So You Want To Buy A New Bicycle… But You’re Worried About Retirement

Recently I wrote about how “later” is the most expensive word in personal finance. 

Today I want to talk about the opposite problem. 

Because some of you don’t struggle with saving. 

You struggle with spending. 

Spending is a skill 

And lots of people were never taught how to do it. 

I work with high-achieving professionals who have been saving for 20 or 30 years. 

First it’s: 
“We need to save for a house.” 

Then: 
“We need to renovate.” 

Then: 
“We need to save for the kids.” 

Then: 

“We need more… just in case.” 

At some point, responsibility turns into fear. 

You get so used to accumulating that you forget why you started. 

Money was supposed to create freedom.

Instead, it becomes something you protect at all costs. 

No one teaches people how to spend intentionally. 

So they build portfolios and feel guilty booking the trip. 

They hit milestones and hesitate to upgrade their life. 

They accumulate and never fully enjoy it. 

Spending needs structure too. 

What most people misunderstand 

Confidence in spending doesn’t come from having more money. 

It comes from knowing your numbers. 

When we build a plan, we don’t just calculate retirement. 

We calculate what’s safe to enjoy now. 

A simple framework I often use: 

• 10–20% of gross income toward long-term investing (including pensions and matching)

• Fixed costs ideally under 50–60% of take-home

• The remainder divided between lifestyle and short-term goals 

You need a defined category for enjoyment. 

I call it a Live Well Fund. 

This isn’t emergencies. 
This isn’t retirement. 

This is money allocated to living. 

Travel. 
Experiences. 
Upgrades. 
Things that improve your life now. 

Here’s what that looked like for me recently:

I had been putting off buying a new bicycle for a while.

If I wanted a decent one, I knew it was going to cost a pretty penny.

When I finally pulled the trigger, I realized how much value it actually added to my life.

Health. Time outside. Movement.

Something social with friends, or something I can do on my own with a podcast or audiobook.

The benefits are pretty significant.

And yet, I still hesitated.

Because I’m so used to practicing what I preach when it comes to saving and investing.

But part of that also means recognizing when it’s okay to spend.

When you’ve thought it through, saved for it, and intentionally allocated the money, it’s no longer an impulsive purchase.

It’s aligned with the life you’re building.

What this looks like on $10,000 per month gross 

If someone earns $10,000 per month gross ($120,000 per year), here’s how this could look with intention. 

First, long-term investing. 

10–20% toward retirement and long-term wealth building. 

Let’s use 15%. 

$1,500 per month goes toward RRSP, TFSA, employer match, pension, etc. 

That’s the future handled. 

After tax, that likely leaves roughly $7,000–$7,500 per month (depending on province and deductions). 

Now the lifestyle structure depends heavily on whether there are kids involved. 

Scenario 1: No Kids 

Without childcare and kid-related costs, fixed expenses may land closer to 45–55% of take-home. 

That’s roughly $3,200–$4,000. 

That leaves $3,000–$4,000 of margin. 

From there, you could intentionally divide: 

• $1,000 → Short-term goals (travel, home upgrades, car fund) 

• $1,000–$1,500 → Live Well Fund 

• Remaining → Accelerated investing or flexibility buffer 

In this scenario, wealth building can move faster and lifestyle flexibility is higher. 

Scenario 2: With Kids 

Now let’s assume daycare, activities, increased groceries, clothing, and larger housing costs. 

Fixed expenses can easily sit at 60–70% of take-home. 

That’s $4,500–$5,200. 

Now the margin might be closer to $1,500–$2,000. 

From there: 

• $500–$800 → Short-term goals 

• $500–$800 → Live Well Fund 

• Remaining → Buffer 

The Live Well Fund may be smaller during high-expense seasons. 

But it shouldn’t disappear. 

Even $500/month intentionally allocated toward experiences changes the psychology. 

Because it’s planned and not impulsive.  

Why most savers feel guilty 

If you don’t know: 

• Your retirement projection

• Your safe withdrawal rate

• Your long-term savings targets

• Your margin 

Then every dollar spent feels like you might be stealing from your future. 

So you hesitate. 

You over-save. 

You delay. 

But when you have a clear plan, you know: 

This trip does not derail retirement. 

This upgrade does not ruin the plan. 

This experience fits within the structure. 

The point of money isn’t to hoard it. 

It’s to build a life that feels good today and secure tomorrow. 

Save well. 
Invest properly. 

But also learn how to use your money in a way that reflects the life you’re building.

Otherwise, you’ll become excellent at protecting money and inexperienced at enjoying it. 

If this sounds like you and you need clarity around what’s coming into your account, what’s going out, and what you actually have to work with, book a call with me below.