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Do you continue to save in retirement for high ticket items?
Old 05-13-2021, 08:17 PM   #61
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Do you continue to save in retirement for high ticket items?

Kind of? I don't ever seem to spend as much as I could. So, when a big ticket item comes on my horizon, I just look back and see how much was within my limits to spend, that I didn't spend during prior years. That money is "fair game".

Even when I bought my Dream Home, the money I hadn't spent covered it, along with the money I got from selling my prior home.

I guess that is sort of doing it backwards, since I have never seemed to first think of the big item and then work at saving enough to buy it. Instead, I save first and then try to think of something to spend it on.
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Old 05-13-2021, 08:27 PM   #62
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Edit - jeez, after writing this ... need to start spending. Note - friend of mine drinks Caymus cabernet Sauvignon ... told him I just couldn’t do that at $80 a bottle ... he said, no problem, your children will.
Ha ha, yep!
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Old 05-14-2021, 02:17 AM   #63
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Edit - jeez, after writing this ... need to start spending. Note - friend of mine drinks Caymus cabernet Sauvignon ... told him I just couldn’t do that at $80 a bottle ... he said, no problem, your children will.
That's okay. Just see that your "financial planner" isn't drinking your CCS!
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Old 05-14-2021, 04:41 AM   #64
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As when working and now in retirement I always have lived below my means and always put money away for investment and buying more toys. It's an odd feeling not having to worry about money or the cost of things.
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Old 05-14-2021, 08:56 AM   #65
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As when working and now in retirement I always have lived below my means and always put money away for investment and buying more toys. It's an odd feeling not having to worry about money or the cost of things.
Similar here, but I still want value for my money and look for bargains within reason...
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Old 05-14-2021, 10:41 AM   #66
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OP here. I mean did you continue (if you even started) putting a bit of cash into each savings "bucket" for vacation, car repair, new car, house repairs, etc) from your monthly income during retirement, or stop doing so once you became retired.
Never wanted or needed to use "buckets" while working and haven't done so in retirement. My spending has always been way below what I could reasonably afford, so big ticket items every now and then were never a problem.
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Old 05-14-2021, 10:59 AM   #67
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Never wanted or needed to use "buckets" while working and haven't done so in retirement. My spending has always been way below what I could reasonably afford, so big ticket items every now and then were never a problem.
Agreed. I saw the wisdom in using buckets for some folks - it was a tool to orient folks without an internal (what I call) "spend clock." I was able to control spending without a budget or buckets. My AA was set up so that the money naturally flowed from long-term investment to shorter term savings to check book - but no buckets as such. We're all so different and viva la difference as YMMV.
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Old 05-14-2021, 11:42 AM   #68
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I continue to save any cash over $1000 in my checking account monthly. After 10+ years in retirement, we have yet to tap our retirement investment stash. Pensions/SS, so far, have paid it all.
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Old 05-14-2021, 03:46 PM   #69
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What high-ticket items?

Live in a townhome, last roof replacement was handled through a special assessment spread over a few years, under $100/month.

If I need a "new" vehicle I can buy used or lease instead of spending 5 figures all at once.
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Old 05-14-2021, 06:32 PM   #70
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What high-ticket items?

Live in a townhome, last roof replacement was handled through a special assessment spread over a few years, under $100/month.

If I need a "new" vehicle I can buy used or lease instead of spending 5 figures all at once.
My last new vehicle cost me $60k in 2015.
For me, that was a high ticket item...
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Old 05-14-2021, 06:38 PM   #71
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Yeah I bought my first brand new car in 2019, a fully loaded "plus - " and it cost me 45 grand. Nice car, glad I bought it!
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Old 05-15-2021, 06:40 PM   #72
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Got that right.

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Robbie - good vibes on Rombauer from today’s Preakness!
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Old 05-16-2021, 07:28 AM   #73
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Some of us retirees treat our steady annual withdrawals as income in terms of annual cash flow, so budgets for big ticket items can certainly be filled from that.
This is the way I see it. I consider ANY money coming in to our NW as "income". I say to my DW "we wor*ed all our lives to create a passive income stream so that we can FIRE. SS, withdrawals from TIRAs/Roths, selling items in the classifieds, PT wor*...all income to us.
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Old 05-16-2021, 10:27 AM   #74
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We put on new roof, got some new appliances, and bought 2 new cars in the few years prior to retirement. No real big ticket items right now.
At this point, we have "extra" every month from pension and ss that goes into a savings acct. We use that for anything beyond our monthly budget, if needed, such as taxes, travel, etc.
But I wouldn't have a problem pulling from investments if I needed, or wanted, too. That's why we saved like crazy while working!
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