A real quandary....how to spend it all

[NW-Bound]

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Originally Posted by Chuckanut ... Would you like a ride in my Time Machine as soon as the parts I need to fix it are invented? That will be somewhere around 2062, I think. I'll come back and pick you up, but you will have to spring for lunch..

Forget about the Time Machine.

Will you share what is keeping you alive till 2062?

[Hamlet]

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Originally Posted by The Cosmic Avenger Trust me, a horse can definitely cure you of the problem of having too much money! But seriously, I would urge you to try the things you can afford but don't feel you need, the kinds of things people have already mentioned -- business class travel, expensive foods, upgrades to the house. Just find one thing you already like and try an upgrade to what you're used to. You don't need to spend down everything you have, but you certainly have earned the right to keep it from piling up, so to speak! And if you're looking for advice on blowing a lot of dough on whisky...actually, I can't help you there. I've tried some expensive (at least five digits per bottle) single malt scotches, and to be honest, I could tell the difference, but they didn't taste 100 times better than my current favorites, which I can usually pick up when they go on sale for $50-100 per bottle. (Johnnie Walker Green Label, which I think is better than the Blue Label, Glenmorangie Ealanta and Milsean, and Ardbeg Uigeadail.)

The new neighborhood I moved into in 2016 has a few whiskey drinkers/collectors, so I've been sucked into it a little bit. My experience has mirrored yours. Pappy is good bourbon, but there is no shortage of bourbon almost as good at a fraction of the price. My palate is not incredibly refined. Good is good enough for me.

The only expensive item I've tried that I would consider buying if I was just trying to spend extra money is Laphroaig 25. It's about $500/bottle. My neighbor gave me a pour and I enjoyed it a lot. However, I doubt I'm going to buy it when Laphroaig 10 is like $40/bottle. It gets me about 80% of the enjoyment for less than a 10th the price. I'll buy some bottles in the $100-$150 range once in a while to expand my knowledge and see if anything is so much better than my favorites that it is worth spending the money, but for the most part I just don't get enough out of them to spend the extra money.

[RobbieB]

I like good expensive booze. Yeah, nice rich flavor and no burn. Makes me wonder how they do it. I mean the stuff is 80 to 100 proof (like it all is) and it doesn't hurt or burn the pipes or the stomach. It's a pleasure w/o the pain.

It's a pleasure I'm willing to pay for -

[Sojourner]

Quote:

Originally Posted by Hamlet The only expensive item I've tried that I would consider buying if I was just trying to spend extra money is Laphroaig 25. It's about $500/bottle. My neighbor gave me a pour and I enjoyed it a lot. However, I doubt I'm going to buy it when Laphroaig 10 is like $40/bottle. It gets me about 80% of the enjoyment for less than a 10th the price. I'll buy some bottles in the $100-$150 range once in a while to expand my knowledge and see if anything is so much better than my favorites that it is worth spending the money, but for the most part I just don't get enough out of them to spend the extra money.

Totally agree with this outlook, although in my case it's in regards to wine and not whiskey. Even though there are certainly $50 or $100 or $500 bottles of wine that are spectacular and that I'd enjoy tremendously, they are not (IMHO) twice or 5x or 25x more delicious than my current favorite that I can purchase for $20/bottle. Honestly, every time I take a sip of that delicious $20 wine, I get an additional bit of enjoyment and satisfaction just thinking about what a great value it is.

[pb4uski]

Quote:

Originally Posted by Hamlet The new neighborhood I moved into in 2016 has a few whiskey drinkers/collectors, so I've been sucked into it a little bit. My experience has mirrored yours. Pappy is good bourbon, but there is no shortage of bourbon almost as good at a fraction of the price. My palate is not incredibly refined. Good is good enough for me. The only expensive item I've tried that I would consider buying if I was just trying to spend extra money is Laphroaig 25. It's about $500/bottle. My neighbor gave me a pour and I enjoyed it a lot. However, I doubt I'm going to buy it when Laphroaig 10 is like $40/bottle. It gets me about 80% of the enjoyment for less than a 10th the price. I'll buy some bottles in the $100-$150 range once in a while to expand my knowledge and see if anything is so much better than my favorites that it is worth spending the money, but for the most part I just don't get enough out of them to spend the extra money.

Buy yourself a Laphroaig 10 for $40, put it in the cupboard and wait 15 years?

[Throwdownmyaceinthehole]

Hey I adore my little sailboat. It's the joy of my retirement life and I get to sail several times a week I also suggest buying really good ukuleles!

[NW-Bound]

Quote:

Originally Posted by pb4uski Buy yourself a Laphroaig 10 for $40, put it in the cupboard and wait 15 years?

Not a whisky drinker, but I believe it has to be aged in a cask, same as with Cognac. Once bottled, the aging stops. It's not like wine that ages in its own bottle.

PS. A poster here once mentioned buying an entire oak barrel of whisky. The problem is that this bulk purchase is not allowed to an end consumer, only to licensed dealers.

[Elbata]

I would guess there are those who read this, long ago realized there's no way in hell they'll ever have a chance of running out of money.

I've been following my spending and I'm ~ a 1% WR. As I get older, life gets shorter, will cause time for a re-evaluation.

May be bogus, but Ray Kurzweil believes we'll find ourselves living longer lives. Maybe much longer lives. Doesn't hurt me to live a life now, perhaps considered frugal. I maintain kings could not dare dream to live one day of their lives that I live every day.

