[George Bieniaszek]

Don't save as much per month as I used to when I was working, but I do transfer funds from my checking account to savings every month. Old habits are hard to break. Never know when you need money for the unexpected big expense.

[mickey100]

Originally Posted by BarryRX

All my life I have been saving money towards my retirement. Now that I am retired, I have a certain income each month. What I should be doing is spending that monthly income, but I can't seem to break old habits and I try to save at least 15% of that income each month. I was just wondering if anyone else is still a "serial saver"?

I understand what you mean. We are in the same boat sort of. We don't consciously save, but we don't spend all our pension and/or social security either, and we haven't touched our savings. In fact my portfolio has gone up by about $140K since I retired 4 years ago, and I imagine my husband's has too. We travel extensively, and buy a few clothes, go out to eat once a week, but we tend to be frugal, a habit that you seem to have. We've never been the type to buy the most expensive house on the street; we don't drive fancy cars; we do most all maintenance around the house ourselves, and I guess it just has added up over the years. Its a difficult habit to break. I estimate my savings will outlive me, which I don't want, but its hard to change your personality to purchase material things, when its really not in your nature to do so. In fact, I find some people who have such a need for material excess to be shallow and pretentious, and I tend to avoid them.

[Villages PL]

As long as there's a possibility of living to 115+ I will be quite content to keep saving money, even though I think I may already have enough. No one can predict how much inflation there will be in our future. Luckily, I only need to spend a small fraction of my income to be happy.

I no longer need what I thought I would need to be happy. When I was young I thought I would need a big expensive house, expensive sports car, big expensive vacations, frequent steak dinners at expensive restaurants, etc.. But now that I can afford it, I don't want any of that. I'd rather have a large cushion of stock-equity and the feeling of security that comes with it. No matter what my needs might be in the future, I hope to be able to afford it and not be a burden on anyone else.

[2BNTV]

My viewpoint is to spend enough in that you don't deny yourself too much but save enough for a major expenditure. It's worked so far for me.

I will spend more once I'm retired on travel but I will adhere to the 4% rule for the mandatory withdrawal rate. That will suffice as my needs are fairly simple to satisfy.

I think all seniors want to leave something for their children so I will hopefully leave something of value other than memories.

[Pturner]

Been saving since I was a kid with a little Christmas Club account. Been saving my whole adult life. It'll be a hard habit to break. Never been a big spender. Never been a high roller.

Sign me...

Living in a material world
But not a material girl.

[sueandskip]

Originally Posted by Vinny

I have been spending most of my life. New cars every two years, latest tech toys, etc.. My father saved his whole life and had a heart attack 6 months after he retired that still limits him. My mother has Alzheimers at 65. A friend saved for extensive world travel with his wife after retirement and his wife's died a a month after retirement. He took me aside and told me to do it while I can because the future is uncertain. Rencently had a new TV friend get sick and die suddenly in the space of four days within a year of retiring. So many have told me that they regret wasting their youth by saving for their old age.

I live for today and so far tomorrow has taken care of itself. If I need more, I earn more. Always been able to make money to meet my lifestyle. I can die tomorrow with no regrets or unfinished business. My wife and I have not denied ourselves anything and we have had a great life as a result.

If your mother is only 65 you are really young ?

[sueandskip]

Originally Posted by Golfingnut

We find that we need less money as we age, so we vacation and buy when we feel up to it and not when we feel we can based on our financial portfolio. I would rather die broke than die wishing I had done this or that or bought this or that. Don't spend yourself into the poor house, but also NEVER DIE WITHOUT LIVING FIRST. Overspending is foolish, but Over saving is a sign of Paranoia.

[jimbo2012]

Yep, we're saving for our kids inheritance.

Luckily they don't need it, so we can play.

[Cantwaittoarrive]

As long as my investments continue to best inflation I have fun with it. If my investments stop beating inflation then I will start saving again. Right now my investments are growing faster than I can spend it.

[2 Oldcrabs]

I save every month so my wife can spend it the next month!

[mac9]

Back in the 60's, my father gave me $10/week allowance. I was required to save half and use the rest towards my expenses, lunch, records, etc. When I started working, I automatically saved half. After marrying and buying a house, I was appalled that we could no longer live on one salary and save the other. In due time, we reverted to living on one salary. Now we are retired and feel that we can afford to do anything we want to do. Yes, we still save a little in that we live on our SS and pensions. Our investments have gone untouched. After having lived a lifetime of saving for the future, it is difficult to think in other terms, but, slowly, we are learning that this is the future and it's time to reap the rewards of saving. We are totally debt free and play as often as we want. Believe me, we have no intention of leaving this world with much left.

[Down Sized]

Originally Posted by CaptJohn

That IS a tough one! From what I've read of older folks, most say they regret not doing things. When I was in Hawaii in the early 70's, I saw a lot of widows in wheelchairs who saved with their husbands to go there but their husbands didn't live long enough to make the trip. I've kept that rememberance when there were things I wanted to do.

We have an abundant of widows in T V with this same scenario.

[dotti105]

Vinny, I feel you have the right idea. When it all comes down to it, we will regret more the things we did not do, than the things we did!

[Ripcord13]

Originally Posted by shcisamax

It is in my genes...in fact, I have a double whammy. Old New England Yankee.

Same here, been saving since I had a paper route as a kid, worked part time while I was still in high school, invested in CD's when they paid double didget % rates. I still invest in growth stocks, never really negelected myself of much, always had the things I wanted but still being frugal. My outlook is go and earn the money and treat yourself right without being foolish and stay out of debt. No debt is a solid foundation.

Rip,

[inda50]

I think that part of the answer lies in " quality of life'' .