What is the purpose of savings and assets?

[imoldernu]

What Ha said +1
Peace

 

[Jay_Gatsby]

LOL! I often felt like this...but as the stash is growing over time, I've found myself to be ever-so-slightly more liberal with my expenditures.

This is where many people get into trouble - loosening the purse strings can be a slippery slope. One day you're frugal, the next you're wondering how you managed to spend double (or even triple!) your SWR. The key is to justify every additional purchase - not against the "need vs. want" formula - but rather - "will this improve the quality of my life?" Note, this formula uses the words *my life*, not the lives of others. Granted, there is nothing wrong with wanting to improve the lives of others, but doing so requires that you ask yourself one more question - "why can't they do it on their own?" This may sound selfish, but it's not because you don't want to enable or reward poor life choices by other people.

Sorry for the tangent, but it's very tempting to want to share your good fortune - which is an easy way to lose it.

 

[imoldernu]

Wild Bill shoulda taken more out of his IRA when he could have. . . .

Never got around to admitting this, but a mistake in the early years... shoulda done the same... left some money on the tax table for three years.

 

[kaudrey]

For some reason, this made me actually think a bit. I think it changed over time for me based on how much I had:

First it was security (rainy day fund)
Once I had that covered, it became about having money to do things (travel, mostly)
Then it became about saving for retirement
Now it is about saving for early retirement

So now it is all of those things - we have short term savings for traveling and other stuff, and then retirement money for later...

 

[Car-Guy]

"Two chicks at once"

You have modest needs. Here you go.

 

[ArkTinkerer]

"Two chicks at once"

Here in the south that would go under "laws you think should be broken" thread.

Here you go.

This would be under the "laws you think should be broken" thread just about anywhere!

 

[Car-Guy]

I'm sure there are many other things, but in reading the board I became aware that one thing I really appreciate is not having to always be trying to save money.

I'm sure many of you have your own lists of what money is for.

Ha

+1 - All my working life I was always trying to save money for retirement. Not to an extreme, but I was always aware/concerned that I needed to save. For almost 40 years, I counted every dollar that was set aside for retirement. Looking back, I'm now amazed how quickly I quit worrying about saving more money once I had met my financial goals and retired.

 

[Sea Kayaker]

I can literally do ANYTHING I want EVERYDAY.

This simple (but powerful) idea was enough to focus my energy on earning enough money, and spending very little of it in order to make that IDEA my REALITY one day. Done. As obsessed as I was about money on the journey to ER, I am now obsessed with shaping my life into something MORE than it was while I was a career creature. The change is underway and is occurring rapidly. Money (and amassing enough of it) has made this possible.

Everyday that I wake up - there are no restrictions on me whatsoever. No quasi-ER here - ie., no kids still at home, consulting work etc... the amount of freedom was difficult to deal with at first, but now I have settled into my new life with a Zen-like calm. Only 2 months since ER, and I am closing in on being in the best shape of my life. I have attacked my fitness goals with a single minded determination that would not be possible if I was beset by "money worries" and thoughts of "not saving enough". Those days are gone thankfully.