Modest pension but want to splurge when the time comes.

[sparklingpinkenergy]

Im a divorced Mom of three. I’ve worked full time
all of my life . Raised my children solo, two of whom have mild SN. My life has been so good despite some ups and downs and my work has been my saviour when times got hard. I love it and will miss it but will continue to work in my field voluntarily and paid , now and again after retirement
the majority of my income has been spent on my children over the years , like so many of us parents , and I’ve done that lovingly .
However , I’ve always, since a teenager , wanted a Chanel classic 2.55 bag.
I will receive a decent sum on retirement and a lump sum also. My income will halve but my children will be financially independent by then I expect .
my dream is to fly to Italy solo or if I have a partner by then, with him .. for a weekend
f decadence and luxury and include a trip to one of the Chanel stores to buy my bag of dreams. It’s ridiculously expensive , I know and guilt is beginning to set in.
the guilt of splurging on myself I expect .
AIBU to do this or should I keep an eye on designer exchange stores? I can do a trip anytime but it seems like an extortionate thing to do . Then again, forty years of work outside home and raising my children solo deserves celebration too!
Id be interested in your thoughts!!

£40,000 is not a modest pension! So yes you can afford an expensive bag & it sounds like you have worked hard.

Treat yourself OP, you deserve it and no one lives forever

Sorry , my post was not meant to be misleading. My income will essentially halve so that was my point re £40k pension. The dilemma I guess is whether it’s a huge amount or f money when I could get one for maybe 2/3 of that price pre loved? And I really have no issue with pre loved but the bag is almost like a symbol or a mark of hard work for a long period that I’ve genuinely waited for all of my working life .
it s possibly the feeling I’m chasing ?
I would wear it everytime I leave my home and am not wearing gym/ leisure gear. It will not be for ‘ occasion ‘ wear but an every day wear.

Enjoy yourself while you can BUT those bags are ugly as sin!

Is it the £5k bag? You must do what makes you happy if you can afford it . We can’t make that decision for you. Personally I couldn’t spend that
much on a bag when there are so
many good dupes

Would you be ok carrying 10 grand object around displayed obviously when you are an older lady??

Is there anything else would you spend that money on for yourself alone?

Is this a symbol of freedom, of reward that you deserve, or just a frivolous notion? A bag is a bag, and wearing chanel to Sainsburys is probably an invitation to be mugged!

No one here can tell you what to do. But if it were me, I'd use the money for a luxury trip around Italy and buy a dupe in the market. 😊

But I'm more into travel and experiences than "things", so it's horses for courses.

Before you make your decision, I'd try to see a few pre-loved Chanels in person. The leather and gold are much higher quality in older bags. I think it's a bit of foolishness to spend more for an inferior product. Ultimately, it's the bag, not the half hour in the shop, that's going to make it special.

Sorry?

You can buy a used 2.55 for 3k

Target for mugging. A guy got his rolex taken off his wrist at our local pub the other day. Its a nice area and posh pub, they just grabbed him in the pub gardrn, took it off his wrist and left.
My nan had her bag split with a knife from underneath in the supermarket and all her cards and cash taken out the bottom.
Ive had my bag snatched twice.
Kids are reguarly getting jumoed for their expensive moose knuckle and canada coats round here too.
We have a serious problem with car theft, my DH colleague had his taken off his drive at 7am a couple of weeks ago and he watched them do it, couldnt do much as they had a knife.
I live in the city though so may have skewed judgement.

Definitely look at some preloved bags in good vintage shops before you buy a new one.
As an investment it might outperform a share portfolio

Do it! If you can't spoil yourself in retirement, when can you?

I recently retired, and have always wanted to travel to Antarctica. So I did. Lots of friends and family thought I was nuts (as did my DH). Do I regret it? Not for a second!

In what world is that a modest pension? It's equivalent to a pot of about £1m.

Buy the bag and have your lovely weekend, why not? I definitely wouldn't be looking at second hand.

This is good advice.

sometimes the wanting and anticipation are more enjoyable than the reality.

spending 10 percent of your lump sum on a bag seems unwise, but it’s your money.

I don’t think we go on the same kind of holidays. And I’d be surprised if someone eyeing up a 9k handbag would do either.

OP. You’re only young once. Except you’re not any more - sorry. So you had better buy that bag quick before it’s too late. Sounds like you can afford it and deserve it!

Blinking heck! That's one heck of a pension!

I've been a manager in civil service all my life. When I had children & went P/T I made additional contributions so got 37+ years worth of final salary pension (40 for full pension). Took my final salary pension about 3 years ago - about £12Kpa plus lump sum of £80k(ish) lump sum. Reduced hours at the same time otherwise they would reduce my salary so that I wasn't earning more with salary + pension that with salary alone. Can't properly retire until 67 when I will get a 'career average' pension in the region of £3kpa. But, with full state pension, I'll be better off than I am while currently working - especially considering I won't have travel to work costs, work clothes to pay for etc.

DH & me are happy spending the money - DCs are sorted & don't need any inheritance. Also we've worked hard all our lives, can't take the money with us & what's left over will only go on care fees.

Op says her pension income is 40k per year. After tax its a moderate income.
My current holidays are more than that as a working adult, but a pensioner on 40k a year should ptobably be looking at modest holidays. 1k can buy you a week in spain or italy easily as a single person.

My DD had planned to do this trip for her big birthday but for several reasons didn’t manage. She ended up buying a different designer bag from an outlet store and absolutely loves it - the fact that she didn’t spend £5K on one bag pleases me no end! Then again, I’ve never wanted to spend more than £150 on a handbag. I’m just not that into them.
That being said, you don’t need anyone’s permission to spend your money however you want. You’ve clearly had a high income during your working life to have such a big pension and to have paid off your mortgage as a single parent with 3 kids. Spend it as you wish!

You don’t need a partner for your trip! Go solo, and buy your Chanel bag

Yes 🙌 exactly what I thought !!

High chance that by the time you go to buy it you won't actually want it anymore, you may even hold it before realising. The wait builds up, and the excitement outweighs the reality.

Ah, I see. Well, I live in London and don't have any intention of hiding away, afraid to carry a Chanel bag when I'm an 'older lady'. Also, to point out, in all the examples you've listed, only one was an 'older lady'? Seems like there's risk at any age.

Op you should absolutely do the trip and go and buy your bag.
You deserve it after single handedly raising three children and working to provide for them.

£40k per annum is an excellent pension!

Make sure the bag is insured before you leave the shop. Thieves will watch people coming and going.