Enjoy life while you can.

green_man

I bet for every person wishing they had spent more that there are 10-100 that wish they had saved more!

It’s easy to think at 77 with a big pot that you should have spent more, but what if he needs to go into a nursing home, he will have the pick of some very nice options rather than scraping the barrel.

On the other hand there are a few that seem overly cautious on when to retire etc.

Marcon

Yellowvest23 said:

His last comment to me was spend,spend,send and enjoy it while you can.

...and you'll find plenty of people struggling to get by in old age because that's exactly what they did during their working lives; a number which will only increase, especially as so many people today subscribe to that rather silly sentiment. There's a balance to be struck in all things and sadly he seems to have missed it.

Time4T_Accounts

Having (mostly) packed in work 3 years ago at age 60, having saved into DC pensions since the age of 30, I am trying to consciously break the accumulation habit by looking at money now as an ‘enabler’.  Yes, it needs to enable a good quality care home in the fullness of time, but also to enable other ideas to happen in the meanwhile.  

zagfles

The problem is saving is often seen as denying yourself, and spending as enjoying yourself.

Like above, a lot of people say they enjoyed themselves much more when they were a student, or young. I'd agree. But I spent far less as a student than I spend now. I lived on maybe £3-4k a year, maybe equivalent of £8-10k now. And had a great time.

I used to go backpacking all round the world sleeping in dorms in often grotty hostels, they were the best holidays of my life. Far better than ones staying in luxury 5* hotels.

I don't deny myself stuff. If I want to do something, I'll do it. But I won't spend more than I need to, under the illusion it'll make me happier. I went on 6 foreign holidays in the 12 months before lockdown, but I spent less than some people spend on a single holiday. We eat out a lot, but I prefer a £10 curry to lobster and caviar. We have no interest in designer clothes, handbags, flash cars etc so we don't buy them.

The other thing is work. The idea that the only benefit people derive from working is their paypacket. I know people who've enjoyed their work, but retired just because they could afford to, or had reached retirement age, and then got bored and started doing voluntary work very similar to their paid job!

I've reached the stage where I can afford to retire, but instead I've reduced my hours, bought extra holiday, so I'm still working, because I enjoy it, I like the people, I want more time off (well once this current situation is over), so I've cut my hours and increased my holiday. Luckily I have a flexible employer who needs me!

But as I'm in a situation where I can afford to retire, there's no pressure on me at work. I avoid the boring stuff. I just don't do stuff I am supposed to do. I simply don't care if I get marked down on my appraisal, if I get disciplined, or even if I get sacked. But I know I won't be because they need me and they'd be stupid to get rid of me just because I refuse to be a corporate drone. And if I ever get management that stupid, I'd want to leave anyway, so let them sack me!

Ganga

zagfles said:

The problem is saving is often seen as denying yourself, and spending as enjoying yourself.

Like above, a lot of people say they enjoyed themselves much more when they were a student, or young. I'd agree. But I spent far less as a student than I spend now. I lived on maybe £3-4k a year, maybe equivalent of £8-10k now. And had a great time.

I used to go backpacking all round the world sleeping in dorms in often grotty hostels, they were the best holidays of my life. Far better than ones staying in luxury 5* hotels.  don't deny myself stuff. If I want to do something, I'll do it. But I won't spend more than I need to, under the illusion it'll make me happier. I went on 6 foreign holidays in the 12 months before lockdown, but I spent less than some people spend on a single holiday. We eat out a lot, but I prefer a £10 curry to lobster and caviar. We have no interest in designer clothes, handbags, flash cars etc so we don't buy them. 

The other thing is work. The idea that the only benefit people derive from working is their paypacket. I know people who've enjoyed their work, but retired just because they could afford to, or had reached retirement age, and then got bored and started doing voluntary work very similar to their paid job!

I've reached the stage where I can afford to retire, but instead I've reduced my hours, bought extra holiday, so I'm still working, because I enjoy it, I like the people, I want more time off (well once this current situation is over), so I've cut my hours and increased my holiday. Luckily I have a flexible employer who needs me!

But as I'm in a situation where I can afford to retire, there's no pressure on me at work. I avoid the boring stuff. I just don't do stuff I am supposed to do. I simply don't care if I get marked down on my appraisal, if I get disciplined, or even if I get sacked. But I know I won't be because they need me and they'd be stupid to get rid of me just because I refuse to be a corporate drone. And if I ever get management that stupid, I'd want to leave anyway, so let them sack me!

