Personal Investments • Retirement savings on good path: Spend or save now?

Is 65 or 75 yr old me going to notice a difference between those amounts?

For quality of life? Likely not but that depends on your goals.

I'm in your situation fast forwarded 12 years. Probably going to start drawing a lucrative govt pension around 60 that will cover 100% of our expenses. At that point I probably won't stop working 100% so there will be yet another income stream.

One kid is a college junior now (that we've been able to cash flow) and I've got two more yet to start. We will only dip into savings for college when we have a year where we've got two in college at the same time--luckily only 2 years.

The best thing I've done for peace of mind is a simple spreadsheet that shows my pension projection, estimated retirement account values, and most importantly, my estimated monthly expenses. As long as we don't have major lifestyle creep, we will be bringing way more in than we'll need from the investment accounts--that's just gravy.

Definitely save...but also enjoy your life with your family and give your kids the gift of experiences (I'm not big on material things). You don't want to look back and regret these times you won't get back.

Statistics: Posted by avidelta — Sun May 05, 2024 8:26 am — Replies 47 — Views 4978

---