this was our last new car. She stated back I am not driving the same car for 20 more years or so, so there is that.

 

[Alan]

We have said this is the last house we’ll purchase. We’ve owned 6 houses and lived in 6 rentals during our marriage. When we bought this house 4 years ago it was with the aim of being able to age in it and not having to buy again. 2 story, but downstairs is master bath and bedroom, on a bus route for when we can’t drive, close to the shops and doctors offices, regional hospital only 10 miles away.

“Never say never”, so who knows.

 

[ERD50]

I can't think of specifics at the moment, but this concept has certainly been in the back of my mind for a few years now.

Ahhh, now I do recall, about 6 years ago, I needed a new lawn tractor/mower for our 1 acre plot. I did spend more $$$ than I normally would have, with the thought that this will be the last one I buy. I'd kept the others for 10~11 years, and figured by then I'd have moved and/or hired someone to do it. We moved (1/4 acre) and I hired someone (just didn't want all that stuff cluttering the garage, and didn't want to be tied down to a mowing schedule if we wanted to travel).

So yes, it is something I consider. I might still buy a cheap version of something, depending. Sometimes the cheap one is all I need. Just depends.

edit/add: I just saw Alan's post - I missed the obvious one for us, we do expect this house to be the last (single family) house we buy, and that's why we chose a ranch (any single floor living plan would have worked).

-ERD50

 

[Ronstar]

My BIL is on his 3rd or 4th "last" truck.

Stormy - Life is short. Get a metal roof and a kick ass ATV.

 

[Aerides]

My parents retired in their early 60's and bought a new mercedes, and said "last car" with it.

Then they didn't. They now lease Toyota Highlanders. Were about to re-up for their 3rd one, but due to lack of new cars are going to buy out the lease next month for a price far less than the car would sell used.

They will almost certainly not let this be their last car, Mum wants another color. They are turning 75 and 77 this year.

 

[Murf2]

Not me, but my dad, who retired at 62 shortly after buying what he told us was his "last" new car. He lived to age 90 and bought three more.

This, my sister has bought three “Death Cars “ so far. I don’t see trying to put an end date on things. If it lasts it lasts. If it doesn’t. fix it or replace it. It wouldn’t be so bad to have to bay another pair of boots in 10 years, would it? [emoji16]

 

[stepford]

I bought my last suit and my last ties over ten years ago. I certainly hope I am never moved to replace them.

 

[Arizona1]

Bought a new car in 2019 and stated to my DGF that this was our last new car. She stated back I am not driving the same car for 20 more years or so, so there is that.

With that attitude, the girlfriend may need to be replaced instead of the vehicle.

 

[Aerides]

I bought my last suit and my last ties over ten years ago. I certainly hope I am never moved to replace them.

Now in that vein, I can say I have probably bought my last pair of 4" heels. (I'm short so I had a lot of "power shoes" for the office).

 

[Stormy Kromer]

OP here. Thanks for the examples, I never thought about the suit & tie, I bought my last a few years ago !

I drive my autos 10 years or so, I hope I'm not on my last one yet. As for tractors & tools, I think if I buy quality now it will last as long as I'm able to use them.

Firearms too, I like to hunt and shoot and I've bought quality items that will last as long as I will use them. I may want something new, but I won't need anything new.

I'm also hoping I bought my last paint brush, I put new maintenance free siding on the house last year!

 

[Gumby]

I think it is wise to buy quality at all ages. Stated differently I think buying quality for someone who takes care of their stuff can be an excellent value....

An excellent point. It has been my experience that I quickly forget how little I paid when the thing I bought turns out to be crap. And then I end up replacing it anyway.

... Firearms too, I like to hunt and shoot and I've bought quality items that will last as long as I will use them. I may want something new, but I won't need anything new....

Me, too. Although my safe is full and the young wife would take a dim view of me getting a larger one.

 

[CardsFan]

I bought my last suit and my last ties over ten years ago. I certainly hope I am never moved to replace them.

You made me think about it. I need to buy a new suit for DS's wedding in November. Only wear a suit to weddings and funerals, so this could be the suit I get cremated in.

 

[Gumby]

You made me think about it. I need to buy a new suit for DS's wedding in November. Only wear a suit to weddings and funerals, so this could be the suit I get cremated in.

I bought my last suit about 22 years ago. It was very high quality and I have taken good care of it. Very expensive, but it still looks great, so I feel it was money well spent. And I am proud to report that it still fits; I wore it to my nephew's wedding this summer.

 

[street]

I think a lot like you do even shingling my home in a few years from. I will say as I age just wondering why save more at my age. I have turned that corner and buy better things but still very conservative which will always be who I am.

I ask myself yesterday again, why would you buy more land at my age. Lol Well, I can for one thing, and if I can get some enjoyment from it, then why not. We only go around one time.

 

[Ronstar]

I think a lot like you do even shingling my home in a few years from. I will say as I age just wondering why save more at my age. I have turned that corner and buy better things but still very conservative which will always be who I am.

I ask myself yesterday again, why would you buy more land at my age. Lol Well, I can for one thing, and if I can get some enjoyment from it, then why not. We only go around one time.

Buying land is different than other purchases and is exempt from the conservative/frugal purchasing mindset. And like you said - if it gives you enjoyment then why not.

 

[Jerry1]

At 60, I do have that thought, but I don’t feel like I’m quite there yet. Even so, there’s very little that I wouldn’t buy with the thought that it could last a long time. Not saying I always buy “the best”, but I do think there’s a lot of value in quality.

I’m kind of struggling with the roof decision right now. Of course we never are certain of the future but I plan to live here a long time. Problem is that the roof is okay right now but it has two layers on it. I would never have done that. So I think it’s a given that I’ll have to replace the roof while I’m in this house. Question is whether to do it now and get the pleasure of the new roof or just wait until it really needs replaced which may be a short time before I need to leave this house. If I did it now, I might consider a metal roof. I like the longevity of the metal roof, but not sure about the look.

 

[street]

Buying land is different than other purchases and is exempt from the conservative/frugal purchasing mindset. And like you said - if it gives you enjoyment then why not.

Good point Ron! For me spending money on large ticket items is way out of my comfort zone. I never thought about buying land as exempt from the frugal purchase mindset, but yes you are absolutely right.

 

[Sunset]

I think a lot like you do even shingling my home in a few years from. I will say as I age just wondering why save more at my age. I have turned that corner and buy better things but still very conservative which will always be who I am.

....

I wish 30 yrs ago I had put on a metal roof rather than shingling it, as now I'm at the age I might have to hire out the job..