How to Spend your Money for Maximum Happiness...

[skyking1]

This is a great topic, thank you. I agree with most all of the premises. Buying more time is simple in the context of this forum.
Strive to retire earlier by trimming your budget and figuring out creative ways to cut your overhead, long term.
Retire earlier = more time.

 

[HawkeyeNFO]

What the heck is up with Tunisia?

I've been to Tunisia. If I lived there, I'd spend money on international travel for myself - and I don't mean round trip.

 

[homestead]

What the heck is up with Tunisia?

Descendants of Pirates.

 

[RobbieB]

I love bending a motorcycle through curvy canyon roads.

But you have to buy the motorcycle first.

I love the solitude of fishing in the delta and I love the taste of fish that lived the day I ate them.

But you need to buy the boat first.

Yeah, I love the experiences!

 

[racy]

I love bending a motorcycle through curvy canyon roads.

But you have to buy the motorcycle first.

I love the solitude of fishing in the delta and I love the taste of fish that lived the day I ate them.

But you need to buy the boat first.

Yeah, I love the experiences!

+1
I like the solitude of moto camping ... need to buy motorcycle, tent, sleeping bag, cot & JetBoil first.
Guitar playing is a relaxing & mental exercise ... they don't give away guitars.
I enjoy participating on internet forums ... gotta have a computer though...

 

[Dash man]

I love the experience of drinking my morning coffee overlooking the ocean. I love daily walks on the beach. I also love bringing the family together to enjoy these experiences.
I also love having the ability to help others in need, to give that large tip to a struggling waitress or Grubhub driver, and supporting my church and charities that have struggled so much in this past year.

 

[Music Lover]

Time is precious—buy yourself some more of it

I did exactly that. My earliest retirement date to avoid a pension penalty was age 55. I took a year leave of absence prior to turning 55 but didn't start collecting pension until 55. I "bought" a year of time.

 

[intent]

I'm not sure what category this might fit into, but within the last couple of years I find I derive quite a bit of happiness from home improvements that address what I consider foundational issues. Basically, to me, a foundational issue is any item repair/improvement that either stabilizes the functional condition of the house (e.g., winterizing, painting, etc) and/or improves the functional condition of the house (e.g., new windows, trex-like decking, etc). The improvement has to be more than for cosmetic or convenience reasons though - something that will ensure the home is more likely to hold up well for another 2-3 decades.

For example, a kitchen upgrade/remodel that is primarily completed to make everything nicer, more modern - that doesn't really appeal to me.

Installing a new water heater to replace a 12-year-old model that hasn't failed yet, but is likely to soon - that's something that brings me happiness.

Then again, I was the guy playing the board game "Risk" who enjoyed amassing more and more armies on the few countries I controlled

 

[Focus]

This graphic has me puzzled too. It's from 2012. It's possible that the U.S. has shifted toward the purple side of the spectrum since then. Also, in other advanced economies people give more to others through higher taxes that fund stronger safety nets. Is that accounted for?

Found a link to the study the graphic came from: https://www.apa.org/pubs/journals/releases/psp-104-4-635.pdf

Based on a quick skim, it looks like the "spending on others" is limited to donations to charity, which would vary considerably from country to country depending on their cultural norms and the strength of their social safety nets.

 

[38Chevy454]

Nope. Giving is voluntary. Government-sponsored wealth confiscation is involuntary and does not constitute "giving."

Agree


Back to the original discussion, I think experiences have long been stated as producing longer happiness as opposed to material things. However material things can bring happiness as they allow one to experience happiness events as many have suggested. It would be much harder to have my camping experiences without my motorhome. Or being able to enjoy driving my old cars and attending a show with my friends without my own old cars.


I also enjoy helping others to understand financial aspects. Or making my yard look nice for others to appreciate when driving or walking by.

 

[brett]

The last time I was in a car dealership was when my spouse convinced me to go in a just 'bite the bulit' and buy a new car. Money is not an issue.

So we went, sat in the new vehicles. Very nice. Salesperson very helpful. One problem though...I really should be exited and anxious to get into that new car smelling Acura. But I was anything but. I could care less. Something wrong with me I wonder?

We left....spouse said I guess we are keeping the 97 Camry for a while. After all, it was only 14 years old at the time but it was fully loaded.

I changed the subject and said....lets go to Thailand.. and then Australia for two months or so.

She nodded in agreement. We did. It was much, much better than that new car feeling! Liked it so much we went again...and again. What good is a new car when we are away for four or five months a year??

Experiences are what count for us now, not things. After all, time is running out. Morocco is next, then back to Greece and to Thailand/Australia next winter IF they are open. New cars can wait.

 

[Chuckanut]

I did exactly that. My earliest retirement date to avoid a pension penalty was age 55. I took a year leave of absence prior to turning 55 but didn't start collecting pension until 55. I "bought" a year of time.

Great point. I bought an extra 3 years of time by retiring earlier than 65 and taking a cut in my pension. I will soon compensate for that by taking SS at 70.

Balance. Don't retire without it.

 

[Chuckanut]

We left....spouse said I guess we are keeping the 97 Camry for a while. After all, it was only 14 years old at the time but it was fully loaded.

