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Old 05-03-2018, 09:35 AM
 
Location: Philadelphia/South Jersey area
2,869 posts, read 1,400,541 times
Reputation: 10071

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got this in my email.
Interesting read.

https://www.reuters.com/article/us-c...-idUSKBN1I3293

just another view
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Old 05-03-2018, 10:12 AM
 
Location: Newark, NJ
692 posts, read 348,136 times
Reputation: 950
Good article. I want to send this to my parents, aunts and uncles and folks in retirement that are living way more frugally than they need to, but it won't change anything. I think they get some satisfaction out of living that way anyway, which I understand, and they seem happy.
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Old 05-03-2018, 10:15 AM
 
71,471 posts, read 71,652,652 times
Reputation: 49058
money is like water and always seeks it's own level .

while many studies show retirees spend in a smile shape that is only true if they spend on themselves and as we age spending falls off .

but if you have extra money you may likely spend more on your grand kids or own kids once spending slows on yourself .

so i think in practice money will always seem to get spent as long as you have a place to spend it when spending falls off on ourselves
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Old 05-03-2018, 10:31 AM
 
Location: Florida
5,232 posts, read 3,007,646 times
Reputation: 9584
Some of us are fortunate enough to have "kids" who have achieved more than we have. Our kids came for a visit last week and while they were here they bought us a new dishwasher.

I was downsized at age 59 during a recession. The job market was as cold as a tomb. That was a crash course in frugal living. It is difficult to move on from that.
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Old 05-03-2018, 10:34 AM
 
71,471 posts, read 71,652,652 times
Reputation: 49058
having more than us really is not a factor in what we do for the grand kids or kids .

my son is a partner in one of the countries largest law firms and his wife is a cpa for one of the most famous hedge fund managers in history .

we will never compare to them in income . but we certainly enjoy taking them on family trips or doing things for them . so as spending on ourselves slows i can see doing more for them or with them . we know lots of others that think the same way . one way or another that money will be enjoyed and preferably while we are alive ,
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Old 05-03-2018, 10:57 AM
 
659 posts, read 324,436 times
Reputation: 1974
In what would prove to be my final working years; I loved nothing better than to take my sons and their families on nice vacations--including giving spending money. I told them I was doing it while I could.
Now that I am retired, I live pretty frugally, simply because I have no need to be a "consumer" anymore now that I'm not working. Can't afford to take everybody on vacation anymore. But---I still splurge on nice vacations for myself--with business class air--because I worked hard for it and I deserve it in my retirement. Meanwhile, my kids are grateful for the memories of when Mom was "loaded".
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Old 05-03-2018, 02:37 PM
 
Location: The South
5,214 posts, read 3,628,854 times
Reputation: 7896
If you have ever been broke, its hard to forget. Old and broke ain’t a good combo.
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Old 05-03-2018, 03:03 PM
 
71,471 posts, read 71,652,652 times
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i was young and broke , or rather my parents were very low income which made me just as broke. so that sucked too
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Old 05-03-2018, 03:17 PM
 
6,353 posts, read 5,154,974 times
Reputation: 8527
"The house might not burn down so I'm not going to pay my fire insurance." Phooey.
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Old 05-03-2018, 04:35 PM
 
Location: Central Mexico and Central Florida
7,095 posts, read 3,456,394 times
Reputation: 10153
We saved like squirrels. Hard to make the pivot to spend.
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