Stop Saving, Start Spending

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I took a screenshot then removed it...

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wisenior said:
A general rule of thumb says it's safe to stop saving and start spending once you are debt-free,
and your retirement income from Social Security, pension, retirement accounts, etc. can cover your expenses and inflation.
Of course, this approach only works if you don't go overboard with your spending.

Piss it away,
the ones who inherit it when you're gone sure will.

Enjoy yourself.
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Who has enough to "piss it away"? Because I don't have all that wealth stashed away in the first place.
 
Blaze Duskdreamer said:
I wish my health allowed it. I do spend freely and still have hundreds left over every month but that's becasue spending freely herein means a few dollars on my grandma games (i.e., pic packs in my jigsaw app; I am addicted), streaming some movies or if I see a nice shirt or knick knack or something and junk I shouldn't buy at the convenience store. (GD you, 3 Musketeers.)

My health is the pits. I raised a daughter alone without welfare or child support. I guess I'm used to living pay to pay. I'm quite shocked that I actually have a few thousand in savings.

Assisted living aka nursing homes is simply unaffordable. I can't even consider it no matter how bad off I get and frankly, I'd rather die. If I'm to be shipped off to one of them to be abused and neglected while kept alive by unnatural means so the nursing home can swipe both my SS and my pension, just put me out of my misery. Nope. I'm not willingly going to one no matter what my health is. If I go senile, they'll have to jump the legal hoops to commit me to old people's prison and I hope I die within in a month of being there.

Add to my fear of doctors, the fact that a very dear friend of mine was in one following a stroke and well I'm not sharing her experience but let's just say it was not pleasant. I'm glad she's out and recovering, back home with her six cats. She's better off with the cats taking care of her than the a-holes in nursing homes.

Another friend of mine, young fellow, worked at a nursing home during college (just a few years ago) and he continually says emphatically to me, don't go into one no matter what. He was an orderly and always fighting with the nurses because he was caring and attentive and they didn't like his taking the time to make patients comfortable and chat with them so they didn't feel lonely as he wheeled them somewhere or his duties brought him into their room and also because he spoke up and objected when he saw them yelling at patients, etc.

Nope. Give me liberty or give me death. No nursing home. No thank you. I'd rather die at home.

If a little is left behind for my daughter and grandson, swell. If not, not. If I see something I want, want to buy it and have the money, I'm going to.
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Yep nursing homes equal bad care.
 
I've been debt free for quite a while now and back in the workforce on a casual basis for the last three years. Although I'm not rich I'm financially secure and more asset rich but cash poor. It suits me to keep working especially as my work gives a sense of purpose that I didn't always get at work.
I ride to work and work to ride, I couldn't have the bikes I have if I didn't have an income. I have arthritic hands so I pay for 95% of my bike maintenance.
 
Rakaia said:
Ah the venerable Sportster that continued to evolve for 60 years. I recently bought a 2015 883 as a daily rider. It has an alarm which is ideal for a commuter parked outside work.
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Got involved with racing Sportsters.... Help with taking the production 1000 CC production record at Bonneville a few years ago...
Also helped build a 1000 CC Ironhead that set a standing mile record at 142 MPH. Fun times.
 
I dunno, i get the impression that many here think that when I say "piss it away",
I'm talking about "the pile", your savings, investments, etc.
Never touch that.

Ever.

All I'm saying is whatever amount you were putting away every pay period,
stop it.

There's plenty there.

Start spending the amount you were putting away on top of "the pile".
 
wisenior said:
I dunno, i get the impression that many here think that when I say "piss it away",
I'm talking about "the pile", your savings, investments, etc.
Never touch that.

Ever.

All I'm saying is whatever amount you were putting away every pay period,
stop it.

There's plenty there.

Start spending the amount you were putting away on top of "the pile".
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I get it.

At our age, it’s probably best to switch gears and focus on the present.

The truth is that we all seem to find the time and the money to do the things that are important to us.

In my case spending additional money won’t do much to improve the quality of my life.
 
wisenior said:
I dunno, i get the impression that many here think that when I say "piss it away",
I'm talking about "the pile", your savings, investments, etc.
Never touch that.

