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Old 04-29-2015, 04:53 PM   #41
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Nor did they foresee me buying a bright-red, sleeveless, Calvin Klein bandage wrap dress, but I did, and now we have to find a suitable restaurant for me to wear it to, along with the high heels bought to go with it
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Last month, OTOH, I spent $750 on a pair of ostrich boots. I'm 62 and I'm sure the marketers didn't see that coming!
Woo hoo!!! Amethyst, you and Athena53 will both be going out in style!
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Old 04-29-2015, 04:58 PM   #42
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And on the same note:

https://www.facebook.com/WOMENSRIGHT...7/?pnref=story
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Old 04-30-2015, 10:30 AM   #43
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We are working on spending more now. But I still can't bring myself to buy business class tickets on international flights.

Maybe when we are in our 60s and finances still look good (knock on wood!!!) I'll be willing to spend more that way.
Business class travel is the one luxury that we wish we could afford. We'll revisit later in life too. Now, we're rather go on a second trip with the money not spent on the upgrade.
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Old 04-30-2015, 11:07 AM   #44
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My dad passed away at 78, but he retired in his 50's and had time to hunt, fish and travel. He took great pride and worked his garden in the later years. My mom passed away at 81 (7 years after Dad) and spent the last six years in assisted living. SS and partial payment from dad's pension paid for most expenses. Her nest egg was proceeds from selling their home. Mom continued to travel until the last 2 years when serious health problems prevented anything more than a lunch date.
My in-laws are early 80's and having health issues and seeing many of their friends pass away. They are homebodies and don't spend much at all except maybe an inexpensive lunch or dinner out. Same with the aunts and uncles in both our families. It seems that their best days in retirement were in their 60's up to early 70's. Then health issues either prevent or discourage activities or opportunities to spend. However, my mom did like to spend money on clothes...especially shoes, but her shopping was done online.
My in-laws do not want to hire help - DH ends up spending his days off doing maintenance on their home. So, I doubt they spend much at all except for possibly medical.
My take-away form observing my family and in-laws is to enjoy the active retirement years while young (60's and 70's) and simplify living arrangements for the latter years.
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Old 04-30-2015, 01:10 PM   #45
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Business class travel is the one luxury that we wish we could afford. We'll revisit later in life too. Now, we're rather go on a second trip with the money not spent on the upgrade.
That's our problem too. I can't help but compare the extra cost with how many more weeks in Europe would be funded!

I actually checked the price of our tickets in business class yesterday, and it was $11K more! I did buy our economy+ tickets a month ago, so it's not a completely fair comparison.
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Old 04-30-2015, 01:58 PM   #46
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I actually checked the price of our tickets in business class yesterday, and it was $11K more! I did buy our economy+ tickets a month ago, so it's not a completely fair comparison.
It fluctuates a lot. I remember RT Business Class fares to Europe were around $2,500 in late 2012. I suspect they charge what the traffic will bear and people are going to Europe to take advantage of the strong dollar.

We're paying $4,200 for 2 Business Class fares from Boston to Iceland in August. I've since discovered that they have plenty of flights to Europe (Glasgow is another 4 hours) so we may do a future trip with a few nights' stopover in Iceland. We LOVE Scotland and this is one way to get there without going near Heathrow. Win-Win!
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Old 04-30-2015, 02:08 PM   #47
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My wife and I have been to Hawaii twice on first class tickets, I've been to Europe twice first class, and this June we are celebrating our 25th and going on a 5 country, 15 day trip.... first class on Virgin Atlantic. And every one of those tickets have been free (some taxes and fees though).

We play the Amex and frequent flier game hard. We buy groceries, gas, lunches at work, and every single thing that we can with Amex. I also have a Chase VISA card with reward points that I use anywhere that I can't use Amex.

We never carry a balance month to month on any card that we have.

