Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 12-05-2017, 05:53 AM   #61
Thinks s/he gets paid by the post
flintnational's Avatar
 
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
Quote:
Originally Posted by GrayHare View Post
New car, caviar, four fish day dream,
Think I'll buy me a colonoscopy team?
Nice
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
flintnational is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-05-2017, 06:01 AM   #62
Thinks s/he gets paid by the post
flintnational's Avatar
 
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
Quote:
Originally Posted by ejman View Post
Hum, add this thread to the Déjà vu feeling the party is about to end...
By inference, are you implying bitcoin will not continue to double weekly? Man, there are going to be a lot of disappointed first time investors.
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
flintnational is offline   Reply With Quote
Old 12-05-2017, 06:26 AM   #63
Full time employment: Posting here.
 
Join Date: May 2015
Location: Atlanta suburbs
Posts: 633
Quote:
Originally Posted by NW-Bound View Post
If I can maintain the status quo, it's already plenty good for me. In order for me to spend significantly more, I need to see my stash doubled. Fat chance of that in the years ahead.
+1
DEC-1982 is offline   Reply With Quote
Old 12-05-2017, 06:37 AM   #64
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Mar 2011
Posts: 6,472
A few things have changed for us.

First of all, my brother's devastating stroke was the 2X4 across the head that we should live life while we can.
The growing realization that in 14.5 short years I'll be 80 years old. (if I'm lucky)
Increases to my trust fund benefits (via death of other heirs) also pushed us ahead a bit.
The market has performed admirably of late.
Disappointments in a few of our future heirs makes us less inclined to leave them a nice chunk.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
marko is offline   Reply With Quote
Old 12-05-2017, 07:01 AM   #65
Thinks s/he gets paid by the post
 
Join Date: Jan 2013
Posts: 2,788
The only thing I'm spending significantly more money on is capital improvements to the rentals. Enriching the roofing and flooring companies and the big box appliance departments, plus keeping the handy people employed. Cashflowing what I can, pulling from cash savings here and there to do roofs.

The mortgages are being paid down/off, but that's through cash flow and that early Social Security check exclusively.

Along with a drop in the paper asset markets, I expect a drop in rents and an increase in vacancy when the party ends. Lean times ahead at some point.
Another Reader is offline   Reply With Quote
Old 12-05-2017, 07:06 AM   #66
Thinks s/he gets paid by the post
bclover's Avatar
 
Join Date: Mar 2015
Location: philly
Posts: 1,191
Quote:
Originally Posted by HFWR View Post
The market giveth, the market taketh away...
ding ding ding.
__________________
My darling girl, when are you going to realize that being "normal" is not necessarily a virtue? it sometimes rather denotes a lack of courage~Aunt Francis
bclover is offline   Reply With Quote
Old 12-05-2017, 07:09 AM   #67
Thinks s/he gets paid by the post
bclover's Avatar
 
Join Date: Mar 2015
Location: philly
Posts: 1,191
Actually I'm thinking about taking a few extra trips next year.

I've been wanting to take my sons to London for a few years, they are getting older and starting first careers so I think soon the days of family travels maybe over......

Then of course my youngest son does something supremely stupid and the feeling goes away...
__________________
My darling girl, when are you going to realize that being "normal" is not necessarily a virtue? it sometimes rather denotes a lack of courage~Aunt Francis
bclover is offline   Reply With Quote
Old 12-05-2017, 07:21 AM   #68
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 10,462
Our spending is actually way down because we sold our weekend house cutting out substantial expenses and adding the capital to our portfolio. We have noted that if something comes up that we want we can go for it but our habits haven't changed. That said, we have never been tight fisted. We live quite well.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 12-05-2017, 08:01 AM   #69
Recycles dryer sheets
 
Join Date: May 2011
Posts: 325
NEXT year will be the peak.
One month in FL; summer vacation in AK; add a four season sun room.
Recent financial review says we are in good shape even with a repeat of 09 mess.
sanfanciscotreat is offline   Reply With Quote
Old 12-05-2017, 08:05 AM   #70
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 7,451
Send a message via Skype™ to kcowan
It is part of an ongoing evolution. In 2002, our first year of retirement, we put together a plan that would take us out to age 100. It required close management of our equities and a measure of trading efficiency.

