Mar 8, 2026
You’ve spent decades clipping coupons, maxing out your 401(k) and delaying gratification for “someday.”
Well, that someday is usually retirement. These are the golden years of your life. If you’re not going to enjoy the fruits of your labor now, you may never do it.
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Unfortunately, many older Americans and retirees struggle with this shift in mindset.
Many retirees are preoccupied with the fear of depleting their savings. According to a 2025 study by Allianz Life, 61% of Baby Boomers and 70% of Gen X adults worry more about outliving their savings than death itself (1).
As a consequence, many retirees underspend their savings. A 2025 study by David Blanchett and Michael Finke, published in the Financial Planning Review, found that married couples age 65 with at least $100,000 in retirement savings withdraw just 2.1% per year (2). Single retirees spend even less, drawing down roughly 1.9% annually.
If you’re part of this tight-fisted and anxious cohort, it may be time to make room in your budget for a few guilty pleasures. Here are five things worth indulging in before it’s too late.
1. Travel
Here’s the blunt truth: You can’t travel comfortably forever.
Once you hit your 60s, you probably only have a handful of years to enjoy retirement in full health. That makes this the perfect time to travel around the world. A long-haul flight to Australia or a kayaking adventure in Malaysia is far more enjoyable in your 60s than in your 80s.
That is why travel is a top-line item in many seniors’ budgets. In 2025, roughly 70% of adults over 50 planned at least one trip, according to the AARP (3). On average, their annual travel budget was $6,847.
Simply put, if you’re under 70 and your annual travel budget is below $6,847, you may be missing out on enjoying your best years.
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2. Spoiling the grandkids
Gifts and financial help are among the easiest ways to show affection for your grandchildren. It is also a favorite indulgence for many seniors. According to The Senior List, 96% of grandparents give at least some money to their grandkids (4). From toys to college funds, grandparents spend an average of $3,917 on their grandkids each year.
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Given that the annual gift limit is $19,000, according to the Internal Revenue Service (IRS), many seniors consider annual gifts as a tax-efficient way to leave a legacy for their loved ones (5).
3. Home improvements
That kitchen or bathroom remodel you’ve been putting off for years? Retirement is the perfect time to tackle it.
You finally have all the time you need to hire the best contractors and supervise their work. It is also a good moment to invest in making your home more comfortable for you and your partner.
In fact, safety upgrades such as better lighting, handrails or a downstairs bathroom can significantly improve your quality of life and reduce the risk of injury.
Read More: Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
4. Dining out
After decades of lunch meetings and takeout meals, retirement can finally be a time to enjoy your favorite foods.
However, data suggests that many seniors actually cut back on dining out after retiring. According to Bureau of Labor Statistics data cited by AARP, adults ages 55 to 64 spend $3,811 a year eating out, while those over the age of 65 spend just $2,509 (6).
If you’re over 65 and passionate about different cuisines or fine dining, there’s a good chance you still have room in your budget for this guilty pleasure.
5. Dream purchases
Whether it’s a sports car, grand piano or that ridiculously expensive espresso machine, retirement is the perfect time to buy that hot-ticket item that’s been on your list for years.
Just be cautious about purchases that are extremly expensive, such as luxury homes or require extensive ongoing maintenance, such as boats. As long as you avoid going overboard, a few guilty pleasure purchases shouldn’t hurt your retirement plan.
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
Allianz Life (1); Wiley (2); AARP (3, 6); The Senior List (4); IRS (5).
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Vishesh Raisinghani is a financial journalist covering personal finance, investing and the global economy. He's also the founder of Sharpe Ascension Inc., a content marketing agency focused on investment firms. His work has appeared in Moneywise, Yahoo Finance!, Motley Fool, Seeking Alpha, Mergers & Acquisitions Magazine and Piggybank.
