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knb comments on Why is it rational to invest in retirement? I don't get it. - Less Wrong Discussion
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I invest about 60-80% of my income. There are a variety of reasons but here are some:
Spending money doesn't seem to make me much happier. Buying stuff is certainly fun, but the enjoyment of owning a new thing wears off in a few weeks. Also, some things have carrying costs, they make moving more difficult etc.
I'm in my 20s, and I'm worried about possible trends toward large scale structural unemployment and declining median income per worker in developed countries. If these trends do continue, owning a fair amount of capital will be vital if you want to be financially secure.
I also get some pride from watching the numbers roll upwards on my accounts. It reminds me of how people who have lost weight often say, "no food tastes as good as being thin feels."
People really do seem to have different utility functions/discount rates etc. YMMV, but I like the feeling of having money more than I like buying/owning stuff.
How much at what interest rate, etc?
I also spend very little money, and am not doing anything intelligent with the ~1k/month that I save, so I'm interested.
I mostly invest in index funds (US and foreign). I also have some money in REITs, a growth-oriented mutual fund, and bonds. I'm not advocating any particular investment strategy, but if you're just leaving this money in a savings account, you could probably do better.
“If money doesn't make you happy, then you probably aren't spending it right.”
How much do you make, if you don't mind me asking? I'm saving about the same percentage, but I'm living with my parents for the next few months, and that percentage is going to plummet as soon as I actually have living expenses.