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-   -   Blow that dough (It's official now) (https://www.early-retirement.org/forums/f28/blow-that-dough-its-official-now-89863.html)

braumeister 12-19-2017 03:20 PM

Blow that dough (It's official now)
 
Funny bit in Bloomberg today:
Quote:

You should be spending more money in 2018.
Some financial services firms are telling retirees to make an unusual New Yearís resolution: start blowing through more of their savings. In theory, that should be a pleasant prospect. In reality, itís hard to flip a mental switch after decades of saving.
Why You Should Be Spending More Money in 2018

Just like RobbieB has been telling us all along. :dance:

foxfirev5 12-19-2017 03:28 PM

My biggest problem is that if you endured years of sacrifice to get this point of picking up on the W/D is pretty sad. WOW you missed out on your best years. If I had any advice to give it would be a balance of savings and spending. Of course my opinion is biased based on my own situation.

athena53 12-19-2017 03:31 PM

I'm going to ignore them. Just as I'm going to ignore the "experts" who tell us to spend less next time the market takes a dive.

Live And Learn 12-19-2017 03:32 PM

Over the past few weeks I've been concerned that I've been sort of "complacent" about the extra spending I've been doing. I'm still within overall budget, but some of the spending is "wasteful" in my LBYM mind.

Rather than spending more next year I am resolving to get back to my normal spending habits, which give me a comfortable life without waste.

Danmar 12-19-2017 03:35 PM

Yes, I plan to spend more next year and this year too. Have liquidated funds to do so. The Canadian market hasn’t risen as much as the US but still double digits returns for me 5his year and about 25% last year. Pretty clear to me I am past the worst period of sequence of return risk.

joeea 12-19-2017 03:42 PM

The article says "wealthy" retirees should learn to decumulate faster. Fair enough.

Those who aren't so wealthy probably should be more careful.

One thing I'll disagree about. The article stated "Boomers have defined benefit pension plans ". If they had written "some Boomers" it would have made more sense.

W2R 12-19-2017 03:44 PM

I keep trying to increase my WR (thus spending percentage), but my portfolio keeps growing so it hasn't gone up this year. What's a retiree gonna do? :laugh:

Oh, maybe I know! Buy a new SUV, that ought to do it..... ;D

I'm doing my best :baconflag: to singlehandedly prop up the US economy. ;)

gayl 12-19-2017 04:18 PM

Trying to do my part but as foxfirev5 said it's hard after a lifetime of being frugal. But I'm learning. Started RE with a goal of putting aside $1375 month for travel / transferring to next generation. Wound up with 3 long trips paid in full (next one on February), handing out $$ tonight (last night of Hanukkah), only shifted 6k to investments, and savings up only 1k -- so close.

Like joeea I also wonder about the definition of 'wealthy.'

Agree with Athena53 -- markets go up & down -- ignoring market gurus is probably safest course

:dance: Happy Holidays Yall! :dance:

dtbach 12-19-2017 04:31 PM

I finally started to take the "magical" 4% and can't really spend it all! Guess I need to order more appetizers and deserts. . . .

Sunset 12-19-2017 04:34 PM

Quote:

Originally Posted by athena53 (Post 1982460)
I'm going to ignore them. Just as I'm going to ignore the "experts" who tell us to spend less next time the market takes a dive.

I agree, as these same experts probably told people the same thing in 1928.... :facepalm:

Walt34 12-19-2017 04:37 PM

Quote:

Originally Posted by Sunset (Post 1982506)
I agree, as these same experts probably told people the same thing in 1928.... :facepalm:

But wait... It's different this time!:laugh:

W2R 12-19-2017 04:41 PM

Quote:

Originally Posted by dtbach (Post 1982505)
I finally started to take the "magical" 4% and can't really spend it all! Guess I need to order more appetizers and deserts. . . .

Today I ordered one of those oh-so-tempting fancy salads, even though it cost twice as much as my usual cup of soup. It consisted of mixed greens, marinated artichokes, red onions, roasted cherry tomatoes, capers, walnuts, salami, and basil pesto vinaigrette dressing. I thought it had some feta cheese in it but apparently that was just my active imagination because it isn't supposed to have cheese.

Anyway it was huge, and probably wasn't one bit slenderizing but I thought it was delicious and sure filling. Brought half of it home. The cost and calories are why I hadn't ordered it before. I literally did justify it to myself by thinking of recent market gains. :laugh:

Car-Guy 12-19-2017 04:42 PM

Quote:

Originally Posted by W2R (Post 1982471)

I'm doing my best :baconflag: to singlehandedly prop up the US economy. ;)

Trust me, you are not alone. :)

aja8888 12-19-2017 04:44 PM

Quote:

Originally Posted by Car-Guy (Post 1982512)
Trust me, you are not alone. :)

+2

W2R 12-19-2017 04:47 PM

We can do it, gang! :rofl: Oh, the sacrifice. ;D

:baconflag: :baconflag: :baconflag:

HadEnuff 12-19-2017 04:48 PM

Dow went down 34 points today. Time to tighten the belt a notch.

MRG 12-19-2017 04:55 PM

Quote:

Originally Posted by Sunset (Post 1982506)
I agree, as these same experts probably told people the same thing in 1928.... :facepalm:

The ole man told me the party continued well into '29.

MuirWannabe 12-19-2017 05:01 PM

Quote:

Originally Posted by W2R (Post 1982509)
Today I ordered one of those oh-so-tempting fancy salads, even though it cost twice as much as my usual cup of soup. It consisted of mixed greens, marinated artichokes, red onions, roasted cherry tomatoes, capers, walnuts, salami, and basil pesto vinaigrette dressing. I thought it had some feta cheese in it but apparently that was just my active imagination because it isn't supposed to have cheese.

Anyway it was huge, and probably wasn't one bit slenderizing but I thought it was delicious and sure filling. Brought half of it home. The cost and calories are why I hadn't ordered it before. I literally did justify it to myself by thinking of recent market gains. :laugh:



Really? A salad? Slow down girl! Youíre blowing that dough like a maniac. [emoji4]

W2R 12-19-2017 05:04 PM

Quote:

Originally Posted by MuirWannabe (Post 1982528)
Really? A salad? Slow down girl! You’re blowing that dough like a maniac. [emoji4]

:laugh: It was delicious, and not cheap like a little side salad - - with tax and tip it was $11-$12, blow that dough! :dance:

W2R 12-19-2017 05:08 PM

Quote:

Originally Posted by HadEnuff (Post 1982517)
Dow went down 34 points today. Time to tighten the belt a notch.

But Wellesley dividends showed up, so today the total of my investments plus bank accounts was higher than it has ever been in my life.

Plus, it is hard to get upset about the Dow being down to 24,755. Simply amazing!


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