At what point are you comfortable with big, frivolous purchases?

[Anonymous]

I think either way is fine with me whether you would buy them or not. I'm 50 years old and our yearly HHI is only 200K. Our house is paid off, and no other debt, one child with 4 semesters college expense covered. We will get pensions, SSN and have combined $2.2 mln in 401K. Three years ago, I treated myself to $3000 gold diamond stud earrings (which were on sale for this price from $6000). I wear them all the time; however, the older I get the less I want of any of this materialistic stuff. I prefer travelling, having more savings for peace of mind, spend money on healthy food. Do I regret buying those earrings? Yes and no, it really is difficult to answer. I think you can afford the bracelet and truly buy it if you want it.

[Anonymous]

You already have more in retirement savings than most Americans have when they retire. Live a little and treat yourself.

[Anonymous]

You have the money. Go get it.
I wouldn't buy it, because I never wanted frivolous things. I don't get your excitement at all.It's like being happy for someone who likes Kardashian show and new episode is out.

[Anonymous]

Anonymous wrote:DW got a great new job this year and I bought her a 12k watch for Christmas. She is in consulting and has in-person meetings all week long and also does a lot of wining & dining/business development, so in my mind the watch is also an investment in her career (men look at watches). Our HHI is around 1.3m. This is the first big piece of jewelry either of us has bought since our wedding twelve years ago. It felt like an appropriate way to celebrate the new job.

Love this! Curious what the income split is between you - is she the breadwinner?

[Anonymous]

I'm pretty frugal, and I would say to buy it. If you are meeting all of your other financial goals and have money left over, there is nothing wrong with spending on something that you enjoy and that will make you happy for years.

(disclaimer: I'm a man and know nothing about jewelry.)

[Anonymous]

Anonymous wrote:We have $8M net worth ($7M liquid, rest in home equity) and finally ok'd DH to gift me a gold Cartier watch around $20K for a promotion. Late 30s. Slightly regret not buying last year before the run up in gold.

If it was the gold Baignoire I am sooo jealous. Also saw it jump from $15K to over $20K. Almost grabbed it when I saw it at duty free at AMS and kicking myself.

[Anonymous]

Anonymous wrote:You already have more in retirement savings than most Americans have when they retire. Live a little and treat yourself.

Most Americans are poor.

[Anonymous]

Would you be ok if your DH also went out and spent $5k?

[Anonymous]

It doesn’t sound like it’s going to be fun.

[Anonymous]

Anonymous wrote:There's a YouTuber I follow (sorry can't recall name) and she said she got the advice to never buy anything expensive you can't buy two of and that it's served her well. She's rich now.

So, if you can't easily afford two $5K bracelets, you can't afford it.

This approach is stupid.

[Anonymous]

Anonymous wrote:What does your husband think about this, OP?

Who the heck cares? (not op)

[Anonymous]

Anonymous wrote:

Anonymous wrote:What does your husband think about this, OP?

Who the heck cares? (not op)

And we wonder why the divorce rate is so high.

[Anonymous]

I was pissed at my DH and bought myself a 4k diamond ring. I now regret it. I totally don't need it.

[Anonymous]

Anonymous wrote:5k? Hahaha

No but you could get yourself a nice piece for $500 for your birthday.

+1

[Anonymous]

I am still not comfortable with spending money on anything excessive. In my 60s.

We were public servants, multi degreed. Grew up comfortable in the 60s and 70s. I mean, there was never enough money for anything but basics. I see all the garbage about Boomer living the lavish lifestyle that this generation will never have. What lifestyle- all the people we know were in the same boat- recession after recession. No giant house, no vacations, or just eating out often. But, we made it work. Now we have some money, we saved and now have modest pensions and modest inheritances. We just learned that we don't really need a lot and could buy quite a bit, but no longer care about doing so v