Reply to What do people do when a serious downturn happens 5 years or so before retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Our retirement goals include the ability to travel a lot, eat at nice restaurants, spoil grandchildren, leave a legacy, etc. If things go south, those things would be the first to be cut out of the budget. Life would look different, but it would still be comfortable.

If you are five years out and concerned, do everything you can now to be better prepared. Pay off debt, make any repairs, save more, get healthy, work an extra year or two, etc. [/quote]

I don't understand the eat at nice restaurant thing to be honest. As you age taste bud change, diet become more restrictive etc.

I have noticed people have so many things they want to start doing when they finally retire, but I don't think they take into account the physical decline and other challenges that come with old age.[/quote]

Yup, that's right 65yos shouldn't dare to dream at a nice restaurant because they probably can't get out of bed.

WTAF!
[/quote]

I believe PP was suggesting that the poster start eating at nice restaurants now vs. waiting for retirement.  I am not sure the other PP was suggesting they are waiting until retirement age to eat at nice restaurants, but it was perhaps poorly written.[/quote]

YOu shouldn't wait for anything you can afford now until retirement.  It's silly, because you never know how your health will be many years later.   There are no guarantees in life.  Enjoy what you can now as long as it's not getting you in debt or wasting a huge chunk of your retirement.  Older people naturally have a lot less need physically and mentally for $$$$ things.  Of course you can come up with all sorts of luxuries including plastic surgery, exotic anti-aging treatments, fine dining, 5 star travel, designer clothes, etc. But your body is still not the same and neither are your hormones (desire to always look sexy/attractive), your gut, your level of energy.   This lifestyle of jet setting, eating out, and keeping up with uncomfortable fashions is more exhausting in old age.

Take one more modest trip somewhere you really want to go today, vs. saving this money hoping to take this trip in more luxurious setting after 65. Try that fine dining restaurant this year and go 1-2x a year vs. waiting to afford to go their frequently.  That's my take on it having seen many family members age differently, and some die before the retirement age.[/quote]

This 100%. You can save for retirement and enjoy fine things at the same time. It's all about planning. To each their own? But do you really need to spend $25k to go to the Maldives and stay at the give seasons. Hey who am I to judge. All am saying is most things that people are waiting until retirement to enjoy they can do it today.

I am very athletic and healthy. I am glad I traveled a lot in my 30s and 40s because at 59 even though I still feel great and energetic I will be lying to say that the trip I took to Nepal 13 years ago would be as easy if I had to do it today. No way.

Enjoy today. Tomorrow is not guaranteed. And stop obsessing over "generational wealth". Your kids will be fine lol.[/quote]

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