Living it up a little before retiring?

[RetiredAndFree]

To me, it was after my younger brother's death this year that ingrained this on me. I tried to splurge on him while he was alive, e.g, taking him to fancy golf course (one I would not play if it wasn't for my brother) when he was still able. When he passed away, I decided to splurge a bit when I can. Life is too short, cliche but very true.

I am struggling with this one a bit, perhaps because of retiring post-The Great Recession and having my confidence in our financial institutie ons shaken to the core as a result. While we aim to enjoy every dollar wset aside for R&R in our annual budget, our retirement budget is still a LBYM budget, just as it was pre-retirement. Perhaps it's just a case of old habits being hard to break, but at this rate our kids will be the big winners at some point down the road.

 

[NW-Bound]

...No one was more surprised than me when slowing down and touring the USA and Canada with our RV in tow became more alluring than flying or cruising off to another continent. In fact, cruising has pretty much lost all appeal, primarily because of the at-sea days. I needed those at sea days when I was decompressing from work, but now I find them annoying. I want to explore when I leave home, not pay to relax. I'm already relaxed! ...

You took the words right out of my [-]mouth[/-] keyboard!

However, I still like to make foreign trips, preferably to developed and safer countries where I have the audacity to travel on my own and do not have to rely on a tour guide.

On the other hand, my sister and her husband like to cruise. They are more extroverted, and enjoy the company of other cruisers.

 

[robnplunder]

Perhaps it's just a case of old habits being hard to break, but at this rate our kids will be the big winners at some point down the road.

My wife and I are aiming to spend all our money before we croak. My only child, from day 1 out of college, has been independent and would not hear of any "inheriting" from us. These make us feel a bit more liberated to spend in FIRE as we wish. In reality, my child will most likely retire well with what we leave him behind. But I (my wife may not) will still be hell bent on spending everything we got before we meet our maker .

 

[RetiredAndFree]

But I (my wife may not) will still be hell bent on spending everything we got before we meet our maker .

Yes, but what if you get that meet-your-maker date just a bit wrong . . .

 

[Ronstar]

I don't see a problem with splurging a little before retirement. To me it seems better to splurge while still working rather than during retirement, because there is usually some discretionary income to soften the splurge. I splurged for several years during my taper into retirement. Bought a lot of hobby toys to keep me busy. Now that I'm chock full of hobby gear and keep myself busy 24/7, I don't feel the need to spend much anymore

 

[RobLJ]

Yes, bought a nice new car and second home. Wanted to have some of those costs and expenses behind me and known for ER.

After the boys graduated from college, we bought a cabin in Colorado 3 years ago (I always regretted not buying my grandfather's cabin) and we've never regretted it. It's a loooonnnnggg day's drive from Houston.
We may sell it after retiring in a few years and moving to the Seattle area.
We may also replace the Outback when my wife gets her bonus next May/June, even though it could last another 4 years; this is anticipating retirement and not wanting to purchase again until SS kicks in in 10 years.
I find it a little weird being able on a monthly basis to buy a coat, a Yamaha receiver while my wife was travelling, etc. I limit it to one splurge per month. That will change in two years when I retire, but is an incentive to continue slaving for 18-24 months longer. OMY.
I do plan to semi-retire, even though I don't need to--barring a 2008 event.

 

[robnplunder]

Just ordered 2 DNA kits from 23andme for < $200. To me, this qualifies as a splurging it a little. LBYM me would not have done that just to satisfy my curiosity.

 

[Danmar]

Interesting thread. Your tastes do change pre and post retirement. While working, 4-5 day trips to a beach in Jamaica were great as were cruises. Weekend at the lake house were an absolute necessity. Now not so much. In the first few years of retirement we took family and friends with us on luxurious trips. Kind of got it out of our system I guess. Now after buying more vacation properties we tend to travel a little less. Instead invite friends to our places. I think you should balance spending with saving. It would be a shame if you were so successful at LBYM that you couldn't enjoy spending it in retirement. Not a problem that we have.

 

[robnplunder]

Interesting thread. Your tastes do change pre and post retirement. While working, 4-5 day trips to a beach in Jamaica were great as were cruises. Weekend at the lake house were an absolute necessity. Now not so much. In the first few years of retirement we took family and friends with us on luxurious trips. Kind of got it out of our system I guess. Now after buying more vacation properties we tend to travel a little less. Instead invite friends to our places. I think you should balance spending with saving. It would be a shame if you were so successful at LBYM that you couldn't enjoy spending it in retirement. Not a problem that we have.

I am on pre-retirement and just signed up Costa Rica tour for coming Jan.

