Retirees are too frugal!

[audreyh1]

At our local Costco, the liquor store is adjacent (but attached) to the main store. It’s part of Costco, but is separate and no card required. Very good prices, but still not as good as Total Wine.

We have an attached liquor store (which is not Costco owned), but Costco still sells wine and beer inside the store. It's a completely different wine selection from the attached liquor store including all the Kirkland brand wines and much better prices - that's what you want to compare to Total Wine. Someone can buy those items without a membership. You just tell them at the store entrance.

It depends on the state whether hard liquor is sold inside Costco with the beer and wine. In TX hard liquor may only be sold in a liquor store. And there are further restrictions on who may sell liquor (spirits) which is why Costco doesn't even own the attached liquor store.

Texas law currently excludes publicly traded corporations from selling hard alcohol and limits the number of liquor stores a company can own to five. Two bills filed in February by state Sen. Kelly Hancock, R-North Richland Hills, and state Rep. Jason Isaac, R-Dripping Springs, would repeal those laws.

https://www.texastribune.org/2015/03/18/costco-joins-wal-mart-kroger-liquor-fight/

The reason membership is not required to buy alcohol inside the Costco store is that most states have laws against requiring store memberships to buy alcohol.

 

[braumeister]

FWIW, I recently ordered a new car that is nearly twice the price of the last one I bought. My first "luxury" car and I'm kind of excited about it.

In the words of one of our favorite members, "Blow that dough!"

 

[IMATERP]

I just forked over 30K for a new CRV for DW. Once I do the math and calculate that it's the way to go for me, I'm OK with it.
I wouldn't have bought a Ford or a Chevy, but with her new Honda, and my 2 year old Toyota, I figure we're good for a decade.
Now, back to recycling my dryer sheets.

+1

Currently have a 10 year old Accord with 133k and wifey has 2 year old Camry with 25 k. I think I'll start looking to replace my accord in another 5 or 6 years...

 

[teejayevans]

I have a 2004 VW passat, with no heat, no AC, the glove compartment door is broken, computer LED screen is broken, and a few other issues, but it’s parked outside in a parking lot, been hit a few times, but if I had a garage I would have a nice car.

 

[imoldernu]

? If one has an older car that runs well and is in good condition, why buy a new car that will lose $3,000 to $5,000 in value, when it leaves the dealership?

 

[GravitySucks]

Arlo Guthrie is still alive?!

Touring with his sons and daughter.
Missed last years 50 th anniversary Alice's Restaurant tour.
His daughter is a very good singer songwriter. I was impressed.

 

[Danmar]

If you’re not spending now after 8 years of a bull market, you never will. What are you going to do when markets drop?

This was my thought as well. Don’t spend now because you are concerned that the market will drop. Dont spend when the market drops. When do you spend?

We have changed our thinking on this recently. Portfolio average total returns about 15% CAGR for last 5 years. Up till this year just spent divs. Now decided to take some money off the table. Spending a bit like a drunken sailor. More than doubled travel expense, planning 2 major reno’s for next year, large gift to daughter, would buy a couple new cars if needed but old ones are relatively new, lots on clothes, gifts, etc. Life is really good.

Edit to add. Just put a new car in the 2019 budget. Also, forgot we ordered a new boat for next year. Yippee.

 

[W2R]

This was my thought as well. Don’t spend now because you are concerned that the market will drop. Dont spend when the market drops. When do you spend?

We have changed our thinking on this recently. Portfolio average total returns about 15% CAGR for last 5 years. Up till this year just spent divs. Now decided to take some money off the table. Spending a bit like a drunken sailor. More than doubled travel expense, planning 2 major reno’s for next year, large gift to daughter, would buy a couple new cars if needed but old ones are relatively new, lots on clothes, gifts, etc. Life is really good.

I think you are doing just exactly the right thing! Now is the time to spend, I agree completely.

And thanks for the ideas. I am ready to spend like a drunken sailor too, just thinking about the best ways to spend it. I don't like travel, and my "dream home" doesn't really need any renovations. My daughter has more money than I do. I am thinking about buying a new car, maybe. Don't really need one yet.

 

[Danmar]

I think you are doing just exactly the right thing! Now is the time to spend, I agree completely.

And thanks for the ideas. I am ready to spend like a drunken sailor too, just thinking about the best ways to spend it. I don't like travel, and my "dream home" doesn't really need any renovations. My daughter has more money than I do. I am thinking about buying a new car, maybe. Don't really need one yet.

Well I wouldn’t spend for the sake of spending, but you might want to sell some stock and hold more cash in anticipation of future spending?

 

[scrabbler1]

I went on a small (discretionary) spending spree in the beginning of 2014. I bought my ladyfriend a better (refurbished) PC to replace the crummy one of mine she had been using for a while. Bought some clothes and a few other things, too. But it's comforting to know that one of these rare sprees won't bust up my budget, just use up some of the usual surplus I build into my budget. IOW, no big deal.

 

[W2R]

Well I wouldn’t spend for the sake of spending, but you might want to sell some stock and hold more cash in anticipation of future spending?

That's something worth thinking about, you're right. Friday my portfolio was larger than it has ever been before in my life. Seems like I have been saying that frequently during the past few months.

I might get a whole house generator and hurricane shutters.

