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Interesting article, sort of, but like most of these, the generalizations obviously cannot cover all of us.

One thing I smiled at was the idea of having life insurance. Has anyone managed to have that past, say, age 70 or so -- at any reasonable cost? I used to carry a hefty amount, when we were younger with a family, but as the kids grew up and moved on, and we got older, life insurance amounts began to drop away because (a) the companies no longer wanted to insure us (for obvious reasons) and (b) rates got to be ridiculous. In fact, I resent the adds in AARP magazines, for one example, because they still run huge ads for life insurance that costs a huge amount!

To the original point:

Over the years, my wife and I developed strong "shopping" habits, and it's very hard for us to blow money on food or other things that appear to cost too much for what we want! She still peruses the three major chain grocery stores we have in the area, checking on who is selling what, for how much. I have gradually begun to convince her to go ahead and "blow" money sometimes on things like a favorite candy or other food item, just because she wants it! Same for me!

We also still have trouble "wasting food" on our plates, for example, in a restaurant, because, when we were growing up we were always admonished to "eat your food; others are starving".

Old habits are hard to break, even when we now have reached a point when we simply don't NEED to spend more than we have coming in. In earlier times, I remember struggling to find money enough to pay our essential bills, and maybe pushing some things off "until next payday".

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