Big Splurge on Retirement

[RE2Boys]

Retirement at 50 with two pre-schoolers WAS the bigh splurge! It took me about 5 years more to convince myself that we'll be just fine and it was the right move.
That was 13 years ago.

Just remembered another "splurge" from that first year, a pop-up camper that led to many fond memories and good times when the boys were young. Still have it (paid a whole $3500 for new, old stock one from a dealer going out of business) but it now only leaves the driveway about two times a year.

 

[hsmom4]

Very nice ride OP. The major splurge for us, will be a cruise for our family (six of us). It's something we haven't been willing to do in the retirement/college saving years, but we definitely plan to do it. We'll have a separate fund for it, so it won't feel like we're taking away any money from our retirement budget. Now we just need to figure out the destination.

 

[dtbach]

The thing with some of these higher end cars, they may be an initial splurge, but you get to keep slurging on insurance, gas, tires/maintenance, and then the worry of some moron scratching or denting your beauty. Don't mean to be a buzzkill, but just some food for thought from an exotic car lover

YES, you ARE a buzzkill I'd go for it. You only live once and why not have a blast since you are retiring early. I just bought a new Mazda CX-5 (yeah, I know its not even close to a Jag) and love it. I'm thinking once the girls go off to college in 3 years it will be time to jettison the van and get a Miata (or even a JAG!!)

 

[haha]

My take is that you might consider splurging on something that makes you happy. Conspicuous consumption has been tested in many experiements against happiness. If you buy-in to those goofy psychologist's tests, buying something to show off always comes up short on the happiness scale, I'm afraid. If you can show-off and create a chunk of life you didn't have (like taking up RVing) I think that's a different story. If you want to "enjoy the doing as much as the done", then buying a car is all "done".

I would evaluate these two examples diametrically opposite to what you have done. First of all, the are many pleasures from a well chosen car. Likely many car lovers would place showing-off in about 104th position, if it placed anywhere.

Then there is how often you use it. Car-everyday. It is far from "done" when you buy it, the pleasure is renewed every time you smell the leather seats or feel the cornering ability or the push against your back if you put your foot into it. RV -likely 50 days a year would be heavy usage.

Esthetics- no matter how much you spend on an RV, at best it is an eyesore, While many luxury cars and sports cars are so beautiful that they are found in museums at times. And as far as activities, would it be more fun to drive your Mercedes AMG or Audi S-8 down to the golf club or tennis club, or spend a day loading your pusher and then trying to find a place to park it?

What money gets you depends very closely on who you are. I believe there are not many accurate generalizations.

Ha

 

[Beryl]

This was my biggest splurge since ER and I'm loving it right now (while posting this):
http://www.early-retirement.org/forums/f28/can-i-afford-it-62644.html

Prior to that (right after ER), I splurged on a home generator which has given me great peace of mind.

My next splurge will likely be an electric self-driving car. I can't wait!!!

 

[hakuna matata]

My take is that you might consider splurging on something that makes you happy. Conspicuous consumption has been tested in many experiements against happiness. If you buy-in to those goofy psychologist's tests, buying something to show off always comes up short on the happiness scale, I'm afraid. If you can show-off and create a chunk of life you didn't have (like taking up RVing) I think that's a different story. If you want to "enjoy the doing as much as the done", then buying a car is all "done".

Interesting take on it--I am not buying it to show off though. I am buying it because of the aesthetic of the car appeals to me as an Architect, and also the way I anticipate it will handle. Now granted if I drive it and it isn't what I am expecting I likely won't buy it. But based on the reviews I fully anticipate if I drive it that will increase my desire. One reason I haven't scheduled a test drive yet. I honestly think the car will make me happy.

Once I drove the BMW for example I immediately wanted to buy it. I bought the Miata for the same reason--although after driving the BMW the Miata wasn't as much fun as before I will grant you. I don't drive a lot but when I do I like to enjoy the drive.

ahh--I see haha has addressed the same point

 

[FIREd]

We have not splurged on anything major since I retired, but lately we have been contemplating a big reno for our Southern house (kitchen, flooring throughout, bathrooms, backyard). It will likely be our retirement home when DW quits her job and we would like it to be all done before we move back in. I am looking into redoing the backyard right now, and I am getting some pretty hefty quotes (~$75K) so perhaps we'll have to do it in stages.

 

[EllisWyatt]

Then there is how often you use it. Car-everyday. It is far from "done" when you buy it, the pleasure is renewed every time you smell the leather seats or feel the cornering ability or the push against your back if you put your foot into it. RV -likely 50 days a year would be heavy usage.

Esthetics- no matter how much you spend on an RV, at best it is an eyesore, While many luxury cars and sports cars are so beautiful that they are found in museums at times. And as far as activities, would it be more fun to drive your Mercedes AMG or Audi S-8 down to the golf club or tennis club, or spend a day loading your pusher and then trying to find a place to park it?

What money gets you depends very closely on who you are. I believe there are not many accurate generalizations.

Ha

Agree 100% Well said.

 

[Jack_Pine]

The splurge is in our plan.

1. We will sell our main home and build on the cabin property. (hopefully close to a wash)
2. Trade TT for Motor Home for commuting to snowbird place fro winter and for general camping.
3. Some kind of restored muscle car convertible for a "fun" car.

We plan to pull the plug in 3 years. We may execute 2/3 before then but not sure.

 

[REWahoo]

Esthetics- no matter how much you spend on an RV, at best it is an eyesore...

Even an old curmudgeon should know beauty is in the eye of the beholder.

What money gets you depends very closely on who you are. I believe there are not many accurate generalizations.

