10 Things Frugal Baby Boomers NEVER Buy

[@michaelschiemer3]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@Pconradsmith]

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

[@Rachadrian]

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@derrickholfman2]

@@Rachadrian this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

[@Rachadrian]

I've shuffled through a few advisors in the past, but settled with “Annette Christine Conte” her service is exemplary. I'd suggest you research her further on your browser, sure you'll find her basic info.

[@derrickholfman2]

Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.

[@GeorgeSickinger]

I am a boomer (1947) I bought a new Porsche in 1987 and a new Audi S3 in 2016 I still have both, they are well maintained and I expect to keep them for many more years. It’s not the cost but value for money.

[@Glide-USMC]

Boomer born in 1960. Only pre-owned quality cars, no debt, no latest iPhone, retired at 62 and my cup overflows. Great vid.

[@TheHarryleemartin]

62, disabled, we have a 12-yr-old Lincoln with 70,000 miles, no credit card debt, two homes paid for (one bought with inheritance). I think what may make Baby Boomers more frugal is that our parents were Great Depression children and raised us with frugal ways.

[@lcee6592]

i phone 7, newest car 2004, no credit card debt and no cable tv We love it!

[@DrSchor]

we dont love show-offs

[@lcee6592]

@ we don't love jealous people

[@kathycadenhead9813]

Same except 2005 car.

[@lcee6592]

@@kathycadenhead9813 awesome!

[@grumpychoi]

My battery caused me to get rid of my iPhone 7 because of battery, so upgraded to 12 mini! 😀

[@CIAVE]

iPhone XR, 5 years old. Home paid, 2 cars paid off (2014 and 2025). Zero debt. Minimal interest in travel. Simple needs and happy with little things...

[@DrSchor]

learn to use debt to become wealthy. you keep your own money, and invest other peoples money. a simple trick of those who know the path to riches

[@davidbundesen5867]

I’ve never in my LIFE bought an extended warrantee. And I’ve never regretted that decision.

[@sct4040]

PC Richard’s sales people will immediately lower the price of an appliance, in order to accommodate the warranty that I refused to pay for. I felt sorry for them, but if they didn’t do that I would still refused to pay for the warranty. 😢

[@Deltron6060]

Not on everything, but extended warranty has replaced 2 tv's, 1 fridge and 1 transmission. Definitely worth it for me.

[@LG123ABC]

@@Deltron6060 Maybe you should stop buying crappy products?

[@sufranklin4439]

If you buy a quality product, you don't need an extended warranty. It's better to pay a few extra dollars upfront than pay for a warranty.

[@GrannyLinn]

Boomer here, born in 1947. Bought my first new car in 2014, still have it and it runs great. House to be paid off in January (14 years). Our greatest pleasure is kids, grandkids and great-grandkids. Our life is awesome. My only real indulgence is 4 rescued kitties.

[@lonzo61]

I was happy to see that my photo was featured on this thumbnail image. Indeed, I am not only a thrifty boomer, I am a very hunky one, too--a hunk who drives a 2007 Toyota Corolla. Most of the cars I've purchased have been used, and have been Toyotas that are consistently on the list of top ten most reliable vehicles on the road. THRIFT rules.

[@margotchurchill5593]

We are a frugal retired couple, but usually buy new cars. We break them in with oil changes frequently for the first 5000 miles, and maintain them. They last about 20 years. Hubby still drives a 98 Saturn we bought new.

[@Gadfly247]

Don't have cable. Don't have the latest Android. Don't have any new cars (2 used). My current home is mortgage free. Don't smoke. Don't do drugs. Have a retirement that will last way past my life and will be a blessing to my children. So, grow up and don't become a narcissist!

[@sct4040]

So your kids will simply wait for you to pass? Give them $ now.

[@Gadfly247]

@@sct4040 I am actually doing that as well. Giving cash gifts to my kids this Christmas, and the amount has at least three zeros in it.

[@niteal1255]

​@sct4040 funny how ppl love to spend other ppls money, LOL

[@johnurban7333]

You can get the latest android phone for $150. That’s not too expensive. My kids make more money than I did and are very self efficient so I can spend my money as I please. Raise your kids not to rely on other people’s money and you won’t have to worry about them.

[@lizadivine3785]

You can still smoke, just roll your own. You will save $10 a day doing that.

[@ginaf2103]

Boomer here born in 1955. And you are correct!

[@ScooterOnHisWay2024]

People who rag on us Boomers with "Okay, Boomer" on YT wish like hell that they were Boomers too.

[@ginaf2103]

@ScooterOnHisWay2024 l think so too 😃

[@keithspencer6153]

I always buy a new car and maintain it well, keep it a long time. Economically proves the best move for me .

