I am in a similar situation with similar savings and state pension, that will terminate after my death. I am a few years younger than the OP and I am not holding back, unless for totally unneccesary spendings, like visiting fancy restaurants and bars. When you are dead, it's too late to start enjoying life. Years ago I helped my wife open her own small business, which will be able to feed her well after my death, without needing to touch any savings.