Hey, retirees: Go and spend some money

[nicet4]

I'm certainly not an expert at retirement but my thinking is as I get older I'll actually spend and need less money not more.

One place I can see it already is the food budget. We have $100 set aside each week for food plus another $150 a week set aside for dining out and we're not coming anywhere close to spending all of it. Why a budget of $150 a week for eating out you ask? When Grandpa takes the kids and grandkids out to eat Grandpa always picks up the full bill for everyone. But even so we're not even getting close to our budget.

[oldsoldier1976]

Originally Posted by nicet4

I'm certainly not an expert at retirement but my thinking is as I get older I'll actually spend and need less money not more.

One place I can see it already is the food budget. We have $100 set aside each week for food plus another $150 a week set aside for dining out and we're not coming anywhere close to spending all of it. Why a budget of $150 a week for eating out you ask? When Grandpa takes the kids and grandkids out to eat Grandpa always picks up the full bill for everyone. But even so we're not even getting close to our budget.

Isn't that awesome. Here you are in the second half (retirement) enjoying kids and grandkids and you can afford to pick up the tab. Even more I am sure.


This is what I find most amazing. All of these years we go through life making difficult choices. Do we do or buy this or that? Sometimes we would sometimes we wouldn't. When we replace an automobile as we drive by the lots and see the BMW, or the Mercedes, but instead choose the Subaru Outback or the Dodge Grand Caravan. We weigh the choice in front of us in order to get the biggest bang for the buck because we put those other dollars into the second half of the game. Now we just have to live long enough to enjoy it.

Thanks for sharing nicet4.

[NewbieHere]

I'm trying but not on a big scale. However my husband wants to upgrade to a bigger and more luxurious home, he likes the view and the fact it's a single story. But my retirement savings will be smaller for sure.

[jlawrence01]

Originally Posted by nicet4

I'm certainly not an expert at retirement but my thinking is as I get older I'll actually spend and need less money not more.

One place I can see it already is the food budget. We have $100 set aside each week for food plus another $150 a week set aside for dining out and we're not coming anywhere close to spending all of it. Why a budget of $150 a week for eating out you ask? When Grandpa takes the kids and grandkids out to eat Grandpa always picks up the full bill for everyone. But even so we're not even getting close to our budget.

How do you really know? I am working with a couple who will soon be filing bankruptcy. Both were healthy three years ago but the husband has experienced multiple strokes requiring more nursing home stays than Medicare allows.

Don't get me wrong, I am not leading the ascetic life of a monk but I have no intention of throwing away money of new cars and accumulating still more stuff just because I can afford it.

[LilyMae521]

Originally Posted by jlawrence01

How do you really know? I am working with a couple who will soon be filing bankruptcy. Both were healthy three years ago but the husband has experienced multiple strokes requiring more nursing home stays than Medicare allows.

Don't get me wrong, I am not leading the ascetic life of a monk but I have no intention of throwing away money of new cars and accumulating still more stuff just because I can afford it.

This.