You have good income and my shoot from the hip perception is that solid savers hit 1M portfolio around 40. You don't say what your financial goals are and when you want to meet them.
Regardless, what you decide to spend on and how much is completely up to you and simply accept the potential trade-offs...such as working longer.
For example, I don't care about cars that much and the most I have ever spent is 25K for a 3 year old mini-van. However, our family of 6 does like to eat good food and we spend a pile each year for the privilege. We consistently save, but also remember to enjoy life and are satisfied and accept the inevitable trade-offs that come with it.
So, to answer your questions:
1) You are doing just fine.
2) No..that is very little spend for your income.
3). You like a nice car...so get yourself one. You save plenty.
4) If you are going to use those monies for an eventual house, you should keep it in a safe investment.
5) Don't fret too much...you will get where you want to be.
Best wishes.
Regardless, what you decide to spend on and how much is completely up to you and simply accept the potential trade-offs...such as working longer.
For example, I don't care about cars that much and the most I have ever spent is 25K for a 3 year old mini-van. However, our family of 6 does like to eat good food and we spend a pile each year for the privilege. We consistently save, but also remember to enjoy life and are satisfied and accept the inevitable trade-offs that come with it.
So, to answer your questions:
1) You are doing just fine.
2) No..that is very little spend for your income.
3). You like a nice car...so get yourself one. You save plenty.
4) If you are going to use those monies for an eventual house, you should keep it in a safe investment.
5) Don't fret too much...you will get where you want to be.
Best wishes.
Statistics: Posted by invest4 — Mon May 27, 2024 2:39 am