Enjoy life while you can.

Yellowvest23

Not sure if this is the correct section but had a thought provking conversation this morning with a neighbour.
Hes 77, worked all his life until 65,paid off his house about 30 years ago and has large small risk savings / investments around £400,000,no children and just a sole brother who moved to Australia and done very well for himself many years ago
He was telling me his biggest regrets in life was 1. Not retiring earlier 2.always living within his means and not spending more than came in each year.3.Thinking that wealth accumaltion was important,after getting a good rainy day fund of a couple of years salary. 4. Not realising when he was much younger how much more money can be enjoyed when young and fit as opposed to old and restricted.
Number 3 after a life time of thinking it was he says becomes very hard to get out off and it becomes a disease in some who never end up enjoying the fruits of their labour.
His last comment to me was spend,spend,send and enjoy it while you can.

jimi_man

And he's definitely not Rishi Sunak, right?

Yellowvest23

No ,I doubt if this guy has given or taken much in his life very independent,unlike Riski who after his ridiculously generous giveaways will have to start recouping at some stage.
The main thing i took from him was how wealth accumalation becomes a disease for some who never really enjoy it or get to old  to really enjoy it like they could have in their younger days.

grumiofoundation

Yellowvest23 said:

Not sure if this is the correct section but had a thought provking conversation this morning with a neighbour.
Hes 77, worked all his life until 65,paid off his house about 30 years ago and has large small risk savings / investments around £400,000,no children and just a sole brother who moved to Australia and done very well for himself many years ago
He was telling me his biggest regrets in life was 1. Not retiring earlier 2.always living within his means and not spending more than came in each year.3.Thinking that wealth accumaltion was important,after getting a good rainy day fund of a couple of years salary. 4. Not realising when he was much younger how much more money can be enjoyed when young and fit as opposed to old and restricted.
Number 3 after a life time of thinking it was he says becomes very hard to get out off and it becomes a disease in some who never end up enjoying the fruits of their labour.
His last comment to me was spend,spend,send and enjoy it while you can.

Agree with his sentiment but not his final comment.

Spending, spending, spending does not inherently equate to 'enjoying life'.

dunstonh

Spending without saving just means you will suffer at some point but not immediately.

2nd_time_buyer

"always living within his means and not spending more than came in each year."
Fully agree with this one. When I think back to University, for just a few thousand pounds of debt - I had almost limitless nights out, fun and hangovers. By far the best money I ever spent.

I do feel sorry for students these days. They end up with 10x the debt and a fraction of the fun (particularly now that most of them are remote learning).

MACKEM99

You come into this world with nothing, if you go out in debt you have made  profit.

Terron

1. Not retiring earlier that 65 - I agree, but to retire earlier you need to save.

2. Always living within his means - I disagree. The few times I haven't I was not happy. Also it contradicts his first point.

3. Wealth accumulation - I partially agree. Once you have enough to live on for the rest of your life that is enough.

4 Money can be enjoyed more when young - I partially agree - it is also easier to enjoy yourself without money when young.

Yes changing can be hard. I had just started to do so a year ago when I went to South Africa to watch some tests. I had hoped to watch some more abroad this winter, but Corvid intervened.

I totally disagree with spend, spend, spend. Spend what you have left over, but save enough to be able to retire early.

Langtang

Yellowvest23 said:

Not sure if this is the correct section but had a thought provoking conversation this morning with a neighbour.
Hes 77, worked all his life until 65,paid off his house about 30 years ago and has large small risk savings / investments around £400,000,no children and just a sole brother who moved to Australia and done very well for himself many years ago
He was telling me his biggest regrets in life was 1. Not retiring earlier 2.always living within his means and not spending more than came in each year.3.Thinking that wealth accumaltion was important, after getting a good rainy day fund of a couple of years salary. 4. Not realising when he was much younger how much more money can be enjoyed when young and fit as opposed to old and restricted.
Number 3 after a life time of thinking it was he says becomes very hard to get out off and it becomes a disease in some who never end up enjoying the fruits of their labour.

This struck a chord with me just now. both of my in-laws passed away in the same week in August last year. MIL had been in a care home since late'18, and FIL had been shielding since March '19.

FIL had been very successful in his career and had built up a sizable estate through saving and investing, yet he would re-use this and that rather than buying new. He drove a 23 year old Volvo (we only got him to change it in 2017).

He just couldn't get out of "saver" mode and into "spender" mode. I guess with my wife now inheriting the estate, we may be more in the spender mode because it isn't "our" saving, if that makes sense.

Carpe Diem indeed.

doingitanyway

Thanks @Yellowvest23 It is the right place to post.
Thanks for sharing a different perspective.

Arthurian

Frugal habits save the planet. 

Just knowing you have a good safety net of money tucked away gives incredible peace of mind.  You don't have to spend it to have a smile on your face.