The Retirement Manifesto has an excellent post on not focusing on the past (or too much on the future). Enjoy the present.
In it, he discusses some family issues with Alzheimer’s (living in the past) and the tendency of FIRE folks to focus too much on the future, at the expense of enjoying how you live currently. He also introduces a new phrase – TPA (time phase allocation) where you determine how much time you want to spend on the past, future and present, and what it might mean for your mental well-being.
This harkens back a bit to the reading and work I’ve been doing on Stoicism. The stoics are very big on not focusing too much on past mistakes and issues. They are gone and outside your control. Stoic philosophy really is about focusing on what you can control (often times, just your thinking and emotions) and to let go of things outside of your control (other people’s action, historical events, etc.).
For many FIRE folks, this can be a real stumbling block. We find out about FIRE, do a lot of reading, run the numbers, set up our savings, get our FI number, and then……wait. We keep reading, adjusting, tweaking our investments, savings and plans. We should also be living for today, and budgeting money to live for today (rather than living like monks).
I have a deferred account at work, where I can put a portion of my salary away (in addition to my 401K) that I can get paid later, or after I leave the company. I dropped it this year from 25% of my salary to 20%, just so we’d have a few extra dollars for travel and enjoying life now.
What are you doing to live for today?