I have a question about the flow chart. What is the path for going from, for example, #16 -> #18? Let's say that you are investing in your IRA, and you aren't making enough to max it out. You have tuition and other frum life expenses to pay, so just increasing your income:expenses ratio is not a simple accomplishment. (Maybe you get tuition breaks and increasing your income will get you nowhere unless it's a really significant increase.) Nothing at that point in the flow chart is actually generating returns. So are you just stuck at step 16?

Pretty much. This isn't exclusive to steps 16-18 though, its basically true of all of them. The only exception I can think of is if you do the math and see that you wouldn't need to have maxed out your IRA/401k in order to be okay in retirement based on your expenses.

Yeah 16-18 was an example. But it's kinda sad and disappointing that your financial journey stops "there" (wherever "there" is on the chart for each person).

It doesn't stop there it just means you need to find ways to change the variables (income & expenses). It also may not be a permanent pause. For example a playgroup for a newborn is a lot more expensive than for a 3 year old, so the expenses may change for the positive on their own given time. It also may be entirely okay for some people, not all success in life is financial.

so the recommendation is that until you max out your IRA you don't save for simchas?

Audio Clip (2023-06-18_09-59-18-905).m4a

I hope your kid isn't still crying

Bh nope. But was thinking someone would have responded by when I returned