Have I saved enough money...

Man. Some heavy **** in here eh?

@413x We have lots of parallels. Similar age (37), with a partner with long term medical stuff (mental health mostly for mine), spend a lot of time e questioning ourselves and our path/decisions etc. I spent the majority of 10 years wondering if I should move on from my partner when her health was bad, or I wasn't sure if we wanted different things. She's quite set on no kids, I'd love them but not sure I'll ever get my **** together enough to do it (diagnosed ADHD around age 33). And time is moving on.

That said, most of my worry was big existential stuff like kids, salary/long term finances, fighting myself about life decisions. Since we bought a house together things have shifted a lot - I've accepted that we are happy TODAY even if that means a lot of sofa time and "unproductive" time. I'm largely burned out from work and/or demotivated by the slow pace of house renovation. So I think I'm chronically depressed but happy today, on the moment. Something fell into place though: I've finally accepted that if I'm happy with my partner right now then this is Plan A. And if Plan A means no kids then I suddenly have 20 more years to fit all my life in. I'm not in a hurry to do it all now. I may regret being so lazy later, but feeling happy for today is so valuable because I really wasn't for years. I spent all my energy grinding away to achieve something at work and worrying about if my partner was the right person.

I see you doing this a lot too, the existential dread. Honestly I think a lot of your hobbies could be escapism. If you really do just love nature, the outdoors and physical activity that's great. I really don't care for them and I see you as someone who's more motivated and driven to immerse yourself in your interests than me. But I'd worry whether you're just trying to throw yourself into those activities that occupy your mind and stop you spiralling in worry. Taking your mind off your worries isn't the same as accepting the situation and learning to be happy in it.

Maybe you really do just love your own company, or even dislike people. If so you'll have to embrace that and build a life where you live an unconventional way but you're content. However mostly, people need to be around people and we're social animals. We need each other.

In terms of whether your bank balance is right or wrong... I was raised in a council flat on benefits, I've been homeless, I've been in debt using a credit card to buy groceries while I earn just enough for rent. I've worked my arse off at uni and 2 jobs and now, I've got a salaried job and own a home but still drive a 20 year old car and wear shoes with holes in. You simply won't get a single answer about money because some people haven't got a clue what being broke or poor feels like. Other people won't ever know what financial security feels like, and others still have a middle ground where they're stable but won't ever "own" anything of lasting value.

50k was the point at which I stopped bothering to save because it was an immense amount of cash at the time. This was before I bought a house and I more or less figured that reaching 50k was an achievement (7 years starting with student loan aged 27) and I wasn't likely to hit another milestone. Spent it all on house deposit and now am building back up a buffer. I have no interest in having more in the bank than I need for all eventualities - emergencies, house improvement, that's about it.

You need to look inside, no one is going to answer the questions you have inside you. I know you want an answer but they don't exist out here.
 
Man. Some heavy **** in here eh?

@413x We have lots of parallels. Similar age (37), with a partner with long term medical stuff (mental health mostly for mine), spend a lot of time e questioning ourselves and our path/decisions etc. I spent the majority of 10 years wondering if I should move on from my partner when her health was bad, or I wasn't sure if we wanted different things. She's quite set on no kids, I'd love them but not sure I'll ever get my **** together enough to do it (diagnosed ADHD around age 33). And time is moving on.

That said, most of my worry was big existential stuff like kids, salary/long term finances, fighting myself about life decisions. Since we bought a house together things have shifted a lot - I've accepted that we are happy TODAY even if that means a lot of sofa time and "unproductive" time. I'm largely burned out from work and/or demotivated by the slow pace of house renovation. So I think I'm chronically depressed but happy today, on the moment. Something fell into place though: I've finally accepted that if I'm happy with my partner right now then this is Plan A. And if Plan A means no kids then I suddenly have 20 more years to fit all my life in. I'm not in a hurry to do it all now. I may regret being so lazy later, but feeling happy for today is so valuable because I really wasn't for years. I spent all my energy grinding away to achieve something at work and worrying about if my partner was the right person.

I see you doing this a lot too, the existential dread. Honestly I think a lot of your hobbies could be escapism. If you really do just love nature, the outdoors and physical activity that's great. I really don't care for them and I see you as someone who's more motivated and driven to immerse yourself in your interests than me. But I'd worry whether you're just trying to throw yourself into those activities that occupy your mind and stop you spiralling in worry. Taking your mind off your worries isn't the same as accepting the situation and learning to be happy in it.

Maybe you really do just love your own company, or even dislike people. If so you'll have to embrace that and build a life where you live an unconventional way but you're content. However mostly, people need to be around people and we're social animals. We need each other.

