I am in my early thirties and work in a low-paying field. I finally landed a full-time, permanent job that pays just under 60k/yr.
I currently have about $20,000 saved between a ROTH IRA, Mutual fund, and HYSA.
If I continue to live frugally, I will be able to save 15% of my gross income each month for retirement.
My question is: Should I save the 15% for retirement, or use this money to enjoy life now? Because it seems like at this savings rate, I won’t be able to retire at a reasonable age, anyway.
I have friends in the same career field as me (i.e. they also receive relatively low pay), who are having kids, constantly traveling, taking time off, taking vacations, etc., and it makes me wonder: Since I won’t be able to retire comfortably, should I just throw caution to the wind and enjoy the money while I have it?
Submitted January 12, 2023 at 06:55PM by Doug_Pringleton https://ift.tt/VWPup4b
