When is enough enough?

Andrew and I received a dryer and washer when we got married. They were the dryer and washer he used while in college. The dryer was his parents original dryer when they first married.  This dryer has served well and relentlessly until very recently. A few weeks ago, the dryer started to make a rubbing, grinding noise while it dried. We've tried taking out clothes, only drying one load per day, that helped for a while, now it just seems like it's time to retire it.  Last Sunday, Andrew placed something in the doorway for safety.

Oh yeah a fire extinguisher. If you are waiting for your dryer to catch on fire does that qualify as a good time to buy a new dryer? Is this as funny to you as it is to me? Sorry I just walked through the foyer of my house and saw this sitting there and chuckled!