At AARP The Magazine, older Americans are treated as clueless about saving money

CLUCK, CLUCK: The December 2018/January 2019 issue of AARP The Magazine offered older Americans a lot of advice about their finances and how to save money. But one of the suggestions -- renting chickens and a coop for "really fresh eggs" -- was laughable, wouldn't save you money and would likely be barred by health ordinances.

By VICTOR E. SASSON
EDITOR

HACKENSACK, N.J. -- Judging from the endless stream of articles about money -- how to save it, how to invest it and how to keep it -- the editors of AARP publications must think their older readers are brain dead.

An article about money appears in just about every bimonthly issue of AARP The Magazine and AARP Bulletin, a tabloid issued 11 times a year.

Both are sent free to members of AARP, a U.S.-based interest group whose stated mission is "to empower people to choose how they live as they age."

Rent chickens?

In  the December 2018/January 2019 issue of the magazine, three pages are devoted to saving money, including an article called "Rent, Don't Buy!"

Readers are urged to "live it up and keep costs down by leasing" instead of buying a 19-foot RV, camping gear, a telephoto camera lens (when going on a safari), chickens and a coop, and jewelry "for your special event."

I crave the creature comforts of a hotel room -- not to mention the free buffet breakfast that comes with many of them -- and would never rent an RV for $1,300 a week or buy one and get eaten alive by insects at campgrounds.

Karen Cheney, whose byline is on the article, says you'd spend $16 on 4 dozen organic, cage-free eggs from a store, and $240 on 2 egg-laying hens, feed and gear for 4 weeks, but get about a dozen "really fresh eggs" each week.

Well, you can buy 2 dozen organic eggs at Costco Wholesale for $5.99 or 4 dozen for $11.98 so neither of her options passes the smell test.

Save thousands?

In a second article, Allan Roth outlines 8 ways you can "save thousands without being a Scrooge!"

Roth, identified as a financial planner for more than 20 years, discusses purchasing a car, picking good credit cards and uncovering a "hotel bargain," among other suggestions, but I believe I can save more money.

What really galls me is his selfish car-buying advice, which ignores many reasonably priced gas-electric hybrids and all-electric cars that can save older Americans money on fuel, help ease climate change and cut premature deaths from auto emissions.

"I take the time to shop for a good, small, modest sedan -- say, for $30,000 -- and drive it for a decade, more or less," Roth says. 

"It depreciates less than a $75,000 luxury sedan, I pay less sales tax, and my insurance is cheaper."

But in New Jersey and other states, you'll pay no sales tax when you purchase an EV or get other incentives, and you'll receive federal tax credits on many models, too.

The Nissan Leaf, Chevy Bolt EV and other moderately priced all-electric cars are ideal for the limited driving many older Americans do.

Cash-back credit cards

Roth urges readers to use "credit cards such as mine, which charge no annual fee and pay 2 percent cash back," so "you'll get $180 more a year" (after spending $1,500 a month) than with a 1 percent cash back card. 

I also have a 2% cash-back card, but use other cards that pay more cash back, including the Costco Anywhere Visa Card, which gives you 4% back on gasoline, 3% back on restaurant meals, and 2% back on purchases at Costco Wholesale warehouses and Costco.com.

There is no annual fee, but a Costco membership costs $60 a year -- which you'll get back many times over.

I have a friend who uses the card "for everything" and who received $1,100 cash back after one year. I received $450 cash back this year.

The Costco Anywhere Visa Card also has no foreign- currency exchange fee (usually 3%) when you are traveling outside the United States, and charging hotels, meals and other expenses in Canadian dollars, euros or other currencies.

6% back on groceries

And the Blue Cash Preferred Card from American Express gives you 6% back on groceries from ShopRite, Aldi and other supermarkets (but not on food bought at warehouse stores like Costco).

At my level of spending at supermarkets, the annual fee of $95 reduces my cash back to 5% -- still higher than any other cash-back card.

Hotel bargains?

