For Those Who Want To Increase Spending, On What?

[brett]

We plan to increase our pre covid spending number on more high end international travel.

 

[Romer]

I think spending more money to spend it is a waste

However, realizing you have more room to spend and doing something value added can be worthwhile

I just added Solar with 32Kw of Battery Backup to my house

I have a built 2014 Toyota Land Cruiser which I take on off road expedition runs. I Imported a Camper from Australia as all the US ones I had feel apart

I upgraded my Z4 in 2019. It gets 16MPG vs the 14 my Land Cruiser gets

I restored a 1973 Land Cruiser - That can be pricy but also is a good hobby

Then I had to build another 2 Car Garage to hold my stuff

For some, those are a waste as how many cars can you drive. For me it was worth it

I upgraded all my Power tools to Milwaukee 18V Battery tools. Those are really awesome

For the International trip that keeps moving I booked Business Class. Long 10+ hour flights are much more enjoyable there

My point is there maybe are more things out there that would interest you. Find those or upgrade what you are already doing rather than just spending money.

My wife wants to play in a world of poker tournament in Las Vegas as an example.

 

[Music Lover]

I would suggest that those who think they want to increase their spending, but don't know what to buy, probably are mistaken - - they really don't want to increase their spending.

Just be happy and enjoy your comfortable retirement! Put the rest into your nestegg in case of emergencies.

There are a lot of people here with very substantial savings who want to spend some of their money...they already have enough for emergencies so this would be money over and above that. Recent threads touch on that are "die with zero" and "mental gymnastics, spending enough" etc. Plus the long running "blow that dough".

Not everyone has dependants or a list of charities that they want to leave money to, some people want to reap the rewards of their hard work while they're still able to enjoy it.

 

[Skitso999]

Buy your time back!

An idea I had was to contract with a company that will supply meals in oven-ready tins that are ready for heating. I definitely don't like cooking, so to me, this would be a real luxury.

I also have some unique trip ideas. How about traveling the entire length of route 66 in a very old car. Wouldn't it be great to travel in a 1961 Thunderbird or Lincoln Continental. What great cars. They're actually very modern and perfectly capable of long travels with excellent dependability. They even had air conditioning most of the time.

You could also live in a foreign country for a month or two and get first-hand knowledge of the lifestyle and history. Sounds like fun to me!

Do something YOU think is fun and time saving, not what the crowd thinks is socially appropriate. For example, I'm not too sure that a cruise would be fun, when I could have a car and go anywhere I want to in a new area.

 

[SnowballCamper]

I think I could spend 100k a year on the following:
1. Cleaning service (weekly)
2. Buy items only made in USA/Europe
3. Buy Carbon offsets for all travel and other activities (home heat, etc.)
4. Travel to space (as needed to meet spending requirement)
5. Car detailing (monthly)
6. Full service gardener/landscaper
7. Hired cook for at least two meals a day.

Of course then I'd be on here asking what to do with all my extra time...

 

[capitalhockey]

I am still working (by choice) but will turn up my spending in my 40s since I am already FI. Based on my forecast, I will have this problem when I am RE.

I rather create fun memories while my kids are young and my wife/I are able body.

 

[RobbieB]

I would suggest that those who think they want to increase their spending, but don't know what to buy, probably are mistaken

I always know what I want to buy, so that's never a problem -

 

[steelyman]

I would suggest that those who think they want to increase their spending, but don't know what to buy, probably are mistaken - - they really don't want to increase their spending.

Good for you! That’s the healthiest attitude.

 

[NW-Bound]

I always know what I want to buy, so that's never a problem -

Even so, don't you still have to prioritize your wants?

For example, if you buy a boat that's too big, perhaps the operating expenses will cut into your consumption of caviar and Wagyu beef?

You will have to find a balance between your wants, or to forgo some.

 

[RobbieB]

Of course, I'm not Gates or Buffet.

 

[38Chevy454]

I also have some unique trip ideas. How about traveling the entire length of route 66 in a very old car. Wouldn't it be great to travel in a 1961 Thunderbird or Lincoln Continental. What great cars. They're actually very modern and perfectly capable of long travels with excellent dependability. They even had air conditioning most of the time.

Emphasis by me. Better be careful, that is only a 60 years old. Many on here might disagree to be called very old at 60


BTW, in my perspective 1961 is not a very old car. Pre WWII era are what I would call very old. I have several classic cars: two 1937's, 2 1952's, and a 1968. I do agree with your statement that the early 60s cars are more modern drivetrain, suspension and comfort. They are certainly capable of long trips and excellent dependability.

 

[street]

I think I could spend 100k a year on the following:
1. Cleaning service (weekly)
2. Buy items only made in USA/Europe
3. Buy Carbon offsets for all travel and other activities (home heat, etc.)
4. Travel to space (as needed to meet spending requirement)
5. Car detailing (monthly)
6. Full service gardener/landscaper
7. Hired cook for at least two meals a day.

Of course then I'd be on here asking what to do with all my extra time...

There is a few items on your list I would not mind spending money on to increase spending.
Number 1 and number 7.

 

[NW-Bound]

I think I could spend 100k a year on the following:
1. Cleaning service (weekly)
2. Buy items only made in USA/Europe
3. Buy Carbon offsets for all travel and other activities (home heat, etc.)
4. Travel to space (as needed to meet spending requirement)
5. Car detailing (monthly)
6. Full service gardener/landscaper
7. Hired cook for at least two meals a day.

Of course then I'd be on here asking what to do with all my extra time...

I don't believe you can get the above wish list with $100k/year. Absolutely not the space travel.

Take that out, and it can still be iffy, depending on how much discretionary money you have left now, after the current essential expenses.