How to transition to spending more money

[Anonymous]

What if you just didn’t spend it? Would that be so bad? How much frivolous sht do you need? What a stupid brag thread.

[Anonymous]

Anonymous wrote:What if you just didn’t spend it? Would that be so bad? How much frivolous sht do you need? What a stupid brag thread.

It's a legit question. I'm in a similar position. After 25 years of working hard and being frugal, money is piling up faster in savings and investments than I can spend. I now save more annually for retirement than I spend to live right now. And I'm still 20 years from retirement. I could buy a fancier house but don't really need to, same with cars. We like our travel style and don't see utility in fancier hotels. We already spend what we want on food and clothing. So I really don't know how to "upgrade" in a meaningful sense. Which feels weird when I see the paychecks and account figures.

[Anonymous]

Give the annual tax free max to children and grandchildren, and fund a donor advised charitable fund.

[Anonymous]

Anonymous wrote:Give the annual tax free max to children and grandchildren, and fund a donor advised charitable fund.

I'm leery of charities. So much of the donations go into overhead and salaries of the administrators. And many are too politicized for my taste. Even the nature ones. I know people who've donated generously and now feel burnt by it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Give the annual tax free max to children and grandchildren, and fund a donor advised charitable fund.

I'm leery of charities. So much of the donations go into overhead and salaries of the administrators. And many are too politicized for my taste. Even the nature ones. I know people who've donated generously and now feel burnt by it.

it just takes a little investigation to see where the money goes. It’s fairly easy to figure out which charity has the programs you want to support, and yes some go to overhead, but that is the cost of having the programs. You think people should work for free?

[Anonymous]

We fly business class for international flights.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Give the annual tax free max to children and grandchildren, and fund a donor advised charitable fund.

I'm leery of charities. So much of the donations go into overhead and salaries of the administrators. And many are too politicized for my taste. Even the nature ones. I know people who've donated generously and now feel burnt by it.

The easiest way to have impact is to choose small, local charities. Pick something that is meaningful to you. The smaller ones tend to have shoestring budgets and is much more reliant on volunteers, so even small donations have substantial impact.

[Anonymous]

I gift the tax free $19,000 to my niece and nephews each year.

[Anonymous]

This seems like such a bizarre question, when even the most basic definition of "What would improve YOUR lives" is incredibly subjective and situation-dependent. Who knows better than you what that even means? You just want other people's ideas on what improved their lives?

[Anonymous]

Anonymous wrote:What if you just didn’t spend it? Would that be so bad? How much frivolous sht do you need? What a stupid brag thread.

The point is that we don’t want frivolous stuff and aren’t inclined to buy it.

I don’t particularly want to be like Scrooge either with two lumps of coal in the fire.

Looking for the middle ground after a lifetime of being strict.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Give the annual tax free max to children and grandchildren, and fund a donor advised charitable fund.

I'm leery of charities. So much of the donations go into overhead and salaries of the administrators. And many are too politicized for my taste. Even the nature ones. I know people who've donated generously and now feel burnt by it.

Check out charitynavigator.com or invest in your local community

[Anonymous]

Anonymous wrote:

Anonymous wrote:When you have been diligent savers your entire adult life and income is higher than you expected. We want to spend more of our money and just sort of feel paralyzed by the choices and also path dependence. I realize this is a good problem to have but has anyone else BTDT and succeeded in upping the lifestyle in a meaningful (to them) way? Brands and impressing the neighbors don’t matter to us - we are looking for things that would actually improve our life. Appreciate any ideas.

Pay money to remove suffering.

Invest in your health. If you are busy, pay to save time.

Pay people who put good into the world.

This on here!

[Anonymous]

Anonymous wrote:

Anonymous wrote:What if you just didn’t spend it? Would that be so bad? How much frivolous sht do you need? What a stupid brag thread.

The point is that we don’t want frivolous stuff and aren’t inclined to buy it.

I don’t particularly want to be like Scrooge either with two lumps of coal in the fire.

Looking for the middle ground after a lifetime of being strict.

Soften the belt wherever you have been strict before and add some frivolous items. Open the door slowly and check what feels good to you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Give the annual tax free max to children and grandchildren, and fund a donor advised charitable fund.

I'm leery of charities. So much of the donations go into overhead and salaries of the administrators. And many are too politicized for my taste. Even the nature ones. I know people who've donated generously and now feel burnt by it.

what a lame excuse. just say you don't want to donate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What if you just didn’t spend it? Would that be so bad? How much frivolous sht do you need? What a stupid brag thread.

The point is that we don’t want frivolous stuff and aren’t inclined to buy it.

I don’t particularly want to be like Scrooge either with two lumps of coal in the fire.

Looking for the middle ground after a lifetime of being strict.

This is still a dumb thread. Basically “we have a bunch of money from our investments! How can we spend it down more or buy more expensive stuff cuz we have too much!!!???” No. You should literally grow your money pile more. Isn’t that satisfactory enough? Why spend lavishly? I get more satisfaction watching my VXUS or other smart investment decisions grow than I would buy a business class ticket that costs $1,500 more than a coach seat or a stupid Hermes bag.

Take your money and buy a condo and rent that fcker out. Play around with options. Maybe try and grow the money more for the next generation.

To be real, i feel like there are no threads started by men that are like this one. Men don’t ask this question of how can they waste their money. I feel like men don’t ask “how can I spend more on unnecessary material goods”. Sorry, I don’t know why this thread is so annoying, but it is. Invest the money. Grow it. Care about money. Stop trying to blow it. Did you even earn it or are you spending it for someone else like your spouse?