Personal FinanceDjelicS / E+ via Getty ImagesMaurie Backman
The amount of money you feel comfortable spending should be based on your priorities and goals.
Knowing you’re on track for retirement and having a solid emergency fund can help alleviate your worries.
Being more mindful of your spending could help you better get on board with it.
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An interesting thing tends to happen to people who grow up without much money and find themselves earning lots of it later in life. They tend to experience feelings of guilt or anxiety when they spend their money, even when they can easily afford the things they’re splurging on.Such is likely the case for this Reddit poster. They’re 34 years old with a liquid net worth of about $11 million. That’s more money than many people accumulate in a lifetime.Their current annual spending amounts to $350,000, which includes luxuries like a personal trainer, a private chef, and high-end travel. And they’re wondering if that’s reasonable and how much money they need to truly be financially secure.The reality is that because this poster isn’t stating that they plan to stop working, between their ongoing income and their high level of wealth, they should probably already be in a place where they feel like they can stop worrying about money. But in reality, it may not be so simple.It’s a matter of mindsetFor some people, spending $350,000 a year would be completely out of line and result in a world of debt. For others, it’s more than affordable.It seems to me that our poster here is in the latter situation. Given their net worth, as long as their $350,000 in annual spending can be covered by their earnings, there’s no reason to worry about it.But that doesn’t answer the “how much is enough?” question. And there’s no universal answer to that, as it depends on your personal goals. If this poster wants a $15 million nest egg, then clearly, at $11 million, they’re still a bit short.What I can tell this poster, though, is that if they were to feel more confident in their long-term savings, they’d probably be able to stop worrying about their spending. So I think it’s important for them to come up with a number that gives them peace of mind. Once they reach it or see that they’re on a path toward it, they can feel better about their financial picture — even though they should be feeling pretty darn good already given where they are.It helps to talk to a financial professionalThe poster above has a situation that’s far from ordinary given their high net worth at such a young age. But y