Open Discussion on why I think maxing all Retirement Accounts is not always the best option

Edit: With the first responses, I should have said income is clearly the factor here. This is more for those in the middle or those making $55-70K/year who get a raise and are now making $75-90K/year. Really anyone who gets a large raise one way or another, no need to live exactly the same and save every additional dime. Enjoy some of it now is my point

Edit 2: so some think I am saying you can’t access money in retirement savings GS prior to retirement. That is incorrect. Tools like Roth conversions are available. However that is still a 5 year plan. There are some great links with great savings I formation below. Others are misunderstanding the entire post. I am all for savings and retirement. The whole point and thought process is to enjoy your life. As someone below said, life isnt a sprint to the finish line, it’s a marathon to enjoy along the way.

Edit 3: yes I understand there are plenty of exceptions to the rule, my wides grandfather was playing golf through the age if 90, in comparision my father due to work injury cannot play gf at the age of 65. This is a general discussion that applies to the majority. Not the uber rich or exceptions to the rules. Everyone has their own situations I understand that as well. This is just a reminder to live your life dont run through it looking at the end to enjoy it that’s all

Edit 4: I really appreciate all the feedback there are some very good points back and forth which is what I was hoping for.

Edit 5: last one, final thoughts are really there needs to be balance. Future and retirement savings are very important but so is living your current life and gaining those experiences and memories along the way. Balance is key

I love this sub and get a lot of great advice here, however I always see “MAX YOUR RETIREMENT BEFORE ANYTHING ELSE!”

I understand you want to be in a good financial situation when you retire but from the other side of the fence what good is having all of that money if you cannot enjoy it?

Should you invest in retirement? Absolutely, should you throw every dime you have to max every single thing possible? I dont think so and here is why:

  • A LOT can happen over a 40-45 year time period
  • From a general perspective there is a much higher chance you can enjoy that money more in your 20-50s than 60+
  • You may not physically be able to do things in retirement you want to do now. Such as longer more exotic adventures/vacations, various physical activities
  • You may not be mentally able to do or enjoy things as much after retirement
  • Things, places, trips may no longer be an option in 20-40 years from now

I feel as if too many on this sub are so concerned with retirement they forget about the present. As terrible as it is to say or think life has all kinds of crazy things happen. Some people live to 60 some to 105. Again I am not saying live dollar to dollar and not disregard retirement. But I do not think sacrificing vacations, or some more expensive QoL items, dinners here and there, etc. are worth making sure you put 19K a year into your 401K. Compared to spending an extra $7K/year on yourself/well being while still putting $12K/year into a 401K.

My point is enjoy your life, be responsible, but don’t forget the majority of your life is pre retirement. Working sucks enough give yourself breaks, splurge once in awhile, but more importantly don’t forget to enjoy the present without focusing too much on the future.

Anything I missed or if anyone disagrees, I am more than open to discussion.


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Author: /u/Chonch1224

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