All this money talk....

[Hobbs]

has me thinking. How many of you are pinching pennies (putting everything you can in savings) versus spending your money now on what you want and saving very little? I hope I live a long life but we are never guaranteed tomorrow. I had a friend that just passed away of cancer. He was given 6 months to live about 6 months ago. He wasn't young (early 60s) but I wouldn't consider him old either. A lot of us are saving so when we hit 55-65 we can retire and then go on the trips/experiences we have put off for so long. I'm thinking I want those experiences now when I'm younger and possibly enjoy them now and have the memories for a lifetime but this may also lead to a very limited income when I'm older or retired. Thoughts?

[Tyrex750]

I live now and buy what I want and enjoy it while I can. U never know what shape u will be in that far down the road. If i take after my folks it's not looking good after 60, so live it up now.

[popeandyoung151]

Man I think there’s a happy median. I agree with you that I don’t want to save everything and live paycheck to paycheck while I’m young. But I also don’t want to pinch pennies when I’m older (if I get there). I try to live a little and save a little every month.

[Beleg]

If you’re in your 40s you only have 20-25 years to save all the money you will need for the rest of your life if you want to retire at 60 or 65. If you expect to travel and spend in your retirement, you better save even more.

[stickerpatch59]

I save all I can, i'm self employed so no retirement to speak of except s.s. if their is any left by that time.

I don't want to depend on anyone else when I get old.

[twistedmidnite]

We put back a little into our nest egg. We mostly live for now though. I'm not going to do without today hoping the sun rises for me tomorrow. I'm also not a "church person" so no money given to the church to buy my way into heaven lol. Live today, buy today, play today because your only one accident or sickness away from not having the chance.

[jer_james]

I would much rather travel when I'm 35 than save for travel when I'm 65.

I'm also in the do a little of both camp. Enjoy yourself now, but be smart for later.

[bakin7005]

If your young you live it up, borrow it up, charge it up, and worry about retirement somewhere waaay down the road. Then somewhere around 30-35 (hopefully) you wake up and realize you may live long enough to retire. But dont worry... uncle sam wil take good care of you.

[Jcjohnson]

Earning and Saving all I can at this point in my life.

[Capt.Brown]

I do both, but I’m blessed and can afford to do that at this time. I think bare minimum you need to save enough we’re your not a burden on your kids or others when you can’t work anymore.

[Blank]

Play early and enjoy yourself, within reason. Then work at something you like until you die!!!

[diamond10x]

I save a lot and pinch pennies with everything except when it comes to time in the outdoors hunting and fishing. I’m a DIY guy so my adventures are on the cheap side but it can still add up. I’ve realized I want to spend as much time in the woods doing the things I love with my dad and family cause it won’t last forever.

“You’ll run out of health before you run out of money.” -Randy Newberg

[westtexducks]

Have a percentage of my income rolling into a 401k some is being funneled into a business and anything off the top after bills is play money. I am going to enjoy my youth but I am also not working into my 70s to afford a nice lifestyle at that age. A balanced approach has to be the way to go other wise your going to be screwed in your old age. I take several vacations/hunting trips a year and keep myself in new toys when I feel the need but at the end of the day everything is taken care of and I am living comfortably and still building up my retirement accounts. Just as an FYI for all the young guys in your 20s like I am go open an account with someone and start socking something into it for retirement doesn't have to be much anything helps at this point and getting that compounding interest going now will help keep you comfortable when it comes time to quit working.

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[dustoffer]

I started my IRA back in '82 and also an investment account as well. Have not missed a payment since and doubled on the investment account some months too. I am 72 and have to take the mandatory distribution from my trad IRA but since I still have earned income, I started a Roth and have been maxing it as well. Why? Because when I pass, my military retirement check goes away and I am providing for my wife. If she goes first, then I have a pile to pay for fun stuff but won't be able to spend it all so granddaughter's college is funded too.

[RiverRat1]

At some point people will look back and think...Man those guys had it so freaking easy, it would have been a breeze to save money in 2015-2020!