What good is saving all your money and never actually spending it?
Posted By admin on August 4, 2010
I have been saving and saving and investing and investing for years but never really spend much. So what good is saving all this dough if you don’t enjoy it?
I agree, there is no good in saving if you don’t know what you want. BUT, what’s even worse is, wasting money and later finding a better place to spend it.
If you think you’re unhappy saving money, you should ask "would spending money on ___________ (hot dogs, shoes, tv) make me happy"?
If you’re happy now with what you have, I would still encourage saving until you find something you like to spend it on later.
Here’s a few
1. Retirement
2. risk of job loss
3. insurance or your own medical, legal expenses
4. Travel
There’s no shortage of ways to waste money, so I’d just keep saving until the "right" way to spend comes along, things are MUCH MUCH WORSE for people today who have debt, no savings and no job. You’ll be happy one day you need money.
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Because when you are older and retire, that is what you are going to live on.
References :
Well we retired at 45 and 55. We have the means to travel, enjoy our home, hobbies and each other while still in good health.
It is all in how you look at the savings. We pictured it as providing a fun and worry free retirement. Not as depriving ourselves
References :
Think about it, with all the money you saved, you can use it when you retire.
References :
I agree, there is no good in saving if you don’t know what you want. BUT, what’s even worse is, wasting money and later finding a better place to spend it.
If you think you’re unhappy saving money, you should ask "would spending money on ___________ (hot dogs, shoes, tv) make me happy"?
If you’re happy now with what you have, I would still encourage saving until you find something you like to spend it on later.
Here’s a few
1. Retirement
2. risk of job loss
3. insurance or your own medical, legal expenses
4. Travel
There’s no shortage of ways to waste money, so I’d just keep saving until the "right" way to spend comes along, things are MUCH MUCH WORSE for people today who have debt, no savings and no job. You’ll be happy one day you need money.
References :
http://recessionguy.com