Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Old 01-11-2019, 07:15 PM   #21
Thinks s/he gets paid by the post
HI Bill's Avatar
 
Join Date: Dec 2017
Posts: 2,533
Quote:
Originally Posted by Dawg52 View Post
I guess this drives home the point that frugal living is still in my bones as I could not enjoy a $100 lunch.
I can and do, occasionally enjoye $300 dinners for two for special celebrations. But I do admit that I'm a little grumpy signing the check!
HI Bill is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-11-2019, 07:33 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
MRG's Avatar
 
Join Date: Apr 2013
Posts: 11,078
Quote:
Originally Posted by Dawg52 View Post
I guess this drives home the point that frugal living is still in my bones as I could not enjoy a $100 lunch.
DW and I enjoy several $50 lunches every week. Which is worse? I don't know but I'm curious what other people think.
MRG is offline   Reply With Quote
Old 01-11-2019, 07:35 PM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Mar 2016
Posts: 8,968
It was a lunch, but with my wife and beer and wine were also enjoyed.
RobbieB is offline   Reply With Quote
Old 01-11-2019, 07:47 PM   #24
Thinks s/he gets paid by the post
 
Join Date: Sep 2014
Location: The Great Wide Open
Posts: 3,789
While I have very frugal Scottish genes, I feel $2600 spent on California wine grapes and $800 on a French oak barrel was an extremely cheap deal. However, I'm sure that there are those that think it was an extravagant foolish expenditure and question my sanity and good sense. I will most likely spend the same amount next year although I don't need another barrel, 4 is enough.
Winemaker is offline   Reply With Quote
Old 01-11-2019, 07:50 PM   #25
Thinks s/he gets paid by the post
 
Join Date: Feb 2013
Location: Toronto
Posts: 3,320
I would have no problem increasing our expenditures but the 4 children keep me from going too crazy. Hoping to leave something for future generations. But in the meantime, not suffering at all.
6miths is offline   Reply With Quote
Old 01-11-2019, 08:23 PM   #26
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,169
Quote:
Originally Posted by Teacher Terry View Post
We are spending our money and don’t care about leaving our kids inheritances. We helped our kids when they were young and needed it.
I think that is a wise plan myself. I am helping my children as I can so that they will not need an inheritance in their 60's to be able to retire. They will inherit whatever is left over.
__________________
Comparison is the thief of joy

The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 01-11-2019, 08:24 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,169
Quote:
Originally Posted by Winemaker View Post
While I have very frugal Scottish genes, I feel $2600 spent on California wine grapes and $800 on a French oak barrel was an extremely cheap deal. However, I'm sure that there are those that think it was an extravagant foolish expenditure and question my sanity and good sense. I will most likely spend the same amount next year although I don't need another barrel, 4 is enough.
What? No investments on aging Scotch Whiskey?
__________________
Comparison is the thief of joy

The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 01-11-2019, 08:31 PM   #28
Recycles dryer sheets
Tree-dweller's Avatar
 
Join Date: Jul 2011
Posts: 402
Quote:
Originally Posted by pb4uski View Post

I don't mind spending money but I look for a good value but am willing to pay more for quality or convenience.

I’ll spend the money now for quality or convenience, but do I mind it....? Maybe a teensy bit. A couple years back I replaced our Elantra with a (used) Lexus. A definite not-like-me splurge, but it turned out to be the most comfortable, reliable car I’ve ever owned. Still surprised that I spent the dough on a car, though. Just have to remind myself that the kids are through college, the house is paid off, and we’re no spring chickens, but I’m still gonna wait til the Wednesday over-60 discount at Kohl’s to buy that shirt.
__________________
"The future's uncertain, and the end is always near. Let it roll, baby, roll." - The Doors
Tree-dweller is offline   Reply With Quote
Old 01-11-2019, 10:20 PM   #29
Thinks s/he gets paid by the post
 