So few people (fiscally conservative and disciplined people) really milk the credit card industry well. We are not the customer they want. I'll take the card with the best perks even if it has a 21% interest rate because I don't pay interest.
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Old 04-30-2015, 04:53 PM   #48
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My wife and I have been to Hawaii twice on first class tickets, I've been to Europe twice first class, and this June we are celebrating our 25th and going on a 5 country, 15 day trip.... first class on Virgin Atlantic. And every one of those tickets have been free (some taxes and fees though).

We play the Amex and frequent flier game hard. We buy groceries, gas, lunches at work, and every single thing that we can with Amex. I also have a Chase VISA card with reward points that I use anywhere that I can't use Amex.

We never carry a balance month to month on any card that we have.

So few people (fiscally conservative and disciplined people) really milk the credit card industry well. We are not the customer they want. I'll take the card with the best perks even if it has a 21% interest rate because I don't pay interest.
We take advantage of rewards on credit cards too. But I prefer them in cash rebates or credit rather than miles.
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Old 04-30-2015, 05:16 PM   #49
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My wife and I have been to Hawaii twice on first class tickets, I've been to Europe twice first class, and this June we are celebrating our 25th and going on a 5 country, 15 day trip.... first class on Virgin Atlantic. And every one of those tickets have been free (some taxes and fees though).

We play the Amex and frequent flier game hard. We buy groceries, gas, lunches at work, and every single thing that we can with Amex. I also have a Chase VISA card with reward points that I use anywhere that I can't use Amex.

We never carry a balance month to month on any card that we have.

So few people (fiscally conservative and disciplined people) really milk the credit card industry well. We are not the customer they want. I'll take the card with the best perks even if it has a 21% interest rate because I don't pay interest.
While we do use our rewards credit card for nearly all purchases (basically any place that accepts credit cards that don't charge transaction fees or treat it as cash advance), we just don't spend enough in a year to earn first class or even business class tickets/upgrades. Maybe if we can charge rent to the credit card.
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Old 04-30-2015, 07:56 PM   #50
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Since retiring, staying off ladders higher than can reach my interior light bulbs is one of the cheapest insurance policies I have "purchased". So many other potential things can get me, no reason to add a needless one. The energy and strength are still there....the flexibility and agility, however, have been replaced with stiffness.


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This is so true. One of the guaranteed life shorteners (statistically) is ladders. More generally it is being macho. A guy who cleans his own gutters so he can afford to go to Italy has a problem.

Ha
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Old 05-01-2015, 02:03 AM   #51
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This is so true. One of the guaranteed life shorteners (statistically) is ladders. More generally it is being macho. A guy who cleans his own gutters so he can afford to go to Italy has a problem.

Ha
Most years DH and I have a risk - reward chat over him cleaning out the gutters himself vs. paying $150 to have an experienced roofer covered by worker's comp do it.
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Old 05-01-2015, 07:38 AM   #52
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Most years DH and I have a risk - reward chat over him cleaning out the gutters himself vs. paying $150 to have an experienced roofer covered by worker's comp do it.

Typical human logic is this.... Successfully cleaning them yourself... "I just saved $150 doing it myself, I am so thrifty".....Broken leg from an unsuccessful cleaning... "I was such a fool risking my life and medical costs all for just a $150"!


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Old 05-01-2015, 10:05 AM   #53
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Thinking of spending and age and first class airfare and such.......

I want to tell you about our neighbors. They are approaching 80 now. We've known them for 5 years. All the years we've known them they've been heavy travelers. They do two international trips a year. Two cruises from US ports each year. At least two trips to the west coast to visit family, go to graduations or other family events, etc., flying or driving. Seems like at least one of those is a long car road trip every year. In their other travels it seems like about half the time another family member (sibling) meets up with them. I think they use a travel agent of long standing to make most of their arrangements.

When traveling overseas it's either a cruise or a vacation with a walking group. They are into "folkswalk" (something like that). And pretty much always going with the same walkabout type group. When at home they both walk quite a bit to "keep up" and stay fit to continue walking. The man has slowed down a bit. He occasionally has health issues including occasional difficulty with his legs. He even had a pretty bad skin cancer scare a couple of years ago that currently seems to be in remission. They still drive to Houston for scans every six months. But their travel hasn't slowed down yet. So far they've been able to work around these issues. I imagine they will slow down before too long. In my experience when people cross into their 80s travel does slow down.

