Finding A Balance: Save Every Dime or Spend From Time to Time

 

 

 

Since my wife and I decided to try and turn our portfolio into $1 Million Dollars in 5 years, I have struggled with finding a balance between hitting our financial goals and still enjoying some life splurges.

 

To be honest, I even had moments of guilt and a little embarrassment after I bought things because I felt like “come on, you’re supposed to be the savings guy. What kind of example is this??”

 

Which is crazy, because it’s not like I’m deviating from our financial plan, because I’m not. But still, I couldn’t help but feel like a hypocrite for wanting to and buying nice things for myself.

 

How crazy is that?

 

I mean the point of all of this aggressive saving, is to build up this portfolio so we can have an early retirement and a enjoy life.

 

However, I often wonder what if we retire with a hefty portfolio then die a year or two later, or God forbid, someone is diagnosed with cancer or something, then what?

 

Would all of that aggressive saving and sacrifice have been worth it if we didn’t get to enjoy any of it?

 

I don’t think so.

 

I initially thought we should save every dime we can, even above our yearly goal but I’ve come to the conclusion that as long as we stick to the financial plan we carefully put together nearly a year ago (posted below), that any extra money is ours to do whatever we want, guilt free.

 

That could mean a few extra trips, a new car, a few expensive dinners a month, maybe even extra money in savings, who knows?

 

What I do know is, that like everything else balance is key and I am glad we have found ours!

 

 

 

      22 to $1 Million Financial Plan

 

* Max out my 401k

* Contribute 8% to my wifes 401K

* Invest an additional 12% between our Roth IRA and Personal Investment

* Achieve a 13% annual return

 

 

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