[@ericripley9739]

Last new car I bought was a 83 K- car. Since then, get late model used or off-lease and take care of it and drive it for years . Presently drive a 17 Outback with over 200,000 km with no plans to trade.

[@namastemcl]

Regarding McMansions my husband is in the HVAC business and laughs at people with large homes and high ceilings as they are expensive to heat and cool.

[@DrSchor]

Those people are wealthy, you silly girl.

[@MarcIverson]

They can be cheaper to cool if you live in desert communities like Phoenix, because the hot air rises well above your head continuously.

[@DrSchor]

@@MarcIverson the hot air rises in all communities. the thermostat is at eye level, so it does not record the temperature near the ceiling. so that hot air, never being detected, does not need to be cooled.

[@MarcIverson]

@@DrSchor All hot air needs to be cooled because it reaches through the entire house. Heat and cold leak everywhere they can. That's why I don't have to turn on my heating throughout winter, fall, and spring in my apartment, as my neighbors pay my heating bill for me. At any rate, if the hot air is above your head, whether it is cooled or not, you may well never notice. I was in Phoenix in multiple houses(looking for a buy and also just touring, as well as staying for a week with friends) and noticed how astonishing it was that even without air conditioning, the high-ceilinged houses there were still just moderately uncomfortable at most, to the point that fans could do almost all the cooling work, because all that hot air raced to the ceiling. I can easily touch the ceiling in California and many overbuilt and cheaply built areas like that. High ceilings are a huge help in pulling heat away from where you'll feel it in your day-to-day. When all the heat is racing up as fast as it can to a high ceiling, you may not be left with cool, but you are left with an absolutely dramatic difference. Also, I've never seen a thermostat at eye level in my life.

[@DrSchor]

@@MarcIverson still, heat rises only, think of hot air balloons, it cannot be cooled if not detected by eye level detectors, the air can stay safely hot where it cannot be detected, near the high ceilings and in the attic. no power wasted

[@Canadian_Living_in_Mexico]

I love your impulse buying of Oreos. It made me smile.

[@marknussbaum8394]

Thrifty boomer here, and agree with everything you say except about cars. I drive a pickup truck (and truly need one for my part-time business) and the average pickup truck is ridiculously oversized and loaded with expensive, unnecessary options. Recently I traded in my 2007 Toyota Tacoma for a new, pretty basic 2024 Nissan Frontier. It's very, very hard to find a used basic truck in that sweet spot of 3-5 years old, 20k to 50k miles. I can buy a new basic truck and it's almost (but not quite) the same price as a used 2-3 year old, decked-out truck. And, all those expensive options will break sometime. It can't break if it's not on the car to begin with. Finally, I know that my truck has been properly maintained and driven since new, and that's important to me. Just my opinion, good luck to all.

[@robertmatthews2009]

Water from a garden hose in summer tastes like my childhood, hot and rubbery.

[@DrSchor]

"hot and rubbery"? I am trying not to imagine what your childhood was like

[@whyme7996]

@@DrSchor You must not have had the joys of hot summers running around the neighborhood and being able to get a drink from any neighbor's garden hose. Hot and rubbery is a very apt description.

[@wyominghome4857]

Absolutely true. Our kids think we're eccentric. We think we're smart. :)

[@tonyg9130]

I’m the extreme opposite of an impulse buyer. I think about it for weeks before I decide to buy something

[@daveturner6612]

While I am retired with a good income from investing, as a young guy I worked construction, started with moving gravel piles for $10/hr. Money well spent is fine but $10 wasted reminds me of moving gravel on a hot day.

[@MarcIverson]

I tell myself to sleep on the idea of a purchase. If it still seems like a good idea to buy it when I wake up tomorrow morning, then I'll consider it. Most of the time I wake up and myself that question, and the answer is "No," sometimes with a palpable sense of relief.

[@scottb.2022]

Nailed it for us with the exception of buying a new car. We buy new, but keep them for a long time (our "newest" car it now 15 years old) and we don't buy fancy, high end cars, either.

[@wildtill9]

I am a firm believer of keeping them until they are undriveable

[@crosslink1493]

Mine is 20 years old, bought it new. The drivetrain still runs great but the rest of the car is failing (wiring and other plastic-type parts) so I'm looking at buying a new one in January when dealers are slow and need to get stock moving off the lot.

[@LG123ABC]

I have found 2 - 4 year old cars to be the sweet spot for me. You still get a vehicle that's practically new, but you avoid the massive deprecation hit that new cars take in the first couple of years of ownership. If you buy a 2-year old vehicle you can still keep it for another 20 years. A 22-year old vehicle isn't that different from a 20-year old one.

[@daveholt0]

There's the safety aspect too. I bought the cheapest car that had antilock brakes (new Acura). That was smart. Then I kept it so long that I missed out on years of safety improvements. That was less smart :-( . See "Car Talk" (boomers) for why you don't want to keep a car too long. Saving money isn't smart if you risk death or becoming disabled to do it.

