Personal Finance

5M Net Worth at 30—How to Overcome Spending Anxiety

Christy Bieber

Published: May 22, 2025 11:11 am

Imagine what you would do if you had $5 million in your 30s. Chances are, you’d be enjoying your life, thinking ahead towards a bright future, but also spending on the things that make you happy today.

Unfortunately, one Reddit user has found himself in the fortunate position that he does have $5 million in his 30s — but the problem is that he cannot enjoy his money at all.  Here’s what his issues are, along with some tips on how to overcome the anxiety that he’s experiencing about his spending, so he can make the most of the money he’s earned and saved. 

Spending anxiety exists even with $5 million

The Reddit poster explained that he’s planning to work for a number of years yet, but with his $5 million saved, he’s definitely on the glidepath to early retirement — and with a hefty nest egg when he finally quits his job. But, despite his success, he says he’s extremely frugal and feels like he is making it impossible for himself to enjoy the experiences that money can buy.

He gave a few examples of the frustration that he’s feeling, which show just how big his problem really is.

Specifically, he said he always chooses the cheapest hotels when he travels, and he gets stressed even when he has to spend as little as $100. He doesn’t want to be price-gouged or taken advantage of, and he stands by his position that he values being treated fairly. However, he thinks he perhaps goes too far and can’t overcome the negative associations that exist surrounding big expenses.

How to overcome the fear and guilt surrounding spending

The Redditor is not alone in his feelings, as many people who are self-made and who didn’t grow up with a lot of money have a hard time shifting into a spending mindset, especially when they have worked hard to accumulate wealth. The OP also seems to have the perception that spending on “luxury” items is equivalent to being tricked or taken advantage of, even though there are plenty of expensive items that are worth paying for. This mentality that he’s being ripped off is going to make it hard for him to spend. 

Several posters suggested that he read financial books about the philosophy of money, including a book called Die with Zero, which is a guide to getting all you can out of your money so you don’t just get rich for no reason but instead to use money as a tool to make the most of your oppotunities on this planet. 

The poster had also floated the idea of getting some therapy, which is a pretty smart move. If you have $5 million and are worried about $100, there’s obviously a big flaw in your thinking, and you may need to understand the root of the problem to get over it.

Working with a financial advisor also isn’t a bad idea. An advisor can help him understand how big his nest egg is going to grow with the $5 million he already has, and can work with him to understand how much income his accounts would already produce at a safe withdrawal rate. The advisor could also help hom to create a budgeting plan — but, unlike most plans, this one would be designed to help him spend more money guilt-free. The budget can allocate money to savings and essentials, and it can also devote some money to doing things he enjoys. 

With a written plan that creates a blueprint to financial prosperity and sets aside money for spending on specific items and experiences, the OP may feel happier about spending since it is planned for, and the purchases are chosen with foresight. It’s absolutely worth a try, because there is very little reason to even have $5 million if you’re just going to worry about spending small amounts all the time anyway.