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Big Splurge on Retirement
Old 05-28-2013, 08:06 PM   #1
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Big Splurge on Retirement

Just curious if anyone here would cop to a big splurge on retirement. It seems a natural thing to do, but my sense is that it would go against the grain of most people here, given their savings patterns and LBYM. My wife and I have always lived that same way, but we do spend money on certain things only if we feel it is worth it to us. Obviously what is worth it to me would/could seem frivolous to another, so the question isn't if what I am splurging on is right or wrong.

The question is 'did you do a big splurge when YOU retired or are you planning on doing a big splurge if you haven't retired yet'?

We have two things set for our retirement in 16-18 months. One will be paid for before then so I wouldn't consider it a splurge. The other though is a purchase we have always planned on doing at retirement but the splurge is a significant step up from what we were originally considering. My wife and I have been joking about it but it is clear to me that we both have the desire to do this big splurge IF the numbers are right. I told her the other day that if our Net Worth hit a certain number I would seriously consider it.

Right now our Net Worth makes us FI so I feel anything above this number is just extra sauce, nice to have but it isn't necessary. So I am okay spending a portion of that extra sauce if you will. The number I suggested to her isn't outside the realm of possibilities as I feel we actually could hit that number before we retire.

So what say you all-- you too frugal to splurge, or did you, and did you regret it or not regret it?
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Old 05-28-2013, 08:14 PM   #2
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Our splurges have been pretty minor (new golf clubs for the both of us, a new dining room set, etc) only about 10% of our annual living expenses.

I'm curious though - what you got in mind? An R8 would be nice.
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Old 05-28-2013, 08:27 PM   #3
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We're taking a 3 month excursion through Alaska and Canada. Something we planned for years. We have set money aside - independent from our investments. Now, while we're healthy enough.
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Old 05-28-2013, 08:29 PM   #4
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Our splurges have been pretty minor (new golf clubs for the both of us, a new dining room set, etc) only about 10% of our annual living expenses.

I'm curious though - what you got in mind? An R8 would be nice.
I splurged on a new Rocketbalz driver and 3 wood and am hitting the ball further than I ever have....into the woods. The past week or so, I think I am turning the corner with them though. OP...I did some splurges the first year I retired, mostly on a bunch of vacations and new big tv for the mancave. However, I cheated...I worked PT for 3 years after retiring and still saved additional money despite going on a spending binge. I am back to normal now, and enjoy a saving/spending balance.
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Old 05-28-2013, 08:36 PM   #5
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Could you define "big" splurge? Either as an absolute number or as a percentage of NW?

In any case I don't think I qualify. I went on a two week vacation, but it wasn't especially extravagant. Other than that I have been quite LBYM. I did make some significant purchases prior to ER, e.g. a new car, golf clubs. The car was needed anyway after 17 years with the old one!
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Old 05-28-2013, 08:40 PM   #6
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I am "planning" a big splurge soon after I retire, which is an extended trip. I guess I will want to indulge my desire to travel for longer periods more easily once I am officially retired, but I think I will usually try to do those very inexpensively. But at least one (probably the first) I want to save up for and hit some potentially expensive places on my bucket list.
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Old 05-28-2013, 08:40 PM   #7
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Our splurges have been pretty minor (new golf clubs for the both of us, a new dining room set, etc) only about 10% of our annual living expenses.

I'm curious though - what you got in mind? An R8 would be nice.

what is an R8?

I will tell the splurge in a bit, but I didn't want to sidetrack the discussion with people commenting on if they thought the splurge was a good idea, etc. I was more interested in the idea.

Meadbh the splurge would be al little over 50% of my annual gross income I would say
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Old 05-28-2013, 08:41 PM   #8
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Heh, I feel like a moron now. The "big splurge" I'd planned to celebrate my last day of work was $50 of sock yarn.
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Old 05-28-2013, 08:52 PM   #9
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what is an R8?

