midareff wrote: ↑
I would not say cheap.. well, maybe just a little but mostly best bang for the buck frugal type of guy (couple now) with a modest life style and a high percentage of earnings saved throughout the 46 years I worked. Of course, much more savings in the later years when pay and employment stature had grown, but always very cautious of expenses. . . .
Here's my take - sounds like you're still hung up on the smaller expenses that - when you were younger with a smaller savings - would have made a real difference in your budget, your life, your portfolio, and your retirement.
But that's then and now is now.
midareff wrote:Coming up on 8 years retired and thank you dear Uncle Jack. State pension (well funded state) and SS can pay all the monthly bills. Portfolio at VPW withdrawal rate funds travel and luxuries. I'm able to (psychologically) to write the travel check, got over the car life cycle thing 2 years ago but things like a new suit, a new phone after 4 models and such are still a real problem pulling the trigger when they are easily afforded.
Yes, still hung up on the smaller purchases (for less than $1,000 or $2,000) which for some reason still eat away on your frugality nature, but look, you've been able to ditch that frugality hang-up for what you've learned are wonderful, well-earned, now or never purchases.
midareff wrote:Dealing with the fruits of labor has been a bit of an issue for me since the high savings rate days have been gone and frankly, with the bull, decumulation isn't decumulating. Do any of you have problems pulling the trigger despite being well able (not for frivolous items, high end jewelry and such) and how have you handled the issue?
Here's an idea -
Look at your life today and ask whether these things would make your life more comfortable and enjoyable.
If yes, then do it or buy it. You can afford it. You cannot afford to wait or deny yourself.
"One day you turn around and it's summer
Next day you turn around and it's fall
And the springs and the winters of a lifetime
Whatever happened to them all?"
(-- Bob Dylan, "September of My Years")
You know yourself well enough to know that what will make your life more comfortable and enjoyable is not going to be some outrageous extravagance or some ridiculous purchase that would be unaffordable. Everything for you will be affordable.
Tell yourself to just get over that frugality thing from your youth, the old days, and just do it or buy it and enjoy it now
Easier said than done, but think - how do you psychologically justify spending plenty of money on your fabulous cruises all over the world that have brought you and your wife such pleasure and fun? Then perhaps transpose that rationale to the doing or buying of smaller enjoyable items that are getting hung-up on that old frugality thing.
Raybo already said this up-thread
Raybo wrote: ↑
I'm like you.
I have decided that anything below $1,000 is a spend on impulse amount. Since I don't have many impulses to buy, it works for me. Things above that amount, require some thinking and/or agreement with my wife (who has her own spending calculus