December 28, 2009
During this week of holiday visits from children, I came in for some subtle criticism that I'm cheap. My daughter-in-law said that it was nice to have real toilet paper in the bathrooms for a change, since I usually purchase the billion-sheet thin-roll kind. I heard from my older son that it was too bad that I wouldn't spring for a semester of Montessori School for my "only" grandson. My boyfriend likes the quote, "It's only money," every time I hesitate before pulling out my credit card. So what to make of all this? Am I cheap? I don't think so. I'm careful. I pay off my credit cards every month. I save for major expenses like buying a car, big trips and unexpected expenses. I do all this when most everyone around me seems to see it differently, embracing the moment and the slogan "Live now because who knows what tomorrow might bring." Hey, I can buy into that based on what's happened within my circle of friends and family...death, divorce, illness etc. But everything I read about women and retirement, tells me I need to hold on to my nest egg, try to grow it and stay out of debt at a time of financial uncertainty and transition. Wife.org makes this case many times over. Bottom line: My kids won't like it, if I show up at their house when I'm 75 to live in their basement with only a Social Security check to buy groceries. Research shows that 47 percent of women 65 and older are single and more than 20 percent of those are living at or below the poverty line. So when this holiday season ends, I'm back to the cheap toilet paper.
