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My reasoning came from my concern that they'll somehow feel less satisfied with their economic status someday if they struggle to get ahead and fall short. I ad
by markc 12y ago
My reasoning came from my concern that they'll somehow feel less satisfied with their economic status someday if they struggle to get ahead and fall short. I admit this may be entirely wrong; I may be "projecting" based on my own minor but lingering discomfort from being told (as an adult) what my Dad's peak earnings were (more than mine..).
I think you hit the nail on the head with the comment that it's explaining the thinking process that's most important. I've long had a goal of being able to retire early, and that has driven much of my frugality. For most people, the key long term financial security is living below your means, and that's really the message I'd want to communicate - not that you need to earn a ton. I can also explain that my savings are intended to last through 30+ years of retirement (one can only hope..) with some cushion against a market crash, etc. This seems like the right approach to sharing our finances - and how the relative balance of income, expenses, and savings all factor into my goal of early retirement.
I realize now too that part of my discomfort in sharing income information comes from the fear of either showing off, or seeming excessively materialistic - but with this approach of "goals driving behavior", it need not seem that way at all.
Thanks.