Retiree Says Decades of Frugal Saving Cost Her Friendships and Travel Years

Agnes P., a retiree in her 80s, says the money she saved over decades of aggressive frugality came at a steep personal cost, according to GoBankingRates. She skipped vacations, Broadway shows and dinners with friends throughout her working life to maximize her retirement accounts, and now has more savings than she expects to spend. "I was so focused on saving that I forgot to actually live," she said.

Agnes said declining invitations repeatedly eventually cost her friendships: "I lost touch with a lot of people because I always said no. Now I'm retired with fewer friends and not many good times to look back on." She also said she waited too long to travel, and health issues now limit what she can do with the time and money she has. "I wish I'd taken some big trips when I first retired and had more energy," she said. "Now even short outings take it out of me."

Agnes said she never checked in with a financial advisor to see whether she was saving beyond what she needed. "An expert could have told me I was saving too much," she said. "They might have encouraged me to loosen up and enjoy life more along the way."