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12-05-2017, 04:53 AM
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#61
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
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Quote:
Originally Posted by GrayHare
New car, caviar, four fish day dream,
Think I'll buy me a colonoscopy team?
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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
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12-05-2017, 05:01 AM
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#62
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
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Quote:
Originally Posted by ejman
Hum, add this thread to the Déjà vu feeling the party is about to end...
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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
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12-05-2017, 05:26 AM
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#63
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Full time employment: Posting here.
Join Date: May 2015
Location: Atlanta suburbs
Posts: 633
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Quote:
Originally Posted by NW-Bound
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.
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+1
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12-05-2017, 05:37 AM
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#64
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,410
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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
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12-05-2017, 06:01 AM
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#65
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Posts: 3,413
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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.
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12-05-2017, 06:06 AM
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#66
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
Posts: 1,219
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Quote:
Originally Posted by HFWR
The market giveth, the market taketh away...
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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
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12-05-2017, 06:09 AM
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#67
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
Posts: 1,219
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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
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12-05-2017, 06:21 AM
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#68
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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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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.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
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12-05-2017, 07:01 AM
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#69
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Recycles dryer sheets
Join Date: May 2011
Posts: 325
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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.
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12-05-2017, 07:05 AM
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#70
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 7,677
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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
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12-05-2017, 07:24 AM
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#71
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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 Danmar
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?
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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.
__________________
"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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12-05-2017, 07:30 AM
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#72
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,655
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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
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.
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__________________
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.
Even a blind clock finds an acorn twice a day.
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12-05-2017, 07:37 AM
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#73
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2016
Posts: 9,514
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Quote:
Originally Posted by Amethyst
I see it differently. I'd rather spend now, than wait till I'm older and not able to enjoy it as much.
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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.
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12-05-2017, 07:40 AM
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#74
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
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Quote:
Originally Posted by 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.
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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
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12-05-2017, 07:44 AM
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#75
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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: 36,363
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Quote:
Originally Posted by flintnational
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?
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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
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12-05-2017, 07:45 AM
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#76
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2006
Location: west coast, hi there!
Posts: 8,809
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Quote:
Originally Posted by Danmar
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?
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Risk for no reward ... nice way to put it.
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12-05-2017, 07:47 AM
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#77
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,140
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Quote:
Originally Posted by Danmar
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?
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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.
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12-05-2017, 07:56 AM
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#78
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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 pb4uski
(and I do now buy prosciutto rather than ham and sopresetta rather than salami.... so I'm trying :>)
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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.
__________________
"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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12-05-2017, 08:11 AM
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#79
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Thinks s/he gets paid by the post
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
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Quote:
Originally Posted by NW-Bound
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.
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So looks like you are left with giving it away to charity?
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12-05-2017, 08:17 AM
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#80
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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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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".
__________________
"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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