Rambler
Thinks s/he gets paid by the post
- Joined
- Jul 15, 2007
- Messages
- 2,487
Good Intent, I think most of us have had night terrors from time to time. Admittedly I'm one of those who make the relatively big bucks, but when you see several years of salary and bonuses (not expenses, which are way less than half of sal+bonuses, so more like 12-15 years' expenses) evaporate in a short, several month period, ya gets the night terrors. We had been hoping to pull the FIRE plug this coming summer, but now with less than 25 years expenses set aside (4% SWR) we are not comfortable with it at all, and have resigned ourselves to the "one (or two, or three) more year(s)" syndrome. At our age (47) we had been planning to have 30-33 years worth of expenses set aside. If everything had flatlined from June 2007, we would be sitting at 35x expenses right now. So yeah, it causes night terrors.
But, it would appear to me that you are younger than we are, and still have a long way to go to get to our age. Remember this: The first million is the hardest, and it becomes easier with each one progressively. Same with hundred-thousands...the first one is the hardest. Your salary will rise, your mortgage will be paid off (our savings really took off when the house was done and paid for), you may have nice promotions, etc., which will all make saving progressively easier.
One thing to remember is: LBYM, and be yourself. There is no need to keep up with the Jones's. We were visiting some friends the other night. My DW was oooohing and aahhhing about their home, and I said to her that I just could not live in a place like that...too fancy for my tastes. She said back to me "that's why no one knows you are a CEO...you are a simpleton, these things don't matter to you". Now, these folks were probably living within their means, but not necessarily below their means. For them, it seems to me anyway, more stuff makes them happy. For me, enjoying time with my family is what makes me happy. I suspect that if you keep that in mind, and don't let the Jones's mindset overcome you, then you will probably make it. In any case, you came to this site, where you will get a plethora of information, and some good tips. Welcome to the club!
Rambler
But, it would appear to me that you are younger than we are, and still have a long way to go to get to our age. Remember this: The first million is the hardest, and it becomes easier with each one progressively. Same with hundred-thousands...the first one is the hardest. Your salary will rise, your mortgage will be paid off (our savings really took off when the house was done and paid for), you may have nice promotions, etc., which will all make saving progressively easier.
One thing to remember is: LBYM, and be yourself. There is no need to keep up with the Jones's. We were visiting some friends the other night. My DW was oooohing and aahhhing about their home, and I said to her that I just could not live in a place like that...too fancy for my tastes. She said back to me "that's why no one knows you are a CEO...you are a simpleton, these things don't matter to you". Now, these folks were probably living within their means, but not necessarily below their means. For them, it seems to me anyway, more stuff makes them happy. For me, enjoying time with my family is what makes me happy. I suspect that if you keep that in mind, and don't let the Jones's mindset overcome you, then you will probably make it. In any case, you came to this site, where you will get a plethora of information, and some good tips. Welcome to the club!
Rambler