|
|
Age old issue: the transition from saver to spender
06-19-2016, 10:33 AM
|
#1
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
Age old issue: the transition from saver to spender
Not anything terribly new here, but the very fact that these stories get written continually says you're not alone if this still rattles around your head from time to time...
Feeling guilty about spending savings in retirement - Jun. 15, 2016
Sent from my iPad using Early Retirement Forum
|
|
|
|
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!
|
06-19-2016, 11:07 AM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,327
|
It's not exactly guilt. It's a feeling I can't describe kinda like this feels too good to be true so something must be wrong. But I am enjoying the freedom. Thanks for the link. Maybe it will help me reduce my uneasiness.
Sent from my iPhone using Early Retirement Forum
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
|
|
|
06-19-2016, 11:13 AM
|
#3
|
Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,212
|
I know I'm having issues with this. Since I'm just 2 years into retirement... I worry about overspending... even though the calculators say I'm fine.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
|
|
|
06-19-2016, 11:18 AM
|
#4
|
Thinks s/he gets paid by the post
Join Date: Nov 2009
Location: SF East Bay
Posts: 4,342
|
The gentleman who wrote the question in the article said that he feels guilty about spending money on anything fun. I think that's a fairly common feeling among some particularly frugal retirees. They amassed their savings, in part, by strictly limiting expenditure on the discretionary "fun" stuff. It's only natural that spending fun money in retirement would represent a shift in thinking.
Notice how I used the word "they" so as to help create the impression this is an effect that happens to others
PS - I used the retirement calculator on that page, just for fun, and it informed me that my retirement age was too low, based on my birth year. Apparently, there is some "rule" thatt retirement is not allowed before the age of 55. Now they tell me!
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.
|
|
|
06-19-2016, 11:22 AM
|
#5
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
|
I have plenty to live on, but I do wonder what my / DW's long term care costs will be.
|
|
|
06-19-2016, 11:23 AM
|
#6
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
Pogo said it best: we have met the enemy and he is us! ;-)
Sent from my iPad using Early Retirement Forum
|
|
|
06-19-2016, 11:27 AM
|
#7
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2014
Location: Huntsville, AL/Helen, GA
Posts: 6,002
|
We're not the enemy. In our case, it's our kids.
|
|
|
06-19-2016, 11:27 AM
|
#8
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
I suspect for the vast majority here the high likelihood is that they will die with "too much" as opposed to "too little". I would also add that for the vast majority here that is not seen as a problem (for varying reasons).
From my personal perspective I'd like to end up with the proverbial porridge so to speak: not too little, but not too much.
Sent from my iPad using Early Retirement Forum
|
|
|
06-19-2016, 11:32 AM
|
#9
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2013
Posts: 9,358
|
We have a house full of stuff we are trying to declutter and there are lots of fun (to us) free or cheap things to do in our area so I don't see any reason to spend more just because we can. If we don't need it for medical costs, LTC or some unforeseen circumstances it can go to the kids and charity.
__________________
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)
|
|
|
06-19-2016, 12:10 PM
|
#10
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
|
I think it's a problem (though I have had worse).
All my life, the goal was to spend less. Now, the objective is different and a bit unfamiliar.
Working on it... Bought this insanely wonderful Dream House last year, just before the real estate bubble began here.
Now what? OK, regrouping first to check and make sure I can afford more than cat food and a refrigerator box under a bridge. It appears that all is well so far. I love my dream house so much that I don't need to spend much to be happy. Just wish I was 20-40 years younger, oh well.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
06-19-2016, 12:21 PM
|
#11
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
|
Quote:
Originally Posted by Major Tom
The gentleman who wrote the question in the article said that he feels guilty about spending money on anything fun. I think that's a fairly common feeling among some particularly frugal retirees.
|
I agree completely.
Personally spending inspires fear more than guilt. This must be what skydiving is like.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
06-19-2016, 01:47 PM
|
#12
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2015
Location: the prairies
Posts: 5,045
|
Quote:
Originally Posted by W2R
All my life, the goal was to spend less. Now, the objective is different and a bit unfamiliar.
|
That's how I look at it. Guilt has little to do with it...it's the changing of a lifelong and ingrained habit/mindset of frugality and saving.
