You are not alone. It’s hard to become a spender when you’ve always been a saver. Honestly it gets easier with practice.
I recently “gifted” a rental house to my daughter and another one to my son. It was hard to just give them away but they would eventually either get the houses or the proceeds I received from selling them myself. Had I kept them they would just be subjected to federal estate taxes and I didn’t want that.
Since giving them away, my overall portfolio has pretty much increased to what it would be had I kept them. So I feel better.
One of my lovely long term tenants was in desperate need of dental surgery she needed to have done before getting a knee surgery. She had raised $1000 of the $3000 she needed. I gifted her the $2000 shortfall. She never asked me, I just learned of the need and wanted to help a good person who needed help. When you have a portfolio that can lose or gain tens of thousands of dollars in a day, $2000 is nothing.
So just resign yourself to the fact you cannot take it with you. Spending it allows you to control where it goes. Find the satisfaction in that knowledge.
I recently “gifted” a rental house to my daughter and another one to my son. It was hard to just give them away but they would eventually either get the houses or the proceeds I received from selling them myself. Had I kept them they would just be subjected to federal estate taxes and I didn’t want that.
Since giving them away, my overall portfolio has pretty much increased to what it would be had I kept them. So I feel better.
One of my lovely long term tenants was in desperate need of dental surgery she needed to have done before getting a knee surgery. She had raised $1000 of the $3000 she needed. I gifted her the $2000 shortfall. She never asked me, I just learned of the need and wanted to help a good person who needed help. When you have a portfolio that can lose or gain tens of thousands of dollars in a day, $2000 is nothing.
So just resign yourself to the fact you cannot take it with you. Spending it allows you to control where it goes. Find the satisfaction in that knowledge.