To liquidate everything when I get to 60 and live in luxury hotels until the cash runs out

It's a tough one. You get old, you get wisdom, see the changes in the world, live out a (happy) retirement, watch others grow up

but people around you keep dying, you may lose a brilliant partner, physically and mentally you start to erode; you're not considered employable

You die young, you as likely won't have to witness others depart; or suffer agony from diseases that tend to occur later in life. You'll miss the asteroid that is on target to wipe us out (apparently). You won't get caught up in the Third World War. You won't have to listen to Trump on TV. It's tragic you won't have fulfilled your potential but you won't know that because you'll be dead.

I'm getting on and grateful for every day so I might make old. I'll take what comes. No choice really.

Exactly this. There are some pretty horrible obnoxious posts from the OP to be honest - and suggesting life isn't worth living after 75. WTAF?!

Vile. 😖

Most of her posts are dripping with contempt, and loathing for certain demographics. 🙄

To be honest my dad is 70 and he’s mad it clear from when we were kids that we will not inherent any cash and that he intends to spend every penny. He is doing that now and lives and awesome life. He will sometimes take us on holiday or invite us out to wherever he’s staying - I actually value this more than I would getting a lump sum of cash when he dies because I have some great memories and have had some cool experiences. I do think 60 is a bit young, but you know yourself and your health best.

Some hotels have suites for long term residents. Basically if you use up all your money and you need care you will be provided with this while it you had the money or property you would pay for it yourself.

Ooooh no I couldn't be bothered with this. Living out of a suitcase, and moving on every few weeks? That's for teenagers and 20-somethings with no ties, and responsibilities. I am in my 50s and couldn't think of anything worse than not having a secure home to come back to (and know I will be in for my whole life.)

DH and I are mortgage free, and have savings in the mid 5 figures, and 2 decent salaries (both part time, me 18 hours a week, him 28,) and we live in a lovely home in a lovely area near to canal, river, woodlands, and not far from the sea. We have several private pensions each, and plan to retire at 62-63. Why would I give all this up to travel around the world living out of a suitcase, with NO security and no home to come back to. (Also, no income or savings.) ?!

Seriously, why is this a dream for anyone?! DH and I have a lovely secure home, a decent pot of savings, and are financially secure, and can travel whenever we want to anyway, whenever we like pretty much. (Like many people.)

Yep!

We have started spending hard in our 50’s! I’m quite happy to be frugal later on, but right now we are overspending compared to our income. I’m going to give our house to our kids at some stage too and move out. I fully expect to be active at 80 (I’m very fit now, DM is also super fit in her 80’s), if my health is good, I’ll be ok. If I need care I’m going to kill myself. Couldn’t think of anything worse than wasting away in care.

I agree @AInightingale and I note in today’s media that they may be thinking about getting rid of cash ISA’s in an attempt to get us to invest instead. I think the state pension will also be eventually means-tested.

Think we need a new initiative, mixed communities like they have in Holland. I think we’ll have to do it for our selves…,

That’s just not correct. If you make a gift whilst well and without indications that you may need care there is no deprivation, there is no reclaim.

Bollocks.

I pay my taxes. They buy me civilisation.

Yes, go for it. I think it's only a matter of time before the 'deprivation of capital' rules extend to gifting or spending any large sums of money at all over the age of about 70, bar what is needed for everyday life. Everything substantial you buy or give away - a luxury holiday, a nice car, twenty grand to a DC for a new extension - will be viewed as an attempt to evade liability for future care fees. The govt really will become that desperate.

This. ^

My parents are both 74 but at opposite ends of the spectrum as far as health and mobility goes. My dad still does serious DIY around the house and helps with small repairs at my place while my mum struggles to walk. Nothing is guaranteed.

I plan to retire at 60 and do some adventurous travel while I’m still fit and healthy (hopefully). Will have a small flat I can leave for months at a time when needed rather than the money and time out if a house I have now.

Don’t forget that travel insurance gets more expensive and harder to get the older you are.

What did she do after that?

A friend of mine had an aunt that did this. She was unmarried, no kids, always worked, good pension etc. Sold up on retirement and spent almost 15 years on cruise ships.

I would quite like to get 'old.'

The alternative is dying young!

I stayed in an amazing hotel once, aged 32, and priced up how long I could live there for based on selling my house and quitting my job.
It worked out to a paltry 18months.
With a heavy heart I gave up my pipedream, but what an 18months I'd have had!
I think living in luxury for the rest of your days sounds amazing. I can't imagine there would be much security for my generation anyway, so a house is no guarantee of anything nowadays

A wealthy woman I knew spent about 15 years going on luxury round the world cruises. As long as your money holds out, I’d do what you would like.

Wow - steady on Rachel from Accounts. "Ah, but a man's reach should exceed his grasp, or what's a heaven for?" And in this case, reach isn't even that far...

Oh there really are. Do a bit of research.

I think I would spend it on luxury cruises. I love the ocean and buffets.

Do it OP!

I think you are grossly underestimating how long your money will last. A hotel at £250 per night would cost you over £90,000 per year, before any other costs for food/necessities/living. If you live until you're 85, that's over £2million just on bed & breakfast, not taking into account inflation.

But you could be really happy and healthy at 75. You could be loving your life?