How do you weigh investing/retirement vs. Enjoying the Present

[Saysumthinfunnymike]

I invest, not necessarily "for retirement" though that is part of it but if you have some money sitting around then of course you want to put your money to work.

But how much do you weigh investing/retirement vs. enjoying life NOW? We've all heard "could get hit by a bus tomorrow" but not even that. When you are in your 50s and 60s your body breaks down whether you want it to or not. It's going to happen. That hinders how you can enjoy your money.

 

[marleyg]

sports agent

 

[desjardins]

I pay my future self first with automated savings and investment transfers on a weekly basis
I make enough that I can treat myself regardless but even when I couldn’t I prioritized saving

 

[Givethanks]

I invest, not necessarily "for retirement" though that is part of it but if you have some money sitting around then of course you want to put your money to work.

But how much do you weigh investing/retirement vs. enjoying life NOW? We've all heard "could get hit by a bus tomorrow" but not even that. When you are in your 50s and 60s your body breaks down whether you want it to or not. It's going to happen. That hinders how you can enjoy your money.

Personally,

My guys tells me that all the time. He just got a new PC a few years ago and wants a new one already. I have friends who have cars not even 4 years old but want new ones too.

It's their lives, they can live how they want.

To me, that shyt is stupid. If you get hit by a bus you're dead and that's that.

Being old, black and broke is a scary thing. One thing that opened my eyes when I was 13 was riding the subway in Chicago and seeing this Grey old black man going to work some security job. Bro had to be in his 70s/80s, that shyt shook me.

He probably had a rough life (black people born in the 40 and earlier lives were easy harder than ours). But it legit scared me.



Only advice is to not get caught up in Vanity, that "now" is not your friend like how we think it is.

 

[Elim Garak]

It's a gamble but you need to put away for a 401k at least because even if they raise the cap on social security to fund it that won't really be enough money in retirement.

 

[RhodyRum]

I invest, not necessarily "for retirement" though that is part of it but if you have some money sitting around then of course you want to put your money to work.

But how much do you weigh investing/retirement vs. enjoying life NOW? We've all heard "could get hit by a bus tomorrow" but not even that. When you are in your 50s and 60s your body breaks down whether you want it to or not. It's going to happen. That hinders how you can enjoy your money.

I'd rather be retired with a body that's breaking down that may hinder how I can enjoy ny retirement money than being a fukking greeter at Walmart with a body that's breaking down and no retirement funds to my name.

Anyone who disagrees is a COLOSSAL dumbass who has zero ability to think past their nose.

@Givethanks, great response

 

[neph27]

32 years old, 70k/yr

130k in my 401k, current contribution is 19%. Company matches the first 6%. I think it's super important to invest and invest early. Realistically in order to retire comfortably you need 1-2m at least using a safe withdrawal rate. That number will be higher due to inflation as time goes on. People do not realize how much compound interest can help them and their family for their entire life if they just are willing to save.

If I could go back in time, I would have saved more from my early 20s. I talked dollars with one of my co-workers a few years ago, about compound interest and retirement, etc. He upped his 401k to 15%. He was 21 then.

If you can cap out a 401k and a Roth IRA each year you're golden. I don't make enough for that. But steady contributions will have me reaping the long term benefits.

 

[#BOTHSIDES]

Get money. Dave Ramsey give practical advice like saving and getting out of debt.

But definitely have financial goals and budget. Get into a career that pays at least $80k. Wait to have kids. Don’t trick on hoes. If you find a girl, find one who is frugal and/or a girl with money

I save 40-50% of my checks

 

[WetinBeDat]

I invest, not necessarily "for retirement" though that is part of it but if you have some money sitting around then of course you want to put your money to work.

But how much do you weigh investing/retirement vs. enjoying life NOW? We've all heard "could get hit by a bus tomorrow" but not even that. When you are in your 50s and 60s your body breaks down whether you want it to or not. It's going to happen. That hinders how you can enjoy your money.

So wouldn't you rather deal with that with 7 figures to your name?

 

[re'up]

It's always been something I tried really hard to balance. Once you get out of survival mode, and you can enjoy yourself, and think about travel, and also save.

Watched too many of my boys ruin themselves financially with really bad financial habits, they formed in their teens. Always spent money as quick as it came, with the expectation that they could run it up the next day, but sometimes that day didn't come. Sometimes they spent and spent anticipating the big payday that never came.

"When I come up again, when we are balling again"

also, done some cool trips in my time, spent money but was in Cannes, South of France, ate at Michelin star spots all over the world, at least across continents. Doing that at 30 is not the same as doing it at 60.

but, here's the problem with the bus ideology it's extremely unlikely that you will get hit by a bus tomorrow. If you were to bet on just surviving each day, and you put $100 on it, and doubled down EVERY time, you would have millions. so, that's very misguided.

 

[murksiderock]

I weigh this out periodically too. I've got a nice thing going, and adding more and more to the pile. I think I have good discernment on when I need to strike, though. Because while I believe that you gotta save something for when you're older, I also definitely believe in the other ethos, that you may not make it there to spend it, and it doesn't go with you when you die anyway...

So I think I have a decent handle on when I need to strike and how to balance the approach to the now, vs my future self...

 

[Neuromancer]

I'm investing for retirement.

 

[Saysumthinfunnymike]

I'd rather be retired with a body that's breaking down that may hinder how I can enjoy ny retirement money than being a fukking greeter at Walmart with a body that's breaking down and no retirement funds to my name.

Anyone who disagrees is a COLOSSAL dumbass who has zero ability to think past their nose.

@Givethanks, great response

It's not an "all or nothing" question. I don't know why some posters have to look at everything in black and white. The question is "how do you weigh it..."

 

[Saysumthinfunnymike]

So wouldn't you rather deal with that with 7 figures to your name?

Again this wasn't an "all or nothing" question. I asked how do you weigh it. I always side on investing. I'm one of the top contributors to the boiler room thread. But it's a valid question.

 

[Saysumthinfunnymike]

It's always been something I tried really hard to balance. Once you get out of survival mode, and you can enjoy yourself, and think about travel, and also save.

Watched too many of my boys ruin themselves financially with really bad financial habits, they formed in their teens. Always spent money as quick as it came, with the expectation that they could run it up the next day, but sometimes that day didn't come. Sometimes they spent and spent anticipating the big payday that never came.

"When I come up again, when we are balling again"

also, done some cool trips in my time, spent money but was in Cannes, South of France, ate at Michelin star spots all over the world, at least across continents. Doing that at 30 is not the same as doing it at 60.

but, here's the problem with the bus ideology it's extremely unlikely that you will get hit by a bus tomorrow. If you were to bet on just surviving each day, and you put $100 on it, and doubled down EVERY time, you would have millions. so, that's very misguided.

This is the best answer so far. If you aren't at least enjoying life in your 30s to some extent you are doing it wrong. That's my opinion.