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At what point does focusing on your finances/ER become counter-productive?
06-18-2007, 09:09 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,203
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At what point does focusing on your finances/ER become counter-productive?
I seem to go in cycles. For a few months at a time, I just roll with the punches...and stick with my somewhat automated financial strategies. But then for months at a time, I am constantly thinking about my finances, investments, savings, ER goals, my current businesses' success, new possible income streams, etc. CONSTANTLY. Obsessing you might call it. I'm on the internet, often at this site, all day and night... usually until 3 in the morning.
After a few months though, I get so fed up with myself, the numbers and even the strain on my brain, that I just let it go.
Then the cycle continues
I cant see how this culd be healthy for me....and I know it's all mental....but I'm having a tough time finding the right balance of caring enough but not too much.
Does anyone else struggle with this?
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06-18-2007, 09:10 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,203
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Come on guys. Is it something I said? Its been 18 seconds and nobody has replied....
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06-18-2007, 09:11 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,203
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guys gals?
anyone
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06-18-2007, 09:12 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
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Simple answer --- when you start a thread asking if it's counterproductive. Been through it bro. Just live your life, progress your career and save. The rest is out of your hands.
__________________
"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
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06-18-2007, 09:42 PM
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#5
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Recycles dryer sheets
Join Date: Apr 2005
Posts: 415
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Have to admit, that I've done that also. Having watched benefited from watching the dialogue that has occurred for many months, I've allowed myself to drift off to other topics, and not run the spreadsheets so much. It's also helped, in that I finally put a lot of the anticipated results into continually updating graphs, so that as I make a change, it's reflected in the graph. Somehow looking at a graph and observing that most of the changes that I make, don't cause major changes in the lines moving around, has allowed me to obsess less about each little point. Guess it's the trees and forest thing. Anyway, you might try that, if you haven't already, and see if that helps you get to sleep earlier.
__________________
Mens ability to see the future is limited by their horizons of today!
Unknown!
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06-18-2007, 09:48 PM
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#6
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Recycles dryer sheets
Join Date: Jul 2005
Posts: 423
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This is your life and it's ending one minute at a time.
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06-18-2007, 10:06 PM
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#7
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Recycles dryer sheets
Join Date: Jan 2007
Posts: 222
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Yes, I've definitely been there. It gets to a point where there's really nothing else to do/calculate/tweak, etc., so then I start on the fantasy scenarios: "ok, what if I suddently inherit $50k? How would I invest it?? How would that affect my retirement??"
And then I leave it behind for a while, and surprisingly, the world doesn't fall apart. You'd be amazed how upbeat the financial news is when you're not reading it.
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06-19-2007, 01:53 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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Quote:
Originally Posted by thefed
I seem to go in cycles. For a few months at a time, I just roll with the punches...and stick with my somewhat automated financial strategies. But then for months at a time, I am constantly thinking about my finances, investments, savings, ER goals, my current businesses' success, new possible income streams, etc. CONSTANTLY. Obsessing you might call it. I'm on the internet, often at this site, all day and night... usually until 3 in the morning.
After a few months though, I get so fed up with myself, the numbers and even the strain on my brain, that I just let it go.
Then the cycle continues
I cant see how this culd be healthy for me....and I know it's all mental....but I'm having a tough time finding the right balance of caring enough but not too much.
Does anyone else struggle with this?
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Jion the Club!
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06-19-2007, 06:10 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,203
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06-19-2007, 06:28 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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I invest for a living, so it is hard to let it go.
The discipline I stick to is that I will pay close attention to my investments (actively managed), but I don't track progress towards FIRE except twice a year. I have a simplistic spreadsheet that I update in January (after bonus time) and some time in the summer (July/August). I save each update so I can see how far I have come, but that's it.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
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06-19-2007, 06:35 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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I get a lot of joy and satisfaction out of my ER planning. I have broken down my big goals into smaller sub-goals (such as monthly expenses), and it is exhilarating to find out that I have saved more in a given month than I had planned, or that my 401K has appreciated/grown at a faster rate than I had originally assumed.
Sometimes I do wonder what I will do for fun after ER, other than plan for ER!! In fact, earlier this week I mentioned RPGs to Frank, who thought only of Rocket Propelled Grenades. Poor guy doesn't know what he is missing. I explained them to him, and how much fun I think they are.