A couple of years ago our neighbor casually mentioned that they always travel first class (business overseas, I think). I remember being a bit shocked at the time, because I hadn't thought of them as particularly wealthy. Since then I've come to the conclusion that it may very well be that they want to spend the travel budget while they can. They may also fly enough that they are able to take advantage of mileage rewards for some of that.

But I think they are doing what we hope to do - plenty of travel in our 60s and 70s. I still have 25 years to go (I hope!!! Knock on wood!)

I also hope to travel with siblings - or meet up at some location - when we am older and they are retired. That's a really nice way to gift to family.
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Old 05-01-2015, 02:47 PM   #54
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A couple of years ago our neighbor casually mentioned that they always travel first class (business overseas, I think). I remember being a bit shocked at the time, because I hadn't thought of them as particularly wealthy. Since then I've come to the conclusion that it may very well be that they want to spend the travel budget while they can. They may also fly enough that they are able to take advantage of mileage rewards for some of that.

But I think they are doing what we hope to do - plenty of travel in our 60s and 70s. I still have 25 years to go (I hope!!! Knock on wood!)

I also hope to travel with siblings - or meet up at some location - when we am older and they are retired. That's a really nice way to gift to family.
Wish you well on the future travel. Good to see older people enjoying their retirement years, maximizing the "live according to the means" mantra.

In a different wealth class, we no longer travel, having had our fill in the younger years, and no longer enjoy long periods away from home, and definitely no long automobile travel.
...........................
As to the OP, and spending decline as a function of age... I would agree, at least in our own experience. It's what I call "Phase II" ... in our case, a planned part of long term retirement planning. Essentially looking at the real expenses ... real dollars of expense today, and real dollars of later planning... for continuous care. The plan is outlined here in this post, #115:
Sharing 23 years of Frugal Retirement

A few comments on the foregoing posts...
Re: Healthcare... We continue to be amazed at the way Medicare and our Supplements cover even extraordinary expenses. All in all right at our planned total expenses of approximately 10K/yr.
Re: Declining expenses... Never have we had more surplus monies than in the years after age 70. Surplus, meaning we have neither need nor want, based on our slowing lifestyles. We have the funds, but not the desire. The thought of spending a mini vacation in Branson has the same appeal as a survival test in the desert.

One of the reasons for optimism about planning for future $$$ and uncertainty about the "needs" factor, is our current close association with continuing care in our CCRC... and knowing the costs, and the kind of care that may be necessary. We can plan in real time.

All in all, being fairly well along the path to "later retirement years", I would agree with the original premise that costs become less as we age. We probably wouldn't have changed our frugal ways, but a Phase II plan might have made the early days a bit easier.
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Old 05-01-2015, 06:38 PM   #55
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Thinking of spending and age and first class airfare and such.......

I want to tell you about our neighbors. They are approaching 80 now. We've known them for 5 years. All the years we've known them they've been heavy travelers. They do two international trips a year. Two cruises from US ports each year. At least two trips to the west coast to visit family, go to graduations or other family events, etc., flying or driving. Seems like at least one of those is a long car road trip every year. In their other travels it seems like about half the time another family member (sibling) meets up with them. I think they use a travel agent of long standing to make most of their arrangements.

When traveling overseas it's either a cruise or a vacation with a walking group. They are into "folkswalk" (something like that). And pretty much always going with the same walkabout type group. When at home they both walk quite a bit to "keep up" and stay fit to continue walking. The man has slowed down a bit. He occasionally has health issues including occasional difficulty with his legs. He even had a pretty bad skin cancer scare a couple of years ago that currently seems to be in remission. They still drive to Houston for scans every six months. But their travel hasn't slowed down yet. So far they've been able to work around these issues. I imagine they will slow down before too long. In my experience when people cross into their 80s travel does slow down.

