Live for today

[BTravlin]

There was a TV show back when I was but a mere lad called "The Millionaire" in which a guy named Tipton did something similar... every week.

I've done okay but am nowhere near in that league.

I have been giving money to individuals I thought deserved it.
They didn't come to me asking, and I have asked them to keep it quiet.

Am I hoping for 'karma'?
I don't know.

I've always tried to be charitable but really do strive to give where I can more closely see the results.

Good idea, but may I make a suggestion? Give them up to the IRS maximum, so it doesn't have to be reported. I think that is somewhere around $12K-$13K.

Good point. Thanks

 

[Moemg]

I watched my brother who was living on borrowed time .He had a heart transplant . What he did was spend as much time as possible with his kids .He was a great Dad and his kids who were in there late teens at that time adored him . Other than that he just did what he enjoyed a little travel , gourmet food & good books .He also continued to work despite being FI many times over .

 

[NW-Bound]

Why spend your fleeting moments left on earth that way if you really don't have to?

+1

What W2R said.

Ditto.

Ah, but that is easy for the [-]geezers[/-] senior citizens who "have arrived" to say that.

I was thinking of the younger folks in their 30s and 40s, who, unless they have very well-paid jobs, if they think about FIRE'ing, will have to run FIRECalc to see if buying a nice car or taking a foreign vacation would cost them another year of work. This kind of thread keeps coming up. Yes, they have to find the balance between enjoying the fruit of their labor now ("Live for Today") vs. beefing up their savings in order to have margins against the vagaries of the market, the uncertainties of their medical care costs, etc...

It was that kind of "shall I plan to work another year" decision that I was trying to describe, and it was my fault for not being lucid.

We keep preaching delayed gratification, and to keep our SWR low because projection of medical advances shows that we will live to 100. Yet, we also have posters like meadbh telling us how a friend of hers expired a mere 2 months after the diagnosis of a terminal disease. I myself have seen so many people dropping dead from heart attacks or strokes while in their 50s. Well, at least they did not have to linger to ponder the question of what if, to ask themselves what they could have done differently.

I do not know the statistics, but suspect that those sad situations occur far more often than the chance to win the lottery grand prize. People often buy lottery tickets hoping to get that prize, but sadly, their chance of an early meeting with the grim reaper may be several orders of magnitude higher.

I have often said here that my younger brothers and their spouses are bigger spenders than we are. We were a bit worried and did once hint to them the danger of job loss, or illnesses that may keep them from continuing to earn that high pay. To that, one of my brothers said that if it came to that, they were ready to downgrade their lifestyle, to lose their McMansion and move into a trailer. If that happened, they could say they had been there, done that, and would not regret it.

So, I see their "instant gratification" philosophy as making some senses too. Who is to say what's right or wrong? And by the way, they occasionally complain about their work environment, but it was no more than people complaining about the weather. Obviously, their jobs were tolerable, else they would have thought differently about spending.

 

[Nords]

Ah, but that is easy for the [-]geezers[/-] senior citizens who "have arrived" to say that.

The grass is so much greener on our side of the fence because we spread copious amounts of fertilizer on it. And we keep those dang kids off the lawn, too.

I do not know the statistics, but suspect that those sad situations occur far more often than the chance to win the lottery grand prize. People often buy lottery tickets hoping to get that prize, but sadly, their chance of an early meeting with the grim reaper may be several orders of magnitude higher.
Obviously, their jobs were tolerable, else they would have thought differently about spending.

I think you've called it. The grim reaper may be handing out free lottery tickets, but there's no way to survive a soul-killing job...

 

[meierlde]

For stevewc In Texas you can get snow and sleet in Late Dec Jan, and early feb, So I would say visit in oct-nov-dec or feb,march, april (April adds the appeal of wildflowers along the highways often entire roadsides covered, thanks to Lady Birds idea.

 

[Rambler]

I dunno, I'm still working, but if I knew I was going and could get a medical leave of absence or Cobra, I would stop working and enjoy my family. Certainly would not spend any more time on the job than to hand things over and get the med leave or Cobra started.

R

 

[NW-Bound]

For stevewc ...

... visit in oct-nov-dec or feb,march, april (April adds the appeal of wildflowers along the highways often entire roadsides covered, thanks to Lady Birds idea.

You hear that steve? It's not like what others want you to believe, so they can keep it all for themselves. No scorpions and chiggers and such. It's real pretty down there. Come on down, and stay as long as you like. Tell all your friends too. There's room for you all.

PS. Did you see that thread on San Antonio? If not, I have made it easy for you: http://www.early-retirement.org/forums/f46/2-days-in-san-antonio-on-business-what-to-see-52221.html

 

[REWahoo]

(April adds the appeal of wildflowers along the highways often entire roadsides covered, thanks to Lady Birds idea.

Kidding aside, be sure to check the amount of precipitation in the aforementioned state during the previous fall and winter. Unless there has been significant rainfall, which seems to be only about 1 season out of every 4, you will be very disappointed in what you see along the roadsides come Spring.

