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What is your financial Achilles' heel?
Old 10-22-2017, 10:23 AM   #1
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What is your financial Achilles' heel?

Do you have a financial Achilles' heel? For example, I had thought that I was pretty resistant to pleas for money from certain relatives. No, I won't co-sign a loan, no I'm not buying that, you want it you buy it yourself. (I'm not talking about normal expenses when raising a family, and would have kicked in if my or DH's parents needed support - they were good parents and not spendthrifts).

I am the financial hardnose in the family. I reign in DH who has a soft heart and would empty his bank account buying gifts (not necessities) for grown kiddos and me.

Oldest son (an adult) got me though. A call from the vet's office, DGD (grand dog) ate a beer can, not enough money to cover the surgery, put the surgery on parents' card or dog dies. Not to mention the $ we spent (unsuccessfully) trying to save our sweet kitty this month, but I can't regret that.

So, do you have a financial Achilles' heel?
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Old 10-22-2017, 12:07 PM   #2
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Much Higher than average anticipated inflation, stock market crush followed by depression.
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Old 10-22-2017, 12:26 PM   #3
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I'm trying to figure out how this could even happen! Is this a very large dog with a very large mouth and throat? It sounds like the dog survived; I hope so, anyway!

Quote:
Originally Posted by MarieIG View Post

DGD (grand dog) ate a beer can,
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Old 10-22-2017, 12:31 PM   #4
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I am a sucker for animals too)
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Old 10-22-2017, 12:31 PM   #5
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Chocolate Mint Ice Cream on sale. Last time it was $2 each if you bought six. I wanted to buy 12 but DW stopped me. Meanie.

Ultra micro (UMX) radio control model aircraft. I think I have about twelve now and two on backorder.

For DW it is any and all perceived needs or wants of grandnieces or grandnephews.
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Old 10-22-2017, 12:51 PM   #6
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Excessive safety over having some fun.

Right now my net spending is less than 1% of my FIRE stash.

I ask myself what am I saving it for, and currently the answers seem to be:

1. Protection against the next pullback - coming soon to a theatre near you - pushing my spending rate over 4%.

2. Having more money in case my kids' college ends up costing more than I have saved.

3. Seeing money pile up is more fun than whatever fun I could have with it, aka SMGDS, aka Scrooge McDuck Gold Diving Syndrome.
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Old 10-22-2017, 02:09 PM   #7
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Old 10-22-2017, 02:20 PM   #8
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Buying old cars, fixing them up and selling them for less than I have in them. Sounds foolish, but it keeps me occupied and out of the bars.
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Old 10-22-2017, 03:55 PM   #9
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Getting divorced.

Don't have to worry about that one much anymore, I finally learned my lesson 22 years ago.
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Old 10-22-2017, 04:02 PM   #10
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What is your financial Achilles' heel?
Old 10-22-2017, 04:23 PM   #11
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What is your financial Achilles' heel?

About 20% of retirement income is in a non-guaranteed pension supplemental payment.
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Old 10-22-2017, 04:27 PM   #12
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Wine. Especially after 4-5 tastings. Then it's all good
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Old 10-22-2017, 04:30 PM   #13
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Ice cream and strippers.

I hate paying estimated taxes, but I plug my nose and do it.
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Old 10-22-2017, 05:28 PM   #14
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I suspect it will be the children but not really so far but the game is still in the early going. Might be travel too.
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Old 10-22-2017, 05:33 PM   #15
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Our cat's getting old too but she's been relatively healthy <knock on wood>.
I dread the day if/when we need to make a decision on a big vet bill.
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Old 10-22-2017, 05:44 PM   #16
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Old 10-22-2017, 05:58 PM   #17
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Chocolate Mint Ice Cream on sale.
Well, yes.

Also, it used to be trying to beat/time the stock market. I cured myself of that a few years ago.
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Old 10-22-2017, 06:00 PM   #18
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Probably (legally) avoiding taxes to a fault. I let avoiding taxes influence rebalancing and asset allocation a little more than most here probably do. I’m a little worried it’s going to catch up with me when we/I reach the tax torpedo years (taking SS, paying RMD’s and withdrawals), but every analysis I’ve done says paying now or paying later will be about a wash even though I am assuming higher personal taxes in the future, so I stand pat.
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Old 10-22-2017, 06:24 PM   #19
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Quote:
Originally Posted by Amethyst View Post
I'm trying to figure out how this could even happen! Is this a very large dog with a very large mouth and throat? It sounds like the dog survived; I hope so, anyway!
She she did! Her head and mouth are enormous. She a rather large pit bull.
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Old 10-22-2017, 06:30 PM   #20
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Occasional ill-advised purchases.
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