$50,000 Dilemma
Married Ages 40 and 44
Combined Income = $235,000
Retirement Savings = $925,000
Net worth = 1.4 million
Pensions in Retirement = $85,000 (Can access as soon as we retire which is 8 years away
Social Security - Our State allows us to collect SS which we will do at 62
Debt = $105,000 on 2.25% loan - 15 year mortage (about $400,000 equity on property)
Debt 2 = $220,000 on 7% vacation rental that pays for itself each year. Interest is high but we dont pay a dime.
$50,000 - We have saved up $50,000 and are considering joining a golf club or a country club in our area. There are a few to choose from and range from buy ins from $30,000-$50,000. Dues range from $700-$1200 which we can easily afford and we save around $2000 extra each month after we fund retirement. If we did join a club our retirement savings would go to %10 of our income but have the pensions etc.
At what point did you decide to live a little vs keep grinding and saving? We have done really well for our ages and the amount of money we make. We still go on vacations and do what we want when we want so we dont feel like we have missed out. Def could stock it away and keep pushing the needle but wondering when is enough.....enough? Anyone who has decided to splurge in life is there any indicator on when the time is right? We do have two kids but college is paid for