I disagree. I've watched three members of my family save and save and ultimately die of cancer with a pile of cash which consumed their life obtaining. I'd rather live for the moment.
Obtaining money takes far too much time when you could be having fun (fun rarely involves much expenditure).
I guess it depends on the magnitude of saving we're talking about. I have also seen people who work 12+ hours per day making a ton of money, and only give themselves tiny budgets for pursuing things they enjoy - one guy worked a full-time job and did 6+ hours of consulting every day, made well over $100k and lived in a relatively inexpensive area, but still only gave himself something like $50/month for eating out, books, entertainment, and the like. That is their call, of course, but I don't think I'd be very happy doing that.
On the other hand, though, there is an enormous amount of freedom and peace-of-mind that comes from having a healthy pile of cash and relatively liquid investments. If I look back at the 10 years or so since I started working full-time, my increase in income has been nice, but the increase in savings has improved my life substantially more.
I agree there's no point to being the richest person in the graveyard, but I'd prefer dying with a little excess money to being in a position where I was always a few paychecks away from serious financial trouble. Balance is key, I guess.
You're right, fun is cheap. So why spend my fortune when I could retire early instead? To live each day like its your last is to fear living. I will live my life assuming I live to a ripe old age, and will never fear to live another day. The freedom this has brought me and the peace of mind is something no amount of hedonism could replace.
To assume a healthy savings means I must be a miser is unwarranted. Most who are thin are not anorexic.
As with all things it is a balance, having built up wealth can let you take advantage of more opportunities and be more flexible than if you are living paycheck to paycheck (even if that paycheck is sizable)
Comments
I disagree. I've watched three members of my family save and save and ultimately die of cancer with a pile of cash which consumed their life obtaining. I'd rather live for the moment.
Obtaining money takes far too much time when you could be having fun (fun rarely involves much expenditure).
I guess it depends on the magnitude of saving we're talking about. I have also seen people who work 12+ hours per day making a ton of money, and only give themselves tiny budgets for pursuing things they enjoy - one guy worked a full-time job and did 6+ hours of consulting every day, made well over $100k and lived in a relatively inexpensive area, but still only gave himself something like $50/month for eating out, books, entertainment, and the like. That is their call, of course, but I don't think I'd be very happy doing that.
On the other hand, though, there is an enormous amount of freedom and peace-of-mind that comes from having a healthy pile of cash and relatively liquid investments. If I look back at the 10 years or so since I started working full-time, my increase in income has been nice, but the increase in savings has improved my life substantially more.
I agree there's no point to being the richest person in the graveyard, but I'd prefer dying with a little excess money to being in a position where I was always a few paychecks away from serious financial trouble. Balance is key, I guess.
You're right, fun is cheap. So why spend my fortune when I could retire early instead? To live each day like its your last is to fear living. I will live my life assuming I live to a ripe old age, and will never fear to live another day. The freedom this has brought me and the peace of mind is something no amount of hedonism could replace.
To assume a healthy savings means I must be a miser is unwarranted. Most who are thin are not anorexic.
I will add to my point above that the people in question died in the range of 32-44 years old. What retirement?
What about it? Should I also stuff my face with food every chance I get, because why stay thin if I'm just going to die soon anyway?
Balance, my friend.
As with all things it is a balance, having built up wealth can let you take advantage of more opportunities and be more flexible than if you are living paycheck to paycheck (even if that paycheck is sizable)
Go to far and you are right.