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Need to start clubbing more!
04-01-2014, 05:43 PM
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#1
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Recycles dryer sheets
Join Date: Aug 2012
Posts: 171
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Need to start clubbing more!
This chart was prepared by NPR today showing how spending categories change as we age (from age 25 to age 75).
More House, Less Booze: How Spending Changes From Age 25-75 : Planet Money : NPR
It also shows that as we age, we apparently become burdened with lots of bills and aren't doing nearly enough fun stuff like smoking and going to bars/clubbing. I'm thinking about chucking all the bills and starting to live like a 25 year old again.
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04-01-2014, 08:31 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,358
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Sounds like a good idea. Can we be home by 11 though? I need my beauty sleep.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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04-02-2014, 05:31 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,327
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Well, I have been buying slightly better wines so alcohol at home expenses have gone up a bit but clubbing is not in my future.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
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04-02-2014, 05:47 AM
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#4
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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Don't you remember telling yourself the next morning or afternoon "I'm never going to do that again!"?
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When I was a kid I wanted to be older. This is not what I expected.
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04-02-2014, 05:49 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2013
Location: Limerick
Posts: 5,655
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Our expenses for wine and my friend Johnnie Walker Black have definitely gone up in our late fifties. But no clubbing for us unless we can get home by 10!
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04-02-2014, 07:02 AM
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#6
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Gone but not forgotten
Join Date: Jul 2012
Location: Peru
Posts: 6,335
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We are now off the chart, but I'd say the analysis is spot on for us, and the direction of every one of the categories is exactly what we are experiencing now.
As for going back to the halcyon days... The spirit is willing, but the body is weak. But then there are some good parts, like skipping downside of partying from 7PM to 1AM... the cost of gallons of beer and the morning hangover have been replaced with the pleasure of a small glass of wine, and drifting off to dreamland... along with bonus of the few steps to the bedroom, rather than the buzzed drive home.
Fun link... thanks...
__________________
If you want others to be happy, practice compassion. If you want to be happy, practice compassion.
--Dalai Lama XIV
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04-02-2014, 07:43 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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Yep, right before we did it again!
I don't now and never did much clubbing. Enjoy seeing bands, but haven't gone out just to be out in a long while.
I can, however, think of a few folks who need clubbing...
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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04-02-2014, 07:45 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
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Quote:
Originally Posted by HFWR
Yep, right before we did it again!
I don't now and never did much clubbing. Enjoy seeing bands, but haven't gone out just to be out in a long while.
I can, however, think of a few folks who need clubbing...
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Yes, to all the above.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
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04-02-2014, 10:56 AM
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#9
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Moderator Emeritus
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,727
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Notice how bars and clubbing jumps back to an upward trend at age 52 and goes to 55 or so? That must be the impact of a midlife crisis followed by a divorce a few years into it.
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04-02-2014, 10:59 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Quote:
Originally Posted by Live Free
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I looked at the chart in the linked Web page. To me, it's a confirmation of what Bernicke found regarding spending patterns of geezers. I borrow the following paragraph off FireCalc's description of its spending model based on Bernicke's finding.
Ty Bernicke's Reality Retirement Planning: A New Paradigm for an Old Science describes extensive research showing that most people see significant reductions in spending with age (not related to reduced assets or income). If selected, this option will reduce your inflation-adjusted yearly spending by 2-3% per year starting at age 56, and then stabilizing at age 76 to keep up with inflation. You should read his article for details if you plan to use this option.
The chart in the OP's article shows that other than for housing and utility bills, spending goes down in every category after the mid-50s. As most people do not retire in their 50s, the reduction in spending is not due to lack of income. People in this age group are at their peak earning years due to work experience and job seniority.
I know that I spend less in all categories except for housing (2 homes now) and travel, but not everyone cares to travel. The chart shows that pre-geezers spend less even on food and drink consumed at home, not just on eating/drinking out. And we no longer care to buy expensive clothes to impress, for example.
So, now that we have more money to "buy pleasure", we care less about it. I am trying to slow my own inclination somewhat by trying fancier food and drink, but it's tough to spend more. Following are a couple of examples.
A couple of days ago, I felt like having an after-dinner drink, but did not think of packing a bottle of Cognac with me on this road trip. So, I went to a local grocery store, and looked at what they had to offer. There was a common brand of French Cognac on the shelf, but the price was higher than what I usually pay. Then, I saw some American brandies at very reasonable prices. I had tried a couple of American brandy brands in the past, and did not like them. But that was 20+ years ago, and I am willing to try again. The bottle I bought was not bad at all! Did my palate get duller with age, or was it that American brandies were getting better? I think it was both. The net result: I can be happy while spending less.
Here's the 2nd example. In a recent road trip to a resort town, I researched on the Web with Yelp and Urbanspoon to look for a good restaurant. There was this one that was highly rated by hundreds of reviewers, and was ranked head and shoulders beyond everything else. We went there, and were sorely disappointed. The food was not bad, but perhaps our expectation was too high. My wife commented that she could cook better than that, and I agreed. Why were we so out-of-sync with the crowd? Anyway, because while high prices usually mean better service they do not guarantee better food, we are not crazy about going to expensive places, even if we can afford it.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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04-02-2014, 11:59 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Nov 2013
Location: Bay Area
Posts: 2,745
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It's good to know that I am at peak spending age. I know what to expect when I RE soon.
Clubbing? I used my fist.
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04-02-2014, 12:05 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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When I first saw the thread title, my initial thought was "Good grief! A poster advocated killing more baby seals by clubbing!"
By the way, the last time we went to a club was more than 20 years ago. Or was it 30?
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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