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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Im in a peculiar position. Wife and I have roughly 1M in investments excluding home equity. We are early 30s. We are on track to reach 4M by the time I’m 45. We would have enough to stop working by age 42 or so (ie pay mortgage, essentials, travel, and some specific splurges). We still need to keep saving the way we are now for 5 more years at least but I see the snowball forming and it’s intimidating.

What will I do at age 45 when we have all that money in the bank? Do people stop working? I don’t necessarily want to get a bigger house or buy a Ferrari or stuff like that. Just thinking about the “not having to work” is nuts.

What have yall that are in a similar situation done? Gone part time? Spend more time with family?[/quote]

4m is oversaving? Work to get to 10 by 50[/quote]

I was going to say something similar… we are tracking towards $25-30M by 50 without any windfalls, just living substantially below our means while working high paying jobs like the earlier PP.  [/quote]

Nobody is impressed that people with high incomes can save a lot of money.[/quote]

But plenty who are High earning do not manage to save.  Instead they live above their means (or utilizing 95%+ for daily living) and have shockingly little to show for it.  Whereas we owned our first home outright by age 40, and paid cash for cars starting at age 30.  Still lived nicely but focused on saving so that now in our 50s, we are retired, and can basically do whatever we want.  However, many friends on a similar path still have to work because they need to (know one specifically who doesn't Own their home, is trying to cash flow medical school for a kid who has wanted to be a doctor since toddler age, and is in debt for the house, and much more---despite making similar to us).

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The pressure to keep up with everyone at these income levels is very real. It takes a special mindset to accept being treated as if you’re financially struggling by friends and family because you live modestly.[/quote]

Well we have never caved to "trying to impress others".  We both grew up LMC/MC, graduated college with debt and worked hard to quickly pay it off and then live moderately while we saved.  Then we saved immediately for college once kids arrived, because we knew they wouldn't get financial aid.  Once it became apparent they might want graduate school, we saved for that as well (although not all in 529 in case they don't use it for school).  And yes, most of our friends likely thought we have much less than we actually have.  We don't care.  What we care about is that we lived well within our means and fiscally sound.

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