By 2007, we were doing well enough to purchase a snowbird property and that turned out to reduce our burn rate substantially, making the downturn in equities fully contained. Then when the markets recovered, we increased our annual transfer to the kids by 30% and increased our charitable giving. We also upgraded our quality of wine and liquor. We added a vehicle.

Our VPW is still under 2% so we are nowhere near having to cut back in a market correction. DW does not like seafood nor cognac, so the wine is for her. And she got the newer car. She is due for another one NOTB next year.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 12-05-2017, 08:24 AM   #71
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 29,850
Quote:
Originally Posted by Danmar View Post
If people don’t spend more when times are good, and certainly won’t spend more when the bear hits, why be in equities at all? Why not just annuitize? Why take the risk for no reward?
I took the reward early. I spent on more things in the last few years, and so have less need to spend now. If I feel like a new car, I will get one. But cars do not turn us on, and we can only travel so much. And I can only eat and drink so much.

Can't see myself upgrading to bigger houses. A lot of work!

I could give my children more money, but they already feel bad receiving so much from us. My son told me "Dad, you should get a decent car", because he felt bad driving his Audi S4 (bought with his money) while we still have clunkers.

My older sister and her husband have more than we do. They do not care about cars either. And she enjoys her work so much, she has not quit her job. And they have traveled plenty too.
__________________
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is offline   Reply With Quote
Old 12-05-2017, 08:30 AM   #72
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 10,401
I see it differently. I'd rather spend now, than wait till I'm older and not able to enjoy it as much.

Quote:
Originally Posted by street View Post
I still think old school and lived frugal and saved all my life so NO. My spending won't increase for now. If I were in my middle 70's I might think about it different but not at 60.
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
It involved a mannequin hand, and an electric shaver taped to a golf club! - "The Other Guys"
Amethyst is offline   Reply With Quote
Old 12-05-2017, 08:37 AM   #73
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
street's Avatar
 
Join Date: Nov 2016
Posts: 5,064
Quote:
Originally Posted by Amethyst View Post
I see it differently. I'd rather spend now, than wait till I'm older and not able to enjoy it as much.
Yes I see it your way also and actually makes more sense. My thinking is I need a little more confidence being a newly retire I need to get down the road a little more before I spend more. You have made a great point though.
street is online now   Reply With Quote
Old 12-05-2017, 08:40 AM   #74
Thinks s/he gets paid by the post
flintnational's Avatar
 
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
Quote:
Originally Posted by kcowan View Post
It is part of an ongoing evolution. In 2002, our first year of retirement, we put together a plan that would take us out to age 100. It required close management of our equities and a measure of trading efficiency.

By 2007, we were doing well enough to purchase a snowbird property and that turned out to reduce our burn rate substantially, making the downturn in equities fully contained. Then when the markets recovered, we increased our annual transfer to the kids by 30% and increased our charitable giving. We also upgraded our quality of wine and liquor. We added a vehicle.

Our VPW is still under 2% so we are nowhere near having to cut back in a market correction. DW does not like seafood nor cognac, so the wine is for her. And she got the newer car. She is due for another one NOTB next year.
With our 3rd rebalance a few days ago, we are up to about 9 - 10 years cash/short term. At that point, SS and pensions will kick in and we will loosen our giving/kids transfer. We already spend about what we want. Hard to drop those LBYM tendencies.
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
flintnational is offline   Reply With Quote
Old 12-05-2017, 08:44 AM   #75
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 30,062
Quote:
Originally Posted by flintnational View Post
From Wikipedia, "The wealth effect is the change in spending that accompanies a change in perceived wealth"

Has the rising stock market changed your spending? We have not altered our basic budget, but we set up a Donor Advised Fund for charitable giving and will gift the DS and DD money for their Roth IRAs. Okay, I also bought a few nice bottles of wine and the whole Serrano ham mentioned in the Costco thread.

