My last post was about noticing little details in a granite countertop and in other places as we go through life. This post will be about little details that we need to pay attention to in our retirement life.
My wife and I recently made a trip to Wichita Falls, TX and stumbled upon a sign for the World's Littlest Skyscraper. Of course we had to follow the arrow and see what this was. We grew up in North Texas, about 2 hours or so from Wichita Falls, and have been there numerous times but never heard of this Skyscraper. We pulled down an alley and saw a tiny little four story building with the sign attached to it. We took a photo and thought it was a cute little building.
Once I got home, I searched the internet for the World's Littlest Skyscraper and discovered a fascinating story behind it. A man by the name of McMahon promised to build a high rise building in the city. He collected $200,000 (Over $3 million in today's value) from investors and built the building in 1919. Investors sued him because they had believed the building was going to be 480 feet tall. McMahon won the court case because the actual blueprints were in inches, not feet. McMahon disappeared with the remaining funds. This swindle is a textbook case of one needing to read the fine print. I can imagine that everyone in the room believed that the building was going to be 480 feet tall instead of 480 inches tall. I can imagine looking at the blueprint and not paying attention to something as small as the notation after 480 being a ' for feet or " for inches. A very small thing that made a huge difference in the size of the building.
This age old lesson can be applied by everyone in life and especially in retirement. We all need to pay attention to the small print and to the fine details that may be hidden. Pay attention to the rules of any subscription you may sign up for so you are not surprised when something changes. Recently, my car wash membership monthly payment went from $10 to $12. I asked the attendant about the increase last week. He said the $10 was an introductory fee and after six months it went to $12. This is a small detail that I didn't see or pay attention to. Not that it matters much in this case as I will still get more than my money's worth at $12. At least I didn't buy into a skyscraper!
Pay attention to the small details of all of your monthly bills. Recently, I looked over my phone bill and discovered a $17 a month charge for phone insurance. I did not sign up for this when I bought a new phone last month and had it quickly deleted. I'm sure the sales clerk just punched the button for that automatically and unless you notice it on your bill you could pay for months for something you didn't sign up for. Again, at least it wasn't a skyscraper.
Have you found any small print or little details that have added costs to something without your knowledge? What other examples can you think of in other areas of the retired life that we need to take a closer look at? Mind your inches and feet and save yourself some money!
I've been to the World's Smallest House. But upon googling to verify, I learned it was only the smallest in Great Britain.
ReplyDeleteI've been working more towards reading fine print, especially when given the time to do so as in job contracts or house purchase agreements. Where I struggle are those that we are forced to sign on the fly standing at a counter with people waiting behind me, i.e. like purchasing my new cellphone plan. I just blindly signed and will wait for the first bill to see if I understood it correctly.
Sometimes it would be impossible to read all the fine print on such things as the phone contract. Just check that bill for anything that doesn't belong.
DeleteI drive vendors crazy reading the small print. I do periodically review my automatic charges looking for changes. My internet just went up $18 a month. And it was due to the introductory offer. But, we are so happy with it, we are just going to pay it.
ReplyDeleteIt's always irritating when things increase. But, it seems like everything continues to increase in cost at a greater rate these days. Good for you reading that fine print!
DeleteAs a matter of fact, yesterday we received the renewal notice for the newspaper and the price had increased dramatically. Hubby called and was able to negotiate a much lower increase.
ReplyDeleteI have often had success making a phone call to negotiate a lower payment on a few different bills. Great job!
DeleteThe devils in the details..., you are right if we don't watch them, they will get us. Well put. I see you follow The No Way Cafe. Galen is a longtime blogging friend. Thank you for visiting the Retire in Style Blog Too.
ReplyDeleteDetails matter for sure. Thanks for your comment!
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