I’m in my 20s and trying to figure out the best way to live my life. Would you say it’s smarter to have been less financially successful in your 20s but traveled 4x a year to beautiful destinations, dating foreign men and making unforgettable memories? Or do you wish you had held onto every dollar, worked hard, and set yourself up for a more financially stable future?
I just have this wanderlust about me but i worry my lifestyle and desires might set me up
for a bad future!
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Considering your age, and the state of the world, …
Save your money so you can with stand a job loss for awhile without it becoming a major issue. What this means for you depends on your living situation. Like do you have a large safety net in case something happens.
Once you have that safety net in place, spend some time traveling and enjoying live.
What this means based on my limited knowledge from your post. Travel to beautiful places twice a year – not four times.
More money 100%.
You’re young, explore the world and have fun. Don’t put things off, Carpe Diem!
balance is key. experiences shape you, but financial stability gives peace of mind. enjoy travel and adventure, but also save and invest wisely. future you will thank you for both memories and security.
Not your question but for myself the answer would be to invest less in people who I am ultimately going to leave behind
aim for both.
I can spend $100-$500 on eating out, hobbies, and saving for future events. and save about $500 for investing.
$500 a month for 40 years (at 7-11% APY in a typical ETF), would result in $1.2 to 3.7 million
majority of this generation’s biggest expenses is rent, car, and food. aim to find a good cheaper rent (my friend is spending $1800 on a 2 room apartment by himself, if he found something for $1000, that’s $800 in his pocket a month).
aim to get a good ‘reliable’ used car (toyota, honda, Lexus)
and aim to cook food at home (my meals are $1-3. vs restaurants are $5-10 on average. so I can live on $90-270 a month, vs spend $450-900 a month eating out. I can still eat out 1-2 time a week and still be below $300 a month).
More money for sure. I was 53 when I finally did my lifelong bucket list of skydiving.
In a good place but continue to save. For our retirement, for our kids. Last thing we want is to be a burden to our children.
Live for today and planned for tomorrow… If tomorrow never comes at least you enjoyed today and if you don’t plan for the future and you live to be old, you’re kind of screwed
I spent a lot of money on a house, yard, furniture, and crap to sit around the house. I wish I had spent less on that and saved more and went on more vacations.