Thursday, September 18, 2008

Millionaires at what cost?

According to conventional wisdom, Bryan and I are doing the “right” things to retire millionaires: we invest monthly in our Roth IRAs, we live by a budget, and we buy groceries on sale with coupons (just last week, for example, I bought a box of Hamburger Helper for 33 cents). But since we “moved” to the lake house, I wonder if we’re missing something in our financial plan.

Since we’re going into business with the homeowners, we know their financial stakes and they live a frugal lifestyle. Can we speed our way to millionaire status by adopting a frugal lifestyle?

1. Eat anything and everything. In recent years, Mr. and Mrs. P have moved their parents into assisted living facilities. In doing this, they cleaned out their parents’ pantries. Now…they have 60-ish boxes of jello, boxes quick pearled barley, and a box of Dream Whip cake additive with the price tag typed on the box. But hey, if it's still good, what not eat it??

2. Save what's not eaten. When we initially “moved,” I was asked if we drank milk. We love milk but I will not freeze the partially-empty container if we don't finish it. On our first day here, I nosily checked the freezers' contents. My wishes of frozen pizza and mozo sticks were replaced with containers holding a tablespoon of enchilada sauce, 8 frozen egg yolks, and multiple bags of partially eaten bread loaves waiting to be made into bread crumbs.

3. Collect…and save to sell. When I had my c-section, Bryan borrowed a firm desk chair for me to use. As it turned out, Mr. P had multiple carbon copies of this chair (they're really nice!!). If you walk into his basement, you will find 8 organs (the musical kind), a case of baby formula (remember, no kids=no grandkids), tools galore, a set of wicker chairs, piles of 2x4 wood, and etc, etc, etc! Upstairs is more storage and 5 or 6 computer monitors, broken printers, stereos from 1980, and 15 year-old sports gear.

My question of the moment: how frugal is too frugal?

1 comment:

Lee-Ruth-Clark-Cal-Shanna-Haley-Elden said...

Lee and I got a kick out of this post. I am sure that being frugal also doesn't mean you keep everything. :) (I am sure you are thinking the same thing.) Made any bread crumbs lately?