For seniors trying to make their savings stretch, spending on home repairs or new appliances can cause a lot of anxiety. Many are concerned, sometimes rightfully, about whether they will outlive their money.
But I’ve discovered other aging retirees—even those with an ample nest egg—who are simply too conservative when it comes to their finances, and as a result they do not make relatively small improvements or purchases that could have a tremendous impact on their quality of life. In these cases, just because “it ain’t completely broke” doesn’t mean you shouldn’t fix it.
Take, for example, my parents and the case of the temperamental oven and the troublesome toilet.