Isn't it time to spend the savings?

[BritManToo]

55 minutes ago, DaLa said:

No central heating. Parents did provide a makeshift ice scraper for the inside bedroom windows thoughtfully.

I still don't have central heating!

[1FinickyOne]

2 hours ago, BritManToo said:

I've always let the price dictate my choice.

I'm not broke, just tight as .................

which is why you are not broke..

[DaLa]

22 minutes ago, BritManToo said:

I still don't have central heating!

Better make plans to consider installation.  Cold season about to descend on CM and temperatures dropping to 19 degrees. Or you can always resort to the thermals you shipped from the UK.

[tonray]

1 hour ago, DaLa said:

Which particular generation are we referring to?  My excess indulgences today are making up for the following:

 

Born when food rationing from WWII was still in place.

Public transport finished at 10 PM so would walk 4 miles home.

Walked 1 mile to school back and forth twice a day for 11 years in all weathers.

No phone ( LANDLINE !) until I was 25.

1 Television between 9 of us.

First (and only 1) personal television at 28.

No central heating. Parents did provide a makeshift ice scraper for the inside bedroom windows thoughtfully.

Ate in a restaurant for the  first time at 18 years of age (usually 3 times a year).

First plane journey at 23 and then only 1 trip per year.

No walkman/laptop/mobile/trainers or clothes with fancy labels.

 

Some guys in my youth were so poor they couldn't afford shoes, they were the lucky ones, I couldn't afford feet.

 

Look out planet, I'm now about to unleash untold damage on you.

Exactly,  I remember people telling me in the 2000 financial crash that we were paying for the excesses of the 90s. The only excesses I recall were working far too many hours for too little pay. 

[OneMoreFarang]

14 hours ago, EVENKEEL said:

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 cash what I could afford. Maxed out my retirement fund, stayed working at a Co. because they had a pension.

Did OK considering no college degree and no real plan. Brings to mind the movie "Cool Hand Luke" where he says "I never planned a thing in my life"

 

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.

I did mostly the opposite. Not too much work, lots of good lunches and coffee breaks, time for the girls, etc.

Summary: If I die today and I have a minute to think about my life then I can say to myself: I enjoyed it and had a good time.

And just in case I will live long enough until the moment when there is no money anymore then I can still remember all those good times. 

[Asquith Production]

Its all about being moderate with your spending. Some people will buy a Merc or BMW as sum  badge of honor but any car will take you from A to B in comfort. Its like that with any purchase. Just dont buy stuff for the sake of it. Personally I have gone to minimalist ownership of stuff but of good quality..

[rhodie]

2 hours ago, DaLa said:

Which particular generation are we referring to?  My excess indulgences today are making up for the following:

 

Born when food rationing from WWII was still in place.

Public transport finished at 10 PM so would walk 4 miles home.

Walked 1 mile to school back and forth twice a day for 11 years in all weathers.

No phone ( LANDLINE !) until I was 25.

1 Television between 9 of us.

First (and only 1) personal television at 28.

No central heating. Parents did provide a makeshift ice scraper for the inside bedroom windows thoughtfully.

Ate in a restaurant for the  first time at 18 years of age (usually 3 times a year).

First plane journey at 23 and then only 1 trip per year.

No walkman/laptop/mobile/trainers or clothes with fancy labels.

 

Some guys in my youth were so poor they couldn't afford shoes, they were the lucky ones, I couldn't afford feet.

 

Look out planet, I'm now about to unleash untold damage on you.

Pure luxury. When I was born........ ???? 

 

 

Edited October 15, 2021 by rhodie

[The Hammer2021]

A shroud has no pockets!

[sirineou]

13 hours ago, EVENKEEL said:

It's hard not to feather the brake. I have family members who were at polar opposites, some never saved a penny and others saved and never used their money. I think for some saving becomes a way of life and they can't change. Me, well I'm trying to change.

I am afraid you'll find out that after a lifetime of being one way, It's hard if not impossible to change.

[The Hammer2021]

1 hour ago, DaLa said:

Better make plans to consider installation.  Cold season about to descend on CM and temperatures dropping to 19 degrees. Or you can always resort to the thermals you shipped from the UK.

Rising to 19!

[Bruno123]

4 hours ago, 1FinickyOne said:

interesting subject...

 

it is difficult to change from being a lifelong saver/investor to spender... 

