AIBU to save less and spend more enjoying life now?

[windywhale]

I do all the sensible things; pay extra into my pension, save additional money to bridge the gap between retirement & pension. Save for my dcs uni costs/deposits.

However with the current economic strife my money just isn’t going as far & I can’t afford as nice holidays, days out, renovations etc.

Sometimes I think fuck it, I should just save less but then i’m very conscious that uni costs keep going up & up, the state pension may not exist when I’m older, it’s likely I will need private healthcare etc.

Obviously I’m lucky I have money left over to save but I thought once I got over the childcare years I would have more money in my pocket & be able to enjoy my hard work more.

I feel like even with savings life is getting more & more expensive so perhaps I should enjoy it more now

If I don’t make it to old age though at least there is money for DH and the DC for security/ to start their lives.

I think there’s a middle ground. I’m 46 no kids. We currently trying to pay off the mortgage early. I save monthly. I pay into an NHS pension. That’s it. Once the mortgage is gone savings can increase but i alsowant to travel more while can but work hours may eventually decrease as i age.

Life is short and i don’t want to wait till i retire in twenty years. My mum died well before the current age for state pension and my dads health declined early 60s. So we go on the holidays( euro city breaks and u.k.) meals out, days out, gigs etc but within our means. I don’t need ‘stuff’ or expensive clothes or bags. I earn 30k i don’t have that kind of cash.

Currently saving for a big long haul trip for our 50th.

I think it’s crucial to have money in old age . You are at home more so will need the heating on all the time in winter , good quality food and things that young people never consider eg chiropodist because you can’t reach your feet , money for gardeners , cleaners , care in fact anything you don’t havd physical or mental capacity to do yourself . Don’t rely on others to meet your needs , be self sufficient. Compound interest is amazing , a small monthly sum invested over years can bring a tidy sum . Putting that aside for elderly care doesn’t mean you can’t enjoy holidays etc now . Unless you definitely plan to check out young which most of us don’t then provide for yourself because as someone who’s just retired it will be miserable without money .

I’m worried that if DH goes first, unlikely due to good genes, I’ll be left having to fend for myself as his kids won’t and there isn’t anyone else. So I’m still squirrelling money away for a more comfortable old age.

I have had a lot of health issues in the past 10 years and it has reminded me to enjoy life everyday because we are never guaranteed a tomorrow.

I am still careful with money but I make sure I do things I enjoy (hobbies, sports).

I did a fair amount of travelling when I was younger so I don't feel like I missed out on that.

So OP I would really start doing things you enjoy now because once you retire there is no guarantee you will have the health and energy to enjoy life anyway...

Having a public sector pension will still give you flexibility to retire earlier.

I don’t go into debt, but I don’t save either. I could get hit by a bus tomorrow.

Have to respectfully disagree re holidays. My most desired destinations are insanely expensive (Orient Express, Kenya, etc) but I also have an amazing time on my cheap European getaways. I might never get to Aman Utah, but I can enjoy plenty of cheap trips to Italy that I love and are great value for money.

The international holidays and mini-breaks I’ve had as an adult have been some of the most meaning and fun experiences of my life. I’ve never regretted spending money on holidays and shirt breaks.