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Re: Do you regret saving too much?
Old 05-11-2007, 07:53 AM   #41
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Re: Do you regret saving too much?

Quote:
Originally Posted by REWahoo!
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".
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Re: Do you regret saving too much?
Old 05-11-2007, 09:14 AM   #42
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Re: Do you regret saving too much?

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

Ryan was a joy to watch; say him many times w/ the Strangers. When that curve and change-up were working...
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Old 08-28-2007, 05:30 PM   #43
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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.
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Old 08-28-2007, 07:25 PM   #44
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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.
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Old 08-29-2007, 02:18 PM   #45
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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.
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Old 08-30-2007, 07:40 AM   #46
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Originally Posted by Non sequitur View Post
The answer to that is simple...

They simply do NOT raise their children.
Too true!
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Old 08-31-2007, 11:38 AM   #47
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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.


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Old 08-31-2007, 12:30 PM   #48
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I wish I had saved a bit more when younger, but mostly I wish DH had saved a lot more before he met me.
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Old 06-22-2012, 10:54 AM   #49
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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.
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Old 06-22-2012, 11:05 AM   #50
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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
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Old 06-22-2012, 01:25 PM   #51
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Do I regret saving enough? Not at all. In fact the contrary. Though I'm a LBYM saver and investor, I still fear I haven't saved enough.
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Old 06-22-2012, 01:29 PM   #52
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Quote:
Originally Posted by Jarhead* View Post
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".
Ah, I remember watching that fight live on TV. Robin Ventura (now White Sox manger) actually was a pretty good ballplayer. Unfortunately for him, his noggin being shalacked by Ryan's punches is probably what he'll be remembered for.
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Old 06-22-2012, 01:55 PM   #53
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A few close calls with layoffs early in my corporate career solidified my savings habit. Now I have no regrets. The kids always got vacations and education along with a progressively better lifestyle. We hit FI a couple years ago and now don't worry about layoffs or job pressures, even though I still have a full time job. That would not be the case if we didn't save a good portion of our income. I've been broke and had money - I prefer money. Now I'm just getting older and starting to lose a little zip but that's the trade off.
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Old 06-22-2012, 02:37 PM   #54
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When we had kids at home, I would have liked to have bumped up to a bigger house. I regret that, but it wasn't my decision (my wife has roots growing from her feet).

I would have liked to have taken two weeks of unpaid leave every year and traveled with the family. I was concerned that wouldn't "show commitment" to the j*b and I would have lost a lot more than the two weeks pay. I don't know if that was true.

We've had multiple health problems since retiring, meaning that we haven't traveled like I had planned. So I wish we had spent the money and traveled more earlier.

OTOH, we've also had unexpected financial costs since retiring, it's nice to know we had a substantial cushion so we can cover them without worrying about paying the bills.
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Old 06-22-2012, 03:25 PM   #55
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I'll pile on to this ancient thread...

Perhaps I have saved too much... I don't regret it though.

But think of how great I feel now... No debt pressure like many of our peers

Also as Nords pointed out, you won't know till the end cause there just could be some very expensive final outcomes.

Should the world fall apart it never hurts to have a healthy margin to fall back on.
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Old 06-22-2012, 06:35 PM   #56
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I wrote this in my initial response in the Bogleheads thread:

"No. It is one reason I was able to retire in 2008 at age 45 and get out of the rat race for good."
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Old 06-22-2012, 07:01 PM   #57
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Old 06-22-2012, 07:27 PM   #58
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Old 06-22-2012, 08:04 PM   #59
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I just read the OP.

Quote:
Originally Posted by JustCurious View Post
Most of us on this board (including me) understand the virtue of LBYM, and the need to save a significant portion of our income during our working years so that we can achieve financial security later in life. However, I fear that some of us (including me) may take this to an extreme, and we might be foresaking some of life's pleasures while we are young enough to enjoy them, only to find that when we are older, we have more than we need or want.

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?
How much savings is too much savings? Heck, I did not even know the percentage of income that we saved, back when we were both working. I did not even track our expenses. I simply knew that being LBYM, we always underspent our income, ever since we got married and I started working full-time after college.

So, could we have spent more when we were younger? Of course! But would that make us happier? Doubt it!

We never crave fancy, fast, or new cars every couple of years. We always had a decent home (we have two now). We always went for 2 or 3 vacation trips a year with the kids. Right after we got married, it was simple road trips, and we stayed at Motel 6. Then, as our income and net worth increased over the years, we slowly upgraded to Hawaiian vacations, Caribbean cruises, and European trips, etc...

People may say that we were lucky to have such high income that we could not spend it all. Hah! Although our income was decent, it was never outrageous. And many of our peer friends are still toiling away. And I would not ask, but suspect our net worth now is higher than theirs.

No doubt, we have had some luck. That is we suffered no long periods of illness that we could not work. No layoffs either, although I suffered a few years of little or no pay, but it was my choice, working for startups for equities that are now worthless.

Only in the last few years that I have learned to calibrate our expenses in terms of % of our portfolio. And I am trying to keep it to 3.5% or less.

No, no regrets! Even if our portfolio grows up to the sky, like the most optimistic line in FIRECalc shows after 30 years, meaning I way underspend, I will regret nothing. When a guy has enough material stuff, he has enough.

And if somehow I end up with less, it would still be OK. In fact, even if I have less, much less, like some people who full-time in an RV in the boondocks and whose blogs I have read, that would not change my happiness level. Heck, some of them seem happier than me, most of the time.

Time for some music. I have posted this before in another thread about regrets, and will do it again here.

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Old 06-22-2012, 09:31 PM   #60
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Do I regret saving? Not at all. It has allowed me to be retired today. Otherwise I would be heading out to work tomorrow instead of going fishing. It is hard to imagine what you will need later in life but for sure, the more you save, the earlier you retire. The freedom will be worth it.
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