[@genxx2724]

@@daveholt0 Absolutely. I had a tiny little accident that wasn’t even a fender bender. It was only a scrape. But the passenger in the other car was a rank opportunist and sued me, demanding millions, trying to clean out my substantial insurance and strip me of my assets. The driver was not injured and was not supportive of her claim. If my car had newer technology, the little accident wouldn’t have happened. The car would have beeped at me and might have even braked on its own. I suffered two or three years of anxiety leading up to the trial date. My car was a certified preowned 2009, and the incident occurred in 2019. I now have a certified preowned 2016 of the same model. If I had replaced the car earlier, the nightmare would not have occurred.

[@PulpFreePress]

Still rocking iPhone 6…replaced the battery myself several years back and it’s still running strong.

[@annam4313]

We must stop buying bottled water/bottled soda water. Thank you for the information, always learn something.

[@ommadammo]

I have running water in my home. You can drink the water from the tap. It's incredible if you think about it.

[@scott1572]

So what water should we drink while living in Asia? Out of the river system or straight from the tap? Which do you think is safer?

[@annam4313]

@@scott1572 I live in a South-Eastern inner Suburb of Melbourne (very expensive suburb) and have to admit that I did not install a water purification system, I will book it in and do so at least into my Butlers Pantry. I use bottled water/bottled soda water and re-circle the bottles (place it in the re-circle bin). Currently I have several bottled water in 4 fridges located in the kitchen, in the Butlers Pantry, in the outside kitchen, and upstairs. In my opinion, the tap water is drinkable in Melbourne, however when I am in Sydney I wash my teeth with bottled water.

[@annam4313]

@@scott1572 While travelling to the Philippines I stayed in an expensive hotel. I was very tired from travelling went to shower within minutes of entering the hotel room and washed my teeth under the shower. I was sick for 3 days, needed to see a doctor in a hotel.

[@LG123ABC]

@@ommadammo I prefer chilled water directly from my refrigerator door, thank you very much.

[@tamaravaughan503]

I don’t have cable or a TV. I live alone and stream on my ipad. I cannot tell you how many people are astounded by that😂Love the Oreo story❤

[@Zarga8]

Me too. Yes, others are stymied

[@larryhall7998]

I phone 6 here, most of the apps do not work, but I can still receive and make calls on it!

[@blurrylights6344]

My brand of water is Lake Erie on the Rocks. Tap water with ice!

[@julioblanco]

Oooooh, ice! Fancy🤣🤣

[@blurrylights6344]

@julioblanco I know how to go all out, okay! 😆

[@cleliaparnell8743]

😂

[@WilliamBarry-q3m]

One of my best financial lessons came from a boss. “Pay as you go and you go a lot farther”. I too like to self insure all my purchases- accept the risk myself. Needless to say I am way ahead, having rarely lost on the self insuring bet.

[@crterwil]

😊so true. I love paper bags! We drive paid for older cars. My iPhone is a few generations d and we drink our food well water for free. Don’t have cable. Still have a landline 😅

[@michaelfortney7510]

I agree with this. I will say that sometimes I do buy very high quality products because I’ve done my research and it will pay off in the long run. When I was a mechanic running my own shop that specialized in expensive German cars my customers expected to see me using only the best of everything. And overall it paid off. I also rewarded myself with an expensive watch. BUT I also drive a Toyota and Ford both over 300k miles. 😂 (no German cars for me)

[@LandParkColby]

Great video and so true ... one trick I do with my family - when we go to Costco for a semi-weekly shopping, at about 3/4 of the way through I ask everyone to put back one item that we could all do without. Something as simple as a seven pack of glass mixing bowls or a $40 car wax kit ... so we got the initial pleasure of selecting the items we really didn't need and the satisfaction of not actually buying them either!

[@janking2762]

Not going to Costco will save you even more.

[@johnurban7333]

Still drive my 1982 impala, have a landline, use my 19” Panasonic tube tv with antenna, drink tap water out of the faucet, play board and card games

[@francesguinta8614]

Really? Do tube tvs pick up and process the through the air digital signal? Analog tv was eliminated a long time ago.

[@rmcguirephoto]

@@francesguinta8614 You just need a digital tv receiver box. On the other hand, a basic digital tv is not very expensive these days, so the saving isn't really worth it unless you almost never watch tv.

[@DunRovinRanch-1969]

You nailed it. The only one I have is the stinking extended warranty on our vehicle. It bought peace of mind for my wife.

[@wandab3843]

As a Gen Xer, I am amused by the subtle shade in this video.😊😂😂

[@s0ld4u]

I always understood McMansions to be the tract home versions of real mansions.

