How much of your money do you actually keep?

[Manhattan]

Having or spending money doesn't guarantee happiness and not having/spending lots doesn't make you miserable. The extreme frugal people I know get pleasure from saving money. I don't know what the ultimate goal might be but I've noticed they tend to gamify the process of saving money by buying stuff on coupons, discounts, bulk, etc. and they seem to get a rush out of it (a lot of times its buying useless stuff in excess just because it was cheap or on sale). To me it doesn't make any sense to save money just for the sake of saving money and I'm on the frugal end of the spectrum but who am I to judge what makes someone happy.

The retirement spending rates noted in this thread are pretty eye popping but I'm glad there's people out there spending that kinda dough - great for the economy and its what helps incomes rise since the high spenders amongst us will demand pay increases to keep up with their lifestyle and everyone benefits.

[HiTempguy1]

I'm such a cheapass, I can't spend money on anything that doesn't really have a hard asset type value to it. But don't get me wrong, I do spend money where it counts/on things I value. Daily driving a M4 or C63 or whatever has zero appeal to me. Spending $15k on a sequential for the rally car? Yea, I can get behind that. Huge house? Don't give the slightest crap. Very, very high quality, well trimmed small house? Oh hell yes. I guess I'm a bit of a minimalist. I only want for exactly what is required to meet the threshold (be it performance, value, entertainment, whatever). I dont have much desire above that threshold.

Except racing. But even then, I do with $50k what guys with $400k can't, so even there. I'm all about squeezing every last bit of value out of a single dollar.

[Misterman]

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What aspect of your lifestyle requires $200k/year?

Nothing requires it other than the aspect of enjoying my life, and being prepared for any future health challenges. I could get by on a lot less, I just don't have any desire to be budgeting in my retirement.

[lasimmon]

I think people over estimate what they think is going to keep them happy when they are 70 years old.

Hell, who the hell knows what the world will look like in about 30 years when I hope to retire.

[rx7boi]

Prepare for the best and plan for the worst. As long as you have a vision and a goal for savings, you're not going to hate yourself everyday waking up.

To me, that's enough reason for me to believe that saving for the future and potentially dying early is way better than living old and having nothing. At minimum I'll be happy in my sacrifices because mental discipline and commitment is equally important.

[mr2mike]

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I think people over estimate what they think is going to keep them happy when they are 70 years old.

This.
You spend the bulk of your retirement savings in the first decade maybe 2 and it drops significantly after that.
I'm certain my 90 yr old grandma spends about $1200/mnth including all her util and living fees. Still lives on her own so her #1 expense is condo fees, lol.

[msommers]

Thing is, if you're wealthy most of your life, that isn't going to change suddenly when you retire. For example if your baller Range Rover dies a couple years after you retire (giving it a two year lifespan is generous I know), that person is going to get another Rover or equiv., not a Honda. You're going to keep golfing at posh establishments, all around the world, not "suffer" at Kananaskis and Earl Grey for the whole summer.