Lamborghini, world cruise, annuity ... or something else?

mark_cycling00

You could probably haggle the price of a brand new Maserati down to £55,000

Most people assume they're much more expensive.

However, if you're frugal, filling up anything that does less than 50mpg will be stressful!

danco

Cruises can be fine. I've taken three, and enjoyed them all. I prefer small ships, even 500 feels big to me.

I've been caught out recently on a cruise, though. Was a good price (reduced for the last few remaining cabins). Going in a week's time, so of course I can't get money back if I cancel. And it's going to be EXTREMELY hot. I'll probably go but would have cancelled if I could get a refund. Pricing for cruises is very variable, and one can already book for several years ahead.

I've tended to go with organised holidays catering to my interests. Nowadays I still take a few weekends away but am not sure I want the full effect of a week or so looking at ancient sites.

br1anst0rm

Well, more than 20 responses so far, and it has been fascinating to read all the comments. The first thing is to say a huge thank you to all. The reactions have been thoughtful and helpful - and every one has been positive. I admit that I was a little worried that I might get cynical or disparaging feedback. It's a credit to the forum, and its members, that this has been such an interesting "conversation".

The encouragement to go out and spend has in its way been quite uplifting. Like others who have come from family backgrounds where money was very short and daily life a challenge, I have always been driven to save "for a rainy day" and still feel a twinge of guilt when spending on what seem to be extravagances. But - as the old saying has it - there are no pockets in a shroud, and you can't take it [money] with you when you go…. So thanks to those who suggested holidays, guitars, fast cars, and first class travel. I've noted the pros and cons of a Lambo from @Woodstok2000 and others: I might go for something a little less ostentatious when we do decide to "upgrade"!

I'm very grateful also to those, like @Cairnpapple and @Mrs_Z , who sensibly advised "future-proofing" our house - and/or moving - to be suitable as we get older. We're lucky still to be reasonably healthy, although showing signs of advancing years, and we have a house (and garden) well located for local facilities and without too many obstacles. So we rather hope that any modifications needed may not require major structural work!.

Several responses - including @friolento, and @Albermarle - offered wise advice about the need to organise our finances to ensure adequate provision if I go first and leave a widow… IHT may not be our problem once we're gone, but we'll look at possible ways to limit the taxman's take. @poseidon1 has previously been very helpful and once again has given some useful pointers.

And a special thanks to @luci for the posts which showed that our situation is not unique (coincidentally we also live in NE Scotland!), and for reassuring us that it might yet be worth searching again for a reliable IFA with the help of @dunstonh 's advice and the Unbiased website. We'll now get started on another round of financial planning. But as @Mrs_Z rightly said - it's a nice problem to have. We realise how fortunate we are.

Thanks again to all: I'll post an update in due course when we get a bit further down the track…

luci

https://forums.moneysavingexpert.com/discussion/comment/82036334#Comment_82036334

What a lovely post, thank you for the thanks.

I didn't mention in my previous post (War and Peace), but I also struggled to start spending. Not because I wanted to hoard it, but because it was totally alien to me. I felt uncomfortable, as I just wasn’t used to it and it was like doing something scary for the first time.

As soon as I questioned myself about when we were actually saving for, that made a huge difference. After the IFA saying we should start spending, we bought a new car within 2 weeks and it didn’t hurt. Then we went on a spending spree over the next 18 months with the home improvements and holidays. After all that was done, I’d run out of things to spend on, apart from holidays (5 cruises last year). Then I had an epiphany, so we’re now in the middle of getting our driveway replaced and the front garden done, including porcelain slabs.

If you want the name of the IFA we use, drop me a private message.

Keep us posted on how things pan out.

thegreenone

My late Mum was frugal all her life. I have to say she was a very good cook and we had wonderful meals and holidays to stay with friends in various parts of the UK. Very lucky there!

When she got to 88 and was struggling physically (brain/ memory better than mine sometimes!), I suggested she employ someone to go in each morning and help her shower, dress and get breakfast, an hour tops. She said "ooh no, I couldn't afford that". She was getting Attendance Allowance.

When Mum died, she had £48k in accessible cash. I cried.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82037189#Comment_82037189

My FIL ( mid/late 70's) wanted to replace his old and unreliable car, with a new one. Not a Lambo, but a cheap Dacia. My MIL would not agree and accused him of throwing money around etc.

I think at the time they had about £200K cash in the bank at the time, and it was still there when they both died.