I plan to travel a lot when I retire but your comment above makes sense somewhat.

 

[audreyh1]

I didn't have time to live it up before retiring.

Instead, we set aside a major cash stash before retiring to so we could live it up as soon as we retired.

Well, I did buy a new vehicle the year before retiring that I had never considered until I realized what I would be using a vehicle for after retiring (switched from a sedan to SUV, something I never considered while working/commuting).

 

[audreyh1]

This a good point. I discovered that some of my wants disappeared and/or changed after I retired. A lot of the stuff I was doing was to compensate for the stress at work. Once I retired and the stress went away I thought about things differently.

It was funny how after retiring we didn't need our sailboat anymore.

 

[Meadbh]

Interesting thread. Your tastes do change pre and post retirement. While working, 4-5 day trips to a beach in Jamaica were great as were cruises. Weekend at the lake house were an absolute necessity. Now not so much. In the first few years of retirement we took family and friends with us on luxurious trips. Kind of got it out of our system I guess. Now after buying more vacation properties we tend to travel a little less. Instead invite friends to our places. I think you should balance spending with saving. It would be a shame if you were so successful at LBYM that you couldn't enjoy spending it in retirement. Not a problem that we have.

While working, "living it up" meant eating in high end restaurants and adding a few days vacation to business trips. Vacations were <2 weeks, usually 1 week. In ER, it's great to have the flexibility to travel when I want to, but I am still trying to decide what is a travel budget that I can live with. I probably will increase my travel budget by 25% for 2014. I have invited family and friends to visit on numerous occasions but so far they don't seem to be interested.

 

[robnplunder]

Splurging continues. After Costa Rica trip in January, we are going for an Alaska cruise in June. Made a few dollar donation here and there. Fixed up my car to give it to my mom. Ok, the last two are not splurging. At this rate, this living up before ER may delay FIRE .

 

[robnplunder]

A little update - The living it up a little cost me 6 months of no savings (1st time this happened in my LBYM life). In fact, my cash reserve dipped. Thankfully, the continuing strength in stock market made up for the loss in saving. Next up, we will be playing golf in two of the Pebble Beach courses - one more item off of my bucket list.

Pura Vida.

 

[Hermit]

A little update - The living it up a little cost me 6 months of no savings (1st time this happened in my LBYM life). In fact, my cash reserve dipped. Thankfully, the continuing strength in stock market made up for the loss in saving. Next up, we will be playing golf in two of the Pebble Beach courses - one more item off of my bucket list.

Pura Vida.

I bought a Jeep Wrangler Rubicon a couple of months before RE. I've been on some awesome trails with it in the Rocky Mountains since RE. Money well spent.

 

[iam21177]

Splurges here and there are good! We are planning a 2-3 week hut hiking trip in the Italian Dolomites next year. It will be the biggest trip either of us have been on so far. Can. Not. Wait!!! But at the same time I feel a little guilty spending that kind of money.

 

[robnplunder]

Splurges here and there are good! We are planning a 2-3 week hut hiking trip in the Italian Dolomites next year. It will be the biggest trip either of us have been on so far. Can. Not. Wait!!! But at the same time I feel a little guilty spending that kind of money.

I know what you mean. At RE without the steady income I am used to, I don't think I can pull the trigger easily on some of the spending I do now (although FireCalc says I can afford it).

 

[Options]

With just 45 Tuesdays (every Monday off and every other Friday off) until ER, I don't dare take a vacation. I know I wouldn't come back.

I could probably ER today but refuse to calculate it because I'd be gone tomorrow. Deal with myself is that this year's earnings are going to pent-up spending demand (including some nice toys). Once these projects are completed this year/next, I'll start traveling extensively.

 

[RetiredAndFree]

I know what you mean. At RE without the steady income I am used to, I don't think I can pull the trigger easily on some of the spending I do now (although FireCalc says I can afford it).

I suspect that is a problem for more than a few of us. In our case, while we do feel comfortable spending 100% of our annual allocations (some of which accrue for infrequent large purchases), we don't feel comfortable as of yet increasing our pretty conservative withdrawal rate. There is no validity to that discomfort, based on the various portfolio longevity assumptions we've run, but it's there.

When we FIRE'd, we spent part of our last bonuses on a new travel trailer and SUV. They are both the building blocks of our ER life, utilized about five months of the year as we travel around the US and Canada. Next time around we'll likely buy used for all the obvious reasons, but it certainly was a fun way to launch ER. I've often wondered what our neighbors thought as we simulaneously ER'd and populated our garage with these shiny new toys. A lot of head shaking I would imagine.

