Comments on: Downsizing and the Sunk Cost Fallacy http://gotoretirement.com/2010/01/downsizing-sunk-cost-fallacy/?utm_source=rss&utm_medium=rss&utm_campaign=downsizing-sunk-cost-fallacy A Baby Boomer's Journey from Retirement Planning to Retirement Living Wed, 28 Jul 2010 18:04:36 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Kathryn http://gotoretirement.com/2010/01/downsizing-sunk-cost-fallacy/comment-page-1/#comment-2303 Kathryn Sat, 06 Mar 2010 00:22:26 +0000 http://gotoretirement.com/?p=4528#comment-2303 I recently went through the process of liquidating the mobile home and personal effects of a friend who died. She had a 2-bedroom mobile home and was a woman of fairly modest means, yet it was quite a process to move her things out. After that, I decided I didn't want to burden anyone with all MY stuff. My husband and I don't have kids, so I think to myself, "Either I use it, or I donate it and take the write off, or I sell it at Half Price Books or amazon.com or on eBay myself before I leave it to someone else to do so." Even with that commonsense game plan, I still find it difficult to let go of my stuff. Those were the Barbies I got when I was 12! That was the piano my dad bought me! I can't say I have an easy time of letting go of some of those things with sentimental value. Maybe I never will. I just decided it's a process that circles back, again and again. I just keep at it, a little at a time. I recently went through the process of liquidating the mobile home and personal effects of a friend who died.

She had a 2-bedroom mobile home and was a woman of fairly modest means, yet it was quite a process to move her things out.

After that, I decided I didn’t want to burden anyone with all MY stuff. My husband and I don’t have kids, so I think to myself, “Either I use it, or I donate it and take the write off, or I sell it at Half Price Books or amazon.com or on eBay myself before I leave it to someone else to do so.”

Even with that commonsense game plan, I still find it difficult to let go of my stuff. Those were the Barbies I got when I was 12! That was the piano my dad bought me!

I can’t say I have an easy time of letting go of some of those things with sentimental value. Maybe I never will. I just decided it’s a process that circles back, again and again.

I just keep at it, a little at a time.

]]> By: averagejoe http://gotoretirement.com/2010/01/downsizing-sunk-cost-fallacy/comment-page-1/#comment-2180 averagejoe Wed, 20 Jan 2010 15:56:17 +0000 http://gotoretirement.com/?p=4528#comment-2180 The secret is never to have purchased the 'stuff' in the first place. I buy one thing at a time and hold it till it is kaput! I don't go in for 'trends'. My 42 inch TV was purchased in 1995 and it works fantastically. My computer is 5 years old-a bit slow but I can hold on for another year. I just replaced my 5-4 year old digital camera (after it had already been repaired under warranty) but only because the same screen lines were appearing and warranty was expired. Plus, it needed a new battery. Rather than repair it or spend $50 for a battery, I replaced it @$149 plus $20 rebate. I've sold the old camera for $5 bucks (it still works OK). I have one item of everything. One item goes out, then another item comes in. No attic mess nor garage overload over here. I despise clutter. In the near future, however, I do want a digital reader and a smart phone but I'll wait. Right now, my iPod is a few years old also, but as I've said, it works fine, fulfills my needs and works great. The secret is never to have purchased the ’stuff’ in the first place. I buy one thing at a time and hold it till it is kaput! I don’t go in for ‘trends’. My 42 inch TV was purchased in 1995 and it works fantastically. My computer is 5 years old-a bit slow but I can hold on for another year. I just replaced my 5-4 year old digital camera (after it had already been repaired under warranty) but only because the same screen lines were appearing and warranty was expired. Plus, it needed a new battery. Rather than repair it or spend $50 for a battery, I replaced it @$149 plus $20 rebate. I’ve sold the old camera for $5 bucks (it still works OK).

I have one item of everything. One item goes out, then another item comes in. No attic mess nor garage overload over here. I despise clutter.

In the near future, however, I do want a digital reader and a smart phone but I’ll wait. Right now, my iPod is a few years old also, but as I’ve said, it works fine, fulfills my needs and works great.

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