Enjoy Young Life or Enjoy Retirement

Let’s keep this simple.

To enjoy retirement and the ability to retire early then we must give up some enjoyment of our youth.

Whether that’s by working more, living frugal, investing over discretionary spending and so on.

My question is...is it worth it?
I have to say in my life experience (I’m 37). The happier retirees I know are actually those that didn’t do any of those. Sure they are now living off a pension, but they just seem happier.
I admittedly only know a few self funded retirees and they are actually quite miserable, and more so they still live that same lifestyle....I think it became so engraved that they can’t just turn it off and enjoy all the hard work.

I’m not arguing for one way or another. Im just going off observation and ultimately what’s the point of life but to enjoy it?

 

They are not necessarily mutually exclusive. If you do frugal right, you don't feel like you're giving up anything, so I enjoyed young life and early retirement.

 

I think this is a good approach.
My personal journey was to spend and enjoy all working income until 25yo, didn’t go to Uni, then worked super hard until just past 40 and retired on a very healthy passive income.

 

I wish I had someone guide me this way in my earlier years. Wise words.

For me it’s balance. Yin and yang.

The 20’s in particular is a great phase of ones life and a time when generally most have great health, are in discovery mode and experiences that significantly shape our future.

I chose travel and life experiences in my 20’s. I worked my arse off but any annual leave was spent abroad. I would often be on a plane the night my leave started and would fly, land and head straight to the office on return. 21 countries and 50 cities later no doubt my bank balance took a massive hit from travel as well as poor investment choices but cest la vie.

Travel and life experiences are not experienced in the same way through each decade of life. So I say find a way to do both. Live and invest. I wish I had abit more on the investing side but still wouldn’t change anything.

 

Good advice!
But what does that 20 years look like is what concerns me because I’m literally smack bang in the middle of that,

I partied hard to 30 which included some great travels. The past 5 years I have achieved a lot and that included investing, developing and making good money, huge career growth.

But TBH do all that I sacrificed a good chunk of time. My wife does question me...why do you work so hard?? And it couldn’t be truer as I just welcomed my first child.

My answer to her....so we can have a great life in retirement and not have to worry about money.
But I’m just questioning if that’s even a good answer???

I know I won’t know until that time comes.
But right now Im not convinced the idea of an early retirement is worth the sacrifice of enjoying every minute.

 

I do understand this but I also think there is an element of ignorance is bliss.

I enjoy a paddle pop but it sure doesn’t beat a magnum once you’ve had a taste

 

I think you got to enjoy it while you're young. When you're a codger you won't have the energy and that's why you get grumpy...."by golly young lass if only I was 20 years younger".

 

Also thinking future generations.

 

You can never predict the future

You might get hit by a car, you might live till 100

What my point??

I dont know

 

But if you had 3 mangums a day, the novelty will wear off!

 

It would only wear of once I get on the scales...

 

You raise some good points.

On the flip side its also no fun living from pay packet to pay packet.

whether its worth it may be dependent on results.

Is it worth it if you end up retiring marginally better than the old age pension??

I think the stats are stacked up against investors retiring/achieving 6 figure income in retirement.

Not saying this is a must, but perhaps something to weigh up, what are the other options??

 

I don't really understand some of the comments on this thread, given we are on a property investing forum. I see houses all over the place that could be split into two blocks. Sell the existing one to pay out the loan and have a free block of land to sell. Even after CGT, GST etc you'd still make some profit to top up your salary. Do one a year. Need to think outside the box a little more.

 

Compound interest is your friend surely? Invest early, even a small amount between 20 and 30 and let time do the work

 

I agree 100% .... I'd rather retire earlier on a lesser income than work an extra 10-30 years just so I could live off 100k+
You need to adjust your lifestyle so that you're happy to live off a smaller amount.

 

You partied hard until 30, you're now 37 and worried about sacrificing too much by working hard? You've only been at it for 7 years and sounds like you're doing some investing to add to your income and assets. Keep investing actively along side your job. If you do well it shouldn't take more than a few more years to be financially independent or very close.

 

Yes Enjoy the today, thing is humans wont do this they always look at the future or worse the past...

Damn we are a flawed lot

 

Going for a cruise at 65 is so much more fun than snowboarding at 26. Right?

 

I'd say that makes us more intelligent than animals