"Sometimes, it's the meaningful life experiences with family that can pay the biggest dividends. Undoubtedly, provided one is in great financial shape, as this couple who took to the r/ChubbyFIRE subreddit is, a splurge not only makes sense but could be a good move for those who value creating memories that last a lifetime. Of course, such big-ticket expenses need to be thought out and planned."
"At the end of the day, rushed impulse purchases may not bring nearly as much happiness as one may have thought prior to hitting that buy button. Indeed, it would be a real shame if one made a big purchase and wasn't able to get the most out of it. For many who don't know what the RV experience is like, renting could trump buying."
"Though I'd suggest everyone crunch the numbers with a bit of help from a financial adviser, I do think they do not have all the answers, especially when it comes to such discretionary purchases. Either way, the couple has a wealth planner, and, as you'd imagine, they're not exactly aboard with the idea. Of course, splurging on a top-of-the-line RV isn't the most prudent of financial decisions, but if traveling the country is one's dream, the financial sacrifice could be more than worth making."
An affluent, debt-free couple with a mortgage-free home and $4 million in savings is considering buying a top-of-the-line RV. Renting could be a better option for those unfamiliar with the RV experience. Rushed impulse purchases often yield less lasting happiness, so large discretionary buys require careful planning and number-crunching with a financial adviser. The couple has a wealth planner who is not supportive of the RV purchase. A significant splurge can create meaningful family memories, but travel costs vary and $4 million could either last a lifetime or diminish rapidly depending on spending, investment returns, and unforeseen expenses.
Read at 24/7 Wall St.
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