We’re in the age of internet outrage, so when I post something like “if you invest $500/month you’ll have about $3 million bucks in 40 years”, it seems to upset some people. I get comments like “A MILLION DOLLARS ISN’T EVEN THAT MUCH” or “WHAT KIND OF LIFE IS IT IF YOU NEVER HAVE ANY FUN”.

Of course neither of those all caps yellers are fully correct. A million dollars IS a lot of money (and yes, it still will be in 40 years, but of course not as much as it is today thanks to inflation). And I don’t think investing $500/month prohibits you from having any fun in your life.

But there IS a bit of truth in there too. It IS possible to have the pendulum swing too far to the savings side. If you spend your entire working career pinching every penny, never spending, forgoing experiences, waiting for the pot of gold and the end of the financial independence rainbow, you’re going to find yourself disappointed. Worse, you might find yourself being 50, 60, or beyond and realizing you were carelessly spending your most valuable asset: Your time. We can “catch up” with money later in life by earning more, spending less, and saving more. But there’s no way to get back your 20s and 30s.

I have some of these regrets. I started a company as I was graduating college. I worked on it for 12 years before I sold it, then another two after the sale. I wasn’t doing all that much young-twenties stuff in there, instead I was doing startup stuff. Then in my late 30s, I wanted to go do the backpacking in hostels thing now that I had the money, and I ended up feeling old and out of place. While all the 22 year olds were on a gap year exploring the world, I was a 36 year old awkwardly not fitting in.

So for sure, don’t spend your life broke and stressed about money. Make sure to save and invest. But also make sure to spend your most valuable asset wisely as many opportunities that are here today may be gone tomorrow.

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy