Do you regret saving too much?

[Eagle43]

Nope. I equate saving with my #1 financial rule. Be independent. As long as Vanguard keeps chugging along, I shall be independent and a beneficiary of compound interest; another nice rule. In keeping with the implication of the question, if you just can't spend money, then your survivors will do it for you. Hey, I did spend some this week. I bought a Plasma TV; then, had to buy larger home entertainment furniture for all the electronic equipment and the new larger TV set. See, I'm learning balance. Tomorrow I might go to Starbucks!

 

[dmpi]

Therefore, my question is, do any of you who are retired regret that you saved too much when you were younger? Do you look back and wish you would have spent a bit more to enjoy your youth, or your kids' youth? Do you now realize that you oversaved and you have more than you need, and you should have spent a bit more when you were younger?

If I had to do it all over again, I would have spent a bit more on our honeymoon and maybe bought a nicer house.
And the house thing is only because I can look back in retrospect and see that it would have been a good investement. Other than that I have no regrets. The best is yet to come.

 

[Ed_The_Gypsy]

Therefore, my question is, do any of you who are retired regret that you saved too much when you were younger? Do you look back and wish you would have spent a bit more to enjoy your youth, or your kids' youth?

I am certainly not guilty of oversaving, and that's one of the reasons why.

 

[aenlighten]

It was never money I was short of. There were and are many things I do not enjoy doing alone and so don't, but it was never for lack of money.

 

[Jay_Gatsby]

My hunch is, if you have to ask this question, you probably already have your own answer. If you feel like you are taking saving to an extreme, you probably are. No harm in loosening up a bit and enjoying the ride . . . you only get one go-round. (That is, of course, unless you feel "deprived" by not owning all the latest designer doo-dads and high-tech gizmos).

Dead on. I couldn't have said it better myself. It is important to keep in mind, however, that in loosening up, you don't go overboard. It is VERY easy to do this, as you get used to spending the extra money, and wants become needs.

For a long time I did regret going to night school for my degree while working full-time (it sucked). While I worked and took summer classes most of my friends partied and traveled around Europe. Although I probably saved something in the low six figures by going to school part-time, it wasn't worth it. But now with some distance, and with the prospect of being able to stop working before I hit 40, I don't feel so bad. While I'm looking forward to spending months on end traveling, learning languages, and pursuing many other ambitions, all of those friends will still be working 70 hour weeks trying to keep up with the payments on their new McMansions and kid's private school tuition. Although I may have missed out on some experiences in my 20's, I've righted the ship and put myself in a position to more than make up for it over the next 30-60 years.

Delayed gratification can be a very good thing. Imagine spending a few years in your 20s traveling the world and then having to work until you're 65, versus saving during those few years and retiring early at age 40 to travel the world for the next 20 years. That said, you'll only get one chance to travel with your 20-something friends before they (like you) get tied down with responsibilities. It is so sad to see a 40-year old acting like he's a 20-something in a desperate attempt to reclaim a lost youth.

 

[heyyou]

I'm so happy in ER that I don't regret any saving. Money wasn't ever a problem during my work years. As others noted, those good times weren't based on my financial condition, nor are they now. Feeling happy seems to be unrelated to spending, at least for me.

 

[JustCurious]

It is so sad to see a 40-year old acting like he's a 20-something in a desperate attempt to reclaim a lost youth.

Actually, I think it's quite charming.

 

[xmanz3]

Not at all.

 

[Nords]

It is so sad to see a 40-year old acting like he's a 20-something in a desperate attempt to reclaim a lost youth.

Funny, I was just hearing that the other day.

From my daughter.

 

[Jarhead*]

It is so sad to see a 40-year old acting like he's a 20-something in a desperate attempt to reclaim a lost youth.

No doubt about it , at age 40, one should probably take advantage of what little time he has left and get busy getting his estate together.

Unfortunantly, the "Damn Yankees" just paid $28,000,000.00 for Roger Clemens. (Age 44).

Act your age, Roger!

 

[REWahoo]

Act your age, Roger!

Yeah, just like this guy...

 

[Rich_by_the_Bay]

No doubt about it , at age 40, one should probably take advantage of what little time he has left and get busy getting his estate together.

Ya mean like this guy?

Jarhead: this is a quiz -- name that old-timer.

Hint: Cardinals, Yankees, Cooperstown.

 

[Eagle43]

I'm thinking Enos Slaughter?

 

[Jarhead*]

I'm thinking Enos Slaughter?

You're an Eagle-eye, Eagle.

 

[Rich_by_the_Bay]

I'm thinking Enos Slaughter?

Well done.

Born in 1916, something like 13 seasons batting .300+. Good ole boy from North Carolina. A little controversial regarding Jackie Robinson's entry into the big leagues. My memories of him are dim, in New York, number 9 before Hank Bauer who I believe replaced him in right field (also number 9).

My defining memory is when Enos (known for running -- not walking -- off the field at the end of each inning) would take off his hat to wipe his brow, and this big mat of white hair would pop up. Something unsettling about it in those days. These days, it's reassuring.

 

[Jarhead*]

Yeah, just like this guy...

Yep. Two peas in a pod.

About a year ago, SportsCenter did an hour long special, and stealing from the NHL, called the piece, "I went to a fight the other day, and a baseball game broke out."

I forget who the Manager was in Texas, but beings "The Express" hit that guy on the top of his head 4 or 5 times with his pitching hand, I'm sure his blood pressure went off the charts.

"No fool like an old fool".

 

[HFWR]

Don't remember anyone else charging the mound after that...

Ryan was a joy to watch; say him many times w/ the Strangers. When that curve and change-up were working...

 

[Eyerishgold]

I'm extremely frugal but that doesn't mean I never treat myself. To me, saving money is like a game. I'm really competitive so I want to win this game. It's fun for me to watch my investment and savings balances grow on a monthly basis. I don't think I'll ever get to the point where I feel I'm saving too much.

 

[Spanky]

Therefore, my question is, do any of you who are retired regret that you saved too much when you were younger?

On the contrary, my regret is not saving enough earlier in life.

 

[megacorp-firee]

NOPE! Retired almost 2 months now and loving it.
Would not be here if I 'kept up with the Jones', ...and we've had our share of overseas vacations, cruises, luxuries, ...etc. Just in moderation and WHEN affordable.

 

[Milton]

The answer to that is simple...

They simply do NOT raise their children.

Too true!

 

[Mach]

Therefore, my question is, do any of you who are retired regret that you saved too much when you were younger? Do you look back and wish you would have spent a bit more to enjoy your youth, or your kids' youth? Do you now realize that you oversaved and you have more than you need, and you should have spent a bit more when you were younger?

No. I can think of very little that would have enhanced my quality of life the past decade that involved spending more money. Neither my wife, nor I, enjoy traveling to any extent, which is often the non-material way to spend money to enhance quality of life.

For me, it's about doing the things I want to do.
LBYM rarely imapcts that, but working a lot does. Now, I don't regret having then and now working a lot, because it's for a reason, and a good reason. Even if I died tomorrow, it was not then retroactively a mistake to have saved. It would still be just as good a reason.

Regret is typically explained as one of two general forms:

1. I wish I could know then, what I know now.
2. I wish I had done what I knew at the time to be right, but emotionally I chose to do what was wrong.

#1 is usually a waste of energy to ponder. No time machines, do the best you can at the time and be proud, not regretful.

#2 is the real regret IMO, and that's because it's a failure of character, not of the reality of physics as #1 is.


-Mach

 

[Sandy]

I wish I had saved a bit more when younger, but mostly I wish DH had saved a lot more before he met me.

 

[JustCurious]

I saw this same question posted recently on the Bogleheads board...

Bogleheads • View topic - Do you regret saving too much?

So I thought I would bump this thread and see if there were any new thoughts on the subject.

 

[haha]

My thought is that anyone who does regret this, please send the amount that is bothering you to me. I will always be grateful, and will send you and your family birthday cards every year.

Ha