 

[MRG]

A little update - The living it up a little cost me 6 months of no savings (1st time this happened in my LBYM life). In fact, my cash reserve dipped. Thankfully, the continuing strength in stock market made up for the loss in saving. Next up, we will be playing golf in two of the Pebble Beach courses - one more item off of my bucket list.

Pura Vida.

My last round of golf was on Pebble Beach. If you golf anything like me, bring plenty of balls!

They suggested a fore(sp?) caddy. Not sure what it cost, but it made the experience even better.

Best of all it cost me $0. A vendor took us out there. We spend a day in a nearby research center. They bought a bunch of technology experts, two, that had a title of 'fellow'. The second day was Pebble.

Not really sure what impressed me more, the technical folks were some bright people. Pebble was unreal, on normal courses I don't like holes with water. There it became a phobia.
Enjoy,

MRG

 

[robnplunder]

My last round of golf was on Pebble Beach. If you golf anything like me, bring plenty of balls!

They suggested a fore(sp?) caddy. Not sure what it cost, but it made the experience even better.

Best of all it cost me $0. A vendor took us out there. We spend a day in a nearby research center. They bought a bunch of technology experts, two, that had a title of 'fellow'. The second day was Pebble.

Not really sure what impressed me more, the technical folks were some bright people. Pebble was unreal, on normal courses I don't like holes with water. There it became a phobia.
Enjoy,

MRG

Thanks for the info. I will bring lots of balls and a camera .

Caddy service is $80+tips per bag per round. For two rounds for me & DW, caddy service will be $400 including tips on top of green fees, hotel, food, incidentals, .... For now, it is PBYM (playing below your mean) and I haven't requested the service.

 

[MRG]

Here's a description of a forecaddies job. I had never heard of one before Pebble. When we played, the course was in tournament cut. Anything in the rough, I wouldn't have found without his help. Made a much more enjoyable outing.
MRG

Forecaddie: Casual Level
Many golf clubs offer their patrons the option of employing a forecaddie who is, in effect, a caddie employed by a group of golfers. For example, the Redstone Golf Club in Texas -- home of the PGA Tour’s Shell Houston Open -- includes the services of a forecaddie for each group within the group’s greens fees, although the players are expected to tip the forecaddie as well. While the players’ clubs are transported on motorized carts -- because a single forecaddie obviously can’t be expected to carry three or four golf bags at once -- the forecaddie provides most other standard walking caddie services. Redstone’s forecaddies are expected to offer advice on the course’s hazards and features and help the players select the proper target lines. The forecaddies also care for the course -- raking bunkers and replacing divots when necessary -- tend the flagsticks, clean balls and clubs, and generally help players manage the course

http://golftips.golfsmith.com/forecaddie-vs-walking-caddie-20630.html

 

[brett]

We travelled a fair amount prior to retirement but we are travelling more often and for much longer periods-anything up to six months at a time.

So, yes we are splurging now BUT we found that retirement altered our lifestyle considerable. The big house and one car have gone. We now have a smaller place where we can lock the door and travel-especially for last minute specials.

I know several people who either passed away or became physically infirm at or shortly after retirement.

We are going to keep doing what we want while we have the money, the health, and the desire to do it. Having said that, live long habits of being frugal are hard to break....but getting easier as time goes by!

 

[LoneAspen]

I bought a Jeep Wrangler Rubicon a couple of months before RE. I've been on some awesome trails with it in the Rocky Mountains since RE. Money well spent.

I've owned Jeeps since 1992 when I first moved to Colorado years ago. First was a Cherokee (the original boxy one), and currently I own a 2004 Grand Cherokee with 173k miles on it. Best vehicle I've ever owned.

I will probably get a Wrangler Rubicon before I move back to Colorado in about a year. Was curious if you got the 2-door or the 4-door? If the 4-door, how well does it get around the trails with the added length?

 

[Hermit]

I've owned Jeeps since 1992 when I first moved to Colorado years ago. First was a Cherokee (the original boxy one), and currently I own a 2004 Grand Cherokee with 173k miles on it. Best vehicle I've ever owned.

I will probably get a Wrangler Rubicon before I move back to Colorado in about a year. Was curious if you got the 2-door or the 4-door? If the 4-door, how well does it get around the trails with the added length?

Yes, it is a 4-door. Not a problem on the trails at all. I really like the extra room for gear and everyday hauling stuff. This way I can take more friends on the trails. I'm running the original tires. Some slightly larger would be nice for the trails, but for overall use, the standard Rubicon tires are pretty good.