How about you?
Yes. Since we have retired 6 years ago, our retirement portfolio is 25% higher despite buying a winter condo, a new truck and building a 2 car garage... all for cash. Our targeted spending is about 25% higher as well. But we still like the thrill of finding a good deal.

Some of the increase is due to more confidence with the increase in our nestegg and some is due to more comfort with living off of our savings... I think in the first couple years of retirement that I was unduly conservative due to fear of the unknown.

That said, if the SHTF there is a lot of leeway to adjust... we have a fair amount of discretionary spending that could be belt tightened... we could apply for SS.... etc. but even now our WR is only about 3% so I'm sleeping well.

I actually fear "depriving" ourselves of good experiences now while we are young and can do things, travel, etc and end up dying rich and leaving large inheritances to our kids and charities than I fear running out of money.

(and I do now buy prosciutto rather than ham and sopresetta rather than salami.... so I'm trying :>)
__________________
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
pb4uski is online now   Reply With Quote
Old 12-05-2017, 08:45 AM   #76
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Lsbcal's Avatar
 
Join Date: May 2006
Location: west coast, hi there!
Posts: 7,499
Quote:
Originally Posted by Danmar View Post
If people don’t spend more when times are good, and certainly won’t spend more when the bear hits, why be in equities at all? Why not just annuitize? Why take the risk for no reward?
Risk for no reward ... nice way to put it.
Lsbcal is offline   Reply With Quote
Old 12-05-2017, 08:47 AM   #77
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 30,446
Quote:
Originally Posted by Danmar View Post
If people don’t spend more when times are good, and certainly won’t spend more when the bear hits, why be in equities at all? Why not just annuitize? Why take the risk for no reward?
Yeah!

Or haven’t increased their spending during these good times but still think they are going to spend less when the bear hits
__________________
Retired since summer 1999.
audreyh1 is online now   Reply With Quote
Old 12-05-2017, 08:56 AM   #78
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 29,850
Quote:
Originally Posted by pb4uski View Post
(and I do now buy prosciutto rather than ham and sopresetta rather than salami.... so I'm trying :>)
Thanks for reminding me to look for Jamón Ibérico on the Web. Been 10 years since we were in Spain, and I forget how it tasted.
__________________
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is offline   Reply With Quote
Old 12-05-2017, 09:11 AM   #79
Thinks s/he gets paid by the post
 
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
Quote:
Originally Posted by NW-Bound View Post
I took the reward early. I spent on more things in the last few years, and so have less need to spend now. If I feel like a new car, I will get one. But cars do not turn us on, and we can only travel so much. And I can only eat and drink so much.

Can't see myself upgrading to bigger houses. A lot of work!

I could give my children more money, but they already feel bad receiving so much from us. My son told me "Dad, you should get a decent car", because he felt bad driving his Audi S4 (bought with his money) while we still have clunkers.

My older sister and her husband have more than we do. They do not care about cars either. And she enjoys her work so much, she has not quit her job. And they have traveled plenty too.
So looks like you are left with giving it away to charity?
Danmar is offline   Reply With Quote
Old 12-05-2017, 09:17 AM   #80
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 29,850
I have been giving to charity, but it was not that much (one year, it amounted to 0.5% of WR or something like that).

No, I will leave the bulk of it to my children. They don't know really how much I have, hence my son's comment about me getting myself a "decent car".
__________________
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Experts - Has your view changed? Mysto FIRE and Money 33 06-16-2010 12:17 AM
Has anyones plan changed? bitteroot FIRE and Money 18 03-19-2009 09:16 PM
Poll: how has your net worth changed since market highs? free4now FIRE and Money 115 03-23-2008 08:46 PM
Has anyone changed to Hartford? dessert FIRE and Money 17 02-18-2007 09:41 PM
are you FI or at least half way there and has your attitude changed toward work? maddythebeagle Young Dreamers 35 11-12-2006 01:01 PM

» Quick Links

 
All times are GMT -6. The time now is 12:29 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.