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Started by nycrite, September 12, 2018, 11:24:33 AM
Quote from: rtysmith on September 13, 2018, 11:02:33 AMMaybe it is a new type of FIRE...FU FIRE...
Quote from: nycrite on September 12, 2018, 11:24:33 AMBeing a meticulous person, I tend to think through most financial decisions, but I wonder if I'm trading the freedom afforded by [eventual] FIRE with constant mental gymnastics. I've tried to take a more hands off approach and tell myself, "As long as I save X% each year, I'll hit my goals." But I find it hard to feel in control without having at least some engagement in the weeds of everyday spending.
Quote from: defomcduff on September 14, 2018, 06:23:16 AMI resonate with this idea very much. We practice this in my family.We have certain savings % targets. As long as we're hitting them, we don't worry so darn much. We're aiming to save 20-40% of gross income. Some years it's more, some years it's less. But as long as we're in this range our financial spreadsheets look a-okay over the long run.If you're a high earning professional, your mental energy is better spent advancing your career than eeking out 2-3% additional savings.I'm guessing not everyone would agree with this approach, but it works in our family.
Quote from: nycrite on September 14, 2018, 07:18:36 AMMental sharpness (AKA time) is valuable, and if I'm burning brain cells on a daily basis for personal finance, does this come at a greater cost such as lower career performance or even lower health due to stress?My family and I are fortunately wired to NOT over-consume, so I'm tempted to make a 2019 goal to check in on finances at highly spaced intervals--perhaps quarterly or even bi-annually. As long as I don't get overdraft emails, the system will take care of itself, because most of my savings are automated anyway.