[@javaskull88]

I like “tract mansions”

[@paperburn]

It is true. but quality (or lack of) was a big driver back then. go to a restaurant or go to McDonalds . They both feed you just one is higher quality and better.

[@Mary-tj5qx]

This is so spot on. I have a rule. I will spend money on experiences, and i will spend money on high quality things that endure - like furniture that is super comfortable and will be worth passing down to the next generation. What I won’t do is take on expenses. I ok at total cost of ownership of cars before i buy them. I also don’t take on overhead of any kind without a lot of consideration. I like having a very big gap between my fixed costs and income. then I exercise a lot of discretion with that discretionary income.

[@habbadabbado5765]

Yup! Proud owner of an iPhone 6S and get plenty of entertaining comments. Haven’t bought a new car since I was 22, although I do buy new for my wife every 12 years or so.

[@Louise-pe1un]

Yes, 6S! Perfectly ok for my needs. As long as it can still handle updates I won’t need to change.

[@markplenke]

I’d love for you to do a segment about car ownership, particularly for retirees. We sold our 10-year-old car at the end of July and don’t plan to buy another, ever. We live in San Francisco, so I can walk or take transit for everything I need (I know not everyone lives in a place where they can do this) and Uber or rent a car if needed. We don’t have licensing, fuel, maintenance or insurance expenses. I think lots of other retired people would benefit from doing the same.

[@thisorthat7626]

Vehicles are probably one of the top 5 expenses for most people. We have been taught to want the freedom regardless of how much it costs.

[@ScooterOnHisWay2024]

Roku costs < $40 as a 1 time purchase. With it, you still get more tv than you can possibly watch. Throw in a $12 old school antenna, and in most cities, you can get 2 or 3 local channels for news or weather. Vs $140+ per month for low-end cable tv mediocre programming. You pocket 1200+ per year, EVERY year.

[@Jsfrog]

Only extended warranty I buy is for refrigerators. The days of the family refrigerator lasting from when you were a little kid to when you leave for college are long gone. Ice makers in fridges break frequently. There is also no "perfect" refrigerator brand that doesn't break.

[@crosslink1493]

FYI: Buy the cheap refrigerator that has the freezer up top and the refrigerator space down below as they are the simplest builds around, almost always no electronics (just a simple electromechanical metallic thermal switch) and an old-school compressor unit. It'll be about $600 and it'll last. You can get them with optional icemakers that are easy to replace if they break. If that's not enough space then get a second one and put it in your garage as that will still be cheaper than a hi-tech refrigerator with digital controls, water dispenser, interior cameras. Got all this information from the owner of an appliance repair and parts wholesale business.

[@anthonyrybicki1000]

Boomers inherited WW2 philosophy from their parents and grandparents.They were also used to home products that lasted a long time and bought brands with reliable reputations. Alas cheap imported products are now considered disposable or replaceable terrible for landfill and the planet! Let's get back to a more frugal style of living including fewer trips overseas or expensive outdoor hobbies. The Banks love and encourage excess spending because it means borrowing on credit but capitalism has exceeded its reasonable bounds e.g. the 2008 bank crisis.

[@LG123ABC]

@@JBBF1977 Um, no. I've had refrigerators hooked up to a water line for nearly 40 years and have never had water damage to my kitchen. It did happen to a friend of mine once, though. Fortunately, his homeowners insurance kicked in and he ended up getting a free kitchen and basement remodel.

[@bbgg3127]

@@JBBF1977 Agree. Learned this the hard way. The leak is usually very slow & the damage may not be realized until it is extensive. Insurance only paid for a portion of the damage.

[@ValConB]

I agree with your comments for the most part. When we buy a new car, we always keep it for at least 10 years and over 150,000 miles. This makes it as good as or a better deal than buying used. l have always been very frugal (AKA tightwad). And now in retirement, I find that we have invested better than expected and now need to spend some extra money so we don't leave too much for the kids. So some of that frugality will need to go.

[@machintelligence]

Leave them enough to do anything that they want, but not so much that they can do nothing.

[@LG123ABC]

You can buy a 2-year old car and still keep it for 10 years and save a nice chunk of change. Avoid that big depreciation hit. Also, if you have too much money to leave to your kids you can always leave the rest to me. I'm willing to help out that way.

[@ValConB]

@@LG123ABC That is a good point (and I have done that myself many times); but on the other hand, when you buy new you get the added benefit of not having to worry about what might go wrong with that used car over the first 3 years of ownership. Worth the extra money in my opinion, but only if you keep the car for 10 years or more.

[@karinhart489]

The only “extended warranty” like thing we got was on a new Subaru full of electronic bells & whistles a few years back for the spouse. It turned out that some expensive electronic gizmo committed suiside after it was out of warranty, the extended warranty thing covered all the costs and provided a free rental car while the replacement parts sat on a cargo ship stuck in LA Harbor when the supply chain failed. We never had one before, & don’t expect to get another one… but it sure was nice in this case.

