[‎‎‎‎‎‎‎‎‎USER]

People always say save more, Max out this and that. But does anyone ever say that’s enough, I’ll spend my money elsewhere? I want to find a good balance of saving and enjoying now.

My current 401k is $200k, around 60 the projected value is $2M in today’s value.

At 4% withdrawal that gives me $80k/year which is about what I’m making now and I would have a paid off house/no daycare costs/etc. I don’t plan to live an extravagant life.

I’d like to travel once a year. Visit family more. Is there any reason to deprive myself of things now when it looks like I’m in a good spot?

This also doesn’t take into account my husband’s 401k. I do plan to increase my contributions in the future but I don’t think I’ll ever get to a spot where I max out my 401k, nor do I think I want to do that. Who knows if I will make it to retirement.

(Note: I think I might be having an existential crisis on what is my purpose lately)

[Ben]

Can’t comment on what you should do to be happy, but do know if you’re saying $80k in todays dollars, if you’re not retiring for 20-30 years the real value of that could be more like $40k then.

[Boni]

Same. My husband and I (50&51) have a little over $200k in retirement and I just pulled back on investing and extra house payments last month.

I’m tired and no one is promised tomorrow.

We’re switching gears and getting a nice truck and camper and going to enjoy the good life while we still can.

We own a business that will continue to provide income after I retire from my other job, we have a rental house, our house will be paid for soon, and I’m certainly not counting on it nor hoping for it but I will likely have an inheritance.

Time to enjoy life.

[Tiffany]

I feel this. Daily I work towards reminding myself that (call it what you want) but that batista fire and coast fire is awesome. I will never be 38, 40, 42 etc again.

There’s no way some of the experiences I did 10 years ago I’d want to do now.

I’m probably about to drop $3500 for a few days of 4×4 travel to remote experience in Bolivia to photograph jaguars.

I live comfortably do, do the things that matter to me, and I continue to make choices to live comfortably later too.

I constantly try to remind myself my enough is allowing me to enjoy now too…I have set myself up for this success.

I totally get it tho…it’s so easy to think it’s never enough.

[Megan]

Watch some Ramit rich life episodes he’s good with this stuff about this.

Money Guys call it avoiding a ‘financial miser’

[Jule]

Part of what you are missing is that you don’t know what the future might bring where you might need to be able work for a period of time or leave your job earlier than anticipated due to life circumstances like illness, disability, family care, layoff facing agism, etc.

so you can never count on what it could be until you get there because you don’t know what could happen between now and then.

You can and should enjoy your life while also prioritizing your financial well being. It’s not fun to be old and broke.

Trust me, I see it with my in-laws and I am doing everything I can to not be in that position in old age when health care expenses and inflation would take a good chunk of your projected retirement savings.

[Anna]

The point of FIRE is not to completely deprive yourself of enjoyment of life. Yes, in the FIRE community it is believed by most to balance.

Obviously save as much as you can but you also need to budget in there some fun, travel and whatever else you enjoy.

[Sharon]

Personally, I wouldn’t be happy with 80k…it’s surprising how much more time you have to spend money in retirement.

I also would trade less now for earlier retirement. However, it doesnt mean I would live as a pauper now.

It’s a balance.

Don’t forget tax costs are also in that 4% calculation.

[Matthew]

The financial goal should be whatever you think you’ll want. As long as you make that goal then spend the rest on whatever else.

If you need to wait decades though, then you’d best ensure you can last that long without compromising that goal.

That usually means add some cushion above you think you’ll need.

[Mitchell]

You didn’t mention how old you are now—that makes a pretty big difference. I saved early on and I’m glad I did because I can’t imagine working until I’m 65 and I love what I do for a living.

I am so glad I stashed more money away while also enjoying life because my friends have had to go through layoffs, supporting their husbands either not making a lot of money or being unemployed, and I’m living comfortably regardless.

Find the balance without depriving yourself, but I’ve never once regretted saving the money I have

[Mitchell]

Yes. But after crunching the numbers we realized that saving an extra 10k a year wouldn’t really change anything.

We’re trusting the math.

[Author]

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