[traineeinvestor]

Quote:

Originally Posted by Chuckanut What? You can't predict your future? I am shocked! Shocked!!! Would you like a ride in my Time Machine as soon as the parts I need to fix it are invented? That will be somewhere around 2062, I think. I'll come back and pick you up, but you will have to spring for lunch. On problem with doing we LBYM type people is that often, like old generals, we are still fighting the last war. Most of us here won the war. Now we must win the peace which means using our time well.

If I'm still around in 2062, I'll be happy to provide a nice bottle of port (I have six bottles of 1966 Taylor's in storage) on hand when you pick me up.

Although there's a good chance I will have used my time too well and it will be gone by then.

[ncbill]

Quote:

Originally Posted by Elbata I would guess there are those who read this, long ago realized there's no way in hell they'll ever have a chance of running out of money. I've been following my spending and I'm ~ a 1% WR. As I get older, life gets shorter, will cause time for a re-evaluation. May be bogus, but Ray Kurzweil believes we'll find ourselves living longer lives. Maybe much longer lives. Doesn't hurt me to live a life now, perhaps considered frugal. I maintain kings could not dare dream to live one day of their lives that I live every day.

Only if it means living longer with a good quality of life.

Dad's male relatives all dropped dead around age 70.

He's almost made 80, but because of vascular dementia has no short-term memory, is confined to the first floor of his home, and is now having serious trouble maintaining the ability to walk even with regular physical therapy.

[erkevin]

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Originally Posted by NW-Bound Oh come on! How can you compare something so affordable and so good for you like good cheese to a boat that may just get you some headaches? And after spending money on good cheese, you will have plenty of money leftover to buy cheese for the people in need too.

cheese AND a boat

https://www.foodnetwork.com/recipes/...recipe-2100305

[NW-Bound]

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Originally Posted by erkevin cheese AND a boat https://www.foodnetwork.com/recipes/...recipe-2100305

You mean cheese IN a boat. Not a bad idea.

PS. I initially thought you meant eating cheese while sitting in a boat, until I followed the link.

[seattledan]

No advice on how to spend it but how much to spend....I would apply the 4% rule i.e. total assets x 4% = your yearly budget and feel free to spend the entire 4% budget without worry.

[whittonm]

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Originally Posted by NoOneGetsIt Ok....we have a quandary We saved our whole lives and lived beneath our means and retired early 50s. Now...how do we spend it all? We own our house We do need a new vehicle so that will be done But how do we break this tightwad mentality and how HOW can we spend it all? We like to travel and will but we enjoy doing I “on the cheap”. Help!

I have the same problem - how to switch from mega-saver to spender. I am donating a lot, giving money to family, flying business class, giving big tips to deserving service workers, buying the latest gadgets, and generally being as big a spender as my addled brain will allow.

[arch57]

Quote:

Originally Posted by pb4uski Buy yourself a Laphroaig 10 for $40, put it in the cupboard and wait 15 years?

Sounds like a plan but the distilleries keep it aging in oak barrels, which influences the overall flavors.

Overall in many "discretionary" items there is always that 80-90% enjoyment for 10-20% of the price. Been there, done that!

[sengsational]

One wise person suggested to me, when I said I had a hard time with "frivolous" spending:

Quote:

Try it and just see how it feels.

I did. I picked out something pretty "big" that was out of my comfort zone considering "needs", "wants", "price", "ROI", etc, and paid-up. It felt "uncomfortable", but not "bad". Then I tried again. Something a little farther away from the comfort zone. The world didn't end.


It's a process, not a destination.

[joel2125]

I would say keep up the cheap tight wad style that you have been successful with except that you should help your kids out ie. buy them a new set of tires, give them some money. The kids need the money. You have been presumably happy with your approach to money so stick with it. PEACE OF MIND is worth a lot. Sleep with your bank statement under your pillow!

[lawman]

I am right there with you..Difficult to make a saver into a spender..I'm trying hard though..I now change razor blades almost weekly..

[Retch The Grate]

Quote:

Originally Posted by NW-Bound A poster here once mentioned buying an entire oak barrel of whisky. The problem is that this bulk purchase is not allowed to an end consumer, only to licensed dealers.

Family friends have an oak barrel of whiskey. They filled it with cheap stuff, let it age a while, and started drinking out of it. They just pour more cheap whiskey in to replace what they drank, and the mix keeps on aging. Apparently gets them aged whiskey experience at cheap whiskey prices, after an initial barrel and time investment...

[Mansderm]

I bought an Airstream interstate and hit the road. Goal is to see all national parks, all of the lower 48 states over next couple of years, then probably sell the RV. Air streams hold their value pretty well and the Airstreamers are some of the most amazing people you will ever meet. I still have a home and mentally need a home base. You can camp cheap or camp in "luxury". But it's great getting out meeting people, seeing incredible places. You'll find many are like you...worked hard, saved, invested, and now "living" in retirement or semi-retirement. Some have developed businesses out of the RV, some sell crafts at rally's, some just have fun, and others get in tune with nature. Some drink fine wine and liquors, others still live frugally. I like the Interstate because it's easy to drive and if it feels too cramped, you can always pull into a hotel. The hardest part mentally is seeing your net worth decline instead of grow but if you have good investments, it goes up and down like a tide. I retired 5/2017 and my net worth is basically where it was when I retired despite my spending quite a bit. It's been up and down. You worked hard. Enjoy!