Have I saved enough money...

413x

413x

413x

Caporegime
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I'll preface this with.. Excluding pension.

Today my isa hit a threshold that I didn't think I'd reach for a while.
Its that number I've had in my head... When I hit this I can probably stop saving as much.
I'll put an absolute number on it as it is probably relevant. 50k
Its a years salary.
I'm a natural saver and find it difficult to even think about "stopping" or cutting back.

This is going to sound like nothing to some and a lot to others

This last 18 months has been a bit of a game changer for me. Seeing people pass away and having an illness my self that scared me to death. And that I've not made most of time.

I'm sat here thinking.. Do I need to save anymore? My parents are wealthy but miserable. I don't want to make same mistakes.


Do other people even ask themselves this? As I seem to encounter 2 sets of people. Those who always save.. Always wanting a bigger bank balance.
Vs those who absolutely don't or can't and live life with no safety net.

As I'm never having kids dying with money is an absolute waste. Which I suppose is a background motivator for many.

As spending goes.. I don't spend much really. Especially not on what the typical person does. I have no desire for a new car. Or a big house. Or many of the other typical things. They literally don't interest me anymore.

I max out my holiday allowance and go on nice ones I enjoy.. But I'd love more time. And that's where the spare goes.

I'm never gonna save 1mln. But also.. What will 100k get me 50k won't? Nothing important?

Obviously this money isn't "throw in your job and live the dream"..but more and more I getting tempted with "what's next" I think it's contracting.

Modest savings don't really allow you to retire early. You need mega money for that. And tbh, sitting around at home being old sounds like torture.

Not sure what reaction this thread is going to get if I'm honest. Ideally some views from people who have gone against the norm!
 
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413x said:
I'll preface this with.. Excluding pension.

Today my isa hit a threshold that I didn't think I'd reach for a while.
Its that number I've had in my head... When I hit this I can probably stop saving as much.
I'll put an absolute number on it as it is probably relevant. 50k
Its a years salary.
I'm a natural saver and find it difficult to even think about "stopping" or cutting back.

This is going to sound like nothing to some and a lot to others

This last 18 months has been a bit of a game changer for me. Seeing people pass away and having an illness my self that scared me to death. And that I've not made most of time.

I'm sat here thinking.. Do I need to save anymore? My parents are wealthy but miserable. I don't want to make same mistakes.


Do other people even ask themselves this? As I seem to encounter 2 sets of people. Those who always save.. Always wanting a bigger bank balance.
Vs those who absolutely don't or can't and live life with no safety net.

As I'm never having kids dying with money is an absolute waste. Which I suppose is a background motivator for many.

As spending goes.. I don't spend much really. Especially not on what the typical person does. I have no desire for a new car. Or a big house. Or many of the other typical things. They literally don't interest me anymore.

I max out my holiday allowance and go on nice ones I enjoy.. But I'd love more time. And that's where the spare goes.

I'm never gonna save 1mln. But also.. What will 100k get me 50k won't? Nothing important?

Obviously this money isn't "throw in your job and live the dream"..but more and more I getting tempted with "what's next" I think it's contracting.

Modest savings don't really allow you to retire early. You need mega money for that. And tbh, sitting around at home being old sounds like torture.

Not sure what reaction this thread is going to get if I'm honest. Ideally some views from people who have gone against the norm!
Click to expand...
Work less.
 
413x said:
I max out my holiday allowance and go on nice ones I enjoy.. But I'd love more time. And that's where the spare goes.
Click to expand...
Just on the holiday point, if you're company allows it, don't be afraid to take unpaid leave.

I started doing it during covid when we were absolutely flat out with work (business decided to furlough a few staff but we honestly were busier than we'd ever been due to the nature of what we sold) and took an additional 10 days unpaid leave and it was great.

I've done it every year since then. You can never have enough time to do the things you enjoy.
 
mid_gen said:
Work less.
Click to expand...


Contracting.

To be honest this is the aim. I've even had a few calls and chats within the last month with recruiters, people I know who do it. Trying to see if the reality is what I hope.

But at same time my conservative side

But I don't see another alternative. I do know a friend who works at a company with unlimited leave. Obviously it's not unlimited. But he does have far far more time off than me
 
t2na said:
Just on the holiday point, if you're company allows it, don't be afraid to take unpaid leave.

I started doing it during covid when we were absolutely flat out with work (business decided to furlough a few staff but we honestly were busier than we'd ever been due to the nature of what we sold) and took an additional 10 days unpaid leave and it was great.

I've done it every year since then. You can never have enough time to do the things you enjoy.
Click to expand...
They do not. I would absolutely take it of i could.
This is another option. Find a company to work for where you can.
 
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Either grab a job that has some merit or go part time.

Earn more, save more, spend more. It's what i felt like was name of the game growing up and as i aged. It seems to me the majority struggle with the balance and never really get it right. Though the western world seems to have its people in perfect control hindering them from the perfect balance.

Money and security allows a lot of options, only you will really know what's best.
 
What are you saving it for?

Money doesn't actually do anything sitting in the bank...except for make a bit more money to sit there with it.

i can understand saving towards a goal/something to spend it on, but it doesn't sound like you have one which is odd.
 
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Vhpv22l.png

Wadda you do a ? You a thinka you a Engatalian a ?
 
After getting pushed out of my job 6 months ago and not being able to find a new one, my advice is don't put yourself on the job market if you don't have to (contracting market is just as bad). When you next end up on the market if you choose to move into contracting that's cool ofc. You can always go perm again if you want.

Obvs no point talking about years of early retirement, but a consequence of planning for that is it's kinda like a massive emergency fund. I think the usual advice about "a few months to 1 year of living expenses" worth of emergency fund just doesn't cut it in today's job market.

I assume this is just another angle at your usual "what am I doing with my life" line of thinking which you've asked several different ways, but ultimately you either want to make a major change or not, only you can decide.

Saving is often talked about in the context of goals - what do you want to save for? That's a homework question I'll leave you to ponder.
 
It's time for one of those adrenaline junkie adventures. You know, the kind of off-piste skiing where you fly off the side of a mountain and a very cool-looking snowboarder pulls you out of a few feet of snow.
 
Dad died at 58. Didn’t get to spend a penny of his pensions. Since then. I contribute the minimum to mine that my employer will match.

I am saving for a house extension. But apart from that. I am the sort who would just keep 6 months net salary as a buffer and spend the rest. I don’t have any interest in accumulating vast wealth or having loads of money in retirement. Who cares about having loads of money when you’re old. You won’t be able to enjoy it much anyway because you’re old.

So buy the nice car, go on the fancy holiday. **** it.
 
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