 

[audreyh1]

Well I wouldn’t spend for the sake of spending, but you might want to sell some stock and hold more cash in anticipation of future spending?

That's what I do - keep taking all the income due according to my %remaining portfolio even if I don't spend it all in the current year. Whatever is leftover at the end of the year is available to spend whenever I want.

I much prefer to take the income out while the markets are high even if I don't "need" it all.

 

[kevdude]

We usually watch what we spend but do take nice vacations. Earlier this year I mentioned that our net worth hit a certain mark, so my wife thought “what the heck” and started to spend more than usual on nicer clothing and shoes. She recently bought a couple of nice jackets for the winter, thinking she would return one. But, decided she liked them both so is keeping them.

In August we spent about $12k on a Caribbean cruise and a few extra days at Atlantis in a nice suite. Over Christmas break we will be going to the Philippines, which will run about another $10k.

 

[haha]

With all due respect Robbie, I think you may have to move past luxury foodstuffs if you really want to move the spending dial.

I cannot make any sense out of Robbie's spending hobby, but it definitely is one of the more entertaining regularities of the board.

Ha

 

[haha]

This was my thought as well. Don’t spend now because you are concerned that the market will drop. Dont spend when the market drops. When do you spend?

We have changed our thinking on this recently. Portfolio average total returns about 15% CAGR for last 5 years. Up till this year just spent divs. Now decided to take some money off the table. Spending a bit like a drunken sailor. More than doubled travel expense, planning 2 major reno’s for next year, large gift to daughter, would buy a couple new cars if needed but old ones are relatively new, lots on clothes, gifts, etc. Life is really good.

Kind of doubt that any drunken sailor in the history of the world has ever had a shopping list that resembled yours.

Ha

 

[Moemg]

.

I might get a whole house generator and hurricane shutters.

That would probably give you a lot of peace of mind .We have hurricane proof windows and a generator but I am considering a larger one.

 

[Danmar]

That's what I do - keep taking all the income due according to my %remaining portfolio even if I don't spend it all in the current year. Whatever is leftover at the end of the year is available to spend whenever I want.

I much prefer to take the income out while the markets are high even if I don't "need" it all.

Yes, I thought of you when I posted that. I approach it a little differently though. Given my very good equity returns I have increased my WR somewhat (maybe 1-2%) with the expectation I will spend the excess over the next year or two. I would expect to reduce this WR if, as, and when appropriate.

 

[RobbieB]

From time to time I have thought of getting a generator. Mostly in the early days when the power used to go out with some regularity due to all the housing construction me thinks. Power much more reliable now, so not so much.

However if I do it will be powered by natural gas so all I'll need to do is start it and run it regularly and change the oil. Not have to worry about stale gasoline and draining same.

 

[W2R]

However if I do it will be powered by natural gas so all I'll need to do is start it and run it regularly and change the oil. Not have to worry about stale gasoline and draining same.

That's the main reason I don't have one yet. I am lazy and don't want to do the maintenance, even starting it and changing the oil regularly. And another thing is that I absolutely despise loud, scary machinery. It's easier to just go somewhere else where there is electricity, for a few days. Our electrical workers are amazing after hurricanes, and generally have the power back surprisingly fast, often in just a matter of hours. And, the power never seems to go out here except after hurricanes and even then, not always. OK, so I convinced myself, I don't really want or need a generator.

See? Spending money is harder than it sounds. I am sure something will occur to me eventually.

 

[NW-Bound]

? If one has an older car that runs well and is in good condition, why buy a new car that will lose $3,000 to $5,000 in value, when it leaves the dealership?

But not everyone looks at a car like you and I do: a means of transport.

When you love something, it's different. Why do women love diamonds? If one has to ask, he is never going to understand.

 

[RobbieB]

I can tell you that my girlfriend just loves hers;

I see her looking at it all the time -

 

[FreeBear]

And while we talk about booze, recently at my high-country boondock home when we had both children, my son-in-law, my niece and her husband up there, I opened the special Remy Martin bottle I brought back from Cognac, France (they claimed it was not exported to the US).

We were sitting out on the deck, around a firepit. In sampling and comparing it with other Cognac bottles, I found that I preferred another French XO that's 1/3 the cost. And that latter bottle is available at Total Wine. Hah!

Which one do you recommend? Do tell, I'm getting thirsty...

 

[FreeBear]

If you’re not spending now after 8 years of a bull market, you never will. What are you going to do when markets drop? Sell car and bike everywhere, pick food out of dumpsters?

That was my reasoning (excuse?) this year. I feel my SWR is on the high side overall, so I would have to cut back in lean years, in part for purely psychological reasons. It was definitely easier to enjoy spending this year...

 

[NW-Bound]

Some years ago, my wife got into that phase where she had to have a diamond "upgrade". So, I accompanied her to a jeweler recommended by my mother (who still loves jewelry of all kinds) to get that big bad stone.

Again, that was some years ago (maybe 25?). She got over it, and I wonder where she kept that ring. Hope she has not lost it.

Anyway, the inexpensive and good XO that I found at Total Wine is Chabanneau XO. It's real French Cognac, and just now I saw that it is made by Camus, a more popular Cognac house. Price is $55. The one that I brought back from France was Centaure Extra Old. I paid 150 euros.

 

[RobbieB]

Ah, Camus XO, I adore this stuff and it's on the list next BevMo run -