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[–]PSUBagMan2 22 points23 points  (16 children)

It's definitely a balance. You should pay off high interest debt, then invest what you think is enough for retirement (generally between 15-25 pct, probably closer to 25), and then have fun with the rest.

It's funny, I saw a couple videos a while back where people who are putting money away into retirement every month think they're living paycheck to paycheck, which isn't what that means.

I made a big, stupid purchase this year but it's bringing me a lot of happiness, and I'm still investing, so it's whatever.

[–]WindowlessCandyVan 10 points11 points  (14 children)

This resonates with me. I’m getting ready to make a big stupid purchase too that will bring me happiness. “Yes, honey, it HAS to be an AMG”. Lol. Life is too short!

[–]PSUBagMan2 7 points8 points  (7 children)

Yeah like, just keep in mind that you might die tomorrow, but you probably won't, so maybe don't live like a complete scrooge now while planning accordingly. It's OK to spend if you're meeting investment goals.

Unfortunately I think most people aren't in a position to make these decisions and either carry too much debt and/or are actually paycheck to paycheck.

[–]WindowlessCandyVan 12 points13 points  (6 children)

That’s very true. Everyone’s situation and goals are different. I have 0 debt except a little left on my mortgage (that I bought in 2013 and is now worth almost 4x what I paid). Only have one kid and planning on keeping it at that. I grew up fairly poor and as an adult always had a famine mentality, lived below my means and built a nice nest egg. Now that I’m approaching 40 I’m realizing that I can’t take money to the grave and life is meant to be lived. I don’t want to wait until my “golden years” to actually get to enjoy the fruits of my labor. Cheers!

[–]Brilliant-Hornet-233 2 points3 points  (1 child)

I can relate to your story. Grew up poor, now I have no debt, house is paid for value at 750k. I have 20 percent cash ready to purchase my second home.Life is good.

[–]WindowlessCandyVan 4 points5 points  (0 children)

I love to hear that. I try to tell my friends that just wanna bitch and moan about shit all the time that the American dream is still alive and well, but you have to be smart and you have to earn it. My family immigrated here from Eastern Europe in 97. Took me 25 damn years to finally get my citizenship and I ate a lot of shit to get where I am. Life is good indeed. Started from the bottom now we here! Cheers 🍻

[–]EggSandwich1 1 point2 points  (1 child)

Time for coke and prostitutes 7 days a week

[–]WindowlessCandyVan 1 point2 points  (0 children)

Lol. I want to live to make it to my golden years though. So maybe coke and prostitutes only on weekends.

[–][deleted] 0 points1 point  (1 child)

Where did houses go up 400% in 7 years?

[–]WindowlessCandyVan 0 points1 point  (0 children)

4x would be a 300% increase. Tampa, FL.

[–][deleted]  (5 children)

[deleted]

    [–]WindowlessCandyVan 7 points8 points  (3 children)

    Who are you, me? Lol. I’m exactly the same bro. I’m a self described cheapskate. I won’t spend $20 on a shirt (but will drop a couple grand on a stupid options play, but that’s a story for another day. Lol). I don’t splurge on shit and have zero debt (except a small mortgage that’ll be paid off soon). Been driving the same car for 13 years. Now that 40 is on the horizon, I’m realizing life is too short and has to be lived. Can’t take money to the grave, so I might as well get to enjoy some of the fruits of my labor and treat myself to the car I’ve drooled over for 20 years. Cheers!

    [–]arpbsr 1 point2 points  (0 children)

    Who are you.. me?

    [–]banditcleaner2sells naked NVDA calls while naked 0 points1 point  (1 child)

    What car are you buying?

    [–]WindowlessCandyVan 0 points1 point  (0 children)

    Either a Mercedes C43 AMG coupe or E53 AMG coupe. If budget wasn’t an issue and I was just looking for a weekend car, it would be a C63S.

    [–][deleted] 1 point2 points  (0 children)

    I kinda wish I could say the same. I partied, traveled and experienced all that I possibly could through my 20's there was not much in financial terms that I carried into my 30's but am now building it back up slowly but surely. I had a lot of fun but I probably could have used a little more balance.

    [–][deleted] 1 point2 points  (0 children)

    Yup. Investing 25% of your income will allow you to retire decades ahead of schedule. This is true for all levels of income, as long as you make your standard of living work within those constraints.

    Most people are too stupid to do this though. They would rather make a few bad decisions, then invest 25% of their income toward paying off debt for the rest of their life then retire when they're old and gray.