[@brucebolla4148]

You're the kind of guy I enjoy having a beer with. Always nicely done!

[@rosalindhb]

I still have one of the first "flat" Sony TV's. Its well over 20 years old. Still works great. I feel no need to buy a new one until this one stops working. I also cut cable years again. Although I feel like all the streaming services are getting as expensive. I cut my streaming services down to a couple. I also don't go to the movie theathers anymore. I wait until they are on video. I like my bathroom and popcorn better.

[@DrSchor]

precisely how scrooge would like today

[@genxx2724]

It’s also nice not to miss anything when you need a restroom break.

[@kjquinn7856]

Yep! You reach a point where you realize that the latest electronics are only marginally better than what you have. Many come loaded with extra features that are never used. Same with cars. Eight years ago, we bought a new car (which we still have) and on delivery, we were being shown all the features, menus, customization, etc. My wife remarked that she would never remember all that. The salesman looked sheepish and said, "most of these cars are leased and when they're returned at the end, nearly everything is still at the factory preset position." That in a nutshell told us everything we needed to know about the value of all those customization options.

[@noelfoley7359]

I'm 66 and live in SoCal. I drink tap water, but keep bottled water on hand in case of an earthquake disruption in water supply. If I die before the Big One hits (fingers crossed), my kids will "inherit" my 10 cases of Aquafina, lol.

[@fredflintstone2234]

I do agree. However, I bought the extended warranty on a mac G5 tower. Turned out to be a lemon. Fortunately I had the extended Apple Care. They replaced the G5 tower after about a year with a Mac Pro that lasted me 12 years! Best purchase ever!

[@FDR_progressive_liberal]

I drive a 22 year old car I bought used with cash. I bought an open box 75in TV for $350. It was an impulse purchase but a cheap one which is my Achilles heal. No cable TV and my entire wardrobe is thrift store, including a suede leather jacket I got for $6.50. I subsist entirely on SocSec and I'm actually increasing my savings right now. But enough bragging.

[@pxn748]

I buy most of my clothes at yard sales and thrift stores--not socks or undies though!

[@wildtill9]

isn't McMansions a play on McDonalds - something that is massively produced cheaply?

[@jjwintrs]

Precisely! 💡

[@crosslink1493]

Any small lot with a big house built on it that pretty much eliminates a yard. There are some in my town in the old 'downtown area, most on 30 ft wide lots that are 100 ft deep (estimates), 3-stories high. They have the same general footprint and exterior shape, only the exterior aesthetics and interiors are different.

[@LG123ABC]

@@crosslink1493 ALL the new housing developments in our town are like this. They cram as large a house as possible into as small a lot as possible. I really don't want to hear my neighbors going at it while I'm trying to eat breakfast.

[@crosslink1493]

I buy new cars but I keep them for 200K miles and by that time they need replacing. My cell phone came with the $35/month plan (2 years) and its a basic smart phone. I use a digital TV with a rooftop antenna and only stream free channels. No designer clothes, no bottled water, house is paid off, cheap refrigerator (no digital systems on/in it), the only extended warranty I bought was for my car and bought it through the car manufacturer (not what the dealer's preferred to sell me) and it paid off with replacement of a leaky water pump and leaky transmission seal for free.

[@LG123ABC]

You could buy a 2-year old car and drive for 200k miles and save a chunk of change. Those first couple of years are where the biggest depreciation hit happens.

[@wylde-lyfe]

As a retired boomer, I fit most of your listed frugal items, I live frugally/ well below my means. That doesn't however mean that I scrimp and avoid spending on things that make my life feel a little indulgent or comfortable once in awhile. Buying high quality or performance outdoor clothing, for instance, isn't about making a statement per se, but it tends to work better, fit better, last longer than cheaper available products. The occasional indulgence usually isn't a bank buster for me either, and if it seems worth the cost and I see it as something I will use often and get satisfaction from, why shouldn't I spend a little to treat myself? Many things we can do as hobbies aren't terribly expensive unless you go overboard on them (gardening, fishing, for instance). Some things are both cheap to do and good for you (hiking/ walking, bicycling, yoga, etc.). Life is short, live a little.

[@DrSchor]

confusing. do we splurge to live better or be frugal? Cant do both.

[@wylde-lyfe]

@@DrSchor all things in moderation; I live as I like to, mostly frugal but treating myself occasionally. Frugality is not an absolute. Splurging when it makes sense to me doesn't mean I'm not frugal; it's not cheating, but it makes my normally frugal life less austere.

[@esgwat]

What about K-cups for coffee? I think that is such a waste and bad for the environment.