Then it occurred to me that playing RPG's is something I love to do, but has been displaced by ER planning and the demands of working life - - so guess where I have been lately, after work? Off playing an old PC RPG that I never finished (Icewind Dale), and having a blast!!! I still come here every day and post, but for a brief time I have added a little more balance in my life.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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06-19-2007, 07:16 AM
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#12
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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What are RPG's ?
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06-19-2007, 07:39 AM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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You poor, deprived person!
RPG's are Role Playing Games. They are computer games similar to Dungeons and Dragons. In these games you choose the characters' attributes, names, appearance, and often even clothing. Then you fight monsters and when they die, you get their weapons, armor, money, and other loot. You can go to stores and buy fancier weapons and armor, wands, spells, potions, and such (love the shopping!), and then you can fight stronger monsters. Usually there is a lot of magic and lore associated with the game, and the fantasy lands in which you fight have an entire history that is woven throughout the game. There are often books that your character might find, that explain the history and lore and reading them is fascinating and helpful in figuring out what you need to know in order to reach the ultimate goal. Your characters are good, evil, lawful, chaotic, or whatever, and the way in which you approach problems usually reflects that. A good mage can cast spells that do more for you than the strongest longsword. All of this is on the computer.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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06-19-2007, 07:42 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 4,391
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Quote:
Originally Posted by Want2retire
RPG's are Role Playing Games. They are computer games similar to Dungeons and Dragons. In these games you choose the characters' attributes, names, appearance, and often even clothing. Then you fight monsters and when they die, you get their weapons, armor, money, and other loot. You can go to stores and buy fancier weapons and armor, wands, spells, potions, and such (love the shopping!), and then you can fight stronger monsters. Usually there is a lot of magic and lore associated with the game, and the fantasy lands in which you fight have an entire history that is woven throughout the game.
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We have a similar role playing game where I work, except we call them design Reviews and performance evaluations. Other than that they are very very similar to what you have described.
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06-19-2007, 07:50 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 1,015
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06-19-2007, 07:53 AM
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#16
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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I've played a lot of Role Playing Games .I've just always called it dating !
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06-19-2007, 07:57 AM
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#17
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Moderator Emeritus
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
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Big difference between following your investments regularly and learning about retirement planning on the one hand, versus obsessing over them, tweaking needlessly, and getting on the emotional roller coaster each time something changes on the other.
I do follow my returns and balances with interest, maybe once or twice a week. I've never really worried too much about them other than wishing I had more .
Funny thing is, my worry level went down considerably when I switched from an advisor to doing it on my own.
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.
As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
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06-19-2007, 08:06 AM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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I'd love to have an elfin mage by my side at work! Imagine what could be done with just a wave of his wand, with a cryptic incantation or two.
Then we could all go on vacation.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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06-19-2007, 08:17 AM
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#19
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Full time employment: Posting here.
Join Date: Mar 2007
Posts: 577
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Well you're asking the question and you can explain the symptoms so the good news is sounds like you are still in charge of you.
Look at your plan, make sure the risk tolerance is comfortable for you and then just feed the thing.
Remember the old Chevy commercial "getting there is half the fun" the most financially successful person I know says "getting there is all the fun".
Go play with your son. I assume that is a big motivation to retire early so you can do what you want when you want, so do it now.
I hardly qualify as a new ager but DW and I have taken yoga class at the Y anything I can do to get in the moment (rather than future worries etc.). Meditation can be as easy as a focused eight count. When your feeling unusually tense.
Of course if none of the above is helpful just go with aging. I was a very tense 20 & 30 year old (much like you're decribing) at least with finance and at 44 seem to have mellowed out.
__________________
I highjacked a rainbow and crashed into a pot of gold - Bon Jovi
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06-19-2007, 08:34 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 1,053
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I had a period where I obsessed, when I was first setting up my retirement spreadsheet. Then, once I decided I was comfortable with it, I decided not to look at it too often. Once every few months gives me a sense of where I wanted to be at the end of each year, to see how I'm doing.
I set up everything to be automatic, so that I don't have to obsess too often. Savings are taken out every paycheck and moved to the right accounts. I update my investments on a monthly basis, and probably take a peak once a week or so. I don't look on days the market is down.
I guess now that my goals are set up, I feel comfortable letting it happen. That doesn't mean that I don't visit these boards everyday, or get excited when a friend needs a place to live for a few months because it means extra money that can go right to savings....
Karen - with temporary roommate.
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