In terms of whether your bank balance is right or wrong... I was raised in a council flat on benefits, I've been homeless, I've been in debt using a credit card to buy groceries while I earn just enough for rent. I've worked my arse off at uni and 2 jobs and now, I've got a salaried job and own a home but still drive a 20 year old car and wear shoes with holes in. You simply won't get a single answer about money because some people haven't got a clue what being broke or poor feels like. Other people won't ever know what financial security feels like, and others still have a middle ground where they're stable but won't ever "own" anything of lasting value.

50k was the point at which I stopped bothering to save because it was an immense amount of cash at the time. This was before I bought a house and I more or less figured that reaching 50k was an achievement (7 years starting with student loan aged 27) and I wasn't likely to hit another milestone. Spent it all on house deposit and now am building back up a buffer. I have no interest in having more in the bank than I need for all eventualities - emergencies, house improvement, that's about it.

You need to look inside, no one is going to answer the questions you have inside you. I know you want an answer but they don't exist out here.

Yeah a lot of parallels that's for sure.

Its incredibly difficult to truely pin down why I like what I like. I mean how far down the path to root cause can you go?

I do think I love it.

We do have differences..
I grew up on a farm, with a good upbringing. We weren't mega rich outwardly but we absolutely weren't poor. My family worked hard for their money. No lavish holidays but we never went without. I've never really known hardship I guess.

As to "do I really like what I like"?
I watched birds with my grandad. From as early as I can remember. I remember clear as day first time I saw an emperor moth. I was young! We played in the grain silo climbing it as kids... Incredibly dangerous, climbed bails of straw to the top and basically was comfortable with risk from that age, id dive into my grandparents pool in over the cover real into 3ft of water,thats like diving 3ft high into 3tf of water, I've always loved the water. We'd play in the wild acre of space.. By wild I mean in a dense wood head height with undergrowth.
So Really, my childhood is filled with things I love now, and it was an amazing one I'd never change.

We lived far from friends. So I amused myself most of the time outdoors.
I feel I've come back full circle. With trying to "fit in" in the middle part of my life or be normal (going to pubs, following the crowd). I eventually gave this up because.. I didn't really like it.

Now i don't care about fitting in. I find the vast majority of people boring/normal. I do what I like. I wear what I like. This feels better.

If my hobbies were new I'd wonder too if I really did enjoy them.

Also, being continued let down by people (not in a betrayed way) has kind of made me accept people come, people go, and this is OK. An example is my kayaking friends. We got. Together during covid, went out a lot kayaking. But in the end they settled down with partners and stopped coming. This is OK. At the time it was amazing. And the ending of this is normal and fine. But it does push me to "people are transient in life"

The partner stuff is very similar and it's always hard. I It was a big step going on half holidays of the year solo. Not entirely solo. It's on group trips. And meeting these like minded crazies is amazing. Same with my MTB and unfortunately kayaking.

Its a not really that I love solo. It's more I've struggled to find outdoorsy people I gel with. Most of my good friends are very indoorsy.
Plan was always to do this stuff with my partner. This is a sad loss really for both of us.



I guess this post has moved on from "arbitrary money" to what is life after the boxes are ticked.

Hard part is I do know I think what I'd do without my dog/partner. So if I'm not gonna bail on that.. I need to find a middle ground. This is probably where my head is at. It's just damn slow getting there.
 
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I burn a lot of my brain time worrying about making these decisions or starting the ball rolling. Accepting how things are has been a big shift and a blessing for me. It does sound like you're confident about your passions, so maybe you just need to figure out how to maximise them but fit them into a life that does have your partner, dog, job as well? Then the goal is to stop worrying worry less because you know what the plan is ;)
 
I burn a lot of my brain time worrying about making these decisions or starting the ball rolling. Accepting how things are has been a big shift and a blessing for me. It does sound like you're confident about your passions, so maybe you just need to figure out how to maximise them but fit them into a life that does have your partner, dog, job as well? Then the goal is to stop worrying worry less because you know what the plan is ;)

At the moment my mind is set to try and get a van to load up all my kit. (camping, MTB, kayak etc and just have it all ready. If its a nice weekend just load up the dog, partner and go for weekend away in the UK.

If I could get more time off or contracting where get a month off I could go into Europe.
Maybe with dog/partner depending on her work.

Its probably the most realistic short term plan.

Its also a good test on how bad her health is. If she can manage it. Great. If she can't.. We'll at least I know.
We tried things like actual camping. But due to her health issues the experience became a chore. It's not fun camping with a poorly dog partner when it's fairly physical endeavour.

I bought myself my solo kit to go in winter. It's much easier as I only have to look after myself. Also, partner doesn't feel she's missing out.. As she would never come in winter even if she didn't have her health issues.
 
