LBYMs what do you splurge on?

[Totoro]

Travel too.

And as long as I live in this overpriced city, rent. >50% of my monthly expense is housing.

 

[Nodak]

My weaknesses are high quality electronics and astronomy. Both ridiculously expensive.

 

[ejman]

Stereo gear and LP's for moi, mini horses for the wife. About $ 12k last year. According to Quicken, that's about 19% of our expenditures. I love this LBYM business!

 

[Mango1956]

Travel, good wine, art and the recent hot tub purchase-best splurgy present I ever gave myself!

 

[smurray5991]

Travel. (This year, will spend about six months on various US and international trips).

 

[RockyMtn]

Golf, travel and Vodka. Not necessarily in that order.

 

[robnplunder]

Wait. Some of you can no longer be considered LBYM'ng with stuff you are doing now.

 

[Options]

Horrifically frugal by nature, after LYBM'ing for so many years I have much pent up spending demand. So...just spent almost $4K on new bed, mattress (best sleeping experience of my life!), and bedding. Also just spent $2300 on a new sofa and chair. All should last 20 years or so because they're high quality. I've learned (the hard way) that quality lasts and is cheaper in the long run. Then just spent more than a few hundred on casual clothes because I have none.

Next spring I will buy a new MBZ to reward myself for making it to ER. I don't believe material things bring happiness, but they can bring satisfaction if bought wisely/optimally, which is something else entirely.

 

[Meadbh]

Wait. Some of you can no longer be considered LBYM'ng with stuff you are doing now.

Oh yes we can. LBYM is a mathematical concept. If revenues > expenses, you are LBYM.

 

[Options]

Oh yes we can. LBYM is a mathematical concept. If revenues > expenses, you are LBYM.

Perhaps what robnplunder means is we can no longer necessarily consider ourselves "frugal". I struggle with this, because after having been so thrifty for so long I almost feel guilty for how much I've finally been spending lately (even though it's still definitely LBMM).

 

[NanoSour]

Ditto Starbucks. French press Verona at a lb/week. Over $600/year on coffee. Definitely goes against my frugal ways, but have found none better for my dollar.

 

[Al in Ohio]

One nice bucket list level vacation destination per year.

 

[Chuckanut]

Personally, my biggest splurge is how I spend my time, not my money.


Sent from somewhere in the world with whatever device I can get my hands on.

 

[mystang52]

I don't see it as splurging, literally. But I do enjoy my bagel and coffee every day at the local bagel shop (as opposed to eating breakfast at home). I also buy "toys" such as handlebar speaker so I can safely listen to my music while cycling (this cost a whopping $40), and other miscellaneous items for my athletic hobbies.
DW and I take 2 vacations a year, and the occasional weekend trip. I don't see these as splurging....it's part of enjoying life.

 

[Chuckanut]

I don't see it as splurging, literally. But I do enjoy my bagel and coffee every day at the local bagel shop (as opposed to eating breakfast at home). I also buy "toys" such as handlebar speaker so I can safely listen to my music while cycling (this cost a whopping $40), and other miscellaneous items for my athletic hobbies.
DW and I take 2 vacations a year, and the occasional weekend trip. I don't see these as splurging....it's part of enjoying life.

+1


Sent from somewhere in the world with whatever device I can get my hands on.

 

[NW-Bound]

Wait. Some of you can no longer be considered LBYM'ng with stuff you are doing now.

The problem with living off your investments instead of a paid salary is that your "means" is not well defined. Is my means 3% WR, 3.5, or 4? And how about future SS?

As I have bragged about it before, when I input our future SS into FIRECalc and cranked up WR to just the point of failure, it told me I could spend a heck of a lot more money than I do now. Do I consider that level my "means"? I dunno.

I am actually spending much less now than when I was still working, mainly because my children are grown. But as more of the expenses are now for leisure compared to the past, I often feel like I am living above my means, even though I am still quite frugal.

PS. I am done with the house exterior staining for today, I think. That DIY work proves that I am frugal and LBYM.

 

[Ally]

Probably travel.

 

[Walt34]

Heat in the winter is one. We keep the house at 78 °F. Not-so-frugal in the grocery store sometimes. DW's paper towels. Photography gear and software for me. DW likes buying stuff for the grandnieces.

That's probably about it.

 

[38Chevy454]

My old cars. Have 8 vehicles 1937-1968 model years, plus more later model vehicles and big motorhome. The old cars actually appreciate in value, so at some point if i sell them they contribute money back into my pocket.

 

[eta2020]

The problem with living off your investments instead of a paid salary is that your "means" is not well defined. Is my means 3% WR, 3.5, or 4? And how about future SS?

As I have bragged about it before, when I input our future SS into FIRECalc and cranked up WR to just the point of failure, it told me I could spend a heck of a lot more money than I do now. Do I consider that level my "means"? I dunno.

I am actually spending much less now than when I was still working, mainly because my children are grown. But as more of the expenses are now for leisure compared to the past, I often feel like I am living above my means, even though I am still quite frugal.

PS. I am done with the house exterior staining for today, I think. That DIY work proves that I am frugal and LBYM.

LBYM depends on your age. For 70 or over I would use minimal IRA distribution calculator:

Required Minimum Distribution Calculator – FINRA

3.79% at 70,
5.65 at 80,
9.6 at 90.

You can't take to a grave.....

For someone below 50 2% withdrawal rate is LBYM IMO. But I am conservative ,other people may fell different....

 

[ksr]

Lately I've been feeling like having pets is a splurge, but one I'm willing to continue to pay for. The costs for high-quality cat food, litter, and particularly veterinary expenses, seem to have really escalated. But I can't imagine my life without at least one or two cats, so I will continue to spend for them

 

[grasshopper]

Living where I do the grocery store is travel. We are doing at least 2 plane ride trips every year. And it's not cheap, house/pet sitting $500 a week, a night in Tucson on the way out and the way back, $200. A hundred bucks in gas back and forth, $700 and we haven't left yet.

 

[Ronstar]

Travel, any tool related to woodworking, and any techno gizmo that I think I need to include camera stuff

 

[jimnjana]

Travel. Eating more organic and non processed food. Craft beer.

 

[pb4uski]

Our splurges are living on the water (the premium of living on the water over living in the woods which is where we would life if were were not on the water), golf, dining out reasonably frequently and travel. Grand total is probably 20% of our annual spending.