So true - your generalization disparaging RV's makes your point beautifully.

 

[Jack_Pine]

Even an old curmudgeon should know beauty is in the eye of the beholder.

So true - your generalization disparaging RV's makes your point beautifully.

How about if I tow a beautiful car with my RV?

 

[Birchwood]

We, too are moving to Colorado!
We'll bring my Ford F150, my Honda Accord coupe, My wife's Altima-No new car-although I dream of a 2015 Mustang GT.

I'll get a new bicycle.
One or two camera bodies, a Nikon D600, and perhaps a Fuji X100s.
A new hiking boots!

Perhaps a short cruise once a year.

We're thinking of driving the Honda(2008) and Altima(2007) for long road trips until they reach 80000 miles each!-

Nothing very big.

 

[REWahoo]

We're thinking of driving the Honda(2008) and Altima(2007) for long road trips until they reach 80000 miles each!-

Why would you get rid of them with such low mileage? We have 110k on our 2008 Honda and our neighbor has a 2003 with 250K (80+ mile daily commute).

 

[Beryl]

We, too are moving to Colorado!

What makes our state so attractive to you?

 

[davemartin88]

When I retired in 2008, I bought a 2007 Pontiac Solstice- the cheapest new 2 seat convertible on the market, think I paid about $17K. I don't drive it a lot but enjoy it every time I take it out. At the time I purchased the Solstice, I also had a 1956 MGA but wanted a dependable 2 seater, DW didn't enjoy the AAA sponsored trips back home in the MGA very much. Sold the MGA when we moved to WV. Turned over 6000 miles on the Solstice the other day, need to drive it a bit more to get my costs per mile down.

The jag looks fantastic and bet you'll drive it a lot more miles than I do my 2 seater!

 

[Jack_Pine]

That MGA would be sweet.

We are trying to decide between a pure sports car or the re-done muscle car. I would like a Chevele SS convertible but think DW would prefer something more modern and sporty.

 

[Birchwood]

Why Colorado?

My only daughter lives in Omaha.
We are looking for a place with a good combination of outdoor activities, close to a big city, with active photography clubs, hiking clubs, biking, and Colorado appears to match well.
We're looking at Loveland/Fort Collins area.

OK, we"ll prob. drive the Honda and Altima to 100K miles.

I've heard about the nasty car tax in Colorado. Might as well keep the cars as long as I can.

 

[sengsational]

Then there is how often you use it. Car-everyday. It is far from "done" when you buy it, the pleasure is renewed every time you smell the leather seats or feel the cornering ability or the push against your back if you put your foot into it.

For me, a new car is cool the first month. Then it does what every car I've had did in the past. Get me from A to B. But I won't argue that for some people, there's more to it than that.

RV -likely 50 days a year would be heavy usage.

My FIL was talking about his neighbors who live in their RV for the winter months in Florida. That's a lifestyle change. It might be horrible for some, but they apparently love it.

I think I'm narrowing in on it, though. It's not the buying of the item, it's how the item is used that may serve to increase happiness. I'm reading this book by Jonathan Haidt where he says:

Set for yourself any goal you want. Most of the pleasure will be had along the way, with every step that takes you closer. The final moment of success is often no more thrilling than the relief of taking off a heavy backpack after the end of a long hike. If you went on the hike only to feel that pleasure, you are a fool.

There's a lot of context around that, but for me, buying something, unless it really changes something in my life, isn't going to move the happiness needle very far.

 

[haha]

Set for yourself any goal you want. Most of the pleasure will be had along the way, with every step that takes you closer. The final moment of success is often no more thrilling than the relief of taking off a heavy backpack after the end of a long hike. If you went on the hike only to feel that pleasure, you are a fool.

Maybe so, but how long would you go on making love if someone stopped you every time you approached nirvana? In ski-ing is the pleasure in the run, or in driving 4 hours through a blizzard on mountain roads and waiting in lift lines?

I have a suspicion that some of these guys who write books about pleasure haven't had much of it.

Last winter I spent $2k to change the heat in my apartment. IT was warm before, but just not pleasant. I am 100% sure that as long as i live here, I will walk out on a winter morning and turn up the thermostat and sit down to read my paper being grateful. Much more that if I had spent the $2k to spend Christmas in Munich, for example, then come home and had my head hot and my feet cold as with my previous heating system.

It could be that this is just one more example of how dramatically different people can be from one another.

Ha

 

[sengsational]

It could be that this is just one more example of how dramatically different people can be from one another.

Ain't that the truth! I'd like the drive through the blizzard (in my reliable yet otherwise unremarkable car with the car's heat blasting my head) more than freezing my *ss off on the downhills

I'm not sure those authors have everything right, but one thing that keeps showing up over and over again throughout history, currently in clever experiments, and in fMRI tests...humans are notoriously bad at predicting what will bring them more happiness.

 

[jollystomper]

DW and I are planning several "splurges", but it is built into our retirement budget. Taking them into account is why we are targeting for $100-110K annual spending vs. the $85-$90K our "retirement budget" spending tests are showing.

 

[donheff]

I think he just doesn't know "How" to spend it to be honest. He and his wife (who unfortunately passed away last year) scrimped and saved their entire life... And I have to admit even for my friend has started to ease up--since his wife passed he outfitted a 'man cave' with a slot machine, tv, etc.

Don't worry. He will probably eventually meet some 70+ hottie on eHarmony and plummet into a second youth, spending with abandon on fine wine and travel.

 

[HFWR]

Even an old curmudgeon should know beauty is in the eye of the beer holder.

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