Reply to How much do you save as a percentage of your income?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

However, frankly, [b]I think our savings is excessive[/b]. The only reason it is so high right now is we were chucking at the house and that dropped off a few months ago. We need to make some decisions and meet with an advisor on how to proceed. I would like to spend maybe $20k a year on lifestyle increases (better/more frequent vacations, outsourcing some things, desired but not necessary home improvements), and maybe invest the other $50k.[/quote]

There is no such thing as "excessive savings."  Saving now (while you are still meeting your needs) = freedom and peace later.  You can never be too free or too secure/peaceful.

Being happy with a less than luxurious lifestyle is the easiest way to being financially secure.  Just like getting rid of clutter (where you live) is the cheapest way to a "bigger" house.  [/quote]

Disagree. When you are making a consistent, good income and you are denying yourself things you would enjoy, when you are already saving enough money to support you later, is excessive. There is such a thing as money hoarding, and it does ugly things to people. You need a balance of saving, spending, and giving. [/quote]

I don't have a problem with spending money on things you think you need or want and therefore saving less as a result.... but the assessment of what you want/need drives how much you spend... and therefore what you save.

The way it was phrased -- with an assessment that the savings was too much and therefore more spending should be done == that's what I have an issue with.  Maybe PP didn't mean it that way.   "Excessive savings" is like "excessive good luck" -- it just can't be too much.  It IS possible, IMO, to have insufficient spending (be it for things one needs or simply for life enjoyment).  Some people are too frugal -- but it's not that the saving is excessive, it's that the expenditures are too few![/quote]

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