I wanted to get some thoughts on this. It seems like a lot of people focus on saving and investing with the idea that when they turn 65, they’ll have all this money to spend during their golden years. But then life gets in the way — health problems, accidents, or illnesses like cancer can strike. Many people don’t even get to enjoy their savings because they never expected life to cut short their plans. On the flip side, investing is a way to feel secure about your future. The goal is to be financially independent enough to not have to work when you’re older, but is it worth sacrificing your present? Life is short, and I think we should enjoy the moment, not just focus on the future. I’m not saying stop investing completely, but maybe it’s better to balance it out. Spend more on experiences, and with people you care about. My grandfather had a lot of savings, but he passed away from Parkinson’s just a few years after he turned 60. My grandmother saved millions but didn’t get to use much of it before Alzheimer’s took its toll. I also know people who died unexpectedly in their 30s. I’m in my late 20s and have a decent portfolio, but I’m planning to slow down my weekly investments and focus on experiences while I’m still young. I’ve read that the number one regret people have on their deathbeds is, ‘I wish I hadn’t worked so hard all my life.’
Thanks for the advice from someone in their 20s. Was this just to tell us you’ve got $250k in your account?
If you have a clear goal, you can figure out how much you need to save. Maybe it’s 10% of your income or maybe 50%. But if saving 50% means you can’t do anything fun, then it comes down to what you value more — your financial goal or the experiences you want now. Just keep in mind, you might not die young. You could live into your 80s, so you have to plan for that too.
@Skyler
I agree with your point, but I also think that as you get older, your priorities change. A vacation when you’re in your 20s is a lot different from when you’re 75. The value of experiences changes over time, and I think that’s something people don’t always consider. There’s actually some research around this, but it’s been a while since I read it.
@Blair
It’s a bit hypothetical though. Most people end up with more money as they get older. Sure, you may not be able to afford the best vacations when you’re younger, but you travel in a way that fits your budget. And while saving is important, you shouldn’t work yourself to death just for retirement. OP seems to think they’ll die young, but the average person lives into their 80s, so it’s wise to plan for those years.
@Blair
There are three stages to retirement: 1) The go-go years, 2) The slow-go years, and 3) The no-go years.
Indra said:
@Blair
There are three stages to retirement: 1) The go-go years, 2) The slow-go years, and 3) The no-go years.
Well said! 
A lot of people chase investment goals thinking they’ll have a lavish retirement at 65.
This is more complicated than it seems. Many surveys show that most people don’t save enough for retirement. Some do take frugality too far, but I don’t think that’s the majority. Bill Perkins’ book Die with Zero makes a good point. He doesn’t mean to die poor but suggests you should help your kids while you’re alive and not just leave them money when you die. Giving them support when they need it most might be better than leaving a large inheritance.
That’s because most people can’t reach their goals even if they maximize savings.
Zorion said:
That’s because most people can’t reach their goals even if they maximize savings.
You’re right, if someone isn’t hitting their financial goal, reducing investments might not be the best idea. They should really reassess if the goal is realistic. Some people in the FatFIRE community want to retire with $10 million. At a certain point, more money doesn’t add much to your happiness. For example, research shows that once your income is around $90k a year, your overall happiness doesn’t increase much with more money. So it’s important to figure out what’s limiting their progress and try to adjust expenses so they can enjoy life now without compromising future goals.
@Blair
FatFIRE is for people who want the luxury lifestyle. If that’s what they want, who’s to judge? You’re in your 20s, and saving is a good idea, but be aware that you could be working 20 extra years if you don’t push harder now. If you’re okay with working longer, that’s fine. But don’t lecture people on how to handle their goals.
@Zion
You make a good point. I’m not saying everyone should follow the same path. I just think it’s important to think about health, the stress from work, and whether we’re sacrificing our present selves for a future that’s uncertain. A balance between living for today and working toward a secure future is something that everyone should find for themselves. But in my case, I plan to keep working into my 60s. It would be a tragedy if something happened before I could enjoy retirement. It’s a complex issue, and we should all be more flexible in how we think about it.
@Blair
Those people are just insecure. They need others to validate their worth.
Do both.
The general recommendation is to save 15% of your income for retirement. That’s not a huge percentage.
When you’re eating noodles and frozen pizza because everything is invested 