Reply to How much do you think you need for retirement, salary and age (and when you expect to retire)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We are both retired and have more money than we need for retirement (we are very blessed!) but one thing we have discovered is that we spend far more in retirement than when we were working. We are both healthy and in good shape and with a ton of leisure time available to us a lot of it is filled in with different sports and travel both domestic and international. We have the luxury of being able to do all of this but you really need to factor in what you would like your life to be like in retirement. Do you want to travel, do you want to escape the winters or awful summers, do you want to take up a new hobby? All of this costs money and is often not in one's current budget. Our travel expenses are probably 3-4 times what they use to be and our overall expenses are likely up 25% or so because when we were working we were not spending money! [/quote]

Or you just never developed self-control. If I don't have the money, I don't have the money. My mom told us that all of the time and I tell my son that too. You are choosing to spend all of that money to keep yourselves occupied in an expensive manner. My mom is retired and on a budget and she occupies herself by reading, watching Netflix, etc and walking the dog. So her expenses include some overdue library fees and the cost of a dog (she uses my Netflix). [/quote]

I think you missed the point.  They have the money and are enjoying their retirement and can afford it.  No self control would be retiring and spending money you don’t have.  This poster recommended thinking about what kind of retirement you want to figure out what you need.  Me, I want to be able to afford to travel and engage in activities that cost money, so I am saving for that.[/quote]

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