I'm doing it, I planned it for years.

[TrMama]

I'm doing it and its done. Almost!

 

For my whole life (I'm 54) I have been saving and saying some day I will build the house that I want (3br 3 car garage with a big yard) well I signed the papers on the house and its being built, within a year I will be moving into my new home and leaving work. Now the hard part starts. I plan to start spending the money I have saved up. I hope I can do it. It goes against my nature, I know its a mental hurdle and I need to tell myself I can spend some I will be fine. I have been trying to change my way of thinking slowly. for the first time in my life this month I stopped all investments. No more contributing to 401K, IRA, ROTH or stocks nothing, I'm not even reinvesting the dividends. I'm going cold turkey. Come next month all that money stays in my account. 

 

When you retired how were you able to get over the mental block and start spending what you worked so hard for? Any tips, suggestions, ideas? How did you do it and how are you dealing with it?

 

I know next year when I see all that money just sitting in the account no doing anything that's going to be a challenge not investing it.

[babylove]

Not a reply to your question. If you are building a custom house have you looked into "net zero" or "passive house" design. If I was much younger it is how I would build a house. Search google or YouTube. Good luck and congratulations. Don't consider yourself retired. Consider yourself free to do whatever you want to do.

[jeinco]

I think I would continue investing and count the gains as income each year. I would adjust my spending based on that income. I'm not sure why you would stop investing. I am assuming you will be rolling money over to a Roth out of a tax deferred account beginning at age 55 (I think that is the first you can retire early and roll over withdraw early without a penalty). Roll over to the tax bracket you are comfortable with each year. Doing so before you start Social Security will allow you to roll over quite a bit. The Roth would be a good place to invest.