<prompt> Human: So my wife and I just recently had a baby and are juggling between current cash outlays and saving for retirement. We have a combined HHI of 320k and was wondering how much to save for our retirement versus enjoying ourselves now. We have a combined 401k of around 400k and additional liquid investment accounts of around 350k on top of around 150k in equity in several investment properties. I am also the only child of parents who have around 3 million in properties and grand parents who have around 2 million in properties who have willed it to me.Despite the family wealth we had been pikers and had been savings quite a bit every year and maybe do overseas travel once a year. I also ended up getting a used Porsche instead of buying new although the wife did get a new q7. More recently we had been debating whether we should live and enjoy our 30s given the inheritance down the line or continue to toil in our high powered jobs or fire our nanny and have the wife stay at home. In the short term we have made many quality of life improvements such as hiring a maid once a week, eating out more as well as hired a stay at home nanny. We are also buying more from amazon instead of doing Costco runs to save on time.I would appreciate the opinions from someone in a similar position.  <response>: dont rely on inheritances. its not yours and depending on what happens may not be there. max out the 401ks and any other tax deferred options you have. then run some numbers on expenses that allow you to have vacationsfun and flexibility with your lifestyle. mark the rest incoming as savings and invest it. if you want to consider FIRE, you need to get a handle on expenses. compare that to the amount you could realistically derive from your portfolio-- renttaxableroth conversionetc... selling properties could be a possibility. generally a 3-4 draw on the portfolio is considered safe if in diversified investments. if that amount is more than your expenses, you could FIRE. if not, use future value calcs to see how much longer you gotta work. 