Comments

  1. I agree with you to not compare what you have to what others may have. My savings amount isn’t the lone indicator of wealth but just a piece of the total picture because you have to include debt, budget, etc. Wealth is a state of mind, when you have all your needs covered financially then that is when you are wealthy. The wealth amount in the bank is different for everyone.

  2. That’s a great question!

    Unlike the blanket statement above, I’d submit that the answer is different for everyone. People have different savings goals–some like to have a little more in their liquid assets; others prefer to maximize their investments. Depending on your setup, a large savings account may actually be indicative of your financial health!

    Arguably, that means you should be investing more–but as many well-known financial gurus note: personal finance is as much about psychology as it is about math! If you feel like you need to contribute a bit more to savings in order to feel like you’re accomplishing something, then that’s what you should do (to keep yourself motivated!) until you’re comfortable with the size of your savings account.

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