I've always been financially conservative. At this point, I would label myself risk-averse. If I make a serious error, I don't have the time to wait for the recovery. I'm too old to be poor. Fortunately, my only vice is shooting.
Stock Market
- Thread starter pmclaine
- Start date
Im finding it hard to find the balance between doing/enjoying things now and work all the time/saving. Like I literally haven’t done much of anything for 5 years now trying to save and invest as much as I can. I’ve always been super financially conservative and thats all great and everything but I also feel like I need to back off some and start enjoying things. If y’all got any advice for a guy in his mid 40’s on how to balance all these things, I’m all ears. It’s not easy when you got bills, aspirations, kids, college, weddings to save for and on and on and on.
You do the best that you can. Save what you can. Don't fret about it. Improve your career and income when the opportunity presents itself. Don't get caught up in the materialistic things that you don't have. Everyone has bills, aspirations, and the other things you mention. Keep things in balance...enjoy your life.
The one thing that I would do over again if I were young is to spend more time with friends and family and enjoy their company. I spent too much time climbing the corporate ladder and missed out on a lot.
That's the only advice I can offer that is worth a damn.
It’s hard to make up for lost time in the market. You have to figure out your goals and proceed from there. You either have enough to do all of it, or you don’t. If you don’t, then you have to look at your priorities.
I wish I had an answer for you, but I will say that you’ll never be able to buy time or missed experiences back. My friend’s dad had great plans for retirement, but he died at 55 and did none of those plans. That has always stuck with me.
Thank you! Very solid advice. Definitely trying the best I can but feel like I’m failing in some capacity every day. There is always room for Improvement.
Might see my $464 on SPY! After that it would be cool to hit the $370-$385 are. That’ll take it back to where it was when Joe dipshit stole the election.
Nobody can answer you, really, without knowing how much you have invested, your income and savings ratio, and, most importantly, your goals for the savings. Spending levels, etc.
It may be that you can back off. Or it might be that you are behind and need to save more.
If I could make a suggestion, it would be to go over the Mr. Money Mustache forum and read some of the case studies. It will give you a good idea of what some others are doing, and suggestions folks have for improvement or relaxing.
I would also encourage you to read this article.
The Shockingly Simple Math Behind Early Retirement
This is the blog post that shows you how to be wealthy enough to retire in ten years. Here at Mr. Money Mustache, we talk about all sorts of fancy stuff like investment fundamentals, lifestyle chan…
www.mrmoneymustache.com
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