 

[BTravlin]

I was thinking of the younger folks in their 30s and 40s, who, unless they have very well-paid jobs, if they think about FIRE'ing, will have to run FIRECalc to see if buying a nice car or taking a foreign vacation would cost them another year of work. This kind of thread keeps coming up. Yes, they have to find the balance between enjoying the fruit of their labor now ("Live for Today") vs. beefing up their savings in order to have margins against the vagaries of the market, the uncertainties of their medical care costs, etc...

It was that kind of "shall I plan to work another year" decision that I was trying to describe, and it was my fault for not being lucid.

Still working and in my early 50's and have constantly worked at that balancing act. Seems as if we've done well with a good mix of the materialistic goods and life experiences balanced against a decent sized retirement portfolio but only time will tell if we got it right. I too though have seen too many die relatively young to push the delayed gratification philosophy too far.

 

[audreyh1]

For stevewc In Texas you can get snow and sleet in Late Dec Jan, and early feb, So I would say visit in oct-nov-dec or feb,march, april (April adds the appeal of wildflowers along the highways often entire roadsides covered, thanks to Lady Birds idea.

Snow? Sleet? What part of TX are you talking about?

Oh, I get it! You must mean North TX

Audrey

 

[haha]

I believe that this is mostly a non-issue. If a person is living well, he will not feel deprived. If he feels deprived, he is not living well.

I sometimes think of spending as being more for immediate consumption (also called experience) or capital goods intended to be used for experience. When you are young, have children, a house, if there is any budget surplus it will often be spent on capital goods-skis for everyone, an AWD vehicle to get to safely on and off the mountain, yard care equipment to keep a kid-suitable yard, clothes for work.

When you are older and retired, you may still like to seek your experiences in a capital intensive way, or not.

My current guiding principle, if I had ever articulated one, would be to have fun directly. That is sometimes cheap, sometimes not, but it almost never involves capital expense, upkeep or overhead, which for me but certainly not for many others, are anti-pleasure, not pro-pleasure.

And to maintain as best I can warm relationships with friends and immediate and extended family. I know that if I were dying I would still really want my relationships, and I think that if I were dying I would still like to eat out, to go to nice oyster bars and festive happy hours, and to make love if I were not too sad about leaving this wonderful world.

Ha

 

[Retire2013]

[QUOTE reWAHOO
Trying to find the right balance between overconsumption and deprivation is a life long battle.[/QUOTE]


So true!

 

[rescueme]

Snow? Sleet? What part of TX are you talking about?

Tornados, cactus, dust storms, tarantulas, dust devils, sorghum wheat, cotton, old cowboys, ugly women along with the occasional ice/snow storm.

Yes, I lived in Lubbock - where you could see the curvature of the earth...

 

[kumquat]

Well, time to crank up the "life sucks" posts a bit. If your read the first post on this thread it was about my friends dying. Now I have more to whine about:

• DB was diagnosed with MS a couple of years ago. I didn't include it in the original. Why not, he is still alive and walking. DB is 10 years younger than me and will walk for about a year. Brain is also fading.
• SIL(only 5 years younger) was diagnosed with dementia today. Other DB took her to hospital two weeks ago with headache, loss of vision and confusion, she's still there. She has great long memory (she was an RN and knows what's happening) but admits that the short term doesn't exist. Prognosis sucks.
• When I married DW, I knew she had SLE and (to be honest) didn't think she'd be in [-]near[/-] perfect health at 60. I was ready to lose her from the beginning. I am not ready to lose siblings and their SO's, who should be in better shape than me.

The good news? DW hasn't had any serious symptoms in the last 10 years.

 

[megacorp-firee]

I am getting lazier these days (or maybe old age is setting in), so I did not read many of the posts.

I have also had similar experiences, as I am sure most of us have. So I fully empathize with you. Friends, family, and former colleagues have truly made me see life differently.

With that said, I have been traveling with my DW extensively ... 4 to 6 months per year. Some more exotic trips than others, but all are 'adventures'. It is absolutely true for us that these experiences had a 1000% more impact on our lives than buying a car, a house, carpeting, a big screen tv or any other 'piece of stuff'.

My vote is to go and do what you think will make your and your families lives better, more enjoyable, more memorable ....etc. ... and not purchases that will end up in a garage sale in a few years.

Hope this helps.

 

[meierlde]

Snow? Sleet? What part of TX are you talking about?

Oh, I get it! You must mean North TX

Audrey

Actually in the Hill Country we get snow every few years but its gone in a day. Did have a 3 day ice storm 4 or 5 years ago, but that was the first time in 30 years or so. Have seen ice storms in Houston as well, the town just shuts down. So it can happen most places in texas, but its more rare the further south you go.

