You’ve worked, saved and built a good nest egg: Yes, it’s OK to buy the shoes
At a recent meeting with friends (who happen to be clients of our firm), the wife asked me if she should buy some expensive shoes. This couple works hard and has a good income. They are excellent savers, putting away at least 30% of their income into retirement funds and after-tax accounts. They drive nice cars and have a beautiful home — all affordable to them.
So, why the question about a pair of shoes?
We see this segmentation of how people think about how they spend money frequently. Certain items (a nicer car, or perhaps nicer clothes) seem more like reasonable necessities, New Nike Sneakers while other items (a better cabin on a cruise vacation, or nice shoes) seem like a possibly unnecessary luxury.
We get many questions about budgeting and what is reasonable to save instead o...



