Reply to Why are people obsessed with putting $$ in retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How old are you OP?  How long have you been working?[/quote]
I'm guessing a millenial with no sense of forward thinking.[/quote]

I'm an older millennial (born 85) who frankly, has been overly aggressive with saving. HHI for the last 5 years, while married, has ranged between $125K - $230K. We've got $600K in retirement, $100K in other investments, and $300K in home equity. No large gifts or inheritances.

That's a lot in a relatively short period of time. I lived extremely frugally for a long time. And that's a good thing, we have so many options. The time factor of compounding interest is unreal.

However, I will say - being so tight with the purse strings has made it hard to relax and enjoy some of it too. Those habits are extremely hard to break and can cause anxiety and a lack of balance when all you do is stockpile money. We were at over a 60% savings rate for quite awhile.

We actually hired a fee-only financial adviser about a year ago, and it was one of the best things we've done. Yes, we could do the math and pick the mutual funds, but 1 -- we hated it and avoided it and 2-- the adviser has given us SO much more peace of mind that we're on track, encourages us to balance spending now, is an "expert" voice telling us what is normal/reasonable for our lifestyle, etc.

I'd rather err on the side of saving too much than saving too little, but don't be fooled - there are downsides to saving too much, and a big one is becoming neurotic and miserly about it. [/quote]

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