What is your financial Achilles' heel?

[Moemg]

Grand kids !

 

[athena53]

Definitely travel but I figure as long as I keep all the bills paid and the WD rate under 3% I can do whatever I want with the money.

 

[nash031]

I like cars, but have controlled that as I’m still driving an 07. Though if my wife keeps being open to the Tesla idea...

 

[RobbieB]

Wine, women and song.

The rest I'll just waste.

 

[Lsbcal]

Mine is probably DS. Gave him $2k last year to fund a Roth IRA. During a visit he shows off his new tattoo which will be $1500 when it is complete. He did set up that Roth though. Still I am learning about unintended consequences. Money is a fungible item.

Grand dog ... cute phrase.

 

[gerntz]

Louie Vuitton bags.

Paper or plastic?

 

[Senator]

I'm with you on the ice cream and the estimated taxes. Federal tax, state tax, sales tax, property tax, ALTERNATIVE MINIMUM TAX. Sometimes I feel like more money is going out in taxes than is coming in.

The lovely ladies however will have to supplement their income without my support. I'm sure they'll do fine - but I must wonder - do they pay their estimated taxes?

I also allow blizzards, frosty's, cement mixers, shakes, malts, and custard (Culvers) to be considered ice cream.

I am guessing that very little gets claimed on the dancers tips.

 

[kcowan]

Shoes! Since I have had plantar fasciitis and a broken foot, I spend way too much on foot comfort.

 

[Dash man]

Real estate. I told myself I wanted to get out of the rental business. This past week we bought a New Jersey beach house which is the most expensive property we’ve ever purchased. Rental income of $4000/week plus being able to use it ourselves for this newly remodeled home was just too tempting. Plus we need to contact an architect to plan an addition for a master bath and other modifications they didn’t include in the remodel.

 

[whatnot]

Travel

 

[misshathaway]

Gadgets. Just ordered brushes that you can attach to your hand-held drill for scrubbing the shower.

 

[97guns]

I’ve become a passive income junkie, can’t get enough money that I don’t work for

 

[mrfeh]

Seems like the responses are a mixed bag of 2 (IMO) categories: things you can control, and things you can't control.

I'm not worried about spending I can control. My achilles heals are health insurance and possibly having to support an aging parent.

 

[GravitySucks]

Fear.
Greed.
DD2.
Pets.

 

[Aerides]

Really really nice hotels. I will book a shorter trip to stay 5 star.

And cats.

 

[Moemg]

Gadgets. Just ordered brushes that you can attach to your hand-held drill for scrubbing the shower.

You do not need to scrub your shower .Mix one cup dawn detergent with one cup of vinegar in a spray bottle . Spray the shower and wait two hours . The soap scum can just be rinsed away . I have tried everything but this really works . The only downside is the smell .

 

[dvalley]

Buying old cars, fixing them up and selling them for less than I have in them. Sounds foolish, but it keeps me occupied and out of the bars.

LOL, I thought I was the only one

My list:
Buying old project cars or just cars - check
Lengthy, expensive divorce - check
Member of Amazon Prime (aka money hemorrhage club) - check
Helping out family, ex-gf etc - check
Animal care - check
House needed AC, roof, etc - check

Been there done it all...

 

[SlowTwitcher]

My dad had a $100 pet care rule. I think that was the price to put them down. So he was in for no more than that.
For me, craft beer. Founder's KBS pouring local brewpub couple nights ago. Didn't even ask the price. Three beers in before
I find out they are $14 a pour. With tax and tip over $50. Crazy.

 

[W2R]

Since my 2009 retirement, as you know we have had a crazy, runaway bull market. I am the textbook example of a great sequence of returns. I keep trying to spend more but because the portfolio goes up the WR does not budge. It's going to be quite a shock when the market turns around, and I can't get away with this crazy over-spending behavior any more.

So, I'd say that my financial Achilles heel is the bull market. It is going to be such a huge sucker-punch when the market turns around. Meanwhile this year my projected spending is about 1.7% despite extensive dental work. Total insanity!

 

[erkevin]

Greatest financial liability: health insurance premiums. I paid $418/mo in 2017. Will be paying $660/mo in 2018. 2019? 2020? It keeps me up at night.

 

[MichaelB]

Based on prior experience, I'm sure i can deal with unexpected inflation, bad markets, relatives in need, unplanned expenses. The one financial risk that would leave us in a financially bad way would be me doing something dumb with the portfolio. Based on experience or undetected senility / dementia, it could happen.

 

[Danmar]

Seems like the responses are a mixed bag of 2 (IMO) categories: things you can control, and things you can't control.

I'm not worried about spending I can control. My achilles heals are health insurance and possibly having to support an aging parent.

This makes sense. If you can easily cut back if necessary, I wouldn’t call it an “Achilles Heal” In Achilles’ case the arrow was fatal.

In my case, although I like to spend a lot on discretionary items, it’s hard to imagine a true “Achilles Heal” that wouldnt be a catastrophic black swan event that would affect everyone,

 

[Lsbcal]

Based on prior experience, I'm sure i can deal with unexpected inflation, bad markets, relatives in need, unplanned expenses. The one financial risk that would leave us in a financially bad way would be me doing something dumb with the portfolio. Based on experience or undetected senility / dementia, it could happen.

Just keep posting here and we’ll tell you when you go over the edge.

 

[Lsbcal]

You do not need to scrub your shower .Mix one cup dawn detergent with one cup of vinegar in a spray bottle . Spray the shower and wait two hours . The soap scum can just be rinsed away . I have tried everything but this really works . The only downside is the smell .

Great idea. I love these little nuggets of wisdom. Thanks.

 

[KM]

Grandchild. Yeah....the grandchild.