Re-reading some of your replies @413x sounds like you're in need of change / adventure. Personally if I didn't have kids (that said I'm tempted to do this despite having kids) is to move abroad/somewhere else, and have an adventure and try something - even if it turns out to be the worse decision at least I will have scratched that itch. Sounds to me like there's something deep down making you unhappy/unsure.
 
An afterthought: it might help to achieve quiet in the home, e.g. read instead of TV. If the home isn't quiet the mind can't wander, the mind needs to wander to solve the more reflectful questions.

Watch:

Also watch:

Edit: Maybe this one is better (he did two on the same day):
 
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I would never have done it without having a kid but now I have I realise if you can afford it everyone should do it ...... go to 4 days a week.

it's a massive improvement to work life balance

you say your parents are loaded.... without being too much of a vulture realistically are you looking at a large inheritance in 20 years time or are they a give it to a cats home type of people?

I have been saving wildly for all my life.. now my mortgage is paid off I am saving even more. my goal is retirement . £50k is nothing when it comes to retirement (unless you meant 50k per year in which case retire now :) )

I reckon I need about 300k and then combined with an old final salary pension I have worth about £10k.per year I can afford to retire just off the interest from said £300k.

however my pension pays out at 60. if I want to retire before then I need more.
unlike you I also have a kid which is a very expensive hobby. he will hit 18 just as I turn 60. if you don't have kids tho it will be way easier for you.
tldr if I were you i would cut your days to 4 and retire as early as you can.

btw you say mega savings don't allow early retirement.... why not? £60k in an ISA at 5% interest locked in for 5 years will pay out over £15k tax free.
5 of those simultaneously is £300k and without kids or mortgage was always what I was aiming for and is "only" 15 years worth of ISAs. (I had my plan in place long before I had a child which as I said has changed things a bit).
investing can earn far more but is not as dependable.
 
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Work less.
On a more verbose note.....:)

I'm in a similar position, though a bit older (44 today, yay me), no kids, no debts other than a modest mortgage. I've got enough in the bank to not work for a couple of years. I've already done the living abroad bit, spent the whole of my 30s overseas. Been back in the UK for 5 years now, and due to some work shenanigans (RTO = GTFO), we're deciding what to do next year.

Think we have settled on what we'll do. It is going to involve a move, and working less, at least for other people. I'll probably make a thread about it in the style of @Martynt74 's one, once the ball starts rolling in the new year.
 
btw you say mega savings don't allow early retirement.... why not? £60k in an ISA at 5% interest locked in for 5 years will pay out over £15k tax free.
5 of those simultaneously is £300k and without kids or mortgage was always what I was aiming for and is "only" 15 years worth of ISAs. (I had my plan in place long before I had a child which as I said has changed things a bit).
investing can earn far more but is not as dependable.
Living off interest long term you absolutely need to take inflation into account, otherwise your budgeting will fall apart quite rapidly, over timescales longer than 1-2 years.

I very much doubt we have seen that last conflict-induced inflation panic.
 
Depending on how long that 50k took to save, i'd be tempted to build it a little and then take time off work to go traveling properly. I think it would be a brilliant experience and much better as an adult with decent money to not have to penny pinch as much as usual travelers but still an adventurous spirit.
Could buy a campervan and explore Europe, or head to south America on a bike.

You'd have the money to tide you over once you then got back home until you found a new job.

I used to work with someone who lived like this. She's work short term contracts of 6-12 months, then take a month off to traveling around for a month and then rinse and repeat.

Much better than saving with the idea to retire early when you don't know what the future may hold.
 
Living off interest long term you absolutely need to take inflation into account, otherwise your budgeting will fall apart quite rapidly, over timescales longer than 1-2 years.

I very much doubt we have seen that last conflict-induced inflation panic.
this is very true. everyone is different of course however personally my final salary pension is linked with inflation and also once I hit 67 (likely 68) my state pension. will also kick in . right now I don't have all my payments into it to allow the full bubble however I will make sure it does by the time it comes to paying out.
 
btw you say mega savings don't allow early retirement.... why not? £60k in an ISA at 5% interest locked in for 5 years will pay out over £15k tax free.
5 of those simultaneously is £300k and without kids or mortgage was always what I was aiming for and is "only" 15 years worth of ISAs. (I had my plan in place long before I had a child which as I said has changed things a bit).
Because your income will go down in real terms each year, e.g that £15000 10 years ago, you now need about £20200 just to maintain your standard of living. Over long timescales it just compounds massively. Your plan to live off £300k cash will see you having less to spend each year and is highly exposed to interest rate risk.

investing can earn far more but is not as dependable.

Not can earn, it does return far more than cash long term. For anything longer than 5 years you really want to be invested.
 
I didn't say they were a magic cure. I said he needed them, specific advice for a specific person, although I do think it applies to the majority of cases. I don't mean to shrink anyone's head too much but if you pay any attention you'll see that for OP not having kids is something of a personality trait. It's far from a small deal, it's at the front of his mind. Something about it itches, and I think ignoring that is likely a mistake.