Roth claims he uncovers "hotel bargains" by using BetterBidding and other sites, but ignores joining a hotel loyalty program that allows you to turn spending into points for your next vacation, getting free hotel nights or reduced rates.

For example, as a member of the Hyatt loyalty program, I'm guaranteed the lowest rates in Hyatt Regency, Hyatt House and Hyatt Place hotels, and receive a free night each year.

Both Hyatt House and Hyatt Place offer free buffet breakfasts of fresh fruit, juice, cereal, pancakes, eggs and made-to-order omelets.

As relatively new members of the loyalty program, my wife and I received two free nights at the Park Hyatt in Manhattan, where the average daily rate is $675 a night, after we spent $1,000 on the Hyatt Credit Card.

Read: A luxury hotel, dinner at Per Se

 and other superlatives

BIG REWARDS? I'm skeptical about much of the advice on saving money offered by Allan Roth, a financial planner.

BUGS ARE FREE: Renting a 19-foot RV  -- a "home on wheels" --had me thinking about being eaten alive by mosquitos at campsites, and missing the free buffet breakfast that comes with many hotel rooms.

Should you cash your rewards certificate from Costco or use all that moola to shop?

FISTFUL OF DOLLARS: Today, I cashed my second Costco Wholesale credit card reward certificate (cash rebates on warehouse and Costco.com purchases, gasoline, restaurant meals, travel and spending at other stores) at the Costco Business Center in Hackensack. That brought my total cash rebates this year to $451.91.

By VICTOR E. SASSON
EDITOR

HACKENSACK, N.J. -- I took the money and ran.

In the past, I'd use the cash rebates from my no-fee Costco Anywhere Visa Card to make more purchases at the warehouse in Teterboro or the Costco Business Center in Hackensack.

But that makes no sense when I can use Costco as an ATM and make those purchase with the Costco credit card, earning even more cash rebates.

My cash rebates -- awarded in February -- totaled $451.91 this year, including the $189.78 I received today. 

Compare that to my annual Costco Executive Membership fee of $120.

In August, when my membership automatically renews, I'll get another 2% cash back on my purchases by virtue of my executive membership.

I made a few purchases at the Costco Business Center on South River Street today, and charged them to the Costco credit card:

A large Golden Pineapple ($1.99), a 5-pound bag of grated Parmesan Cheese ($20.19), and a 24-bottle variety pack of flavored Poland Springs Sparkling Spring Water ($8.49).

AT THE COSTCO BUSINESS CENTER: My purchases today included a 5-pound bag of grated Parmesan Cheese I use in pasta, fish and egg dishes, such as those you'll find at Victor's Healthy Kitchen on YouTube.

Costco comes through with wild seafood: Fresh Sockeye, King Crab + Lobster Tails

Fresh, wild Sockeye Salmon Fillets, grilled on the stovetop and topped with organic diced tomatoes and fresh herbs from my garden, above and below.

By VICTOR E. SASSON
EDITOR

HACKENSACK, N.J. -- Tonight, I'm planning to make a big dinner of fresh, wild Sockeye Salmon grilled with ripe peaches and topped with pesto and garden herbs.

My wife just called from Costco Wholesale in Teterboro, where the skin-on fillets are $14.99 a pound -- $2 less than when the first-of-the season sockeye appeared on June 16.

I grill serving portions of the wild salmon on a stovetop grill, skin side down for about 4 minutes, then flipping them for an additional 3 to 4 minutes for medium.

On my wife's last visit to Costco six days ago, there was very little fresh sockeye to choose from -- only two trays, each weighing more than 2 pounds, and I asked her to buy another wild fish instead. 

On Tuesday, I saw fresh, wild sockeye at Whole Foods Market in Paramus for about $29 a pound.

More than $550 cash back

Meanwhile, I received and cashed my 2% reward certificate from Costco on renewal of my Executive Membership, which now cost $120 a year.

The certificate was for $192.56, covering purchases in the Teterboro warehouse and the Costco Business Center in Hackensack. 