[@bettykat8483]

I get 4 cups of coffee from 1 K-cup

[@noelfoley7359]

​@@bettykat8483What brand do you use? I tried that and the second cup was undrinkable.

[@sidecarmisanthrope5927]

Yep. Just a scam. People are paying 20 times more for their coffee.

[@roberteastman1396]

I gave you a thumbs-up because you make me laugh. No other reason. I'm really pissed about how older people are treated. Boomers realize that we are running out of time, so, everything follows from that.

[@mathrocks7591]

Thank you for putting chapter.

[@javaskull88]

I buy extended warranties on appliances that combine water and motion, like a dishwasher or washing machine. In my experience, they have absolutely paid for themselves.

[@JedRothwell]

Me too.

[@mikereddy-x9f]

Excellent discussion. BRAVO.

[@littleshopofelectrons4014]

I agree with all the points raised with the exception of cable TV. By the time you subscribe to enough streaming platforms to get the programs that you want, the cost may not be that much different.

[@peziki]

Try getting a Roku. So much there that you'll live a lifetime w/o seeing it all. Much more than cable. The initial purchase is abt $40 for the set up. EZ to install, then free viewing forever unless you decide to watch streaming specials.

[@steverichdrummr]

I bought my last phone about 2 years ago. Consumer Cellular, $60. It's funny, I can't figure out why, it calls the exact same people my friends' $2000 phone calls!

[@Aldo-d6z]

I get it that you can cut expenses to a minimum. But that becomes a whole different way of life. I’m a boomer and I drive a Camry, mortgage is paid etc. But I’m not going to live like a pauper. People that take things to the extreme in either direction are just making themselves miserable.

[@peziki]

Some of us out here LIKE the simpler things. Everything can be relative whether an optimist or pessimist. Being simplistic and/or minimal is not extreme.

[@fialee8ca132]

While being frugal is a good habit to a point. However, a lot of them miss out on some experiences in life due to costs. If you have the money and it won't impact you financial plan, spend it! Money does you no good when you are dead.

[@auntiali9344]

My response to extended warrenties is "are you telling me this is an bad product and it's going to break?" So I don't buy extended warrenties. I like to get new cars cause then I know what the problems will be when they come up. My cars are 10 and 14 years old: one a Honda and one a Nissan. Still have cable as it provides our internet and hubby can watch all his sports. Some used furniture, some new. No matching sets. My siblings think I'm crazy.

[@patrickmundy1966]

'59 boomer here. I'm on my 6th vehicle and 3 of them lasted over 10 years including my present 2014 Honda Pilot that was off lease. I'm also a techie and I'm on my 7th computer build (2020). Oh yeah, golfer too but 2 years ago I upgraded my irons after playing the Top Flight Professional Pluses for a good 31 years and I now have a set of Mizunos. After a divorce and a period of lengthy renting, I bought my house in 2015 (built in 1988) in another state, retired almost 8 years ago, and I'm remodeling it. I struggle getting out of my parent's depression era mentality as I have a very comfortable retirement.

[@jamesmorrell2901]

I rarely buy an extended warranty, but I did for my HP laptop/tablet combination. I'm glad I did: the original warranty ran out, and the entire screen and back assembly was just replaced under the extended warranty at no cost to me.

[@clbcl5]

Gotta practice the hand jesters for an Italian trip.

[@rmcguirephoto]

Gestures might be more useful, but jesters could be a lot of fun.

[@patriciaelms5340]

I happily drive a well-maintained 20 year old Toyota - love the cheaper insurance cost and tabs are negligible

[@patrickf.4440]

I'm 72 years old. I miss Sears and Roebucks. Interesting video.

[@bethiciaprasek1008]

One thing I do is spend way too much money at is a local restaurant where "everybody knows my name and they are always glad I came". Daily visitor. I view it as a good place to keep up social skills and study atmosphere. (Right now you guys are a study focus because real studying is too stressful with work and home stress (biggest is Dad passed a little over a month ago). Plus it encourages me to eat...something which can be a challenge for me.

[@joannaa.5101]

Sorry for your loss.

[@mrjuvy49]

So true, buy the 4 years old car with all the goodies, just bough a 2020 MKZ loaded, my wife loves it, just sold our 2012.

[@suewhite4821]

Absolutely true, Boomer here secondhand car 2007, refurbished phone refurbished tablet no smart appliances, secondhand washer, never buy brand-name clothes. debt free, house paid, travel a lot.

[@Alan-rt3se]

Good news--when you go to Italy, you will discover that most Italians speak enough English for tourists to get by without speaking Italian. It's a good idea to try and learn some Italian anyway, so good for you! By the way, I recently went to Italy, and absolutely loved it. (and I don't speak Italian)

[@UnlikelyToRemember]

Boomer here; iPhone 11; buy new, but drive into the ground (still have an '87 and an '89, for example)

[@winstonelston5743]

I compared several pre-owned cars four years old and around 40K miles, and found that the preowned examples of the model I was shopping were priced within an ace of brand-new examples. I bought new.