I will tell the splurge in a bit, but I didn't want to sidetrack the discussion with people commenting on if they thought the splurge was a good idea, etc. I was more interested in the idea.

Meadbh the splurge would be al little over 50% of my annual gross income I would say
It's a boat! A plane! A vacation home! A round the world cruise!

No, I didn't do that. I just spent $22 on new pajamas at Walmart.
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Old 05-28-2013, 08:53 PM   #10
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I also wonder how big a splurge you are talking about ? I always have money left over from my yearly budget that gets moved to a splurge account . Unfortunately my thrifty ways limits the amount I can mentally splurge . I could easily splurge on a nice trip but no way could I book a world cruise without hyperventilating .
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Old 05-28-2013, 08:56 PM   #11
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We waited until a year after retirement and then splurged on a motor home. It was a planned one-time expense - roughly one year of our gross income.

RVing has been and continues to be a big part of our retirement. For us the splurge was a very good decision.
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Old 05-28-2013, 09:10 PM   #12
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Heh, I feel like a moron now. The "big splurge" I'd planned to celebrate my last day of work was $50 of sock yarn.
LOL!! Another knitter! I don't even know how much I've spent on yarn in the 2 years since I've retired. But it's been worth every cent.
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Old 05-28-2013, 09:15 PM   #13
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Okay I will fess up what I am thinking of.
it is a car but oh what a car--at least to us.

a 2014 Jaquar F-type--price range from about $65-100k depending on the model, etc.

Our cars that we own currently are a 1994 Miata, 2001 BMW 535i and a 2004 Ford Sportrac. We would get rid of the BMW I think (maybe). The Miata will go off with my daughter when she goes to college. The truck is a good truck and you always need a truck.

So we were going to get a new car--hadn't decided on what to get but this is easily $20-40k over that budget. I don't need a car like this but I do appreciate nice cars (love my BMW) and this just looks like a fun car.
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Old 05-28-2013, 09:29 PM   #14
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LOL!! Another knitter! I don't even know how much I've spent on yarn in the 2 years since I've retired. But it's been worth every cent.
Oh, I agree completely. I'm on a yarn diet right now because I overdid it the past few months. I know, some people say sock yarn doesn't count as stash, but my overflowing bins beg to differ. And these days I only buy sock yatn because I love it that much.

Where do you buy yours and what do you like most?
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Old 05-28-2013, 09:31 PM   #15
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I love it--my thread has become a yarn thread!
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Old 05-28-2013, 09:31 PM   #16
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Whatever floats your boat car, HK. Speaking of water.....you live near Seattle, so won't the top be up most of the time?
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Old 05-28-2013, 09:36 PM   #17
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Whatever floats your boat car, HK. Speaking of water.....you live near Seattle, so won't the top be up most of the time?
yes I do live near Seattle. I had the top down on the Miata a lot. <looks to the left, looks to the right, coast is clear> psstt..It doesn't rain as much as people think up here!

I never have let the weather dictate my lifestyle up here, and the top goes up and down in 12 seconds. And the summers here are awesome--bluest skies I have ever seen.
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Old 05-28-2013, 09:44 PM   #18
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It's subject to a wide adjustment since I'm still single, but would love to splurge on a round-the-world trip upon retirement. Something like a 4 month jaunt, or perhaps 2 or 3 trips at 6 weeks each, with a short respite at home to fully absorb all of the great memories. Probably involve some cruising, some land touring, etc. Maybe $40k-$50k.

Of course, additional trips would also be on the retirement agenda after that one....but it'd would be the official kickoff to the next phase of life.
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Old 05-28-2013, 09:52 PM   #19
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what is an R8?.....
R8 = Audi R8. Though I like the Jag too.

Jaguar F-Type vs. Audi R8 vs. Porsche 911 - Automobile Magazine
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Old 05-28-2013, 09:58 PM   #20
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ah, that is what I thought initially---but you were talking about golf clubs and since I don't golf I thought it was a golf thing! Now off to read that article!
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