Realized I’m over saving.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Do you have kids? If you end up having kids, that won’t be that much money if you plan to pay for college, sports and other activities, childcare, travel etc.

529s are all fully funded. I dropped 5k into each and letting it compound on SP500

That doesn’t sound fully funded. Do you have kids? It really doesn’t sounds like that much money if you have kids. It’s not bad, but I wouldn’t be overwealmed with wealth with those numbers and children.

[Anonymous]

^sorry I meant to write 50k. I think I’m good. I’m not gonna have them do horseback riding or stuff like travel sports. More simple hobbies like hiking and hunting in public land

[Anonymous]

Anonymous wrote:

Anonymous wrote:Get a boat or a plane and you'll be rid of this problem in no time.

Im a saver, not a consumer. Consuming is for the sheep. Do people just undo all their progress by buying things they don’t need?

No, they just strategically loosen the purse strings to enjoy life a little. If there's nothing you enjoy enough to spend money on, your kids and grandkids can spend it for you instead.

[Anonymous]

You may want to stop working at 42. Keep saving and stop counting chickens until they hatch.
Work? There's always part time work and volunteering. It doesn't have to be 40 hours a week or nothing.
I went part time at 35 and 2 days a week, minus 3 months off, from now until 70.

[Anonymous]

We are at that point, having been savers our entire lives and are at the other end. One of us stopped working, the other still works a passion job. We are traveling more, we did spruce up the house a little bit (paint and throw pillows level of spending), our kids are launched. We visit them in different states, try to do at least one, international trip and a couple of national vacations each year. I understand it is a high class problem to have, but spending, instead of saving, is a hard switch to make when you've been doing one for nearly 40 years

[Anonymous]

You are young and you may live a very long time in retirement. You will probably need all that money and more if you live till your 90s.

Research how much a million dollars was worth 60 years ago and then think about how much it may be worth 60 years from now. You might decide you need to keep saving and investing to have enough to fund a good retirement.

[Anonymous]

Why oh why are you borrowing worry? Just live your life and save what you save and let the future come.

[Anonymous]

Is that $4M in your 40s adjusted for inflation?

[Anonymous]

Can I have 35K to help pay my mom’s mortgage?

Ps you can do whatever you want and I’ll work two jobs to help my mom pay her bills.

[Anonymous]

You've done well to accumulate your savings and equity already in your early 30s. While I am more optimistic than not, I would not bet on the growth in investments in the next 12 or so years to be as neat and predictable as you might think. You also are not factoring in the high costs of raising and educating children.

My suggestion is to not think about this, continue what you're doing and then reassess when you are 45. Keep in mind that ability to go part time is highly dependent on what kind of work you do, many high paying / high aptitude occupations don't lend themselves to part time work easily, although others do. So you may not find it easy to find something that engages you that also isn't a full time high paying role. And, of course, is the health insurance question. That alone justifies working.

I'm 46, I work full time, I do the home maintenance and family stuff, I'm pretty busy, but I can't fathom not working or not doing something full time. I don't doubt I'd change my tune in 10 years but not today. I'd be bored. And volunteering gigs aren't for me. Many are scammy.

[Anonymous]

You never know if you’ll get fired, sick, divorced, have a sick child, etc. Don’t count your chickens, etc.

[Anonymous]

Anonymous wrote:^sorry I meant to write 50k. I think I’m good. I’m not gonna have them do horseback riding or stuff like travel sports. More simple hobbies like hiking and hunting in public land

Where do you live that “hiking and hunting in public land” are extracurricular activities that kids participate in to the exclusion of things like sports- or say, music, art, theatre, dance, debate, robotics, or a plethora of other activities that, yes, cost money. If your kids want to go to good colleges, they’ll need more activities than just hiking and hunting.

[Anonymous]

You also would need health insurance so it might be wise to keep a job that offers that. I think the beauty of your situation is that you can take a less stressful, lower paying job at 45 and enjoy it. Having a job gives purpose and maybe one of you stops to stay home and take care of the kids and the other picks their dream job and does that.

[Anonymous]

We have $6M invested at 45. Excluding our home (a few years left at a low rate) and excluding 529s and cash/cd ladders/emergency fund. We know it’s enough. But we haven’t quit. Youngest going into 10th grade. I don’t know - we aren’t sure what to do next. We don’t want to actually quit working just maybe quit these jobs. But change is hard and scary.

[Anonymous]

I would not assume anything at this point. Keep working, keep saving and investing. There is no guarantee you will achieve the same returns over the next 10 years as the markets have experienced over the last decades, especially the last few years. We could have a crash and then stay flat. I read this morning that only 20 stocks on the SP500 have had this kind of growth. And I wouldn't short change my kids so that I could retire at 45, especially since you don't have to.