Most of my friends here in Chicago work the typical 40 hour 9-5 job making between 50K - 75K a year. I always laugh when I hear them saying how they worked 55 hours last week, they hate their jobs, blah blah blah.
Even funnier is when they are bragging about all the hours they put in. I have always believed in the motto "Work smarter, not harder" Even when I was in pharmaceutical sales, I only worked about 25 hours a week (unknown to my boss)
but I still managed to get rookie of the year and lead the territory in sales volume. This was because I realized 80% of my business was coming from only 10% of my customers and I worked the hell out of those accounts.
People are just idiots that work 50 hours a week just to be able to say "I work 50 hours a week"
Now mind you I do spend way more than 40 hours a week working on the internet, but unlike most people's jobs, I enjoy every minute of it.
In regards to spending money now.......I am an expert at this. I could get hit by a truck tomorrow and my wife will have plenty of life insurance. You have to be sensible, but enjoy the good life and the great income while you can. You never know what curve balls life is going to throw you in the future.