Point 1) I bet you only stayed in grotty hostels because that is all you could afford at the time.
Point 2) You must go on holiday for £250 

zagfles

Ganga said:

zagfles said:

The problem is saving is often seen as denying yourself, and spending as enjoying yourself.

Like above, a lot of people say they enjoyed themselves much more when they were a student, or young. I'd agree. But I spent far less as a student than I spend now. I lived on maybe £3-4k a year, maybe equivalent of £8-10k now. And had a great time.

I used to go backpacking all round the world sleeping in dorms in often grotty hostels, they were the best holidays of my life. Far better than ones staying in luxury 5* hotels.  don't deny myself stuff. If I want to do something, I'll do it. But I won't spend more than I need to, under the illusion it'll make me happier. I went on 6 foreign holidays in the 12 months before lockdown, but I spent less than some people spend on a single holiday. We eat out a lot, but I prefer a £10 curry to lobster and caviar. We have no interest in designer clothes, handbags, flash cars etc so we don't buy them. 

The other thing is work. The idea that the only benefit people derive from working is their paypacket. I know people who've enjoyed their work, but retired just because they could afford to, or had reached retirement age, and then got bored and started doing voluntary work very similar to their paid job!

I've reached the stage where I can afford to retire, but instead I've reduced my hours, bought extra holiday, so I'm still working, because I enjoy it, I like the people, I want more time off (well once this current situation is over), so I've cut my hours and increased my holiday. Luckily I have a flexible employer who needs me!

But as I'm in a situation where I can afford to retire, there's no pressure on me at work. I avoid the boring stuff. I just don't do stuff I am supposed to do. I simply don't care if I get marked down on my appraisal, if I get disciplined, or even if I get sacked. But I know I won't be because they need me and they'd be stupid to get rid of me just because I refuse to be a corporate drone. And if I ever get management that stupid, I'd want to leave anyway, so let them sack me!

Point 1) I bet you only stayed in grotty hostels because that is all you could afford at the time.
Point 2) You must go on holiday for £250 

1) Not really, grottyness just never bothered me much. When I was backbacking round Australia on my own, I did get sick of hostels and booked into a hotel for a couple of nights, it was the only time in the whole month+ holiday that I felt lonely and even temporarily depressed.

Just walk into the bar of any big hostel and look around you. Then walk into the bar of a luxury hotel and look around you. Where do you think people are having a better time, where do you think it's easier to meet friendly people with whom you can a drink and a laugh and discuss your travels... Even now, and definitely when travelling alone, I much prefer hostels to hotels. But I will have a private room these days, I don't do dorms any more!

2) I said "some people". There was a long thread on the travel board a few months ago with people whinging about their travel agent/tour operator not refunding the £14k or so they'd paid for their holiday! I spent about £9k on my 6 holidays.

Anonymous101

zagfles said:

The problem is saving is often seen as denying yourself, and spending as enjoying yourself.

I think this is the problem for much of the population. Some people seem to realise it’s not as they grow older, some people never realise it.

Rich1976

barnstar2077 said:

I second the retiring earlier if you can idea, but not the spend, spend, spend.

My mum passed away at 69 having only retired the year before.  She wasted so much money, it used to run through her fingers like water.  If she had been better with money and retired at 59 instead she would have had ten years of doing whatever she wanted, and her husband would now have ten years of retirement memories to look back on.

Personally I like being frugal, it makes me feel good knowing that I will be able to retire early and that I am not a weapon of massive consumption.  I keep my monthly expenses low so that I can splash out on things that I really value without it affecting my long term plans.  Time is the only true commodity in my opinion.  I exchange my time for money, and eventually I will exchange that money back for time.  One day I will decide what I do and when I do it.  I am not a number, I am a free man!

That is so true and I echo those comments 100%

Yellowvest23

I expected the "i dont spend or treat myself but happy " replies, since after all this is a money saving forum and the demographic would be that type.Lets be honest we all know they are kidding themselves and trying to justify their addiction of saving.

barnstar2077

Yellowvest23 said:

I expected the "i dont spend or treat myself but happy " replies, since after all this is a money saving forum and the demographic would be that type.Lets be honest we all know they are kidding themselves and trying to justify their addiction of saving.

To be fair, you seem to be pushing your own agenda of spend, spend, spend, so I guess it evens out.