[@Mexicobeanpole]

As a boomer, I related to most of these. I love fashion, and I’ve had designer bags, but I always buy them at thrift stores for a small fraction of retail. We did buy a power boat though. A Sundancer, I think it was about $295k. We don’t regret it one bit. We lived in Florida and we took our siblings, nieces and nephews, parents and friends on so many memorable trips to the Florida keys, the Bahamas and more. Lasted about 5 years until we sold it. The kids are all grown and/or married and they still talk about being on the boat. No regrets. Somehow, we still managed to retire comfortably. lol.

[@Sylvan_dB]

Boat: a hole in the water you pour money into.

[@chrisgraham2904]

They often say; "The two best days of owning a boat is the day you purchase your boat and the day you sell your boat".

[@PhilbyFavourites]

BOATS…. Break Out Another Thousand… I speak from experience, but believe me it’s great fun

[@pxn748]

Born in 1959. I have an I-phone 12, a 15 year old TV, bottled water is a scam brought about by the soft drink companies to increase revenue, I bought a car at the height of the pandemic when they couldn't give them away!

[@hogroamer260]

So smart of those NY politicians to ban (recyclable) plastic bags. I spent two months in western NY this summer and brought a couple garbage bags full of plastic back to Florida to recycle. Every Monday I bring two or three from our food pantry to Walmart or Publix to recycle. When you play monkey-see-monkey-do, sometimes they make a monkey out of you.

[@mikeberg5003]

68 year old boomer and I agree with all of the points except the extended warranty. Not for everything but after buying a $3000 refrigerator in 2015 during a kitchen remodel that lasted 3 years before the ice maker broke and I had to literally defrost the freezer by hand. No extended warranty. 2 years ago we gave up and bought another fridge to the tune of $3500 with an extended warranty and just last week had to have a control module replaced. Withougt the warranty it would have cost $700.

[@josephthomas2226]

I am super frugal and retired at age 63. I won't buy ANY I-phone. a $400 android does everything I need and more. And I keep it for 3 years (or more). I am VERY frugal and we buy new cars. And keep them for their full life. My wife went well over 200K miles on hers before we replaced it, and my car is currently 18 years old. When we replaced her car it was only $3000 more to buy a new car than a 3 year old car. KZbin TV saves us a LOT. We downsized from 4000 sq ft to one third that size and are very happy. My wife DOES get designer clothes - at thrift stores! They usually cost less than 10% of the original price. I had a 45-year career in IT. I have NEVER bought a new laptop - I always buy used.

[@xlerb2286]

I agree with almost all of them. I certainly don't spend any money on many types of cutting edge electronics. But I was a software developer for my whole career and I still dabble, and I game. So I've got a pretty snazzy computer setup. But if you build the system yourself and avoid parts that are in high demand at the moment, like certain video cards, you can put together quite a system for the money spent. And expensive hobbies, not sure how I fare on that one. I do have a couple expensive hobbies but they're also hobbies where I could get my money out of them again and maybe even make a dollar.

[@javaskull88]

I’m generally frugal, but am presently fighting the strong urge to buy a not-really-necessary second (used) vehicle. It would be nice to have an SUV. But my ten-year-old Toyota sedan is running great, so I’m putting that off.

[@AnaViolinViola]

I usually have filter water, reusable bags and no car and no TV

[@goodenoughgirl8102]

I’m Gen X and I still have an iPhone7plus. 😅😅 My Gen Z son is astounded that it still does just fine. I personally hate having to learn some new device just as soon as I get the hang of the last one. No cable for over a decade. 2004 low mileage Jeep. (Bot it in 2014 lol). Lol. Well, you could say I do/don’t do pretty much all of these.

[@jonmoceri]

I buy new cars and drive them into the ground. I'm happy to wear old clothes, however, I buy shoes or boots that fit me best, regardless of cost. I live on a sailboat now. Whatever you do, don't buy a boat. If it flies, floats, goes fast or f*cks, rent it.

[@PhilbyFavourites]

5:13 I fell off my chair… (Aged 65 it took me a while to get back - but don’t worry I’m in the UK where we have the NHS. Just buy the powerboat and enjoy it. I did and they’re great fun. We don’t have kids so we are going to spend (still wisely) and enjoy ourselves. Being on the water is something I’ve done for over 45 years and in life you work up to the good things by being sensible and thinkimg long and hard about choices.

[@CarlosSantos-ln7xe]

Raised by Depression era grandparents. Their rule, don't spend money you don't have on things you don't need. Not don't spend money on things you don't need. Life is too short not to enjoy within your means. Retired at 51. Own my home and my vehicles. Financially secure. Don't owe anybody anything. Be smart but don't be afraid to live a little.

