Again…much has happened to me in the past six months. Feel free to read my previous posts. One (seemingly) positive thing event in my life right now is that I have some money saved up (about 18k). Somehow I worry that my choice to keep working and save money says something negative about me. I decided to work hard this year and endure my commute to make this happen, but perhaps my values are misplaced. Maybe I should work less and enjoy life more. Maybe I am a money / class obsessed person and I don’t appreciate the simple joys of life. I do like working though. If I had chosen not to work this year I might have been in debt at this point. Can accumulating wealth really change who I am and how others perceive me? I’m only 30, so for some people 18k will seem like alot, and others, not very much. I also own my car and have no debts.
Invest in your future.
Well, first of all, I don’t think you’re anywhere near life-changing amounts of money, if it’s any consolation. But regardless, why the hand-wringing? Just do what you enjoy doing. Accumulate it, hide it, flaunt it, whatever. Who cares?
30 with an 18k retirement fund? Doesn’t sound like that much to me. If you really feel badly about it, donate some.
Save up too much, get too rich, and people will start to think you’re a Republican.
And you don’t want that to happen!
I do have about 30 K In my teachers retirement plan. This is the most money I’ve ever had in my life so it feels a little strange. I’m on track to have 40 k By the end of August.
That’s great you are saving money. But you have nowhere near enough to even consider doing something drastic that involves not working.
18k sitting in the bank is unlikely to be remotely enough to change your essential self or how class-conscious people see you. If you had done some other job that resulted in you being in debt, how much extra time would you have actually had all year? What simple joys did you miss out on by working? If you wish to be a person who likes simplicity, then consider the extra money to be a safety buffer against the possibility of sudden misfortune ruining your life.
Unless you are the sort who obsesses over their money as a sort of social score-keeping, money is only likely to change you insofar as it changes the things you do. If you develop an affinity for expensive things, like vacations or fine wine, such that you start to take those things for granted, then yes, money will have changed you, but not necessarily for the worse.
Stop working? At 30, with almost no assets? Holy crap, don’t do that.
Look up the online retirement calculators and then see if you feel so flush with cash.
It’s not that easy to enjoy life when you’re broke. And 18k at 30 isn’t exactly a shitload of money.
So it’s win-win. You like working and working = more money. What’s the problem?
Yeah. They will perceive you as an adult who isn’t a total loser. Some people won’t like that. Because you have a job and a source of income, you may be perceived as “selling out” or “used to be cool”. You shouldn’t be hanging out with those people.
Were you going to travel around the world this year?
I was thinking about it. But I think I’m leaning away from that idea now.
Do you feel like you’re deprived? Is there somethig that you’d like to possess (new computer, a Kindle Fire, a guitar) that you’ve held off on buying out of fear of being broke?
Well, now is the time to splurge and get yourself a little playpretty. Hell, maybe take a week-long vacation somewhere or do something fun like take a cooking class.
But as has been said, $18K isn’t so much money that you have to think differently about your life. With the economy still being kind of iffy, I’d hold onto it and use it as an emergency fund.
The only explanation I have for your situation is you’re past the stupid phase (13-29.)
You should have a financial plan that sees you through retirement. If you don’t have one, this is a good time to start. What you’ve saved so far is one baby step in the right direction. Don’t let it blind you against making sure you’ll be OK when either times get tough or you’re too old to keep working at the same pace.
I think part of my feelings are that I know quite a few people who don’t make very much money (fellow musicians who aren’t teachers.) who may be somewhat resentful over their financial situations, and that when my ex dumped me she told me: “there is more to life than money.” I am a teacher, not an oil tycoon. I am trying to reaffirm that my choice to continue working was a good and responsible one.
I’ve said it before and I’ll say it again.
Quasi, every post of yours that I’ve read has screamed out that you have different aspirations than your current path is taking you towards. What I see here is that you are trying to take some comfort in hitting the classic middle class landmarks, but I’m fairly sure in your heart you aren’t entirely convinced that is really all that satisfying.
The world is made of all kinds of people. Many, perhaps most, are pretty happy living a comfortable normal life. And life is a freaking struggle so if you can make it to that point, it really is an achievement.
But what I see in you is that you are young, you have few things tying you down, and you are hungry for something a little more interesting. I have no clue what that is, but I bet if you think about it real hard, you could figure it out. You’ve got nothing stopping you. You have a good head on your shoulders and I know you aren’t going to completely waste your money and end up broke on the street. You’ve got plenty of time. You’ve got a profession that will find you work literally anywhere you step foot on the planet.
If you want to do something, now is the time and the only thing that is holding you back is yourself. I have no idea what this “something” could be. It could be anything from moving to the nearby city to moving to Kabul to become a war reporter. But there is very little that is impossible right now, and that moment won’t last too long so think long and hard about if you want to grasp it.
Actually, I’ve got a buddy who is very much like you. He studied teaching, taught here and there for a bit, then moved to Korea and became a professional video game commentator. He stayed a couple years, wasn’t really too taken with it, and recently moved back to the States, got back together with his old girlfriend, and took up teaching again. Basically nothing changed except he’s got some really great stories about his years 30 and 31.
Anyway, saving money is good. It’s not the only good thing, but it’s good. Never be dumb with money, but you aren’t dumb so that won’t be an issue. But put some good long thought into what you dream-life path looks like, and if you are anywhere in that same neighborhood. Think hard about what makes you happy, not what makes other people think well of you. And if you figure out that you’d rather be doing something else for a while, make a plan and go do it. Of course, you probably aren’t going to be a rock star or a fighter pilot, but there are millions of really cool life paths that are actually very much within your reach. The only thing thats keeping you from those is you.
(Of course, if you do figure out you really are happy as a small-town music teacher, stick with it. But own it, don’t let that gnawing dissatisfaction drive you nuts.)
Let me get this straight. You enjoy your work (except for the commute) but you feel bad about it because your friends who don’t have any money resent you?
Congratulations on being mature. Congratulations on doing something good with your life. (Not that music isn’t, but if you were a cigarette salesman or something I could see you being unsure of your path.) And congratulations on starting on a path where you won’t face retirement with fear.
I’m 30 years beyond you. and I am real glad that I started saving when I did.
If your ex dumped you because you had money, you are well rid of her. (Using her from here on.) Did she want you to be poor?
Yes indeed you are responsible. Good for you.
Keep at it. Unless you think it’s noble or unselfish to end up having to rely on people to take care of you when you’re 65.
I don’t get it.
You’re being fiscally responsible and doing the right thing, and you feel bad because a bunch of non-teacher musicians you know are resentful over their financial situations?
Don’t let them bring you down- you’re doing the right thing! Working hard and saving money is nothing to be ashamed of- it’s your money to do with as you will, and if you choose to save it, about all I can say is that it’s worth investing wisely so you can earn a return on it rather than letting it slowly succumb to inflation in a savings account or something like that.