Habitual Saver

[Nords]

For the three of you (Nords, spouse and daughter) a couple of trips to SBUX or the local coffee house would be expensive - $3

Ironically I'm the only coffee drinker in the family, and anything better than Navy coffee* is wasted on my delicate palate.

*[I know, I know, there is nothing better than Navy coffee...]

 

[TromboneAl]

The solution is to convince yourself that you indeed have enough, and that there is a danger that you will not spend enough.

Create a spreadsheet that tells you how much to spend each year, and displays any spending shortfall as fun money.

Visit Amazon frequently, and read reviews.

 

[NW-Bound]

My problem is that by continuing to work, I am sacrificing time for money. I don't need to stop saving. What I need is to fully recognize the value of time.

... and to know what to do with the free time you have in retirement.

Simple as it is, many people do not know or even think about the answer.

 

[Nunyaa]

My parents-in-law are like this. They walk around their condo with the lights turned off and the heat (or A/C) at a minimum, complaining happily about how much things cost.

Sounds like my parents.

...I doubt frugal conservative spenders will actually want to or be able to mentally, raise spending later in retirement.

My Dad can't make this change. Too many years of scrimping and saving and he can't undo the mindset.

My problem is that by continuing to work, I am sacrificing time for money. I don't need to stop saving. What I need is to fully recognize the value of time.

I still need to work at least 6 more years until I can retire, but one of my big motivations for striving to ER is that life if finite and I want to be young enough/healthy enough to enjoy it.

 

[SpencerM]

Seems a little irrational to save all your life and not spend it at some point.
@ Nords great story. My inlaws are like that. I sure don't want to end up that way.
However, a derivative of this "problem" is the fear of spending principal. That is we live (nicely) on dividends and pensions. My DW often says if things go well we can spend part of the portfolio over time as well. Not sure I feel comfortable doing that. We'll see.

I agree it does seem irrational. I admit, I will feel somewhat uncomfortable when I start to withdraw. In fact, I have plans not to need the money (live on my pension) well into my retirement. I wonder if our generation, or at least the subset that read this board, are not much the same as our parents in that respect. Easier to save than to spend - even though we are frequently in far better shape financially.

Life-long habits, of any sort, are hard to change. More of an 'issue' rather than a 'problem' though...

SM

 

[Lsbcal]

...(snip)...
My problem is that by continuing to work, I am sacrificing time for money. I don't need to stop saving. What I need is to fully recognize the value of time.

Maybe generating some keen interests would help to get away from the work-money path. This assumes the work-money path is unfulling, not true for all. It is not in everyone's makeup to develop a passionate interest in something that does not make money. And it may not at first be all that compelling an interest until you develop skill levels there. One only learns this by activity over a period of time, maybe years.

Looking at what I do now, these were all interests I had before ER but did not fully develop. Now they become more fully explored and developed. Sort of like filling out a tree with lots of branching structures and some new limbs.

 

[Khan]

Same here. Although it's not for lack of opportunity to spend it (like during my working days), but it seems like such a hassle to actually do it.

It's a total pain to shop/find people to do stuff/ arrange time and space.
Donating is a simple as writing a check or doing a few clicks.

 

[Danmar]

Well, I'll admit it. We don't have any problem spending money. The only apparent constaint is the fear of running out. i realize this is not the norm here.