Cracking Open the Nest Egg
Good Morning, Bloomer!
If you finally gave yourself permission to spend some of what you’ve painstakingly saved, dollar by dollar, year by year, likely for decades—which would you choose:
Taking a trip you’ve dreamed of for years—to walk the land where your grandfather took his first steps.
Getting new asphalt because you’re tired of rattling your teeth driving into your garage down a pockmarked driveway that would spit in the face of a potential future for-sale sign.
Investing in a pricey motorized lawn mower jack for maintaining an expensive riding mower you already invested in to spare further damage to your recently delaminated spine.
Keeping funds in reserve for a life-saving medical procedure you may or may not need some day.
Are you feeling as paralyzed by the decision as my husband and I are?
We’re grown-ups. We should know enough by now to be able to make a sound and prudent decision about this.
And yet here we are, second guessing ourselves when our well-meaning offspring says “That’s quite a chunk of change, isn’t it?” when we share our current thinking on the matter.
For crying out loud.
What exactly were we saving for all those years? Aren’t these the things those decades of discipline and sacrifice were meant for?
It seems we’ve forgotten what the nest egg is actually about.
Somewhere along the way, we decided that the whole goal was just to create a stockpile. And then we decreed that it was sacred.
That spending it on things that bring joy or ease or adventure rather than on necessities was somehow irresponsible. And when someone raises an eyebrow at a purchase, it confirms the doubts we already had.
The fact is—a nest egg was never meant to be the destination. It was meant to fund one.
So how do we know when it’s the right time to crack open the nest egg? And how do we decide which destination is worthy of cracking the egg for?
Don’t take this as financial advice. I’m not a financial advisor—numbers and I have a famously fraught relationship.
But I’ve been thinking about a few personal questions—which have nothing to do with spreadsheets—that might help with these decisions:
Does spending the money create an experience for you or just a thing?
Experiences tend to compound in ways that purchases don’t. In memories, in connections, in stories you’ll still be telling in ten years.
Will you regret not doing it?
Not might you regret it, will you? There’s a difference. Is certain regret something you’re willing to live with?
Does waiting make it more or less possible?
Let’s face it—at this stage of life, some windows don’t stay open indefinitely. And things don’t usually get cheaper over time. A driveway can maybe wait. A trip to a foreign land, maybe not.
If you’re waiting for the perfect moment—it doesn’t exist.
What does your gut say when nobody else is in the room?
If the raised eyebrow belongs to someone who isn’t living your life or carrying your dreams, it shouldn’t be the deciding factor. Your gut is probably more reliable.
Our nest eggs belong to us. We built them. We get to decide what to do with them.
A nest, after all, is not meant to be preserved forever. It’s meant to be the place from which something beautiful takes flight.
Keep Blooming 🌱
Barb
P.S. Are you wrestling with this, too—permission to spend what you saved? What's on your list that's waiting for a yes? I'd love to hear.
Will Wonders Never Cease?
Two retirees. Two different approaches to the nest egg. Two very different endings.
Agnes saved every penny she could for retirement—packed lunches, kept her old car, said no to vacations and Broadway shows with friends.
Now in her 80s, Agnes has more money than she knows what to do with. But her body can no longer keep up with the travel she postponed.
“I was so focused on saving that I forgot to actually live,” Agnes told GOBankingRates. “I can’t buy back lost time or missed chances.”
Jenny spent her career as a wealth manager. Her job was helping other people make smart decisions about their money.
When Jenny retired, the first thing she did was climb Mount Kilimanjaro. No waiting.
Her advice? “There are two resources—physical and financial. And in many cases, the financial will outlive the physical.”
“Father Time is undefeated.”
Agnes has the money. Jenny has the mountain.
Which would you prefer?
Read Agnes’s story here: https://www.gobankingrates.com/retirement/planning/i-am-retired-i-regret-my-frugal-retirement-here-is-why/ (Includes some thoughts on finding a middle ground.)
Read Jenny’s story here: https://moderawealth.com/from-dream-to-departure-dont-delay-travel-in-retirement/
Pun Intended
I'm not splurging.
I'm just making the money I saved feel appreciated.
Another beauty, Barb! All that you shared in this article is exactly what Beyond the Grind Life is all about.
- The precarious balancing act between saving and spending
- Not living with regret (hence, we bought the damn tickets)
- Trusting our gut that waiting was NOT the right answer for us
- Knowing that our bodies will most likely give out before our minds and finances will, so we spend a lot of time focused on mobility and strength training ... and so much more!
Thank you for sharing and reminding me of so much that's important in my life.