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Do you wish you had spent more?
Old 03-10-2013, 06:56 PM   #1
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Do you wish you had spent more?

Here is a question directed to those who have been retired for quite a while.

Looking back, did you spend to little while in retirement? Do you wish you had spent more funds to capture more out of retirement. For example, travelled more.

My own view is I plan to spend to the max of our pensions with private accounts as discretionary funds and remainder to heirs.


Thanks in advance,

I learn more from the collected experiences of those who have been there than print or advice.


ScottishCanadian
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Old 03-10-2013, 07:18 PM   #2
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We are now into our 4th year and we are spending ~30% more each year than we were spending while working. All the extra spending is going on travel, and certainly no regrets so far. We continue to live within our means and are really enjoying this phase of our lives.
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Old 03-10-2013, 08:48 PM   #3
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I have come to believe that you need to get at your bucket list early on, and not chance a medical situation or accident suddenly popping up and depriving you of your dreams. Good friend's wife developed mobility issues that has essential trapped him at home or consigned him to a cruise ship.
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Old 03-10-2013, 08:59 PM   #4
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Yeah go for it.
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Old 03-10-2013, 09:08 PM   #5
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I've been retired 25 years, and this question would never occur to me. I want to live the life I want to live, near my family in the city that I know and love. I have friends and relatives that spent freely, or at least freely compared to me, and traveled to destination weddings, fancy parties in European cities, but to me I'll come to your wedding if it is local. Otherwise, please send me a picture.

All it takes is a little bad luck, a divorce, an accident or illness, getting laid off one's mid 50s, to create a big hurt way out of proportion to anything I might have missed by not seeing the thing leaning in Pisa. I talked to my sister today, and got caught up on all the formerly rich friends and schoolmates who are now hurting and not knowing what is going to happen in their formerly very posh lives. The ones who tended to their lasts, kept their sexual indiscretions out of sight, and hung on to their money and inheritances are all doing fine.

Satisfaction rarely comes from spending money; it comes from family, friends, and being secure and contented in your life. And finding satisfactions of all kinds that are available to you without reference to a list.

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Old 03-10-2013, 10:58 PM   #6
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Satisfaction rarely comes from spending money; it comes from family, friends, and being secure and contented in your life. And finding satisfactions of all kinds that are available to you without reference to a list.

Ha
Great points. One of my favorite quotes is, " Wealth consists not in having great possessions, but in having few wants." - Epicurus
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Old 03-11-2013, 02:38 AM   #7
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I think it is the wrong question. A better question would be: Are there things you regret not doing in early retirement because you worried about the cost?
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Old 03-11-2013, 11:00 AM   #8
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I think it is the wrong question. A better question would be: Are there things you regret not doing in early retirement because you worried about the cost?
+1

FIL retired at age 60. MIL was 8 years younger, and they could afford for her to retire, but she wanted to keep working until she was 60 and start her pension for that extra financial cushion. They only had about 2 good years before she became disabled and severely limited the amount of travel they could do, even within England. They always regretted not getting started earlier.
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Old 03-11-2013, 11:05 AM   #9
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I think it is the wrong question. A better question would be: Are there things you regret not doing in early retirement because you worried about the cost?
I think you are right about formulating the question.
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Old 03-12-2013, 10:31 AM   #10
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Looking back, did you spend to little while in retirement? Do you wish you had spent more funds to capture more out of retirement. For example, travelled more.
Well, I won't really know until I die.

My crystal ball is just as cloudy as the next guy's so it is impossible for me to even begin to answer that.
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