After four decades of relentless frugality that grew his portfolio to $3 million, 63-year-old Scott Scovel finally retired—and immediately struggled to spend a single dollar.
Now he does something radical: he pays himself a $50,000 “fun salary” every year, a dedicated “war-chest” purely for experiences while he’s still fit. Safari in Kenya, invisible hearing aids, surprising his girlfriend with a new dishwasher—anything that sparks joy gets funded without guilt. Leftover money at year-end? He calls it “lost happiness,” not savings.
Retired Millionaire
“Compound interest gave me millions,” Scovel says, “but a classmate’s death at 59 taught me time is the only asset that doesn’t compound.”
His advice to fellow savers: automate your monthly “paycheck,” create a separate blow-that-dough fun bucket, and remember the goal was never the balance—it was the life you deferred. “Start spending on memories while you can still make them.”
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