How do you balance improving cost of living vs hitting retirement goal earlier?

Income and Expense

5 years ago my husband (27M) and I were at HHI (27f) 140k in HCOL. After job hopping and promotions later, we are closely at 300k now and since then we have managed to avoid much lifestyle creep. We are at around $8500 a month that includes 3k on rent in HCOL. Our current NW is 550k and we splurge on food/travel. Currently maxing 401k.

We don’t want kids so buying a house is not really in the near future (maybe condo within next 5 years). Part of us likes knowing we can get to retirement earlier and earlier the more we make (tho we don’t anticipate our HHI to go up as exponentially as we are settled where we’re at). We used to say we wanted to retire by at least 60 after graduating college. The more we make we now find imagining retiring at 55 now 50 or 47 years.

How do you balance wanting to enjoy life now vs hitting your retirement goal earlier?

Posted Jan 15, 2025, 3:42 PM UTC

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