Join Date: Nov 2013
Location: Bay Area
Posts: 2,745
+1 for being less frugal after retirement. My accumulation days are over and it is time to enjoy life. I have enough money to last my remaining life and then some (to leave it to my only child). No point being as frugal as before.
robnplunder is offline   Reply With Quote
Old 01-11-2019, 11:47 PM   #30
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,008
Quote:
Originally Posted by Gumby View Post
This always has been my philosophy. You quickly forget how little you paid for something when it turns out to be crap.
Yes but you remember forever how MUCH you paid for something if it turns out to be crap too
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 01-11-2019, 11:55 PM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,008
Quote:
Originally Posted by daylatedollarshort View Post
There is a difference between being frugal through deprivation and simply spending for good value. I like the good value part. I don't see a reason to change. Being retired we have more time to price shop and optimize expenses.
+1
I think of getting good value or being frugal as simply smarter shopping. Any fool can through down a thick wad of money to buy something, but the person who can get the same thing for less money is being smarter.

We were just on a Viking Ocean cruise a few months ago, while sitting talking, found out the fellow beside me was made, as he had paid $2,000 more for the same trip as us, at same stateroom level. All the while, he had been assured he was getting the best price possible by the cruise line.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 01-12-2019, 12:40 AM   #32
Thinks s/he gets paid by the post
 
Join Date: Dec 2010
Location: Midwest
Posts: 1,789
Quote:
Originally Posted by daylatedollarshort View Post
There is a difference between being frugal through deprivation and simply spending for good value. I like the good value part. I don't see a reason to change. Being retired we have more time to price shop and optimize expenses.
Well stated.

I think getting the best price for the best value is being money smart, not frugal. To me, frugal implies a certain sacrifice in life style to save money/survive. Being a smart shopper-ie: saving money on one thing and using that savings to treat yourself on another area is just good "business".

The opposite of being frugal should not have to be living the life of a spendthrift. It could be as simple as not sweating spending a little extra money now and then.
brucethebroker is offline   Reply With Quote
Old 01-12-2019, 01:16 AM   #33
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 9,358
Quote:
Originally Posted by Sunset View Post
+1
I think of getting good value or being frugal as simply smarter shopping. Any fool can through down a thick wad of money to buy something, but the person who can get the same thing for less money is being smarter.

We were just on a Viking Ocean cruise a few months ago, while sitting talking, found out the fellow beside me was made, as he had paid $2,000 more for the same trip as us, at same stateroom level. All the while, he had been assured he was getting the best price possible by the cruise line.

Right, it can be more than double the fun of paying full price. You had the enjoyment of the Viking Cruise, you had the fun of finding the bargain price and you can apply the $2K you saved on another cruise or some other bargain adventure.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 01-12-2019, 01:50 AM   #34
Thinks s/he gets paid by the post
 
Join Date: Jun 2016
Posts: 4,661
I’m with others who will pay for quality and convenience but want good value. I think we’re all more frugal in some areas vs others. We spend a lot on high-end groceries, dining out and travel because we enjoy these things. However we buy clothes at Target and Kohl’s and drive 12 year old cars with 160K and 130K miles on them. All a matter of priorities.
Scuba is offline   Reply With Quote
Old 01-12-2019, 01:55 AM   #35
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: NC
Posts: 21,201
I’ve also struggled with this since I retired over 7 years ago. On paper we could spend more than twice as much as we do, fortunately we’re comfortable just spending modestly. I tell myself we need to be conservative to make sure our money lasts if (FIRECALC) history does NOT repeat, and then we’ll spend more later in retirement - though I realize by then we will probably be so limited physically we can’t enjoy the extra spending. Catch-22? That’s exactly what happened to my Dad, he was only spending about 20% of his income for the last 10+ years if his life - sad. It’s a good question I don’t have an answer for either...

I don’t mind spending money, but I hate wasting money. So I too am always looking for good value, so I’m selectively frugal? And we keep things we buy longer than most people; cars, appliances, consumer electronics, clothes, sports gear, pretty much everything.