[@xlerb2286]

You see any video with "frugal baby boomers" in the title, you watch it. Even better when it's a Holy Schmidt! video.

[@bobfinnecy4231]

This is so true…I buy pants at Tractor Supply…haha…NOT DESIGNER!

[@topofmindwithterri]

Great content as always! Just referred you in a recent video on my channel (not that you need the referral). 🙂

[@carrotlover7763]

The thing about cars is that you are going to have to pay to maintain it not matter if you buy new or used. If you buy a new car, you will have a few years before you are paying for repairs (not general maintenance) whereas you may have to pay for repairs sooner on a used car; and you don’t know how the previous owner treated the car. My last car I purchased qualified for a rebate of $4,500 on my taxes in addition to the car I was replacing was part of the VW diesel buyback program . I received $15k for my Audi A3 TDI that had 170,000 miles on it. I ending up paying about $20k for my 2016 Audi A3 e-tron which is a gas, electric plug-in hybrid that gets great mileage. I don’t drive very much anymore, so I hope to drive it a long time, it is a great car and has the safety features that I like.

[@bigredmed]

Possible exception to the extended warranty rule is the Harbor Freight warranty.

[@wt9653]

😮 I bought 4 electronics in 4 months. But, I drink 2 cents coffee and faucet water.😊

[@MrMojo271]

I always thought McMansion meant it was a large home that looked exactly like the last one, but I could see cheaply built, too. I am older Gen X’er, iPhone 12 (just upgraded from XR), used cars my whole life, mortgage nearly paid, no CC debt, no debt at all, save a tiny bit left on the mortgage

[@dalecarlson7294]

Agree on a lot. Bought my iphone XS Max refurbished. Saves $$$$. In my possession for 4 years now. No issues. I agree on the used cars however I do like Lexus and bought my current one as a CPO. Got 2 years free maintenance plus the extended warranty that comes with CPO that has already paid off on one major repair as I keep my cars and drive them. What I learned is don’t buy German if you want a used luxury car as they are very expensive to maintain past 80k miles. Cord is cut. Home is paid for. Other car is paid for. No debt.

[@williewonka6694]

10 things this frugal baby boomer almost never buys; Cigarettes Lotto Alcohol Sugary drinks Fast Food New cars Movies TVs Whole Life Insurance Concerts/Sports events

[@DrSchor]

So you arranged things to force you into frugality. Sad. Me, I like have extra money to spend.

[@ericripley9739]

Basically agree with you. I like red wine , so here in Canada, Costco sells wine kits . A double kit costs about $90 ( Canadian) and makes around 60 750ml bottles.

[@jimfarmer7811]

I buy new cars because I can afford to. I still dont go crazy on expensive vehicles. The last vehicle I bought was a $24,000 Ford Maverick. Also my current phone is a 5 year old android for which I paid a whole $130.

[@20thcenturyrelic]

Thanks for the video! I feel you're generalizing a bit when saying that only people in certain age groups have impulse control. Although I guess you could argue we've had more practice at it.

[@johnmajkowski7200]

We boomers were parented by the generation that grew up during the depression and served in WWII and Korea. That gave us a stoic attitude. I have spent on lots of things to enjoy life better than my parents who were very frugal and dies with lots of cash without ever enjoying it. However I can take or leave material things and be just fine without them.

[@paulcarlachapman628]

Once in over 50 years of marriage we bought an extended warranty. It was on a used Prius because we knew they were expensive to repair. That warranty paid us back several times its price. Interestingly, once several repairs were made, we've driven the car for years with no more trouble. Hopefully, it has more years of good service ahead.

[@scrambaba]

McMansions are still getting built in western Canada. aka faux Chateaux. Usually they are situated on an acreage big enough to hold a 4 car garage to hold the family‘s 2 BMWs and 2 $140,000 pickup trucks. Oh, and a lawn tractor to cut that huge monoculture lawn.

[@toddfoster828]

Right off the bat. The only reason I (very late baby boomer) don't spend big money on the latest gadget is because I've been burned many times on the quality of that gadget. Oh, I do want to spend money on the latest and greatest gadgets, but I know they will be junk so I don't.

[@dbowles53]

Realizing the difference between a want and a need is something that a lot of people have a hard time grasping. That's why advertising tries to convince us that we NEED their product!

[@nikij.6058]

I have an iPhone XR! Not looking to replace anytime soon…always preowned cars. No cable TV. Lived in my 1560, square ft. 1953 brick ranch for 27 years! No need to downsize. It’s a perfect size. Never buy an extended warranty. Shop at Grocery Outlet.

[@thisorthat7626]

Love Grocery Outlet!! And my smaller 1950s house.