 

I can splash down on a nice car [then keep it until it does 10 years later] or home but then be cheap w/myself on other things... I am not into material things/clothes etc... so, I can have trouble finding things to spend on... I give it away in small denominations to lots of unsuspecting people.. 

 

Has anybody tried the 4% approach? 

 

There are a few of us out there. Been doing the same ever since I had my first job as a teenager.

If I don't use it that day; I start giving it away to people who may need it more than I. It fills the heart to see someone get up and immediately begin to eat the meal that you brought for them. 

[lanng khao]

15 hours ago, EVENKEEL said:

Stand by for date and time. 

A fool and his money,, can throw one hell of a party..

[1FinickyOne]

1 hour ago, tonray said:

Exactly,  I remember people telling me in the 2000 financial crash that we were paying for the excesses of the 90s. The only excesses I recall were working far too many hours for too little pay. 

I don't remember any excesses back then, not for me... a period of excessive workaholism... as I had my own business that had a good period... I lived in a lovely old camp in the woods and most all my employees drove nicer cars then I did... but i came out ahead in the end... 

[mavi]

I think you are just dreaming to be able to spend, but you won't do it.

You have self brainwashed yourself over the years, spending nothing, thinking about the future.

There is now way that will spend your saving, especially because as most smart people you have kids and want to give them money.

I am so proud to never have kids, because my millions are mine and I keep spending them unlike idiots who saved all their life to die with their money.

Anyway just be honest, would you spend 3 MB at least on a Benz ? Clearly not, or you lie to yourself...

 

[EVENKEEL]

4 hours ago, KannikaP said:

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.

See flying first class is where I draw the line, forking ridiculous prices. Barely make the 60's lane but thanks. 

[EVENKEEL]

4 hours ago, 4MyEgo said:

Wow, congratulations on your retirement.

 

The way I see it is that you work so hard for so long to try and get ahead in life, then when you cash in, that money can go in no time.

 

I retired 6 years ago at age 55 and the first thing I said to myself after selling my place in the old country is that I will need to do a monthly budget, once I have established that budget, then I will need to make that monthly income to pay for my budget, which has been 70,000 baht per month.

 

To put you in the picture, just because I made all that money from the sale, it doesn't mean I can go out and spend it, it has to last, that said, I have enough on that monthly budget of 70,000 baht to last me till I am 101, so I don't really need to do anything, just draw down, but why, you see I prefer to use that money to make money to pay for my monthly budget which includes overseas travel, domestic holidays, staying at a nice hotel occasionally and buying the things that I like to spoil myself with every now and again.

 

I could let loose, but hey, I have my big house which was paid for and built just before I retired so the sale of my house didn't pay for it, it was saved money, I also had enough for a new car and furniture, suffice to I also have the same amount of money that came from the proceeds of selling of my house 6 years ago, so I have lived here for free so to speak.

 

Not here to boast, but spending your life savings is easy, investing it and living a good life is just as easy. One just has to think outside the square because there would be nothing worse for me to wake up one day and say, $hit, what am I going to eat today as my budget is about 200 baht, excluding what I have allowing for my drinks.

 

Enjoy it, make it grow, but continue to live within your means so that it lasts and if there is anything left, sure the kids will get it, that said, I want my kids to get what will remain because I don't want them to bust their guts like I did, although I do want them to work to earn, maybe in a business of their own as opposed to working for the man.

 

My kid is doing well, better than me when working. That's just it I've realized I've got way more than I can spend even if I don't sell my 3 homes in the USA. I have a kid in Thailand and I'll take her and show her the world.

[RafPinto]

1 minute ago, EVENKEEL said:

My kid is doing well, better than me when working. That's just it I've realized I've got way more than I can spend even if I don't sell my 3 homes in the USA. I have a kid in Thailand and I'll take her and show her the world.

In case you want to adopt of future heir, please give me a call.

I am on the market and looking for a warm home.

[IAMHERE]

OP, it may be harder to be a spendthrift than you imagine. It was self denial and an entire way of life to save rather than spend thoughtlessly. Gonna be a bit difficult to alter your thought process after all those years.

[EVENKEEL]

1 hour ago, OneMoreFarang said:

I did mostly the opposite. Not too much work, lots of good lunches and coffee breaks, time for the girls, etc.

