Episode Details
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171 - Should I Save My Money For The Future Or Spend it Today?
Description
Scott and James discuss if you should save your money for the future or spend it today.
Listener Question:
I am 40 years old and want to know how I am doing. I have been through a divorce and a major job change and have been saving as much as possible, but it seems like I may have gotten to a place where I may be able to save less aggressively. I would really love to be able to retire comfortably at 60 but also live my best life now without over-saving and missing out on today. I have an old 401k, current 401k, Roth IRA, HSA and brokerage account. I know my numbers very well: budget/spending, savings/savings rate, net worth, etc.
Planning Points Discussed
- Utilizing Time Efficiently
- Capital Appreciation
- Purchasing Power
- Other issues (IRAs, Inflation, Financial Goals, etc.)
Timestamps:
2:30 - We're on YouTube HERE!
4:15 - Summary of Goals
10:02 - Comprehensive Financial Planning
17:38 - How Much To Save/Spend Today?
22:32 - Aligning Your Financial Goals
LET'S CONNECT!
James
Scott
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