I complained a week ago of spending an easily affordable amount of money on a music gear purchase. I finally did buy it, but it took me a week to pull the trigger. I had all the same old thoughts: Do I really need it? Is it an improvement over what I already have? Is it worth the money? Etc.
|
|
|
06-19-2016, 01:57 PM
|
#13
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,655
|
We are finding that the cost of having anything done for us is rising quite rapidly enough that we don't worry about under-spending.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
|
|
|
06-19-2016, 05:09 PM
|
#14
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
Quote:
Originally Posted by Amethyst
We are finding that the cost of having anything done for us is rising quite rapidly enough that we don't worry about under-spending.
|
Try telling that to the Federal Reserve...
Sent from my iPad using Early Retirement Forum
|
|
|
06-19-2016, 05:11 PM
|
#15
|
Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,867
|
A little bit of worry is a good thing... There's a young guy on YouTube wife, young daughter. He's cashing in his Ira to buy a sailboat and go cruising. Search sailboat story in YouTube if you're interested.. I find it amazing people will cast off on a shoe string...
Perhaps we could bottle our conservative money ways and sell it.
Sent from my iPad using Early Retirement Forumh
|
|
|
06-19-2016, 06:17 PM
|
#16
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
Quote:
Originally Posted by rayinpenn
Perhaps we could bottle our conservative money ways and sell it.
Sent from my iPad using Early Retirement Forumh
|
You'd go broke trying to sell "it". The ones that get it, don't need it; and, the ones that need it, don't realize they need it until it's too late.
Sent from my iPad using Early Retirement Forum
|
|
|
06-19-2016, 06:30 PM
|
#17
|
Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,867
|
Quote:
Originally Posted by LARS
You'd go broke trying to sell "it". The ones that get it, don't need it; and, the ones that need it, don't realize they need it until it's too late.
Sent from my iPad using Early Retirement Forum
|
Your right but I'm thinking the buyer wouldn't be the one needing and getting the dose...
Hey young big spender Be careful what is in your morning orange juice..
Sent from my iPad using Early Retirement Forumh
|
|
|
06-19-2016, 10:21 PM
|
#18
|
Dryer sheet aficionado
Join Date: Apr 2015
Posts: 33
|
'transition' issue
Quote:
Originally Posted by W2R
I agree completely.
Personally spending inspires fear more than guilt. This must be what skydiving is like.
|
yes, I am sorry that even though this is my first retiree weekend, I already have a touch of this uh... 'fear' you speak of. It is there. I am going to studiously ignore it and just say I am a sensible person and will leave it at that. E.
|
|
|
06-20-2016, 12:21 AM
|
#19
|
Recycles dryer sheets
Join Date: Nov 2014
Posts: 150
|
Back when I was picking beans in Guatemala partying at the Starlight Mountain festival in '94, I saw a poster on the inside of a converted old-school milk van, now hippy mobile, that spelled out F.E.A.R as:
Forgetting
Everything's
All
Right
I know the reluctance to spend after accumulation is real and do not mean to belittle it, but perhaps it may help to remember the above F.E.A.R. acronym.
__________________
The kids used to call me Captain Slow; now they also use Captain Cheap. I tell them, "Talk to the portfolio!"
|
|
|
06-20-2016, 03:37 AM
|
#20
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,410
|
I wonder if it's a matter of time and getting used to it.
After 11 years of ER, I'm just starting to relax and slowly coming to realize that "we're going to make it just fine". Like many, we started out RE spending quite carefully but over time you start spending just a little more and it all works out.
My general touchstone is having all the bills paid and ending up at year's end with more in the portfolio than when the year began (2008 excepted).
After a while (11 years might be overly cautious) you slowly come to the realization that 'yeah....we're good'
__________________
Living well is the best revenge!
Retired @ 52 in 2005
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|