Lifestyle after retiring

[RetireJapan]

I think by the time you have trained yourself to the point that you are able to save and invest your way to financial independence over decades those habits become core to who you are. There is very little chance that you will suddenly become very spendy.

This has not been the case for me since I retired. While I was working I simply didn’t have much time to spend money. Now that I have free time I am constantly looking for stuff to buy online or out spending money on food, travel, or the multitudes of other temptations in Tokyo. I find myself having to make a concerted effort to control my spending so my wife will have something left over when I die.

Yikes! Something to watch out for...

[Bubblegun]

It can be easy to panic a bit thinking you're going to live in poverty, worrying about heating when we get older, but I had to stop that way of thinking.
We need to live a bit now, because when we get older, something else will kick in. I did go through a phase of saving like mad, and it was putting a bit of pressure on us, as we wanted to jam as much money into the mortgage while interest rates were crazy low. But we've eased off now.
I may not go to Starbucks as often as I used to,( that's due to age), I don't really drink ( that's due to marriege), but I do buy games, or books and a coffee that I want.While we won't go globe trotting, we do go where we want to visit.

We're not interested in new cars anymore,( again and age thing), designer stuff and I don't the latest gadget, but that doesn't mean we dont take advantage of things. EG I bought a new MacBook Air M1, well it was refurbished to be exact, and I got it, only because the others died a death, and they were second hand.

I think many people see living frugal as a synonym for living poor. But does it mean, saving smart, spending smart, living smart? I sat at the traffic lights next to a Lamborghini, then I realized, he paid a lot more to sit at the same red light as me, stuck behind a K car.

So long as we can enjoy time with out families, food on the table, a roof over our heads, what more do we need.

[Tokyo]

Our retirement lifestyle is much the same as it was pre-retirement. That’s because my wife and I retired when we were confident that we would be able to maintain our lifestyle without any salaries coming in. But you have to appreciate that a lot changes. Life became cheaper. No need to buy work clothes. The retirement bonus paid off the mortgage. The kids left home. We downsized. Some costs went up when we moved to Tokyo where almost everything costs a little more but the “multitudes of temptations” noted by Gulliver are making our daily lives here so enjoyable.

Our objective was always to live a comfortable retirement and to not be forced to suddenly tighten our belts because of inflation, market crashes, currency fluctuations, health or the unexpected (we never thought we would want to move to Tokyo, for example). The recent economy has been a timely test and so far, so good. Should one of us die tomorrow, we know that the remaining spouse will live comfortably and never run out of money. (Unless they commit to helping that poor Nigerian prince get his many millions transferred out of his country!) But as I mentioned, those goals were really important to us and we both worked on them for almost 40 years.

Everyone has different ideas about what they want or will accept. We are generally not voracious consumers but will still spend freely on things important to us like food, travel and family. It was the same when we worked. If you can’t do that then what is the point of your working life or retirement? (Admittedly, things may be different for FIRE devotees who want to retire at 35, but that’s their priority.)

[TJKansai]

One nice thing in Japan is that a lot of companies pay for commuting to and from work. I was considering cycling to work but it doesn’t seem worth it when I can just relax on the train and pay the same (and cycling during rainy season suuuucks!)

I earned an extra ¥2,000,000 by biking to work over 10 years.

These days, at one of my jobs I can get ¥1,000/day if I bike 35 minutes each way. As CaptinSpoke said, I do it for the exercise more than the cash.

[Bubblegun]

(Admittedly, things may be different for FIRE devotees who want to retire at 35, but that’s their priority.)

That's so true. And do you notice that the people that go on about FIRE, or the ones in the articles aren't really your average Joe. They're computer engineers, financial service workers, or lawyers. They certain earn way above the average national wage. So basically they are living like the rest of us, and jamming the rest away.
Are they just selling articles and books, and blogs.
As you said, THATS their priority, and for them reachable, but more most it't not you average ALT.

[captainspoke]

...
It doesn't have to be cycling, but a healthy amount of exercise will keep you fit and better able to enjoy eventual retirement (while it's your bank account that will get fat).

I think the core of it is what Ben said about it becoming part of your lifestyle. I still ride--was out four times this week (incl this morning), total 168km, time 8:48. Being out in the world like that is wonderful, and being able-bodied enough to do it is a gift, almost priceless. When I can't do it any more will be a sure sign of getting old.

[Isodora]

I agree on both what was said: That being frugal is a habit (or maybe even in the genes), but also that you might be tempted to spend more, when you have more time.

Luckily, I don’t like shopping, and am also at the stage in life, where I don’t need more (clutter), we never had that much really. But once retired, in the not so far away future, I will probably go to coffee shops more frequently and hopefully meet friends more often and socializing costs money (of course it‘s worth it). We never owned a car, I go almost anywhere by bicycle (or train), love to explore my surroundings (and nowadays also feel obliged to keep fit), books I get from the central library, which has not a large, but big enough section of English and other foreign language books, I have many balcony plants (including some grown successfully from cuttings pinched from the wayside) do a bit of beach combing, am interested in the history of the place I live at, occasionally do a bit of crocheting (to get me off the internet) all very affordable.

We never buy anything on loan (apartment loan exempted) rarely use our credit cards. A Lifestyle where you spent more than you have (and not because you have to) would give me serious nightmares. Our second child is due to be a „Shakaijin“ in 2024, hopefully no major expenses after that.

It was very interesting to read about your views on this, great forum.

[Viralriver]

(Admittedly, things may be different for FIRE devotees who want to retire at 35, but that’s their priority.)

That's so true. And do you notice that the people that go on about FIRE, or the ones in the articles aren't really your average Joe. They're computer engineers, financial service workers, or lawyers. They certain earn way above the average national wage. So basically they are living like the rest of us, and jamming the rest away.
Are they just selling articles and books, and blogs.
As you said, THATS their priority, and for them reachable, but more most it't not you average ALT.

I'm potentially in that group but started working late and definitely spend a little too much to see FIRE as a possibility before 50. 35 would be an insane goal for anyone, but I know a lot of these people save vigorously and probably earn double what I earn.

[RetireJapan]

My wife and I went from 0 to close to FIRE in about 15 years. That was with two middle-class incomes and with kids in the latter teenage years (now independent). We are pretty frugal on the big things (cars and housing), and quite spendy on food, travel, and gifts to family.

The stock market boom probably helped quite a bit too