Of course there are parents of varying quality, but I don't think "deadbeat" parents are conservative, searching for meaning, self reflecting and looking to change. In terms of "but it doesn't fix for some", I suppose we shouldn't advise most people to eat right and exercise because some end up with bosh dysmorphia and eating disorders? See where this line of "not all though!" thought goes? Ultimately people are kind to a fault nowadays, erring on the wide of confrontation avoidance vs hard conversations, allowing people to just float about in their own heads. I'm afraid someone, sometimes, needs to say these things.

Not aware of the health issues but ref: not wanting to do something because of risks, yeah that's a perspefte, but sometimes an ommision is a greater risk than an act. Only individuals can know that really. My point of negative emotion aversion from the "buying decisions" thread applies here.

Im in a similar situation myself, got married last year and now we are having the occasional discussion about having kids. I have to say its not something i desire and my wife feels similar. But will i regret it in years to come? I honestly do not know.
We are both 35.
 
Not can earn, it does return far more than cash long term. For anything longer than 5 years you really want to be invested.

Yeah, although i think you need a balance. The main issue is the chance of a covid style crash. You don't want to be thinking you've got 500k and then wake up one day and realise you now only have 200k and need to start drawing it down! Absolutely fine if you can ride it out and have other income sources, but not if you're reliant on it.
 
I love to explore.
New places. New things. New sights and sounds. And physical achievement.

I know when I'm at my happiest is when I'm on my kayak, on sea. It's sensory overload.
Seeing a sunset over the hills.

I love my mountain biking. It's fast paced, pure and risky. If I do a bigger drop than before.. I feel. I achieved.

Day to day life, work. Is so mundane. Thinking, planning, solutionising. You can't think like that on bike on a new trail. If you do, you crash. I don't get the reward of achieving via work.

I miss very much walking my dog out in this environment. He's now ill and can't do this and it's really impacted me and him. It was something we did every week at least. I still struggle with the change.

All these things are instinct, in the moment, in nature, exploring new places.
My brain natural loves to plan, hypothesise, worry. But it does me no good. When I'm doing the above things.. All that goes. Start to worry about x, y, z..you Crash on a mountain bike!

I had my best holiday ever this year in Greenland. Absolutely no phone signal for 6 days. On day 1 it was a bit "oh man, people are probably worrying if I'm OK.. How. Do. I get signal".
But once I accepted I couldnt each day was like living in the moment. Planned for the day, no further. Saw wildlife I've never seen before. A place that felt alien it was unbelievable.



In day to day life this doesn't really happen. Ie work, home, tv for evening. Going out to places for a meal, a pub. This is all labeled by my brain as "mundane" and memories of it fade. Same as how computer games no longer give me joy.



I do feel I know what I love. I don't really know how to do more of it, enough of it. I'm also aware can't just "go live in the wilderness" as it would quickly become unpleasant!
I take a loooong time to come to decision. Especially important ones like the stuff in this thread!

Sure you can go and live in the wilderness, just like thus guy who i've been following for a few years. Started out in a place in Ireland and moved to Finland last year.

To summarise: Lives off the land becuase he says a regular job and life wasn't making him happy.

 
Yeah, although i think you need a balance. The main issue is the chance of a covid style crash. You don't want to be thinking you've got 500k and then wake up one day and realise you now only have 200k and need to start drawing it down! Absolutely fine if you can ride it out and have other income sources, but not if you're reliant on it.
Yeah thats why you plan and have a few years in low risk stuff like MMFs and cash savings.
 
It's all a balance at the end of the day. Live for today, but don't leave yourself destitute for tomorrow.

It's why I hate the expression "Live everyday as if it's your last". Well if it was my last, I'd not work, not put the kids in school, and to hell with everything..

Sounds to me like you just want more time for holidays. You don't have the worry of dependants, so make the job switch to something with more free time and enjoy the new time you get.

When I changed jobs from games industry to non-games programming, 11 years ago, it was the best thing I ever did in terms of having more time in evenings and weekends to myself.

£50K at your ages seems like loads to me, especially if that's in addition to pension savings.
 
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It was a risk but I’m glad I took it. You’ll feel worse about the choices you don’t make than the ones you went for but it didn’t work out for whatever reason.

Says the man it worked out for :p

This is what everyone says whose plans work out. Well, that and the people who didn't chase their dreams because as we all know, the things you imagine you could have done always work out in your head. Grass is always greener and all that.

Joking aside, if you can take some risks without it being catastrophic if it goes wrong it really can change your life. I've just been super lucky throughout my life to be in the position I am which is perhaps why I have a lot of empathy for those whos lives haven't turned out quite how they had hoped.
 
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