That was in addition to the $365 in cash rebates I received in February by using Costco's no-fee Visa credit card to buy gasoline (4% back), restaurant meals (3% back) and travel, plus food and other items at Costco.

Shrink-wrapped trays of fresh, wild Sockeye Salmon Fillets showed up at the Costco Wholesale in the Teterboro Landing Shopping Center off of Route 46 for the first time this year on June 16.

Costco's Seafood Road Show also was visiting the Teterboro warehouse on June 16, a Saturday. Wild Cooked Red King Crab Legs and Claws ($22.99 a pound), above, and Wild Cold-Water Lobster Tails ($21.99 a pound) were among the frozen seafood available.

On June 17, Father's Day, I used the one Red King Crab Leg and one Claw I bought to make a salad with chopped sweet pepper, onion and celery, dressed with Dijon mustard, fresh lime juice and cumin, and added fresh mint and other herbs from my garden.

I also made a dressing for the Cold-Water Lobster Tail from herbs combined with more Dijon mustard, fresh lemon juice, extra-virgin olive oil, bread crumbs and sesame seeds. The tail weighed 1.29 pounds, as much as a small lobster. I removed the meat from the shell and baked the tail in the oven at 350 degrees for about 30 minutes until it was cooked through but tender. The tail served 3 with Red King Crab Salad and other food.

My wife returned to the Teterboro Costco on June 20, but found only two trays of Fresh, Wild  Sockeye Salmon, both with more than 2 pounds of fish. So, I asked her to buy Fresh Wild Haddock from Iceland ($8.99 a pound), which I baked in a preheated 400-degree oven for 15 minutes with Organic Spinach, Campari Tomatoes, pitted black olives, leftover herb dressing from the lobster tail, grated cheese, fresh lemon juice and extra-virgin olive oil.

Amid storm predictions and panic buying, I enjoyed an oasis of calm in Hackensack

As blizzard warnings intensified, the parking lot of the ShopRite in Paramus was packed on Monday morning, when I drove by on the way home from the gym. But the Costco Wholesale Business Center in Hackensack was the usual oasis of calm as I picked up fresh organic spring mix and a few other items, above and below.

The Costco at 80 S. River St. in Hackensack reopened about a year ago with a focus on small businesses, including restaurants and caterers, many of whom order by phone or computer and have everything delivered. The Business Center, open to all Costco members, stocks about 30 percent of the consumer items found at the bigger Costco Wholesale warehouse in Teterboro.

 --HACKENSACK, N.J.

By VICTOR E. SASSON
EDITOR

Wow, I said to myself as I drove by on Monday morning, I've never seen so many cars packed into the parking lot of the ShopRite in Paramus.

True. We'd been hearing dire predictions of a big snowstorm since at least last Friday on TV, radio, digital devices and the daily newspaper.

So, if the purpose of storm warnings is to stimulate the economy, they worked beautifully to get people to rush to supermarkets and buy food on Monday -- even if they didn't need it. 

We had plenty of food, but I ran out of Earthbound Farm Organic Spring Mix, lemons to make a salad dressing and a couple of other items, so I drove by the packed ShopRite on Forest Avenue and Route 4 and headed for the Costco Wholesale Business Center in Hackensack.

Besides the spring mix and organic baby spinach, I bought a 5-pound bag of big lemons for $6.99, Yoplait Original Low Fat Yogurt with fruit and 25% less sugar (24 for $9.99) and Kirkland Signature plain non-fat Greek Yogurt (two 32-ounce containers for $5.99).

Meanwhile, my wife drove her gas-electric hybrid to the gas station at the Teterboro Costco, waited longer than usual to fill up and left without going into the warehouse.

Costco's gas station, which sells regular for about 15 cents a gallon less than everyone else, is open to members and non-members alike.

But members who use the Costco Visa credit card get a 4% cash rebate on their fill-ups. 

