This survey about downside being too frugal.

1. We get surveys that ask "Is this a good time to spend on a fridge" or "Take a vacation" or "Buy a car" because of economic uncertainty. I always say yes because if we stop spending, we create the very economic conditions the media says we should beware of. Here are some consequences of un-targeted saving - saving every penny versus budgeting savings to meet specific goals. Which of them apply to you?

We give up too much of our current life for a future that isn't guaranteed. If we knew we were going to die tomorrow, few of us would want to have as our biggest regret that we didn't spend more time at the office.

We lose touch with a lot of people because we say no to get togethers. Now when retired there are fewer friends and not as many good times to look back on.

With budgeted savings there is less need for debt and more evidence of financial stability. Without a budget there isn't the joy from spending on something we saved up for. Saving every penny means spending even a penny can generate a stressful debate.

Other (please specify)

Not Applicable

2. Many retirees have a problem some would love to have - more money than needed for current expenses. Years of saving and compound interest has created a nest egg. But one can have money in the bank but don't dare spend it, or not much to spend it on. I am not talking about being wealthy. Just having more than say 3 months income needs in reserve . Which of these might apply to you?

Many retirees have a problem some would love to have - more money than needed for current expenses. Years of saving and compound interest has created a nest egg. But one can have money in the bank but don't dare spend it, or not much to spend it on. I am not talking about being wealthy. Just having more than say 3 months income needs in reserve . Which of these might apply to you?

You may have enough to live on for the rest of your life (with government benefits as a safety net) but you can't buy back lost time or missed chances.

If your income is above a certain threshold you won't qualify for many of the benefits you have paid for over the years.

Health problems might limit your retirement plans. You might have money to travel, but your body can no longer keep up. You might wish you'd taken some trips before you retired when you had more energy. Now even short outings can take it out of you. You can go places but can't enjoy it as much when you get there.

Other (please specify)

Not Applicable

If you have money to leave to the kids but none for yourself, life insurance can free up cash now because it pays a guaranteed sum when you die for pennies per dollar insured. Have you investigated this?

3. I think the key is to find a middle ground. You need financial security, but not at the cost of a good life. There are budgeting apps and financial planners who can help you map our a secure future while living in the present. Here are some advantages from doing that. Which of them apply to you?

I think the key is to find a middle ground. You need financial security, but not at the cost of a good life. There are budgeting apps and financial planners who can help you map our a secure future while living in the present. Here are some advantages from doing that. Which of them apply to you?

You can spend on experiences, not just stuff. Your best memories came from things you did, not things you bought. Things get old, but good times stay with you.

You can include some "fun money" in your budget. It's okay to splurge now and then. A few treats won't ruin your retirement if you're careful with money overall.

Once you have a budget, and a will that makes sense, you know how much you can afford to spend on treats for children and grandchildren. Too much money that isn't spoken for will make you a target for greedy relatives, scam artists and the tax man.

Other (please specify)

Not Applicable

4. Many retirees scrimp and save to build a legacy for children and grandchildren. I don't think this is a good idea. Here are some of my reasons. Which of them do you agree with?

Many retirees scrimp and save to build a legacy for children and grandchildren. I don't think this is a good idea. Here are some of my reasons. Which of them do you agree with?

Having money or other assets that only get paid out when you die may increase your chances of an earlier demise than you intended. Others may put a target on your back.

If you have a family home that is free and clear and intend to leave it to the kids, this can cause a family feud. In order for one kid to have the house they will have to mortgage it to raise money to buy out the other kids. Chances are the house will be sold so why not do it yourself and use the money to enjoy retirement?

If you have money and other assets to leave but don't have a legal will then better get one. This will allow you to dictate who gets what and prevent any family "black sheep" from grabbing more than they deserve.

The ultimate goal is to leave this world the way you entered it - with some medical people and family members around but nothing of monetary value. You can't take it with you so enjoy it before you go.

Other (please specify)

Not Applicable

This survey is about the downside of being too frugal.