I think the major stumbling block in me going from what i feel like is a "normal" saving rate (say 20%, 30%??) to ramping up to saving more than I spend is that I have no idea what I would do with all of the extra time.
Right now, I roughly work M-F 7:30 - 3:30. My free time is basically spent putzing around on the internet, watching sports, dating, going to the gym, and going out to eat.
I also like to play social sports, such as adult kickball. I'd say I spend about $600/year on this activity for 2 nights a week for the whole year, which is kind of a lot of $, but also my ONLY social outlet, so $6/night is not really that bad compared to what others may spend on recreation. I enjoy the competitiveness and the physical activity of these types of sports, as well as the social aspect of going to the bar after, but I have no interest in getting drunk regularly and dropping triple digits at the bar every week like some of these people do. (I've actually never spent that much at a bar). I meet lots of cool people in kickball, but these types of friendships don't really go past the surface - I see them at kickball related activities, but that's about it.
I guess I look at how I spend my time off and think "if this is how I'm going to spend my free time, then I don't really see the point in trying to speed up the retirement timetable."
I recently turned 30 and I am very much an introvert. I have done extended travel a couple of times in in my mid-to-late 20s, but both times, I was ready to come home and get back into a routine. 6 months of unemployment drove me absolutely bonkers with nothing to do.
I also am weird in that I refuse to justify most fun money if I am alone. If friends want to go to a movie or out to the bar, no problem, 'll go and I'll spend some money. If it's just me, I figure I can occupy myself at home for free with TV or the internet or whatever. Over the years, friends have gotten married, grown apart, and more time has been spent alone.
Obviously the idea of financial independence sounds great, the freedom of doing whatever I want whenever I want is great, but I enjoy having structure and a routine and I feel like the stuff that drives me crazy about my job would probably still drive me crazy if I spent my time volunteering somewhere without pay instead.
Has anyone gone through this phase in life and have any tips to share to cope and overcome?