Summary: If I die today and I have a minute to think about my life then I can say to myself: I enjoyed it and had a good time.

And just in case I will live long enough until the moment when there is no money anymore then I can still remember all those good times. 

And you know I have a friend in US such as you, always getting me to cut loose. We spent weekends together with the kids doing simple fun things. He at age 64 can't even think about retirement.

[Skeptic7]

Go for it! It's yours...You earned it. Time to enjoy it. Life is short (sometimes much shorter than most can imagine) and it's a one-and-done. Make the most of it. ????

[KannikaP]

I have two sons working as musicians in Dubai, but having a tough time due to lockdown. 

I am going to give them their inheritance before I kick the bucket so I will see my dosh going to a good use.

 

Maybe I should tell them it is a loan!  LOL

Edited October 15, 2021 by KannikaP

[4MyEgo]

23 minutes ago, EVENKEEL said:

My kid is doing well, better than me when working. That's just it I've realized I've got way more than I can spend even if I don't sell my 3 homes in the USA. I have a kid in Thailand and I'll take her and show her the world.

If you have that much, spoil yourself rotten, but don't forget to give the kids a leg up with a deposit on a property or something like that where they won't pi$$ it up against the wall.

[allanos]

You can't take it with you, or, as someone posted earlier, a shroud has no pockets.

 

I have always thought that one needs to strive for a work/life balance. The time for enjoyment is when you are young; one can never recover lost years.  They are like virginity; once it is gone, it cannot be regained!

 

I came from a poor, working-class background, and have done my best to improve myself and

my status in life ever since, but never to the detriment of gaining some of life's experiences.

 

Along the way, great women, great cars, great meals, lots of travel, I have been luckier than most!

 

I am now in the Autumn of my life. Looking back, I've had wonderful times and some not so good times, but through it all have tried to remain sharp, building a few (productive) assets which are helping me get through the remainder of my time on this mortal coil.

 

It would not suit me  to be looking back and saying to myself, "I am so pleased I forewent all of life's pleasures and gave up the best years of my life in order to have savings when I am 60+ and then I can start living!"

[Tropposurfer]

16 hours ago, DrJack54 said:

If that floats your boat then that's sad.

Like some I got a kick out of huge houses and flash cars etc in mid life, however you quickly grow out of that.

Says you ! 

[DrJack54]

3 minutes ago, Tropposurfer said:

Says you ! 

Forums are for individuals to post an opinion. Ones man's trash is another's treasure.

Post your opinion. Doubt I would bother with a reply. 

[lanng khao]

25 minutes ago, allanos said:

You can't take it with you, or, as someone posted earlier, a shroud has no pockets.

 

I have always thought that one needs to strive for a work/life balance. The time for enjoyment is when you are young; one can never recover lost years.  They are like virginity; once it is gone, it cannot be regained!

 

I came from a poor, working-class background, and have done my best to improve myself and

my status in life ever since, but never to the detriment of gaining some of life's experiences.

 

Along the way, great women, great cars, great meals, lots of travel, I have been luckier than most!

 

I am now in the Autumn of my life. Looking back, I've had wonderful times and some not so good times, but through it all have tried to remain sharp, building a few (productive) assets which are helping me get through the remainder of my time on this mortal coil.

 

It would not suit me  to be looking back and saying to myself, "I am so pleased I forewent all of life's pleasures and gave up the best years of my life in order to have savings when I am 60+ and then I can start living!"

No good being the richest man in the graveyard.

[BritManToo]

I can't even manage to spend my pension.

Let alone my savings.

[khunPer]

I'm still saving up, so I one day have enough to spend...????

[Will B Good]

All in the timing I guess......you don't want to run out of money and then find you are still fit as a fiddle and will last another 20 years!!!

[OneMoreFarang]

1 hour ago, EVENKEEL said:

And you know I have a friend in US such as you, always getting me to cut loose. We spent weekends together with the kids doing simple fun things. He at age 64 can't even think about retirement.

Kids cost a lot of money. That's one reason why I have no kids.

 

And about retirement: Sure, it's nice to retire and then have money. But if the alternatives are working hard and saving a lot of money and then retiring OR working not so hard and having fun and not retiring then personally I prefer option 2 - at least in my job which I like.

 

And lets not forget that there are many people who work hard and dream about retirement and then they die early or are sick and can't enjoy the retirement anymore.

 

Carpe diem!