Now that you’re here at retirement—or getting close—there’s a new challenge: how do you actually spend your money without guilt, anxiety, or the fear of running out?
Really interesting topic. I am just starting my early retirement journey and plan to have a clear budget. And trying to tell myself if I stay within that budget, then everything is guilt free spending (no matter what it is for). Logically, it sounds great, but I'll soon see if it works. :)
Great points Bec. It's a global issue going I've been tracking for decades that as people hit their 60s the need to "not spend" often out weighs the "ability to spend".
We have reached the stage where my husband decided to retire without much consultation with me and simply arrived at a date. He is 62 and I’ve just turned 64.
Now, I do realise we are not getting any younger and I have some health issues. I’ve had enough
He just looked at how much we had in super. I already owned the house and payed the bills while he stacked his money in Super. He’s only just stopped paying child maintenance the year before last. (He had 4 children, I have none).
He didn’t think that beyond an income stream, what he needed.
Very basic 50k per year he’s budgeted. . He needs a newer decent car to suitable to toe some sort of off road combo caravan. (Too buy,)77
Now he’s saying we are living beyond our means. He didn’t budget for holidays or house maintenance.
I hate it. I’m too frightened to spend a cent. I have to stop and consider everything I do. This is not the ‘epic retirement.’
He’s counting every penny. We have no cash savings to speak of. Or they are mine. Ugh.
I’ve listened to your advice and it’s great … but often your guests are pretty opinionated and totally wrong.
Go with Flight Centre you say. We experienced crap knowledge based on your recommendations.
I listened on woman’s health. That guest was infuriating with her lack of knowledge . Trust a financial advisor who can’t get the figures right and gave my husband the wrong advise.
Why don’t you do something really worthwhile and petition or lobby government for an earlier pension age. Be more specific in the advice you pass on particularly with you less than knowledgable guest speakers. Particularly regarding travel and health.
There is nothing epic about living on a budget where you can’t live the way you want to live. My experience so far. My husbands expectations and lack of planning. His greatest joy is not getting up to an alarm clock. And going to a gym maybe 4 times a week. How epic is that. Wow.
Im sad to hear you vent your frustration - and I get it. It's tough doing retirement with not a lot, feeling under pressure. And the only advice I have is to work through how happiness is created and really look for some of life's simple joys - to alleviate the focus on financial challenges you can't necessarily change.
I do want to point out that I would never have recomended Flight Centre - for exactly the reason you mentioned. Travel advisers (which we talk about in a podcast with Fiona Dalton) are not what they offer - they have consultants (people trained to sell you products).
Ginny Mansfield was superb on womens health last year and incredibly detailed. There's a real issue with "telling people what to do" on health, money or anything else - we try to walk a fine line of giving good information alongside allowing you to further research things yourself when you're interested in moving forward with them so you don't blame me for your decisions. The reality is, I can make suggestions and explain things but the choices you make always need to be researched further so you ensure they are right for you!
Really interesting topic. I am just starting my early retirement journey and plan to have a clear budget. And trying to tell myself if I stay within that budget, then everything is guilt free spending (no matter what it is for). Logically, it sounds great, but I'll soon see if it works. :)
Great points Bec. It's a global issue going I've been tracking for decades that as people hit their 60s the need to "not spend" often out weighs the "ability to spend".
We have reached the stage where my husband decided to retire without much consultation with me and simply arrived at a date. He is 62 and I’ve just turned 64.
Now, I do realise we are not getting any younger and I have some health issues. I’ve had enough
He just looked at how much we had in super. I already owned the house and payed the bills while he stacked his money in Super. He’s only just stopped paying child maintenance the year before last. (He had 4 children, I have none).
He didn’t think that beyond an income stream, what he needed.
Very basic 50k per year he’s budgeted. . He needs a newer decent car to suitable to toe some sort of off road combo caravan. (Too buy,)77
Now he’s saying we are living beyond our means. He didn’t budget for holidays or house maintenance.
I hate it. I’m too frightened to spend a cent. I have to stop and consider everything I do. This is not the ‘epic retirement.’
He’s counting every penny. We have no cash savings to speak of. Or they are mine. Ugh.
I’ve listened to your advice and it’s great … but often your guests are pretty opinionated and totally wrong.
Go with Flight Centre you say. We experienced crap knowledge based on your recommendations.
I listened on woman’s health. That guest was infuriating with her lack of knowledge . Trust a financial advisor who can’t get the figures right and gave my husband the wrong advise.
Why don’t you do something really worthwhile and petition or lobby government for an earlier pension age. Be more specific in the advice you pass on particularly with you less than knowledgable guest speakers. Particularly regarding travel and health.
There is nothing epic about living on a budget where you can’t live the way you want to live. My experience so far. My husbands expectations and lack of planning. His greatest joy is not getting up to an alarm clock. And going to a gym maybe 4 times a week. How epic is that. Wow.
I’m totally over it.
Im sad to hear you vent your frustration - and I get it. It's tough doing retirement with not a lot, feeling under pressure. And the only advice I have is to work through how happiness is created and really look for some of life's simple joys - to alleviate the focus on financial challenges you can't necessarily change.
I do want to point out that I would never have recomended Flight Centre - for exactly the reason you mentioned. Travel advisers (which we talk about in a podcast with Fiona Dalton) are not what they offer - they have consultants (people trained to sell you products).
Ginny Mansfield was superb on womens health last year and incredibly detailed. There's a real issue with "telling people what to do" on health, money or anything else - we try to walk a fine line of giving good information alongside allowing you to further research things yourself when you're interested in moving forward with them so you don't blame me for your decisions. The reality is, I can make suggestions and explain things but the choices you make always need to be researched further so you ensure they are right for you!