As I was pondering what to write about this week, I decided to take a little break and spend some time on social media. After watching a few videos, I came across one in which this content creator was kind of dismissing the importance of having a 401(k) or saving in general. Her message to the world was that contributing to a 401(k) is “nice”, but she has been able to make 401 memories by spending her money exactly how she wanted and when she wanted to. After watching this video, I could not help but think about how many people may either share her way of thinking or may be influenced by her.
Coming from me, someone who has been struggling with the idea of spending for a few years, I believe everyone should strive to find a healthy balance between saving and spending in a way that fits their lifestyle and is in alignment with their short- or long-term goals. “Present me” loves live concerts, traveling, and SoulCycle; but “future me” wants to buy a home and have a comfortable retirement. As a 28-year-old, the idea of buying a home (not to mention retirement!) seems so far away, but I have a savings plan that I follow every month in tandem with contributing to my 401(k). Knowing that I have these things in place to take care of my future self, I have been able to enjoy my life right now and do all the things I love.
What I am trying to say is, we can create those 401 memories and more and still take care of our future selves by being mindful of the choices we make around money everyday.