100% this ^^^
Time and experience rather than net worth is our most precious form of wealth. It took me a long time to figure that out.
The two most critical assets that money can't buy are time and health. There are so many people with high incomes and wealth and possessions, but they don't have, or don't make, the time to enjoy their money. They miss their kids growing up. They don't get time with their spouses, leading to not even really knowing them well and eventual divorce. Or they save for the future but by the time they're ready to use their savings, they or their spouse has lost their health. I've even known couples who couldn't do what they'd planned in retirement because a child of theirs had lost their health. One whose child died leaving three kids behind that then they had to raise. They enjoyed the grandkids immensely and they saw all three graduate from college. Now, they could retire and travel, although had to wait for the granddaughter's wedding. The grandfather did look forward to walking her down the aisle. Unfortunately, he had a heart attack and died one week before.
One thing I've learned is that we can't change the past and we can't control the future. We have the present and we need to live it fully to the best of our ability. That doesn't mean we ignore planning for the future, but we don't sacrifice the present for a future we can't guarantee.
We saved toward retirement, but never in doing so did we deprive ourselves of enjoying the present. We lived on the lake but in a small home. We owned a large bowrider. If I'd had to borrow for the house and boat I would have. I would not have said I didn't deserve them until I could save for them. I would have had a less expensive boat. I would have worked longer in my career. However, we wouldn't have sacrificed our prime years simply because we had to finance. We would have financed within our means, consistent with what was affordable at our income level.
We budget and use it to plan and we live within our means. However, when something really important to us comes along, we look at it's impact and we change our plans. There are those extended family members very important to us and we'd start selling boats and houses or do anything else we had to if they had a need we wanted to somehow take care of.
I worked at least 330 days a year, working 6 and 7 days a week, working 52 weeks a year, working 60 hours a week, before I met my wife. I never worked more than 45 hours a week after that and I took every vacation I had plus bargained for more each year. We turned down higher paying jobs because we didn't want to sacrifice our happiness. Thank god she taught me what was important in life. My father was an alcoholic and smoked heavily and died of a heart attack at 59. My mother had heart trouble and she died of a stroke at 68. My wife's parents never saw retirement. If we were to die tomorrow, we've enjoyed our lives in amazing ways.
There is a balance between over-extending and depriving oneself. Finding that is important and each must figure out how to do so for themselves.
