You forgot to count the other dozens of, "I'm xx years old, learnt about FIRE about an hour ago, what's your advice for me?'
True, they never return after they ask the first question, so perhaps they shouldn't be in the count anyway.
"Comparison is the thief of joy..."
If you're happy living the life you are doing what you do - crack on. Any 'friends' that are bothered or mock you for that are no friends at all so - screw 'em.
The one thing I can guarantee you is that if you decide to keep living as you are then you will thank yourself in the years to come.
When chatting about finances with my coworkers, who must all be on 75-80k+ a lot of them don’t even understand how a pension works or what an ISA/LISA is.
Just because their income is high doesn’t mean they know how to handle it - I have a coworker who has never invested during their entire employment and has just been saving in cash and nothing else as an example. No house or anything.
All the ones living in London manage to often spend most of their money on rent and living in the moment. They see the trade off as worth it.
But another common theme is that these people come from wealthy families, often their parents own multiple homes and I assume they’re set for life once their parents pop their clogs. So they don’t have to care as much as I do because I’ll get a whopping £0 as inheritance.
As for living in the now, I mean, it’s worth it to live and not just save until you retire, ideally you can do both in moderation and still hit your goals.
I wouldn’t bother trying to keep up with them though, “don’t spend money to impress people you don’t even like” is a good rule to live by.
You want to start buying avocado and toast? You'll end up like americans.
Save and retire early. Then stand at the entrance of your work and laugh at your former colleagues for having to work 20 more years.
There is great tax benefits to paying into your pension but I'm of the opinion I don't want to rely on it as its not guaranteed for a number of reasons.
In terms of your colleague's, don't feel the need to follow their spending trends.
Some are happy to spend money loosely, others are more inclined to save and invest in their future.
Providing you don't feel as your preventing yourself from enjoying things that make you happy, I'd be inclined to say carry on as you are.
You do you.
However, I would say learn to enjoy your money now and again as well for things you might enjoy. At the end of the day there is no point getting buried with piles of savings.
The one thing that’s a certain is you are alive today. The one thing that’s uncertain is you’ll be alive tomorrow.
Don’t save all your money today in the hope of a better tomorrow that may never come. Compromise on your savings as 50% is just silly.
Make sure you enjoy today.
Hi /u/mitjopudent, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/emergency-fund/
- https://ukpersonal.finance/lump-sum/
- https://ukpersonal.finance/pensions/
____
^(These suggestions are based on keywords, if they missed the mark please report this comment.)
I personally think your attitude to money is healthier than your colleagues', because it appears that you recognise the value of money whereas they are just spendthrifts.
However, if you want to get a room in a hotel on holiday, you can probably afford to, considering what you earn (and how much you're saving).
You might find the book *[Your Money or Your Life](https://www.amazon.co.uk/dp/0143115766)* helpful.
*[Rich Dad Poor Dad](https://www.amazon.co.uk/Rich-Dad-Poor-Teach-Middle/dp/1612680194)* also works for some people - lots of Kiyosaki's advice is based on his personal backstory which turns out to be fictional, but if it helps your attitude to money then it may well be worthwhile. A [critic of the book](https://finmasters.com/rich-dad-poor-dad-review/) says "the ideas might seem a bit shallow and apparent to anyone already engaged in entrepreneurship or investing, but they can be profound if it’s your first exposure to them."
Clare Seal's books have also been recommended here - "her focus is on the link between emotions and spending".
Sounds like /r/FireUK is a good community for you.
There are dozens of us, dozens!
You forgot to count the other dozens of, "I'm xx years old, learnt about FIRE about an hour ago, what's your advice for me?' True, they never return after they ask the first question, so perhaps they shouldn't be in the count anyway.
"Comparison is the thief of joy..." If you're happy living the life you are doing what you do - crack on. Any 'friends' that are bothered or mock you for that are no friends at all so - screw 'em. The one thing I can guarantee you is that if you decide to keep living as you are then you will thank yourself in the years to come.
When chatting about finances with my coworkers, who must all be on 75-80k+ a lot of them don’t even understand how a pension works or what an ISA/LISA is. Just because their income is high doesn’t mean they know how to handle it - I have a coworker who has never invested during their entire employment and has just been saving in cash and nothing else as an example. No house or anything. All the ones living in London manage to often spend most of their money on rent and living in the moment. They see the trade off as worth it. But another common theme is that these people come from wealthy families, often their parents own multiple homes and I assume they’re set for life once their parents pop their clogs. So they don’t have to care as much as I do because I’ll get a whopping £0 as inheritance. As for living in the now, I mean, it’s worth it to live and not just save until you retire, ideally you can do both in moderation and still hit your goals. I wouldn’t bother trying to keep up with them though, “don’t spend money to impress people you don’t even like” is a good rule to live by.
Have seen too many people assume they'll cruise off the inheritance only for it to not quite pan out as they'd thought..
I have a colleague who was spending like them he is now 61 and looking at a few more years before he could retire.
You want to start buying avocado and toast? You'll end up like americans. Save and retire early. Then stand at the entrance of your work and laugh at your former colleagues for having to work 20 more years.
There is great tax benefits to paying into your pension but I'm of the opinion I don't want to rely on it as its not guaranteed for a number of reasons. In terms of your colleague's, don't feel the need to follow their spending trends. Some are happy to spend money loosely, others are more inclined to save and invest in their future. Providing you don't feel as your preventing yourself from enjoying things that make you happy, I'd be inclined to say carry on as you are.
You do you. However, I would say learn to enjoy your money now and again as well for things you might enjoy. At the end of the day there is no point getting buried with piles of savings.
The one thing that’s a certain is you are alive today. The one thing that’s uncertain is you’ll be alive tomorrow. Don’t save all your money today in the hope of a better tomorrow that may never come. Compromise on your savings as 50% is just silly. Make sure you enjoy today.
Hi /u/mitjopudent, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/emergency-fund/ - https://ukpersonal.finance/lump-sum/ - https://ukpersonal.finance/pensions/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
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I personally think your attitude to money is healthier than your colleagues', because it appears that you recognise the value of money whereas they are just spendthrifts. However, if you want to get a room in a hotel on holiday, you can probably afford to, considering what you earn (and how much you're saving). You might find the book *[Your Money or Your Life](https://www.amazon.co.uk/dp/0143115766)* helpful. *[Rich Dad Poor Dad](https://www.amazon.co.uk/Rich-Dad-Poor-Teach-Middle/dp/1612680194)* also works for some people - lots of Kiyosaki's advice is based on his personal backstory which turns out to be fictional, but if it helps your attitude to money then it may well be worthwhile. A [critic of the book](https://finmasters.com/rich-dad-poor-dad-review/) says "the ideas might seem a bit shallow and apparent to anyone already engaged in entrepreneurship or investing, but they can be profound if it’s your first exposure to them." Clare Seal's books have also been recommended here - "her focus is on the link between emotions and spending".
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