Saving too much?

[Anonymous]

For the PP who asked what goals we are meeting. We plan to retire at 60 and can live till 100 without SS and at 85% of our current salary. We will be able to fund 4 years of college for each of our kids and if they choose a state school over a costly private they will have money left for grad school. Our home will be paid off early (I'm not killing myself to pay it off right away). 6 months emergency and $100k in general savings (which will continue to grow and deplete based in vacations, etc). Seperate savings account for emergency repairs (car, house, etc).

[Anonymous]

Anonymous wrote:

Anonymous wrote:Have you considered making sizaable donations to causes your passionate about or at least to organizations that help the far less fortunate than you? I 'm kind of stunned this hasn't come up.

20:38 here - what makes you think charitable donations aren't already accounted for before any "extra" comes into play? They are for me.

Ditto.

[Anonymous]

Anonymous wrote:What do you people do that you have that much saved in your early thirties?

Two lawyer household.

[Anonymous]

With a two biglaw partner household, I quit work to SAH at age 40. We realized we'd rather have sanity, a parent at home, etc etc than 2 crazy busy careers. Ten years later, a 4th child, lots of home renovations (we decided against buying the new big house because we love our old neighborhood), nice family vacations, DH is earning plenty (and still working at a the same crazy pace) and we've met all of our financial goals (DH can retire at 55 if he wants). It worked for us. To OP, I definitely suggest that you visit with a fee only financial planner.

[Anonymous]

Anonymous wrote:I'd rather die with tons of money in investments for my kids than spend more now. We spend $1,000 a month just on food/eating out/entertainment. I'm living it up already.

Yeah, your kids can get to enjoy nice cars, shopping sprees, and lavish vacations with it instead.

[Anonymous]

Or you can donate the extra $$$ to me ! I really need it and yes I also work my butt off everyday ?

[Anonymous]

Congrats, OP! Wish I was in your situation but my dh likes to splurge before we do what I think is enough saving!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'd rather die with tons of money in investments for my kids than spend more now. We spend $1,000 a month just on food/eating out/entertainment. I'm living it up already.

Yeah, your kids can get to enjoy nice cars, shopping sprees, and lavish vacations with it instead.

I'm not interested in nice cars. I have plenty of shopping sprees and lavish vacations with them, thanks.