Has anyone ever regretted saving too much money and not enjoying life?

[~bs]

Continues saving is tiring, you have to constantly think about money and you can become so focused on saving pennies and completely lose the enjoyment of spending money (even the enjoyment of buying nice things for yourself and others). It does feel good sometimes. Has anyone ever said to themselves "screw the saving attitude, I am here to live and enjoy" How do you manage enjoyment and constant pressure to save more and more?

In my opinion, it's a balance. Same thing with working and non-productive time. In my industry, it's not unusual for people to work 60, 70, 80 hours a week. It's true that you will be compensated a decent amount for your effort, but at some point, you need to ask if it's worth it.

I'm relatively young, so don't have the advantage of having hindsight, but I imagine trips and activities are generally better when you have the advantages of youth and health on your side rather than waiting until after full retirement and beyond.

I spend on things that I find worth it, and avoid spending on things that I don't. For example, I don't really buy boxers and undergarments unless the ones I have are really worn out (what's the point). Even clothes in general, if I still have decent stuff, I don't really see the need to accumulate more outer clothes. My 40" HDTV is 10 years old, it still works, so what's the point in changing it, it's good enough? I don't really see much need to replace anything electronic unless what I have breaks. But when it does, I'll opt for higher end rather than lower.

[Drake3287]

I think I've commented on this kind of topic before. I'm a fairly new retiree who has a nice defined retirement plan (with COLA) that basically pays me the same amount as when I was working. I've also been a huge saver all my life and now have about a million along with a nice house that's almost paid off.

Although I certainly "enjoy life" and live well, including traveling but I have a hard time learning to spend all the money I've saved over the years. It's hard to live a certain life style all your life and all of a sudden change. I still save an extra couple of thousand each month for no real purpose.

I don't need a new or better house, I already live in a sought after area and I have all the toys I need or want. I certainly don't regret saving to much but I think it's hard for lots of people like myself to live at a higher standard then what there use to. If I ever won the lottery I'd make a terrible millionaire!

It's funny, I have several friends that I started working with 30 years ago (and at the same basic salary) and most of them are nearly broke or at least live retirement check to retirement check. For anyone young reading this, start saving for the future, it'll be here before you know it.

[Nutria]

Although I certainly "enjoy life" and live well, including traveling but I have a hard time learning to spend all the money I've saved over the years.

Nothing's stopping you from taking a two year around the world cruise, helping your children or grandchildren with a crisis.

It's hard to live a certain life style all your life and all of a sudden change. I still save an extra couple of thousand each month for no real purpose.

Security. What if the company paying your DB pension goes bankrupt, or need to go into an expensive nursing home?

It's funny, I have several friends that I started working with 30 years ago (and at the same basic salary) and most of them are nearly broke or at least live retirement check to retirement check. For anyone young reading this, start saving for the future, it'll be here before you know it.

They can't go on that two year around the world cruise or help their children and grandchildren, and would be well and truly hosed if the pension company went bankrupt or had to go into an expensive nursing home.

[LivingAlmostLarge]

Maybe like drake i find it difficult to understand why my mom keeps saving when she's retired. Um isn't it time to spend what you have? She's appalled at the thought people could spend their entire SS, pensions, etc every month. Sigh. She'll die way to rich

[Nutria]

Maybe like drake i find it difficult to understand why my mom keeps saving when she's retired. Um isn't it time to spend what you have? She's appalled at the thought people could spend their entire SS, pensions, etc every month. Sigh. She'll die way to rich

Is she happy? Or, at least, content?

[Drake3287]

Luckily I'm a CalPERS retirement member, not much chance of them going bankrupt thank goodness. I agree with not wanting to die with all my money still sitting there though!

I retired a bit younger then most people so I guess having many more years ahead of me (hopefully) makes me think a little differently.

[Nutria]

Luckily I'm a CalPERS retirement member, not much chance of them going bankrupt thank goodness.

I wouldn't be too sure about that... http://www.city-journal.org/html/pen...nia-13528.html

[Drake3287]

It's still the strongest and most solvent retirement system in the US though, either private or governmental. I can see new/younger CalPERS members having problems years down the road but at this point anyone in my age group will most likely be fine.

New CalPERS members don't have nearly the same benefits that I currently have. It'll only get worse as time goes on and the plans get watered down.

[97guns]

it wasnt until my assets turned 1mil that i started having deep thoughts about who i would leave to and share my good fortunes with. hitting that goal that i never dreamt of made me realize that i dont need to save anymore and its changed my financial lifestyle a little, spending with little thought and buying things i would not have bought before

[sv2007]

Continues saving is tiring, you have to constantly think about money and you can become so focused on saving pennies and completely lose the enjoyment of spending money (even the enjoyment of buying nice things for yourself and others). It does feel good sometimes. Has anyone ever said to themselves "screw the saving attitude, I am here to live and enjoy" How do you manage enjoyment and constant pressure to save more and more?

I think sometimes people fall into the trap of penny wise but pound foolish. The goal of saving is for better life, current and future. If the amount of saving is so severe that is hampers your current life, then you may be saving too much for your income level. Because such a condition is contrary to your saving goal.