Can you save too much?

latecomer

We are at the stage of being able to pay off our mortgage in the next year or so will need to focus on pensions/investing and savings for the future. Would like to retire by 55-60 but I guess that depends on how much we save and how well any investments do between now and then.

Some friends/relatives think we are odd as I would consult with my OH before spending pretty much anything on myself or even her. She is mostly the same too which helps

We bought our last 2 cars outright although both were a few months old but that was mainly to ensure we have something safe and reliable to transport the family. So we dont mind spending money on important things but not on things we dont value such as clothes, material goods, gadgets etc.

Pincher

lisa110rry wrote: »

Gosh, is that true? It's so long since I had a job interview! What is considered to be the "right" answer?

Oops, I meant Money section interview, like Dame Kelly Holmes, or Ann Widdecombe.

jennyjj

bigfreddiel wrote: »

Own my house, own my car, no debt, no dependents, have good pension - worked out the same as my full time working wage, and have getting on for £1m in various investments.

And I still have trouble justifying spending anything over £30!

Does anyone else have a similar problem?

fj

Nice problem. I see where you are coming from, though wonder what your age is.
My personal philosophy is 'never look at the price of what goes in my tummy or what gives me real pleasure' but 'remember that frugality gave me this luxury'

Visualize your beneficiaries realizing what they just inherited and how they will spend it. Would you approve?

PoorGuyNextDoor

Commenting to come back to this thread later.

iAMaLONDONER

bigfreddiel wrote: »

Having had the savings bug since my thirties I think I've saved too much and not spent enough!

Own my house, own my car, no debt, no dependents, have good pension - worked out the same as my full time working wage, and have getting on for £1m in various investments.

And I still have trouble justifying spending anything over £30!

Does anyone else have a similar problem?

fj

If you haven’t already, join the forum to reply! [purplesignup][/purplesignup]

I would say that you can't save too much but that you can save 'too hard' -e.g living off bread and water with thousands in the bank...