re: Seeking advice from the 60+ OT crowd

There is a huge difference between Wants and Needs. I want those LSU football season tickets but I need a new roof. You can watch the games on TV with a new roof that is not leaking. And you do NOT need an 84 inch TV screen to watch the game.

Refinance your home mortgage from 30 years to either 15 or 20.
Accelerate home mortgage payments. Instead of monthly payments, make your payments bi-weekly to save on the interest payments. Every year, check your escrow account for errors.

New vehicles with a payment period over 48 months is a sure way to stay in debt forever. You do not need the latest models with the huge 8 cylinder engines and the latest accessories. Look for used Hondas and Toyotas.

Take the maximum 401K contribution allowable. When you get paid, take 10% minimum and put it in a savings account. This is called paying yourself first.

Do the math about bringing your lunch to work. Going out every day for lunch will cost at least $10 per day, $50 per week and $3,000 per year. No problem going out once a week and you save over $2K per year.

Write down everything you spend in a given week, see what it is for a year and then justify your expense. Take the money you save and pay off debt.

Retirement is coming and it is a lot more fun if you are debt free.