This. 

Money is a tool. You have to use it (i.e. spend or donate) for it to be useful.  Otherwise, it’s useless.  

We’re not talking about frivolous waste. We’re talking about quality of life, like you said. Don’t defer gratification so far into the future that you don’t enjoy some of your gains.  I don’t know when that is for you or anyone else. It is a personal choice.  So learn what’s important you and prioritize that.