A couple of years ago our neighbor casually mentioned that they always travel first class (business overseas, I think). I remember being a bit shocked at the time, because I hadn't thought of them as particularly wealthy. Since then I've come to the conclusion that it may very well be that they want to spend the travel budget while they can. They may also fly enough that they are able to take advantage of mileage rewards for some of that.

But I think they are doing what we hope to do - plenty of travel in our 60s and 70s. I still have 25 years to go (I hope!!! Knock on wood!)

I also hope to travel with siblings - or meet up at some location - when we am older and they are retired. That's a really nice way to gift to family.

I don't travel Business class often, and never First Class unfortunately, but when I do there's no doubt in my mind that I get there feeling a million times better than when I travel in coach. Much better that I would expect just for a bigger seat etc.

When I do look a the price of a Business class seat versus coach I just feel like I am paying myself 200 to 300 dollars an hour to sit in the back.


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Old 05-01-2015, 06:46 PM   #56
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I know for sure my spending will go down as I age unless I increase my travel plan. I am enjoying my last years of OMY, splurging where I may.
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Old 05-01-2015, 09:36 PM   #57
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Wish you well on the future travel. Good to see older people enjoying their retirement years, maximizing the "live according to the means" mantra.

In a different wealth class, we no longer travel, having had our fill in the younger years, and no longer enjoy long periods away from home, and definitely no long automobile travel.
...........................
As to the OP, and spending decline as a function of age... I would agree, at least in our own experience. It's what I call "Phase II" ...

***

All in all, being fairly well along the path to "later retirement years", I would agree with the original premise that costs become less as we age. We probably wouldn't have changed our frugal ways, but a Phase II plan might have made the early days a bit easier.
This has been [is?] the experience of DW's parents, who are are just a bit older than "imoldernu." Throughout their late 50s-70s, they traveled extensively (although not at the level we plan). Europe and asia, mainly, along with both of the americas. From Cruises to landbased hiking and extensive driving trips.

Now in their mid-80s and adding to their savings from their SSec'y and Military pension despite having a very healthy portfolio, even for this forum. Mainly due to M.I.L. having two artificial knees, a hip, and Lymphedema, all of which finally began to slow her down. F.I.L, at 86, would be up for adventure on his own, but they just aren't interested in pushing themselves to do it anymore. Plus, they are less comfortable with adapting on the fly. Flight cancellations and reroutings are major issues and have dampened their enthusiasm for travel. (Fingers crossed, they may be able to do a few more trips with us when DW and I retire and are able to guide/shepherd them through this....)

Spending will boost when they need assistance--plan is to stay in the house as long as possible, and (luckily) they have the assets to do it.
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Old 05-02-2015, 02:52 AM   #58
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I am 67 now and have enough money to do what I please. My brothers are taking cruises with wives. We are all spending all we want. I haven't found big wants. I have been frugal for life so it seems extravagant to spend like other people. This week I spent 950 on tires for a truck I seldom drive, if I was younger I might have gotten rid of the truck, it is expensive to keep now it needs shocks and brakes and insurance is expensive.
I find I saved too much money so now wasting some. I think some people use not spending in the first retirement years just so they can gage if they saved too much or not enough when they age and find they have too much they loosen up.
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Old 05-02-2015, 09:49 AM   #59
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I think some people use not spending in the first retirement years just so they can gage if they saved too much or not enough when they age and find they have too much they loosen up.
That is a good point and it makes sense for me personally. I am sure loosening up as my retirement progresses. I am going on 67 and have been retired for 5 years.

I still have records of my monthly spending from 1/2008 until now. Looking at these records I found out two interesting things:

(1) Last month's spending was the second highest in all that time (the highest was during some home renovations years ago).

(2)Last year's spending was the highest year so far.

So far I see no impending decline in spending for me, personally. My daughter and her DH are well provided for with good income of their own, and more and more often, I am thinking "You can't take it with you, W2R!! Might as well spend it now."
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