Hopefully sometime between 2028 and 2030.That is amazingly low! When do you intend to retire??
I think instead of 'life expectancy' people should consider how much 'fun time' they'll have to spend. My mom is 92, in great health and sharp as a tack (still drives!) but she couldn't spend $20K a year if her life depended on it. She now just likes to sit around, read a book, watch TV and take a nap. The most she does is go out to dinner and get her hair done.
Yeah, get me one on Amazon. Gotta be a big hit at Karaoke night.
Still very frugal, even though I don't need to be. A few years ago, I allowed myself to spend 'big money' on craft beer at $25 a case. But now the same stuff is $39 a case, and I can't (won't) do that. I do allow myself to buy lots of craft beer on sale, however. I am comfortable spending 'big bucks' as in flying somewhere for vacation, but it has to be a good discount deal, for me to be happy spending it.
When I worked in Big Oil I flew first class all the time. Then 30 years having my own company, I flew coach unless I got upgraded which was very frequently. I was in ALL the airline Frequent Flyer programs over the years and a Million Miler in two of them. I flew so much I hated it.
I still hate it and any U.S. travel we are planning, is driving trip. No more airplanes and airports for me.
BTW, i still have airline points and a ton of hotel points after ll these years. I give them away to family member if they need to make a trip.
I lost my points for 1 airline as I forgot about it. It was worth a couple of trips so slightly disappointing.
I received some good advice in my mid 60's from a couple in their early 70's. They were doing a lot of traveling, often 4 or more major trips each year. The told me that they observed that their older friends and relatives 'slowed down' once they hit 80. So they were going to milk their 70's for everything they could get.
.
What is your favorite activity or hobby? Let's say you like to listen to music. What I did is to create a budget - no, not that kind. I created a SPENDING budget! Meaning, I would force myself to spend some very small amount each month, like $10 on mp3s.Unfortunately, it's just ingrained in me to be frugal, which has also impacted my life and my relationships.
...
How does one overcome these kinds of struggles?
I"ve mentioned here a few times about an older guy I met in a tavern 10 years ago.
He said: "You're 60? Enjoy it now. Even if you live to be 90 all you've got is 15 more years...18 tops before you start to slow down, don't want to do what you now like to do, lose interest in other things and so on."
I"ve mentioned here a few times about an older guy I met in a tavern 10 years ago.
He said: "You're 60? Enjoy it now. Even if you live to be 90 all you've got is 15 more years...18 tops before you start to slow down, don't want to do what you now like to do, lose interest in other things and so on."
Uhhh...you ...mean...I...am...right...there......? (@ 78)
Of course, you are.
You just said in the earlier post that you no longer want to travel, and that you have seen enough.
But I used to drink Canadian Club Rye $18, and after reading a bunch upgraded to Bulleit 95% at $42 for 1.75L , a couple of months ago the price was jacked up to $49 and I stopped buying it.
Hard to break frugal habits..
When I was a big firm lawyer in NYC, I would fly all over the country to meet people, take depositions and go to court. Sometimes, acquaintances would say "that must be fun to get to travel so much". No, no it wasn't. Every time was a mad dash to the airport at the last minute, a miserable flight to somewhere, do my business and zip back to NYC as soon as possible. The only things I ever saw were the insides of planes and airport terminals, the back of the cab, law firm conference rooms, courtrooms, and occasionally the most convenient hotel, where I spent all my time reading documents, eating room service and preparing for the next day. Everything looked the same, and it was just plain drudgery.
I will fly to go on vacation, but only because I must.
Understood, we’re fortunate and grateful.Midpack, you have a good problem to have, that a lot of people would like to have. On the other hand, that good problem can be a problem in later years.
If we didn't have our son and his family to hand down a legacy too. We would be doing things a lot different when it comes to spending.
We spend alot but I also like to get a good bargain. I accumulate airline miles, some through conversions from timeshare, hotel points and cash back. We do quite alot of international travel until COVID hits and we haven't gotten back to Europe and Asia. Most of our business class tickets to/from international destinations are through miles. We also enjoy transatlantic cruises, which takes care of one way, and we only need to pay for the other trip back home.
I am Marriott Titanium which means we get lots of hotel suite upgrades in Europe, although their suite certificates are pretty worthless in US and Asia. We use timeshare in nice places which would have cost us alot more. For instance, we just spent 8 nights in a 2BR villas in Westin Kierland in Scottsdale AZ. If we paid rack rate to Marriott, it would have cost us $7K for the stay. Instead, my annual maintenance fees cost me about $1300 for the stay. In April of this year, we stayed in an ocean view 2BR villas at Marriott's Ko Olina in Oahu for 2 weeks. It cost me about $2.5K while I would have paid about $15K if we had booked through Marriott.com. Flights were in first class using airline miles.
There are some things which we don't get a bargain, like country club or dining out. We only buy USDA prime grade beef and organic produce and meat as much as we can find them.