A 1-pound clam shell of Earthbound Farm Organic Spring Mix, one of the tastiest salads you can buy, was only $3.69 on Monday morning at the Costco Wholesale Business Center in Hackensack, compared to $3.99 a week earlier -- the same price Costco charged in 2005. A 1-pound clam shell of Boskovich Farms Organic Baby Spinach also was $3.69, compared to $3.99 the week before.  

When I got home Monday morning, I prepared organic baby spinach with organic chicken broth, sesame oil, sake and Organic No-Salt Seasoning, and ate it with an egg-white omelet stuffed with reduced-fat cheese, smoked wild salmon and organic Mexican-style salsa. Everything but the sesame oil and sake came from Costco.

In Hackensack, Costco's Kirkland Signature Organic Large Grade AA Brown Eggs are a better buy than Nellie's Grade A non-organic brown eggs. Both are free range, and both cost $5.99 for two dozen eggs, above and below.

Hundreds of dollars in cash rebates allow Costco members to shrug off June fee hike

Costco Wholesale members who use the Costco Visa Credit Card received cash rebate checks in February for purchases in the warehouse store, and at restaurants, gas stations and other stores.

-- HACKENSACK, N.J.

By VICTOR E. SASSON
EDITOR

When Costco Wholesale says the check is in the mail, members know they'll soon be receiving cash rebates on just about everything they buy in the discount warehouse, as well as on many outside purchases. 

And that's why they just shrugged at news the warehouse giant will be raising membership fees on June 1 for the first time since November 2011.

The standard Gold Star membership will cost $60 -- $5 more than the current $55-a-year membership.

And the executive membership will go up to $120 a year from $110.

In addition to cash rebates from the Costco Visa Credit Card, executive members receive 2% cash back on the previous year's warehouse purchases when they renew their membership.

$260 and more to come

In February, my credit card rebates totaled about $260 -- easily more than double the $110 I paid for an executive membership, which also entitles you to Costco travel discounts and other perks.

Those rebates include 4% cash back on gas purchases at Costco and other stations; 3% back on restaurants and travel, 2% back on purchases from Costco and Costco.com, and 1% cash back at other stores.

I'll get another 2% cash back from Costco when I renew my membership in August at the new rate of $120 a year.

"A $5-$10 increase isn't going to break the bank for many Costco members, given that the average customer there has a six-figure income," The Motley Fool reported on Sunday. 

"As a result, there shouldn't be a big change in renewal rates, which have hovered in the 90%-91% range in the U.S. and Canada recently."

"Costco is unusual among retailers in that membership fees account for the vast majority of its income," says The Motley Fool's Adam Levine-Weinberg.

"Its actual warehouse operations barely turn a profit."

More grocery rebates

Although we spend most of our food dollars at Costco, we also buy produce, seafood and other items at ShopRite, Trader Joe's, Whole Foods Market; and two Korean chains, H Mart and H&Y Marketplace.

At those stores, I use an American Express Blue Cash Preferred Credit Card, which returns a 6% cash rebate on groceries.

Separately, H Mart has a loyalty card that gives customers a 1% rebate after they spend $1,000 ($10 back to be used in the store).

With the American Express card, I earned $275 in rebates on purchases at ShopRite and the other stores from May to December 2016.

The card has an annual fee of $95, up from $75 when I applied for it during a promotion that gave me a $150 credit (covering the annual fee for two years).

See: Sports fan finds major error in The Record

Last Tuesday, I used my $201.94 credit card cash rebate check on our weekly shopping trip to Costco Wholesale in Teterboro, where I bought two GEL Cloud Memory Foam Pillows for $9.99, above and below.

I made purchases totaling about $119, and received the balance of the rebate check in cash.

A favorite snack in our home are sodium-free raw almonds, which we roast in the oven and dust with cinnamon (275 degrees for 1 hour and 20 minutes). A 3-pound bag sold under Costco's private Kirkland Signature label was $12.99.

Another favorite is a 2-pound package of Jarlsberg Lite reduced-fat Swiss Cheese ($9.69), which I add to egg-white omelets or for a snack, roll up with smoked wild salmon and spring mix, and dip in Dijon mustard.