I'm 33, and am trying to do the investing thing... No student debt, engaged to someone w no debt... And just got into a situation where I can contribute to 401k (thank school and training for the delay), and was reading about 401K Roth... Interested in thoughts...I already do the back door Roth IRA, and try to invest in vanguard mutual funds...

Finding it difficult to balance planning for the future (marriage, kids, retirement), and enjoying some of what I've worked so hard to get..

FYI I'm a few bourbons in, but TIA

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Posted by Huey Lewis

Member since Oct 2013

4653 posts

Posted on 2/22/15 at 12:00 am to quadfest

Do you think you would ever regret being financially responsible?

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Posted by quadfest

NOLA

Member since Aug 2010

232 posts

Posted on 2/22/15 at 12:23 am to Huey Lewis

I watched my dad and mom being financially responsible their whole lives, and never spend a dime... Now too old to enjoy the money they worked so hard to earn..

I don't think id regret, bc i know it's the responsible thing to do, but just can't seem to shake the idea that u work so hard and save, and by the time u can enjoy it, ur too old to, rather than trying to enjoy it now.

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Posted by Layabout

Baton Rouge

Member since Jul 2011

11082 posts

Posted on 2/22/15 at 1:03 am to quadfest

quote:
I watched my dad and mom being financially responsible their whole lives, and never spend a dime

I have some shiftless relatives OTOH who spent every dime they earned and then some. When they got too old to work and the one member of the household with a decent pension died, they lost their house and are now living in dump of an apartment in a bad neighborhood and eating canned beans five days a week. I've propped them up for years but finally had to stop when they started coming to me every month. Believe me, you don't ever want to find yourself in that situation. After you've provided for your retirement is when you start indulging yourself.

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Posted by Weaver

Madisonville, LA

Member since Nov 2005

27722 posts

Posted on 2/22/15 at 7:13 am to Layabout

I've done the same. Spent a lot of money instead of investing like my parents told me. Thank god I changed my tune and started contributing to a Roth ira, although I stopped, and my 401k at work. I have about 55k and I am 40. Just hoping I didn't start too late. I have seen my mom save then retire and die shortly thereafter. Also saw my grandparents enjoy their retirement early but I know they both busted their asses. Grandmaw was one of 12 kids. Grandpaw served in WWII in the navy and got hurt on the job at the railroads. Had some family issues too. After losing all of them, just decided to do what I can to sock most of it away and save for later.

I agree better to have later than now. Such is life.

This post was edited on 2/22/15 at 7:14 am

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Posted by kaaj24

Dallas

Member since Jan 2010

608 posts

Posted on 2/22/15 at 7:59 am to quadfest

Why can't you live and save at the same time? Don't max out your mortgage, buy a decent car not one for $50k etc. the biggest thing that helped me is. Not caring what others think. Live your life for you not someone else.

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Posted by quadfest

NOLA

Member since Aug 2010

232 posts

Posted on 2/22/15 at 9:59 am to kaaj24

All very good points... ESP Kaaj's point about not caring about others... Now that my friends and I are in a position to buy nicer things, I have friends driving ridiculous cars and talking about buying houses that I think are insanely priced... But I suppose to each his own, and try to find the balance with living (not necessarily lavishly) and saving for retirement...

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