You are definitely on the right path if not already there. I’d also add that playing around with a compounding interest calculator can give you an idea of where you will be in 10, 20, 30 years. The numbers can be staggering if you are doing well. Of course I like to use all sorts of growth numbers to see where we’ll be - just because the past 20 years have been booming doesn’t mean the next 20 will, but then again they may still be fabulous. That’s why I like a best/worst scenario range. But once you reach your goals don’t be afraid to spend money on things you enjoy (car, vacation home, travel, whatever brings you joy). You won’t be young enough to enjoy it forever. If you never enjoy it and leave it to your kids and grandkids they will spend it (shirtsleeves to shirtsleeves in 3 generations). Or you can enjoy it and still leave a little to them. IMO the best legacy you can leave them is financial literacy and a paid for higher education.
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You are definitely on the right path if not already there. I’d also add that playing around with a compounding interest calculator can give you an idea of where you will be in 10, 20, 30 years. The numbers can be staggering if you are doing well. Of course I like to use all sorts of growth numbers to see where we’ll be - just because the past 20 years have been booming doesn’t mean the next 20 will, but then again they may still be fabulous. That’s why I like a best/worst scenario range. But once you reach your goals don’t be afraid to spend money on things you enjoy (car, vacation home, travel, whatever brings you joy). You won’t be young enough to enjoy it forever. If you never enjoy it and leave it to your kids and grandkids they will spend it (shirtsleeves to shirtsleeves in 3 generations). Or you can enjoy it and still leave a little to them. IMO the best legacy you can leave them is financial literacy and a paid for higher education.
Post: Measuring Up
Link to comment from February 3, 2022