Ever.

All I'm saying is whatever amount you were putting away every pay period,
stop it.

There's plenty there.

Start spending the amount you were putting away on top of "the pile".
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SO asked me once how much enough is. We got there. He asked me again. I asked for twice that much.
Everyone has his or her idea of spending and what brings pleasure. For some spending money is not part of it. Please do not try to force me to travel, go shopping, hang around with giggling old geese. SO has his play dates which cost as much as the rest of our annual needs. Does that make you happy? Well, he enjoys them and we are not joined at the hip.
 
I've been saving and investing more money the last few years than I ever had in my life. I'm spending less, but I still buy things that I would not have bought when I was younger. I might buy something for no other reason than I want it. I don't care if I die with more money than I need. But it's probably better then dying destitute.

As for my heirs, half my estate goes to my sister, and I have no reason to think it will be used the way I think it should be used. The other half will go do the organization that means more to me than any other charity. My biggest fear is that someone will try to monkey with my will and grab the whole thing. I've seen this happen in other situations. But I'll only worry about that while I'm alive.
 
JustDave said:
I've been saving and investing more money the last few years than I ever had in my life. I'm spending less, but I still buy things that I would not have bought when I was younger. I might buy something for no other reason than I want it. I don't care if I die with more money than I need. But it's probably better then dying destitute.

As for my heirs, half my estate goes to my sister, and I have no reason to think it will be used the way I think it should be used. The other half will go do the organization that means more to me than any other charity. My biggest fear is that someone will try to monkey with my will and grab the whole thing. I've seen this happen in other situations. But I'll only worry about that while I'm alive.
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Have you considered setting up a trust?
 
Twostep said:
Have you considered setting up a trust?
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I've thought about it, but I don't know what that involves. I'll have to look that up. If it solves the worry about whether my will is handled as I have directed, then it would make my life more content now, and that is something worth spending money on. I'm not into the accumulation of more stuff. I've got plenty of stuff, and travel no long holds the allure it once did.

This tread is quite useful to me, even if I'm not responding as the thread suggests I should.
 
Twostep said:
That depends on patient and home!
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In other words, roll of the dice as far as the home is concerned because there's only so much you can do to check it out.

Blaming it on the patient is pure, flat out victim blaming. People sick and in pain so debilitated that they've lost their freedom and are now in old person jail are grouchy? You don't say. If you don't have the patience to deal with that, you should not be working in a job taking care of them.

Strange how my young friend didn't have that problem with the patients when he took the time to treat them like human beings instead of things. Strange how his problem when he worked as an orderly in one with a stellar rep that his problems were with inattentive and verbally abusive nurses. But I guess if the patients are unhappy when a nurse yells at them, that's their fault. They should just smile and be happy.
 
wisenior said:
Enjoy yourself.
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My lady is the frugal one
to a fault
like peeling the two layers of TP to make two rolls

I'm the budgeter
Working in comfort and fun things into expenses

The main fun thing has been one of investment.....
not stocks or anything relative
But flipping old houses, or buying bare land...building cabins

It's been great fun

Our life now is one of ease

No regrets
 
JustDave said:
I've thought about it, but I don't know what that involves. I'll have to look that up. If it solves the worry about whether my will is handled as I have directed, then it would make my life more content now, and that is something worth spending money on. I'm not into the accumulation of more stuff. I've got plenty of stuff, and travel no long holds the allure it once did.

This tread is quite useful to me, even if I'm not responding as the thread suggests I should.
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It took some legwork and a good attorney for us. And you are correct - it makes me feel better.
 
My mother did a trust and it worked out very well. No arguing, etc between us four girls when she died. She did forget to put in it where she wanted to be buried, however. Of course we four got into it over just that a bit, but even then the trustee got to decide even that small issue and that worked out fine.

My dh and I have five kids between us, (him one, me four). We did a trust for sure, because with five kids left behind....and new marriage (ten years)?

The trust will keep it distributed the way we each intend, while saving whichever of us remains behind, and less feathers ruffled in the process.

Money WELL spent.
 

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