er33
Recycles dryer sheets
I think you are doing well! My own brother who is a high earner is saving virtually nothing despite my 'encouragement' so this is not easy to do!
Lots of good information, but this site has destroyed any illusions that I may have had about doing better than average in my retirement financial planning.
I used to pat myself on the back for putting 15%+ away each year, but on this site it seems like most sock away 25% +.....there is just no way to do that on just over $100,000 a year, with a wife that likes horses, among other things.
I also used to think that getting out at 62, maybe 60, with money to live at or above my current means was great, but then I read all these posts from 30 somethings that will be retired long before I am (49 at present).
Guess I am just jealous I just need to save those articles that are periodically published showing how much the AVERAGE 50 year old has saved for retirement, to remind myself that I am doing OK.
Lots of good information, but this site has destroyed any illusions that I may have had about doing better than average in my retirement financial planning.
I used to pat myself on the back for putting 15%+ away each year, but on this site it seems like most sock away 25% +.....there is just no way to do that on just over $100,000 a year, with a wife that likes horses, among other things.
I also used to think that getting out at 62, maybe 60, with money to live at or above my current means was great, but then I read all these posts from 30 somethings that will be retired long before I am (49 at present).
Guess I am just jealous I just need to save those articles that are periodically published showing how much the AVERAGE 50 year old has saved for retirement, to remind myself that I am doing OK.
My sister went through a horse phase when her daughters were young and I was astounded at the total costs associated with horse ownership. It made a large power boat or a small plane look thrifty.
I guess you need to decide if you will be working longer to support your wife's spending and how you each feel about that.
I used to pat myself on the back for putting 15%+ away each year, but on this site it seems like most sock away 25% +.....there is just no way to do that on just over $100,000 a year, with a wife that likes horses, among other things.
Guess I am just jealous I just need to save those articles that are periodically published showing how much the AVERAGE 50 year old has saved for retirement, to remind myself that I am doing OK.
Slow and steady really does win the race. Keep plugging along. It WILL get there.
Remember this is an ER forum with a small number or ER/investing/frugality nerds......we are NOT NORMAL. and in fact neither are you, that 15% makes you pretty special.
Tractor guy said:My personal key to happiness is to decide what I want in life without looking over my shoulder at others. Then decide if it is worth going after and if it is, work to get it. There is a lot of satisfaction to achieving a goal that doesn't need to be tied to being better than someone else.
Fair enough.One of the best pieces of advice I received ... was this: "always have a good number of (of course not exclusively) friends and acquaintances who have accomplished more or done better than you have. Do not be jealous of them, but see what you can learn from them and apply towards your life to achieve a similar goal".
....My conclusion from a lot of these discussions with people at all stations of life is that it doesn't matter how much you have. Unless you are one of the top 5 on Forbes richest list, there is going to be someone else who has more of something that you would like to have. If you're the jealous type, you're always going to be able to find someone to envy.....
Right on.We were on vacation a week ago and were taking a cruise around Charleston Harbor and admired some of the very nice harbor mansions. My wife mentioned something about those homes and I pointed out to her that the couple that trailers their boat to our lake and cruises by our lakefront home probably thinks the same thing - it's all relative.
Great post. While I consider myself to be more fortunate than many others, at the same time there are many other people who are much richer than I am. It is all relative.
We were on vacation a week ago and were taking a cruise around Charleston Harbor and admired some of the very nice harbor mansions. My wife mentioned something about those homes and I pointed out to her that the couple that trailers their boat to our lake and cruises by our lakefront home probably thinks the same thing - it's all relative.
Right on.
Also, those same beautiful houses also require big bucks to maintain, furnish and insure. Plus the taxes are proportionately large, and the owners will likely need at least small household staffs to handle to cleaning and gardening.
There is nothing wrong with paying all of those ongoing expenses if one wishes and has large discretionary income. But at the end of the day one can only sleep in one bedroom etc., so to me it like an unnecessary financial and psychological burden.
A friend of my in architecture says that no matter how big someone's house is, they generally only live in 2500 square ft of it.
What you need to worry about are not the people who are richer than you, but those who are poorer. In today's world, they have claims against your wealth.Thanks for expressing what I’ve sometimes felt since discovering this site a few weeks ago. I have found it very difficult not to engage in comparisons, whether with the fancy cars that pass me on the highway, the net worth statistics in the Survey of Consumer Finances, or with other individuals on sites like this one. When I find myself succumbing to comparisons, I try to challenge myself to press harder with my own financial goals. It’s difficult however, with not wanting to change some of the choices I’ve made, like paying for an expensive apartment so I can walk to work instead of take the bus. And having gotten married 1 ½ years ago, it’s no longer just me that’s making the decisions. What I like about this forum is the support that I see for the other posters and the different things that I have learned just by hanging around.
What you need to worry about are not the people who are richer than you, but those who are poorer. In today's world, they have claims against your wealth.