Can you save too much?

bigadaj

Freddie isn't a troll in the traditional sense, he has some odd ideas but I think he's hit the classic problem of becoming retired and not having enough to occupy his time.

If he were actually a troll he's been very effective as people always respond and react, if you truly believe he is a troll then don't respond, it's fairly simple.

Dird

jimjames wrote: »

But at what age? Maybe in your 70s but is that the right attitude in your 30s?

In your 70s you are basically already dead. Not much point having a million to spend then as it will only go on some boring cruise or some care home where they spit in your food and make you bark like a dog

luvpump

"can you save to much" ? yes you most defiantly can, i have a 6 figure sum saved but should have invested in for instance, property a long time ago, particularly with interest rates so low, seemingly for the foreseeable future..
The "savings & investments" board became redundant a long time ago, in terms of non-risk investments at least ..

ArmyDilllo

bigfreddiel wrote: »

Having had the savings bug since my thirties I think I've saved too much and not spent enough!

Own my house, own my car, no debt, no dependents, have good pension - worked out the same as my full time working wage, and have getting on for £1m in various investments.

And I still have trouble justifying spending anything over £30!

Does anyone else have a similar problem? fj

Yep.
Depends on your aims for your own life of course.
Mine was to buy my way out of slavery.., well... employment... by covering my costs with savings and go tax-free as soon as possible.


I realised I'd achieved my aim a couple of years ago and only didn't retire then because a life-long friend asked me to help him set up a business.
Did that and retired last September.
I estimate my income will realise four times the outgoings I need for a basic lifestyle.
I plan to continue investing some of this in retirement, but now it's time to have some 'me-time' with the rest.


Good luck with your choices.
Have fun.

{ 8-]

Primrose

You are probably saving too much if you know the cost of everything and the value of nothing !

chucknorris

Dird wrote: »

In your 70s you are basically already dead. Not much point having a million to spend then as it will only go on some boring cruise or some care home where they spit in your food and make you bark like a dog

I guarantee that you'll think differently when you get into your late 50's, by the way what is your (estimated) time for running a marathon? Ed Whitlock ran a few sub 3 hours marathons in his 70's, the last one when he was aged 74. He ran a half marathon in just over 1 hour 50 mins when he was 85! Obviously I know that I won't be able to do that, but I'll be hoping to still doing over 10 mile hikes in my 80's (that's my target anyway).

jimjames

luvpump wrote: »

The "savings & investments" board became redundant a long time ago, in terms of non-risk investments at least ..

Shame that so many people have ignored the options on here for so long. If only they'd paid attention then they wouldn't still be earning a pittance on their cash ISAs.

markwilkinson

jimjames wrote: »

Shame that so many people have ignored the options on here for so long. If only they'd paid attention then they wouldn't still be earning a pittance on their cash ISAs.

Very true! I nearly/mostly missed the boat with the current account merry go round but managed to take advantage of a few still available. It's one of the disadvantages of not paying attention to what else is available and taking lengthy chunks of time away from this board.

gloriouslyhappy

george4064 wrote: »

Im desperately trying to save to afford my first house, I'd literally kill to be in your position right now.

No you wouldn't! Pedant alert - poor use of the word 'literally'..

Lolly88

gloriouslyhappy wrote: »

No you wouldn't! Pedant alert - poor use of the word 'literally'..

Hmmm I wouldn't be so sure about that. Don't underestimate how desperate some people are to get on the housing ladder.