Balancing Saving Habits and Enjoying Life

Financial Princess should balance saving with enjoying life to avoid future regrets.

### Balancing Saving and Enjoyment: Advice for Financial Princess
* 💰 Financial Princess expresses concern about her intense saving habits, maintaining a savings rate of **30-35%**, which is affecting her ability to **enjoy life today**.
* 👫 At ages 30 and 32, she and her spouse have accumulated about **$270,000 in retirement** and **$30,000 in a taxable brokerage account**, yet she feels guilty about spending on family vacations.
* 🛠 A suggestion is made to use the **wealth multiplier tool** on moneyguy.com to visualize how their **savings could grow by retirement**, helping them assess their financial position.
* 💡 The discussion highlights that many individuals struggle with the balance between **saving and enjoying life**, likening it to other addictions that have **support groups**.
* 📉 The risk of becoming a "**financial miser**" is emphasized, as Financial Princess may be hindering family experiences by being **overly frugal**.
* 📊 It's crucial for her to evaluate if she is **ahead of her financial goals**, which could justify a **more balanced approach to spending on experiences**.
* 🌟 The advice encourages her to focus on **maximizing her 20s and 30s** to create lasting memories, ensuring she doesn't **regret missed opportunities** in the future.
* 💖 Ultimately, the goal is to ensure she lives a fulfilling life while still being a savvy saver, reminding her that "**you don’t get to take it with you**."

[Music] okay, this is kind of an interesting question. It's from Financial Princess. It says, I am so addicted to saving 30 to 35% savings rate that I'm worried I don't know how to turn it off. It is starting to affect my desire to enjoy today. My spouse is 30 and I am 32, and we have about 270k in retirements and 30k in taxable brokerage. I still want to cheap out on family vacations. I feel like I have a sickness. Any advice on how to know when enough is enough? I want to defer to you because this is one that I feel like this is like the sweet spot for you, but I want to tell them one thing that I would, that I think they should do. You should go to moneyguy.com resource, check out a wealth multiplier, and at 30 and 32 years of age, you should take that $300,000, a 27e Time at 30,000 after tax, and just put that in there in the wealth

multiplier tool to see at your ages what just the work you've done so far turns into by retirement. That's the first thing that I would do, Brian. What would you say to Financial Princess? Because you've had to, you've had this talk with me no less than a thousand times. Well, I love, first of all, Financial Princess, you came to the right place. But I love this because you're not the only person that struggles with this. I think a lot of financial mutants struggle with this, and this is, I, for years, I had it in the 401K presentations when we go out to employers and talk, but I think nobody was connecting with it because they're not wired like us financial mutants. I was like, there's all these support groups out there for addiction. You know, if you eat too much, there'll be somebody will tell you that. If you're addicted to alcohol or some other type of substance, there's usually a support group. What you don't see a lot of support groups for is people who get addicted to saving.

and investing, and the reason is because you become an Empire Builder. Now, with that positive part of it, let me tell you the negative is that I'm trying to keep you, and this is why we are your support group. I love that we have created this type of content is because I am a unique personality. Not only do I want to maximize your money, but I'm also trying to help you live a life well-lived where you don't look back and have regrets because we all know you don't get to take it with you. They don't let you pull the U-Haul into the ground with all your assets and your treasures that you've taken. So, you've got to make sure that you're balancing where you're a financial mutant, not a financial miser. And you said something that was kind of an indicator that you might be on that tipping point is that you don't want to do some trips like you're cheaping out on trips. You're cheaping out on trips. You might, you know,

your family is starting to pay attention to the fact that you're the roadblock on doing certain things. So here's what I would tell a. I want to make sure you're a financial princess, that's a financial mutant, and not a financial princess that's a miser. Is that do the homework first of all. Look at there's a reason we created and it's not just everybody's like did they just create this course in tools and when they grab. No, it's because we knew that there's somebody out there just like Financial princess. Know your number cuz you have to figure out are you ahead of the curve, behind the curve, or right where you're supposed to be. Because if you're ahead of the curve, which it seems like you're putting a lot of effort, take into account hey I'm a little ahead of the curve. Maybe I need to focus on making sure I maximize my 20s. I need to fam maximize my 30s cuz you and your husband are you're 30 and

32 maximize that decade so that you don't get to be in your 40s and you go, What was I doing? Why did I not take more trips? Why did I not stay in a little nicer hotel or maybe fly a little better? I want you to do the homework to know exactly where you are so that you don't shortcut yourself out of some opportunities to build memories because you do get to take those with you. I love it.

I'm Addicted to Saving (30-35%)! How Do I Stop?

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The Money Guy Show

Financial Princess is worried about her 30-35% savings rate affecting her enjoyment of life.

She and her spouse have $270k in retirement and $30k in a taxable brokerage, but she still feels the need to cheap out on family vacations.

The advice given includes using a wealth multiplier tool to see the potential growth of their savings by retirement and acknowledging that many people struggle with a similar saving addiction.

The speaker emphasizes the importance of being an Empire Builder through investing while also living a fulfilling life without regrets.

They aim to support others in maximizing their money and finding a balance between financial success and enjoying life.

The speaker warns against being overly frugal, as it may lead to missing out on valuable experiences.

It's important to recognize if you're a financial roadblock for your family and to strive for financial empowerment.

Do your homework and understand your financial situation to determine if you're ahead, behind, or on track.

If you're ahead, focus on maximizing your 20s and 30s to secure your financial future.

Maximizing Your 30s for a Fulfilling Future

Making the most of your 30s is crucial to avoid regrets in your 40s.

Taking trips, staying in nicer hotels, and flying better can create valuable memories.

It's important to assess your current situation and seize opportunities for personal growth and memorable experiences.