 

[Martha]

[*]When I married DW, I knew she had SLE and (to be honest) didn't think she'd be in [-]near[/-] perfect health at 60. I was ready to lose her from the beginning. I am not ready to lose siblings and their SO's, who should be in better shape than me.
The good news? DW hasn't had any serious symptoms in the last 10 years.

Kumquat, what is SLE?

I am sorry to hear about all your family members struggling.

 

[BTravlin]

Save for tomorrow but definitely leave enough to thoroughly enjoy today as well.

Neighbor friend of ours, 48 years old, married with three children under 18, started having migraine headaches a few weeks ago so went to see doctor. Two weeks ago she was diagnosed as having a brain tumor of an aggressive type. She was trying to figure out what treatment approach to take. Passed away at about 10:30 last night. Very sad.

And to top off, she was one of those who exercised regularly, ate sensibly and did all the rest to try and stay healthy.

 

[chinaco]

I've decided I'll crank up the spending a bit. ...

I am of a similar mindset.

IMO - Once one has adequately dealt with common risks that can be effectively managed (in a financial way)... spend the money while young and able to enjoy it... life and health can be fleeting. As the old saying goes... money cannot buy happiness... it can can buy enjoyable experiences and creature comforts! You worked hard to get where you are... Enjoy it while you can!

 

[rescueme]

money cannot buy happiness...

No. But in my case, it can "buy" peace of mind - and I don't need to spend a cent.

Just my $.02.

 

[Meadbh]

Kumquat, what is SLE?

I am sorry to hear about all your family members struggling.

SLE stands for Systemic Lupus Erythematosus. It is often spoken of as Lupus, which is Latin for "wolf", and symbolizes how this autoimmune disease can creep up on you. It has many diverse symptoms. Here's an informative link:

Systemic Lupus Erythematosus (SLE) Symptoms, Treatment, Causes, Signs and Diagnosis by MedicineNet.com

 

[chinaco]

No. But in my case, it can "buy" peace of mind - and I don't need to spend a cent.

Just my $.02.

My comment was about "over doing it".

But your description has some additional implications. Risk mitigation (and peace of mind) has a cost to you... even if you do not spend it. You forgo using your resources and actually spend it at the end... it goes to uncle sam, heirs, or charities. Which is fine... but it is locked up and will be spent (just at the end). If one overdoes it... they overspent to mitigate the risk. It is a fuzzy topic and dealing with non-determinant risk mitigation is very confusing and difficult to pull off successfully (unless one is very wealthy). That is why the insurance industry and certain other financial instruments exist.


IMO - Once you have adequately planned and reserved enough (for known risks)... which has a cost!... Then the marginal benefit of buying more "peace of mind" is reduced and one is foregoing other life experiences and comforts to buy a greater level of "peace of mind" than could not yield any realizable benefit unless some extremely unlikely cataclysmic disaster occurs. Plus if that cataclysmic scenario happens... money may not even be able to adequately fix the problem. This is coming from someone that is really pretty conservative... But I feel I have a relatively good understanding of risk (in this context). I intend to enjoy our money. However, that does not mean I intend to waste it or inadequately mitigate our risk.

 

[Meadbh]

IMO - Once you have adequately planned and reserved enough (for known risks)... which has a cost!... Then the marginal benefit of buying more "peace of mind" is reduced and one is foregoing other life experiences and comforts to buy a greater level of "peace of mind" than could not yield any realizable benefit unless some extremely unlikely cataclysmic disaster occurs. Plus if that cataclysmic scenario happens... money may not even be able to adequately fix the problem. This is coming from someone that is really pretty conservative... But I feel I have a relatively good understanding of risk (in this context). I intend to enjoy our money. However, that does not mean I intend to waste it or inadequately mitigate our risk.

For example, all the careful savers in Japan. If your home and family were just washed away, retirement savings would be the least of your worries.

 

[W2R]

For example, all the careful savers in Japan. If your home and family were just washed away, retirement savings would be the least of your worries.

Indeed. a catastrophe changes everything. Even if your home and family survive, watching your community and nearly everything familiar washed away, plus not knowing if your friends, neighbors, or even acquaintences survived is an undescribable experience that cannot be easily or casually dealt with.

The Japanese helped New Orleans after Katrina, and there is a big effort here to donate to Japan relief funds, stemming from our immense gratitude for what they did for us back then.

On the topic of spending more this year, sometimes it seems like a "spend, spend, spend! And live for today!" philosophy is easier said than done. If one does not wish to travel further, then beyond charitable efforts what do we spend it on?

OK, I ordered a rice cooker yesterday... let the good times roll.

 

[chinaco]

....

On the topic of spending more this year, sometimes it seems like a "spend, spend, spend! And live for today!" philosophy is easier said than done. If one does not wish to travel further, then what do we spend it on?


OK, I ordered a rice cooker yesterday... let the good times roll.

Wow... you are a spendthrift!

Hurry return it and use a pot instead... lest you have no money for the rice to cook in it 30 years from now!