financial wealth/security VERSUS enjoying your life while you have it, while you're raising your kids, etc., because we will never get this time back.

I'm sure many people use this line of reasoning to justify irresponsible spending ("It's important to enjoy life!"), and I'm not condoning that.

But I think there is a valid point to be made by those who have and use their cash flow to raise their kids in a slightly bigger home or to take the kids on some great family vacations, even if they haven't yet accumulated much wealth.

It's a balancing act. Being too rigid about delaying gratification can lead to regret, just as being financially irresponsible can also lead to regret.