I treat retirement planning like Ron Popeil’s rotisserie cooker. “You set it, and forget it.” Index funds don’t need to be managed, and recurring transfers can be automated.
Medium term planning follows other people’s advice about normal budgeting, with specific piles for specific things.
Short term is extremely simplified at this point. Spend discretionary dollars at your discretion.
First, I completely agree with your thoughts on retirement savings.
However, that’s far from the only thing in “planning for the future”. The future is also things like:
when/if do I start a family?
should I get additional education to help my career prospects?
should I prioritize time with my elderly family members now at the cost of other opportunities for personal or professional growth?
should I put my efforts into growth for my spouse/child?
There’s no easy answers as many of these are mutually exclusive. It becomes a personal value judgement. You may only find out you made the wrong choice for yourself after you’ve passed the point of making a different choice. Such is life.
I treat retirement planning like Ron Popeil’s rotisserie cooker. “You set it, and forget it.” Index funds don’t need to be managed, and recurring transfers can be automated.
Medium term planning follows other people’s advice about normal budgeting, with specific piles for specific things.
Short term is extremely simplified at this point. Spend discretionary dollars at your discretion.
First, I completely agree with your thoughts on retirement savings.
However, that’s far from the only thing in “planning for the future”. The future is also things like:
There’s no easy answers as many of these are mutually exclusive. It becomes a personal value judgement. You may only find out you made the wrong choice for yourself after you’ve passed the point of making a different choice. Such is life.