When Can I Stop Saving and Start Living My Dream Life?

A Reddit poster is wondering when he can stop focusing so much on savings and start living his dream life.  But, he’s not sure how to decide when he’s hit the point where he’s set himself up for success and can start doing the things he wants.

So, is there a point when you’ve saved enough and can start enjoying your money, and how can the poster know when he’s hit that target?

Saving a lot early has big benefits — but is this Redditor sacrificing too much?

The Reddit poster explained the details of his situation, and it’s clear that he’s making great progress on his savings goals. He is 24 years old, works a federal job for $56,000, and he doesn’t love his job. He also lives with his parents. Because he lives at home, he’s been able to save a lot of money and already has $72,000 in investments and savings set aside. 

However, he also says that he is very discontent with his life right now. He’s jealous of his friends who he says are “spreading their wings” and thriving in new cities. Right now, he wants to find an apartment in a place he loves, and he wants to endure the struggles that come with stepping outside of his comfort zone and “forcing” himself to grow. So, he wants to know when he can decide to take the leap despite the fact that doing what he is dreaming of will cost him a lot more money. 

Ultimately, the reality is that the Redditor has already saved a lot more than most people his age. And, since he has a big financial cushion and not a ton of financial responsibilities at this phase, he shouldn’t necessarily keep living a lifestyle he doesn’t like when now is the prime chance for him to begin building the life he wants. 

Finding a balance is key, so you don’t waste your opportunities

Many Reddit users pointed out that the best thing for the original poster (OP) to do would be to try to find a balance.

Sure, everyone could save a lot of money if they just lived at home with their parents and never went out — but this would not make for a very happy life and would squander their opportunity to enjoy their youth. On the other hand, if the OP were to just start spending recklessly and even spend some of their $72K in savings, they’d make the future harder for themselves.

The OP needs to find a middle ground. This likely means making a budget that prioritizes some savings (like 20% of income ideally) while still providing enough money to go have adventures — even if those adventures need to involve living with roommates or looking for free events in an exciting new city rather than dining out at lavish restaurants.  Since the OP also doesn’t like his job, he may want to try to pursue new career opportunities that would help give him enough money to both save and have youthful adventures. 

Talking to a financial advisor could actually be very helpful here, as his advisor could help him set specific goals for his future based on what he wants to accomplish with his money. That way, he’ll know exactly how much he needs to save to stay on target and how much he has left over to spend guilt-free to spread his wings. Advisors aren’t just for rich people, and talking to one early in life to chart a financial path forward could be a great investment. 

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