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Old 11-08-2013, 04:03 PM   #21
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I think this was mostly a good adaptation. Without it, you may have taken up drinking or smoking, or quit work too soon, or just quietly gone around the bend.

Life cannot be led always in the future. Many of us understand and accept that, either intellectually, or behaviorally as you did.

Ha
Exactly. As one who is still working, the very small things are what keeps you going (otherwise I probably would take up drinking). My weakness is mochas. Given that I don't spend thousands of dollars traveling or on other huge expenditures currently, that I LBMM about 60%, I think I can indulge in a mocha. While I'm an extremely goal-oriented person, it's very true that life cannot be led always in the future. It's a balance, and only each of us can gauge what's right for us.
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Old 11-08-2013, 06:05 PM   #22
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Let me start by saying I haven't read the subject article yet, but what I fear most during retirement is the amount of free time to spend money.

Currently, while working we spend the majority of our money on the weekends. When retired everyday will be a weekend.

I would like to think we will adjust, mainly because of 1) the mindset that there are no more paychecks, and 2) we will have more time to shop for deals and flexibility with travel.

Thoughts?
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Old 11-08-2013, 06:14 PM   #23
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Let me start by saying I haven't read the subject article yet, but what I fear most during retirement is the amount of free time to spend money.

Currently, while working we spend the majority of our money on the weekends. When retired everyday will be a weekend.

I would like to think we will adjust, mainly because of 1) the mindset that there are no more paychecks, and 2) we will have more time to shop for deals and flexibility with travel.

Thoughts?
I was worried about that too. However, it hasn't been a problem. I now have time to shop for fresh, unprocessed food and cook delicious, healthy and economical meals. In fact my friends have been complimenting me on my cooking for the first time in my life! There are so many activities that don't cost any money, just time. For example, hiking in the local park that your taxes have paid for! I have established a budget with categories for sports and entertainment and so far I have a positive variance on both.

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Old 11-08-2013, 06:45 PM   #24
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Let me start by saying I haven't read the subject article yet, but what I fear most during retirement is the amount of free time to spend money.
That was a concern of mine too but it proved to be unfounded. While I did go back to work for a while after retirement we knew it was "temporary" income and when the job was over the unplanned-for income would end. While we did feel free to spend a bit more we saved about 75% of that income and that was a rate we were comfortable with.

And most important of all of course I wanted the freedom to walk away from the job when I didn't want it anymore or if/when things went sour, which they did, and so I quit.

All this does require the ability to LBYM, whatever those means are, something that alas seems all too uncommon.
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Old 11-08-2013, 07:00 PM   #25
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Let me start by saying I haven't read the subject article yet, but what I fear most during retirement is the amount of free time to spend money...
There might be some pent-up demand prior to retirement, and there was a recent thread about that. Many posters here splurged for a few years after retirement, mostly on travel.

I have some inexpensive pastimes like above posters. The only costly activity is travel, but too much of that and it seems like work to me.

Very few can be a perpetual traveler, hence people stopped or slowed down after the first few years. I have been reading blogs of full-time RV'ers who slowed down drastically after 3-5 years, and some even sold their motorhome and went back to a stick home.
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Old 11-09-2013, 09:19 AM   #26
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Thanks for the helpful responses, everyone.
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Old 11-09-2013, 10:56 AM   #27
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There are many things to do that don't cost a lot of money - hiking, biking, picnics, books and DVDs from the library, meetup groups and hobby / social clubs, reciprocal museum memberships, inexpensive hobbies like yoga and cooking, cook outs, picnics, free events at the parks, tide pooling, archery at the public ranges, gold panning, crafts and painting, free or discounted Goldstar tickets, etc.

We do much more but spend less on entertainment and travel since we cut back our work hours because we have more time to look for bargains and take advantage of unsold tickets, use library and park resources, and look for free public events. We could spend more but we don't really need to. It is a fun hobby for me in itself just finding entertainment options that don't cost a lot of money.
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Old 11-09-2013, 12:05 PM   #28
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Exactly. As one who is still working, the very small things are what keeps you going (otherwise I probably would take up drinking). My weakness is mochas. Given that I don't spend thousands of dollars traveling or on other huge expenditures currently, that I LBMM about 60%, I think I can indulge in a mocha. While I'm an extremely goal-oriented person, it's very true that life cannot be led always in the future. It's a balance, and only each of us can gauge what's right for us.
Yeah, I agree. I had a really rough week, and at the end of it, I had to treat myself to something, just to be kind to myself, give myself a little pickup or support. I thought about alcohol and similar substances, but I know those just make me feel crappy in the long run, so I stuck with ice cream, a night of goofy TV, and some video games.

When it comes to work stress, I do feel like I have to compensate myself sometimes, and that's a good thing to do. Otherwise, I feel deprived, not materially but emotionally, if that makes any sense. Buying myself a nice treat is a way of supporting myself, saying "good job, you made it, you deserve a reward."

Ever seen Extreme Cheapskates on TLC? I watched a bit of it on Netflix. Good lord. A guy who picks up bits of rice off the ground at his wedding. A woman who uses towels in order to save on toilet paper costs. There is frugal and then there is ... nuts.

Nothing wrong with spending a little to reward and support yourself. It can be tough out there.
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Old 11-09-2013, 01:12 PM   #29
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I have been keeping a spreadsheet of how much we reduced our expenses to semi-ER. So far we are at well over $100K, not including reduced savings. Most of it is from just cutting expenses and paying less in taxes. We still live in the same house and drive the same cars. It has been a real eye opener how much we could reduce our spending and still have the same basic lifestyle.

Just being home more we have saved money by having time to cook from scratch, analyze our taxes better, research financial aid for college, price shop, etc.
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