I changed the subject and said....lets go to Thailand.. and then Australia for two months or so.
.

I used to tell others that my old Camry 2004, then my 2012 came with a two week trip to Europe each year. Alas, in late 2019 some guy totaled the 2012 Camry and I had to buy a new RAV4. Haven't been to Europe since them.

 

[street]

Thanks for sharing that Midpack. I can say we do those things and it does create happiness for us.

 

[AboutThere]

Great thread.

I do like my material things, like a fine watch or a well-balanced fly fishing combo. But yeah, put me on a trout stream with any old fly rod and a decent cigar and I'm good.

I do own a blindingly expensive stereo that I enjoy greatly...

 

[Ronstar]

Most of my discretionary spending is for experiences. Sure my ebike, hiking shoes, camera gear and woodworking tools/ supplies are "things", but they are things that enable experiences.

 

[Music Lover]

What good is a new car when we are away for four or five months a year??

Experiences are what count for us now, not things. After all, time is running out. Morocco is next, then back to Greece and to Thailand/Australia next winter IF they are open. New cars can wait.

As others have pointed out, everyone enjoys different experiences. If you're a car person you might enjoy a new car more than a trip. Neither choice is right or wrong.

 

[finnski1]

Great thread.

I do like my material things, like a fine watch or a well-balanced fly fishing combo. But yeah, put me on a trout stream with any old fly rod and a decent cigar and I'm good.

I do own a blindingly expensive stereo that I enjoy greatly...

What type of audio gear do you have? If you don't mind sharing I am always interested in this subject.

 

[Ole Red 29]

Money affords me the luxury to sit here on a cold weekday morning sipping coffee while all of my friends are busy at work. It also affords me the ability to help my friends and family with my time (or money) whenever they are in need. We are not so much materialistic as grateful for the time money affords.

 

[finnski1]

Money affords me the luxury to sit here on a cold weekday morning sipping coffee while all of my friends are busy at work. It also affords me the ability to help my friends and family with my time (or money) whenever they are in need. We are not so much materialistic as grateful for the time money affords.

Ditto. Snowing right now in southern NH. On about my 3rd cup already.

 

[pacergal]

Good article, I agree with much of it and utilize those points in my life.

 

[doneat54]

Good topic, one that we have been spending a lot of time thinking about. DW will retire in less than 1.5 yrs now and we have 2 homes, 6 cars (3 antiques) and lots of stuff. We are on a glidepath now to start downsizing.


The approach I take is ask yourself "What do you Value?". You don't value a new car. You (possibly) value the thought of have a brand new issue free car, one that has leather heated seats. Maybe it's all the tech. And maybe it's the attention it gets you?

Do you value a 4 bedroom 3000 sf home? No, you might value having ample space to host dinner, or overnight guests, or maybe (not in my case), the opulence of it.


Do you value travel? I sure do. But what do you really value about it? The excitement of experiencing new places? The feeling of closing the door on a rental car, starting it up and heading out in a new place/country to explore? The new dining offerings? Maybe an outdoor adventure or two, camping, hiking?

We find once we boil it all down to the humanistic things that we value, we can build back up from there a lifestyle/housing/transportation strategy that fits within out means/budget and ambitions...



We're not there yet, but are of that mindset to do it.

Also (as sort of noted above), one of my mantra's is "Life is not about things. It is about experiences and relationships".

 

[brett]

^ It took us less time than we thought. After downsizing/selling our home we put what was left in a storage container and travelled internationally for seven months.

Then we rented a furnished one bedroom suite for three months. After that we moved into what we thought would be a short term two bedroom condo rental. Short turned into four years. Nine years later we are still giving things away that we placed in that 8X8X16 container.

We did enough travel and stayed in so many different types of acomodation. We got used to not having 'our stuff' around us for a year. We realized that we did not need it all.

Since then we have had many wonderful travel experiences that for us have eclipsed the joy of 'things'. We have considered buying a second home in a number of areas...Mexico and Costa Rica. but have never wanted to tie ourself down to the same winter escaper year after year.

Looking back....so glad that we did not make any sudden decisions after downsizing with regard to where to live, what to buy, etc. Our preferences changed over the first few years or retirement/downsizing, etc.

 

[HI Bill]

...not really liking the way they do things (much as I feel about yard services.

My neighbors were paying $300 per month just for grass cutting. I lucked out and found a great yard service run by a guy with actual training in yard maintenance, pesticides, herbicides, etc. They come in every other week, trim the trees and shrubs, cut the grass, apply Round Up where needed, and clean up nicely. I couldn't be happier with their work! All for the same $300 monthly cost!

 

[Huston55]

My neighbors were paying $300 per month just for grass cutting. I lucked out and found a great yard service run by a guy with actual training in yard maintenance, pesticides, herbicides, etc. They come in every other week, trim the trees and shrubs, cut the grass, apply Round Up where needed, and clean up nicely. I couldn't be happier with their work! All for the same $300 monthly cost!

Yep, I used to pay for a yard guy. Once I realized I didn’t value a yard because it didn’t do anything for me, I started living in places without yards...and saving that $300/mo for something that does make me happy. [emoji4]