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

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[quote=Anonymous][quote=Anonymous]All of last year I was in survival mode knowing that I would likely lose my job as a federal contractor and as the main breadwinner in my family. We cut back on a lot and saved as much as we could in case I lost my job and managed to get about 8 months of expenses into liquid savings. I found a new job in December which should be pretty stable (no longer tied to the federal sector) and although it was a pretty hefty paycut we're still able to save.

Last year was also the year I turned 40. I had really wanted to buy a piece of jewelry I've had my eye on for years (in the ~$5K range, but it's gone up because of the price of gold). I obviously didn't because of everything going on. I would like to buy it now but feel immense guilt doing so and I'm not sure why -- perhaps because it would be the most I've spent on just me (e.g., not a family trip or trip with my husband or a home improvement or heck something for my kid, just me).

I know we can afford it (I think?). I'm 40, partner is 44. We collectively have $1.25m in retirement, $225K in liquid and taxable investments. Kid has a fully funded 529 thanks to grandparents (they're 11 and have over $400K in there). No debt other than mortgage. So I can afford to just take the $5K out of savings and buy the bracelet, right? Argh, why do I feel so guilty!! 
[/quote]

Jewelry, bags, watches aren't needs, they are wants and you'll probably wear a few times and then start craving for something different so unless you hit a $5 million mark, its not sensible. That being said, your money your choice. I'm only stating my opinion. [/quote]

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