I realize this is not a bad problem to have. I'm 42 and work for state government making about $70K a year. I rent an apartment I love, go out to eat, buy occasional gadgets, generally enjoy myself. My job has a pension which pays 50% of my avg highest 3 years salary if I stick it out until 62 -- which I will probably do. (My state is pretty well managed and I'm confident it will be there when I retire.)
Because I worked my ass off in my 30s and put off a lot of fun, I have about $450K in low-cost index funds (200K from rollover IRAs and Roth IRAs, 250 in a regular account). I have about 19K Cash on hand for emergencies. I pay my cc off every month. I have about 35K in student loans but the interest is <2% so I have no need to pay them quickly. I recently got my FICO score and it was 850.
I'm still maxing out a Roth IRA every year at $5,500. Aside from that I basically spend as much as I bring in. I haven't been on a nice vacation in about a decade.
If I keep going like this and retire at 65, I'll have about $2.3 million in investments. But if I take that extra $5,500 and go on a nice vacation every year, or do more fun stuff generally, I'll retire with $2 million, and have a lot more fun and cool experiences over the next 20 years.
The idea of just stopping saving for retirement seems really weird and I'm a financially conservative guy. But I keep running the numbers, and I think I'm good. So... should I have more fun?
(p.s. I suppose I could maybe retire earlier but I don't get the pension until 62, and I actually like my job.)
Submitted February 15, 2017 at 08:33AM by myspecialthrowaway99 http://ift.tt/2lgTBmE
