I am in my mid to late 30s and have a fair to moderate amount saved already in my 401k (approximately 1.8x my current salary).

I'm currently investing approximately 28% of my income (between what I put in and what is matched) and curious as to everyone's thoughts as when you are saving enough and to just spend the rest and enjoy the here and now.....

We have 3-4 months emergency savings and have started a college fund for our newborn, so that's taken care of. House is on a low fixed rate and not in a hurry to pay it off. 1 car loan at 2.49% and no other debt. And I am happy working til my mid 60s so I'm not necessarily looking at retireing early. Only other goal is to have more cash on hand.

So what say you? When do you say I'm doing enough or do you always try and save more and more? Thanks!

Do you feel as though you are missing out on anything important in life right now that you would like to be able to spend money on?

Are you asking if you are saving enough now so that you won't feel you need to save an even larger percentage of income, or are you asking if it's fine to save less than your current rate in order to spend more?

Woody - I plan on keeping my savings rate close to this for the foreseeable future. Maybe as high as 30%, certainly no lower than 23-25%.

Am I missing out on anything? No. But I could make my life easier / more enjoyable. My salary is expected, per my contract, to increase 9-13% every year for the next 11 years or so until it plateaus and then small 2-3% increases. So I basically have the opinion to increase my savings rate or spend more money on luxuries - if that makes sense.

What does your savings outside of 401K and emergency savings look like?

Outside of 401k and emergency we don't have enough. Building up our "future home/everyday fund" but no plans for a new house for at least 5-8 years so we aren't rushing that.

College fund we just started, but our kid is only a few months old. No other savings. Should I have others? Thanks

I would build after tax funds

I would save as much now that you can. You can't predict the future, but life will get more expensive. By saving more now, you may possibly forgo a life insurance policy on one of you, or even disability insurance depending on you required future income. Live like you're broke, but do something nice for your family every now and then. Compounding is key.

9-13% raise for 11 years straight is pretty sweet. You could stand to increase your savings 5% every year and still have more play money. Not that you need to increase savings. Sounds like you're on the right track.

I'd get your emergency fund up to 6 months and consider paying off the car note before adding more towards retirement.

And I'm sure I'm being way too pessimistic, but with flattening yield curves, I'd put extra into paying off the house rather than the stock market. It's not gonna take much in the way of bad news for this mother to burn down. Note that I'm not suggesting you shift current strategy, but if I were in your shoes and was considering doing more, I'd start paying off the house more aggressively.

This will sound cheesy, but it sounds like you need a life goal that's bigger than yourself and beyond something you realistically think you can achieve.

Something where you will feel good not spending the money on luxuries or just piling in your bank account, and one of those things you will be glad you did on your deathbed.

For some, enjoying life with that luxuries is that goal. For others it might be charity/foundation work/church stuff/political causes, etc.

Very important question: do you like your job/career, and is it stable? If so, work a long time and enjoy your money now.

Or, have some more kids and you won't have to come on here and ask stupid, humble brag questions.

I struggle with this too. I save a very high percentage of my income since I am still working a crazy travel role where my expenses are largely paid for. I agree with the above poster re: a goal. I purchased a vacation home and was a great way to realize some of my aspirations and put money into an investment (not the best of course) I can start using now in my late 30's rather than waiting until I'm old and grey. I also never got so neurotic about saving that I didn't take a nice trip or said no to prime beef haha.

This was a splurge, but for each person I think it can be relative. I'm not a big car guy nor am I particularly worried about upgrading my modest primary residence so it was good for me. If I had a wife/kids maybe it's a new home, college fund for the kid, or saving enough she could stay at home.

Great feedback from the previous posts.
1) "get your emergency fund up to 6 months" Emergency fund should be 6 months to 1 year.

2) "I would max out 401k, max out Roth IRA, max out HSA, and contribute to 529."

3) "Compounding is key" Have you fully funded the 529 ? The earlier the better.

4) Payoff car loan and save so you can pay cash for the next car.

5) "Then look at after tax investment accounts"

If you knew what you wanted, it would be easy to determine if you were saving enough or not.