Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
They say that the richer man is the man that lived a full life of adventure and experiences. I know several people like this--and they seem the happiest (although, I don't know for sure if they really are happy--but they SEEM to be). They are able not to worry about the future and basically kicked the worry habit. They believe that if no one gets out of this life alive, why live a life of security? They say that, sure, the safe man may be able to live secure in the corner somewhere and take cruise trips once in a while, but what a way to live! After all, you can't take your money with you.
I know this is the age old philosophical question about the true meaning of life...but I have to admit it's very attractive to someone like me that has been saving for retirement (I'm 32). Although I do have the funds to travel and do things of "adventure", what I lack is time. I can't seem to buy time, but I can always make more money. One way I can possibly alleviate this issue is by starting my own business again....but when I did this in my 20s, I had practically ZERO time off and it's a lot of hard work. I would work harder than I would work now at my current job. I don't even have a family, so I can't just imagine how it is with kids. Perhaps I need to find another job that would give me higher job satisfaction, but the current one pays me so well and offers a retirement package that is out of this world--the issue is I can't retire until I'm in my early 60s if I want to have millions in the bank. But, will I be healthy then? Will the stock market still average 7-10% in return? My family suffers from heart disease, what's my outlook?
Any wise men (and women) have advice for me? As CS Lewis once said, I just "feel like I was made for another world."
They say that the richer man is the man that lived a full life of adventure and experiences. I know several people like this--and they seem the happiest (although, I don't know for sure if they really are happy--but they SEEM to be). They are able not to worry about the future and basically kicked the worry habit. They believe that if no one gets out of this life alive, why live a life of security? They say that, sure, the safe man may be able to live secure in the corner somewhere and take cruise trips once in a while, but what a way to live! After all, you can't take your money with you.
I know this is the age old philosophical question about the true meaning of life...but I have to admit it's very attractive to someone like me that has been saving for retirement (I'm 32). Although I do have the funds to travel and do things of "adventure", what I lack is time. I can't seem to buy time, but I can always make more money. One way I can possibly alleviate this issue is by starting my own business again....but when I did this in my 20s, I had practically ZERO time off and it's a lot of hard work. I would work harder than I would work now at my current job. I don't even have a family, so I can't just imagine how it is with kids. Perhaps I need to find another job that would give me higher job satisfaction, but the current one pays me so well and offers a retirement package that is out of this world--the issue is I can't retire until I'm in my early 60s if I want to have millions in the bank. But, will I be healthy then? Will the stock market still average 7-10% in return? My family suffers from heart disease, what's my outlook?
Any wise men (and women) have advice for me? As CS Lewis once said, I just "feel like I was made for another world."
Life is a series of choices and be thankful you have done the things to have such good ones. Many others haven't and don't. So that leaves you with your original question and what are the right choices. Since you know nothing about us value what we say as nothing because you have no idea if we are really making our own right choices.
Take really good care of yourself, make nutrition and exercise an integral part of your life, and there is no reason you shouldn't be in great health in your 60's and beyond.
I think one can live a life of adventure and still save money, be it for retirement or whatever. The main problem I see with folks who are totally non-savers are that they constantly spend money in every part of their life. For the three meals a day, they maybe eat at home seven times. Never bring their lunch to work. When they do eat out, it is always a $7-$10ish meal, and they have no problem eating out a few times at very costly places. Then you add the alcohol in, and that just means more money. Then you look at their hobbies. Lots of mini-road trips that aren't costly themselves, but it adds up. Then you toss in beach vacations to middle of the pack exotic areas. Places where one can drive to from here never happens. It is always flying to Mexcio, in fact, even with some mini-vacations, it is paying to fly vs. driving for ten or so hours. Then some have other hobbies, from constantly buying a firearm, then wanting someone else so they sell that firearm for a loss. Ammo costs a lot now, and they have no problem putting hundreds or thousands of rounds down range in a given year. I know a guy that was into entry level auto racing. You gotta have a large truck, a trailer, a 4-wheeler to push the car to get it going, and the car and engine itself. It is one of the most costly hobbies I've ever seen, and only a very slim few ever make it into a money making endeavor. Most folks do it for the fun/thrill, and we are talking thousands of dollars a year for just that one part of their life.
My advice is to pick one thing and spend your money on that. If it is traveling, then eat most meals at home, don't go out every single weekend, both Friday and Sat night and drop $30-$100 just because one can. Don't shop at the most costly stores for clothing and household goods. Don't worry about constantly changing the home and dropping thousands at Home Depot or Lowes every year.
That's what were doing. We fully understand we won't have some 2.8mil by retirement or more. I mean it could happen, all depends on what jobs we have by retirement. We will save half for retirement or other type of savings and blow the rest to have a fun life right now.
Sure we won't be the richest retirement couple out there, but we won't be the poorest and were fine with that.
I agree with choosing one thing you want to splurge on and not deviate from that. For me it was buying a (used) BMW Z4. Inline 6 2.5L and zippy little thing. SO many great memories with that car... RIP.
I also like traveling. So at first I didn't save enough but I eventually saved a years salary by the time I was 30.
So it is possible, you just don't need to eat at the most expensive restaurants, most trendy apartments, etc. Focus on what you like, and be frugal about other things. Also bonus for getting into free stuff. Like hiking! Or bike riding, etc.
At the end of your life, you won't have any money, only memories. With that being said, you still need money during life, so don't spend everything on traveling and adventure. As long as you have enough for retirement and emergency reserves, travel and have fun. Your children will make their own money, you can always leave them your house and they can sell it if they are cash strapped.
That's what were doing. We fully understand we won't have some 2.8mil by retirement or more. I mean it could happen, all depends on what jobs we have by retirement. We will save half for retirement or other type of savings and blow the rest to have a fun life right now.
Sure we won't be the richest retirement couple out there, but we won't be the poorest and were fine with that.
I think it's impressive you're putting away half your take home (after tax?). I've been able to do that on some of my overseas assignments, but it's a lot harder here in the US.
I think it's impressive you're putting away half your take home (after tax?). I've been able to do that on some of my overseas assignments, but it's a lot harder here in the US.
Sorry. I wish. I meant after bills we might have $400 or so a month of complete discretionary income.
We would save half and blow the rest. Were young though and have "okay" paying jobs. Not bad at all, but not 50k a year job. Its a start. There's a guy in the personal finance forum who has 4k a month he could save. He is 30. If he and his partner saved till 65 only saving 2k that is 840k let alone it working for you.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
