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You know we work hard, save. Many of my working years I would never think of buying lunch or eating out much.......cost to much. If I bring my own food to work I'll save. No car payments, bought with

Sounds to me that may be you need to just take brake off!.All your working like you have applied those brakes for many reasons, no its time not to be so hard on the brake. Enjoy your time, in whatever

why won't you invite all of us the forum posters here for a nice party in your favorite restaurant? we can help you spending and we'll get to know each other better. to make things easier at star

Good luck. It can be hard to change financial ways. 

 

Some of the cheapest skinflints I ever encountered were pilots who got wealthy buying real estate, more than flying airplanes. Criminal stingy with major personality problems like a guy who rented out multiple properties on Oahu but lived in his car off of 3 day old crew meals and pocketed food from free breakfast buffets. Not all grew up poor but it is a factor too.

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start off with good health insurance in a range of high tens of thousands and if you are going to live another 30 years be prepared for premiums in range 200k per year (that, if you are still healthy).

That would be my priority, if I had that much money.

Another long term investment, I would think, is setting up family, even with kids, so they will take care of you later on and not ending up at senior's home.

Travel is fine, even international one, but the best done in companionship, with family

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16 minutes ago, internationalism said:

start off with good health insurance

And if you are extending an old OA Visa...make sure you budget for 2 policies...one for real protection and one for your IO visit

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10 hours ago, EVENKEEL said:

OK so now after retiring I'm thinking <deleted> I've got to start  spending. It's going to be a new world for me going to expensive restaurants, buying expensive clothes. I used to think about leaving a nice inheritance to my kids, but now I'm thinking you know my son is doing extremely well, my daughter still young might marry a smuck, and he's damn sure not spending or enjoying my money. 

 

Time to start ringing bells.

Sounds to me like you're a prime candidate for a SPIA (Single Premium Immediate Annuity) 

 

Dont want to leave anything to family? Want to spend the most amount of money and leave nothing when you die? Put it all in an Annuity(s) and let a corporation take all the risk and you get more out of your money per year than you would with a normal retirement SWR of 4%. Payments continue until death, then stop, with nothing left over. 

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7 minutes ago, 1FinickyOne said:

Has anybody tried the 4% approach? 

Thats typically what most people do when they have a 30 year retirement horizon. If youre already older (like 70) you might be able to go higher, if your portfolio has done well (which anyone invested in the last 10 years would no doubt have done very, very well)

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9 hours ago, EVENKEEL said:

Flash cars and huge houses don't float my boat. Saw an old foreigner today stepping into a nice BMW SUV, probably cost more than my house but I have zero envy. So having money to spend is all relative. I'm sure his cash flow is on another level than mine. I'm thinking along the lines of spending money on international travel.

And quarantine, and COE, and Covid tests, and Insurance.......oh yes, fly First Class!    LOL

You do know that there is a special lane for over 70s at Swampy.

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No, it isn't time to go on a consumption binge.

 

With all the damage our generation has done to the planet and the environment, if anything, we all ought to be making an effort to consume less as an act of kindness and atonement towards future generations.

 

Just a thought.

 

 

 

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2 minutes ago, tonray said:

You intend to save all your 'carbon' credits for the final burning at the local temple ?

What many think of as 'deferred consumption' is in reality 'deferred over-consumption.' It's over-consumption because it's environmentally unsustainable.

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