However, I also think this is another ER question that yields different answers for SIRE vs FIRE retirees. The more SIRE you are, the less need to LBYM?
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
Midpack is online now   Reply With Quote
Old 01-12-2019, 05:54 AM   #36
Thinks s/he gets paid by the post
 
Join Date: Aug 2014
Location: Chicago West Burbs
Posts: 2,998
OP here. Some interesting responses so far. Without tallying all of them, I think it turns out to be about 50/50. I believe that I'll am destined to be frugal, or LBY, or modest, whatever we want to call it, for the rest of my time here on earth. Not that that is a bad thing. We are still as comfortable if not more so than we were most of our lives. Only now we have a bit more financial security. That's a good thing. I simply hate spending more for things than I need to. I do find satisfaction when I've done my best to at least investigate lower priced sources whether it is a $10 item or a $10,000 item. I hardly ever look back and kick myself if I find a better deal afterwards. I did the best I could at the time.

Others have made it to the other side. Not me I think. My thoughts and actions along these lines may change with time. It is in my DNA I think. I'm in full retirement for only 1 year now. I still have time to grow into it.
CRLLS is offline   Reply With Quote
Old 01-12-2019, 06:05 AM   #37
Thinks s/he gets paid by the post
RAE's Avatar
 
Join Date: Jan 2005
Location: northern Michigan
Posts: 2,213
Quote:
Originally Posted by Chuckanut View Post
I still like getting good value for my money.

It takes time to change, but after a while one starts to realize that time really is much more valuable than money.

+1 to what Chuckanut said. I will always look for good value in anything I'm considering buying, as I don't like being taken advantage of. On the other hand, I am not averse to putting out a significant chunk of $$ for something that is a priority for us (like our annual winter snowbird trip south). And the older I get, the more I realize that time is the most precious commodity one has, not money. It's unlikely that I will run out of money anytime soon, but you never know when your time might be up.
RAE is offline   Reply With Quote
Old 01-12-2019, 06:54 AM   #38
Gone but not forgotten
imoldernu's Avatar
 
Join Date: Jul 2012
Location: Peru
Posts: 6,335
Could have, (maybe have) written a book about frugality. To sum it up... Two cars... total 40+ years old. Could easily buy a new Mercedes @ 45+K. But why? Total miles per year are less than 2000 now.

30 years retired... We are happy with what we have. Our lifestyle is just a habit, and not likely to change.
__________________
If you want others to be happy, practice compassion. If you want to be happy, practice compassion.
--Dalai Lama XIV
imoldernu is offline   Reply With Quote
Old 01-12-2019, 07:06 AM   #39
Thinks s/he gets paid by the post
 
Join Date: Jan 2011
Location: Fair Lawn
Posts: 2,938
There's always a fine balance between LBYM, frugality, and enjoying the fruits of a lifetime of saving for retirement. I don't think I waster money, per se, but I do freely spend according to our budget.
In my running heyday, I often flew to other states just to run a Half Marathon. I only run short distances now so no need to do that anymore. But I am an avid Bridge player. I spend in the area of $200 per month to play. Does that mean I'm not frugal? No, it means I am spending money I can afford on one of my leisure pursuits. NOT spending that, just to hoard my money, would be acting like a cheapskate.
mystang52 is offline   Reply With Quote
Old 01-12-2019, 08:19 AM   #40
Thinks s/he gets paid by the post
John Galt III's Avatar
 
Join Date: Oct 2008
Posts: 2,776
Slightly less frugal. I paid $585 to have a fuel pump replaced in my GTA instead of doing it myself. Mixed feelings about it at the time.
John Galt III is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Frugal and Cheap living are not good ideas dex FIRE and Money 118 04-12-2017 06:03 PM
Frugal-retirement-living.com BunsGettingFirm Life after FIRE 25 12-28-2010 06:04 PM
Frugal living: when is it bizarre? aida2003 FIRE and Money 149 06-30-2008 07:37 PM
How frugal is too frugal? setab FIRE and Money 36 05-18-2006 12:51 PM
Frugal living: It never hurts to ask... soupcxan FIRE and Money 21 05-14-2005 01:05 PM

» Quick Links

 
All times are GMT -6. The time now is 05:32 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.