Your opinion on overly prudent savers who end up saving more than they’ll ever need ?

**Jkm94** · 05-05-2021, 12:33 PM

Brb you're dead while having millions sitting at the bank.

**BLOATMOGGER** · 05-05-2021, 12:38 PM

If nothing else I see it as a personal responsibility issue. If you're willing to burden your family and fellow citizens with the cost of your health care and retirement home, you're a leech. You had a whole lifetime to prepare.

It's a travesty how Millennials and younger are getting fukked dry by having the social safety net pulled out from under them. Meanwhile healthcare has actually been expanded for the boomers and Social Security will last until 2035, around the time the last boomer dies.

**GeezersPalace** · 05-05-2021, 12:40 PM

**** off dog,

These American hero’s are spending money stimulating the economy unlike irresponsible people like you.

It’s a cope. I agi e having money when ur 79 and missing out on life denying ezperiences

**Condo41** · 05-05-2021, 12:41 PM

My opinion is it's none of my business

That said I like the quote from ocean's 11 "I want the last check I ever write to bounce"

**Jkm94** · 05-05-2021, 01:00 PM

Originally Posted by BLOATMOGGER

If nothing else I see it as a personal responsibility issue. If you're willing to burden your family and fellow citizens with the cost of your health care and retirement home, you're a leech. You had a whole lifetime to prepare.

It's a travesty how Millennials and younger are getting fukked dry by having the social safety net pulled out from under them. Meanwhile healthcare has actually been expanded for the boomers and Social Security will last until 2035, around the time the last boomer dies.

This thread is about the complete opposite bud

**TealCat** · 05-05-2021, 01:03 PM

Never cared about old (60s and beyond) rich people.

Young self-made money is everything.

**Silencespeaks** · 05-05-2021, 01:06 PM

Yeah that rustles me.

Misers slaving away their entire youth without enjoying anything just so they have millions when they retire old.

Then when they retire either spend their life in/out of doctors offices with various health problems or they die early from heart attack or cancer.

Some people just have no concept of their mortality and how fragile and fleeting youth and health are.

And frugality is a mindset so even when they retire healthy they are still scared to spend any money on leisure or luxury. They would rather keep hoarding money and fap to their account balance.

**donblaximus** · 05-05-2021, 01:10 PM

Originally Posted by TealCat

Never cared about old (60s and beyond) rich people.

Young self-made money is everything.

No such thing as self made money

**Jkm94** · 05-05-2021, 01:10 PM

Originally Posted by ReadyToLift2019

Somewhat fearing this is going to be my situation

I figure I’d rather die with money leftover then end up totally broke living in a state run chithole although I’d kill myself (if physically able) before I’d let that happen

If it does get that bad I plan to take my last $5-$10k in CC funds or cash and fly down to Roatan/somewhere similar and rent a boat and load up my scuba kit with about 60-75 lbs of weight on it and go for one last dive

Worst part is worrying about the wife - either she’s going on that last deep trip with me or I’ll have to come up with an (I’m sure less than ideal) alternative

Life is tough gentlemen

How much you have saved?

**BeanGainClovis** · 05-05-2021, 01:12 PM

Wealth is generational and can be invested for steady profits that surpass a wage or salary. A lot of wealth is also tied up in land, businesses, and investments. That's why people hold on to wealth and accumulate greater wealth and power through the generations. This accumulation of wealth ended up dethroning the old feudal aristocracy and ruling the modern world we have now.

I think if you have more money than you could ever need it's probably best to just give it to the poor, but I've never had that much money so I've never had to make a decision like that.

**_zman** · 05-05-2021, 01:12 PM

Jokes on those that can't save and spend. You can do both.

There's nothing worse than someone that can't manage their finances. They become a burden on everyone.

**donblaximus** · 05-05-2021, 01:14 PM

The problem is the definition of "overly prudent savers" will vary for everyone. Especially in America where saving is a foreign concept to most. In my definition, having $15M in the bank and living in a regular house in a nice part of town would not be considered overly prudent however many would say "you should be in a large house on 10 acres" etc.

Overly prudent to me is having $15M in the bank and afraid to use too much toilet paper to wipe your butt. Is this what we are talking about?

**Jkm94** · 05-05-2021, 01:18 PM

Originally Posted by donblaximus

The problem is the definition of "overly prudent savers" will vary for everyone. Especially in America where saving is a foreign concept to most. In my definition, having $15M in the bank and living in a regular house in a nice part of town would not be considered overly prudent however many would say "you should be in a large house on 10 acres" etc.

Overly prudent to me is having $15M in the bank and afraid to use too much toilet paper to wipe your butt. Is this what we are talking about?

The former. The latter is just a cheap ass mofo.

**cjr169** · 05-05-2021, 01:18 PM

Originally Posted by _zman

Jokes on those that can't save and spend. You can do both.

There's nothing worse than someone that can't manage their finances. They become a burden on everyone.

It’s never both.

You’re either a tightwad cheapskate or an always broke ****goot

Maybe 1 percent fall into the both category

**poundXpound** · 05-05-2021, 01:23 PM

How about both?

We lived well, but below our means and neither of us broke into the 6-figure salary, but got close.

Nice home, nice cars, nice clothes, nice vacations, dined out, etc.

Invested in our 401k plans and Roth IRAs and funded them decently, but not to the max, so we could have the nice home, nice cars, etc.

Were able to retire several years early with a low 7-figure retirement portfolio, some modest pensions and both took social security at 62. Barring catastrophe, we're set to enjoy the rest of our lives without financial worry.

I will admit it was hard to change from a saving/investing mindset to a spending mindset, but we're getting more comfortable with it.

Even though we're taking money from our portfolio, it's still growing very nicely.

Was able to afford a great home in Florida, a car I really like (Jaguar F-Type coupe), dine out all the time, and pretty much do whatever we want when we want.

**Jkm94** · 05-05-2021, 01:23 PM

Originally Posted by Silencespeaks

Yeah that rustles me.

Misers slaving away their entire youth without enjoying anything just so they have millions when they retire old.

Then when they retire either spend their life in/out of doctors offices with various health problems or they die early from heart attack or cancer.

Some people just have no concept of their mortality and how fragile and fleeting youth and health are.

And frugality is a mindset so even when they retire healthy they are still scared to spend any money on leisure or luxury. They would rather keep hoarding money and fap to their account balance.

I do fap to my account balance but I'm young.

**lolatpaniccels** · 05-05-2021, 01:26 PM

they're just sick in the head, just like the morons that spend everything the make and have nothing to fall back on. Both are too retarded extremes.

Best part is when they die and then the idiotic kids inherited and end up blowing it all.

**lolatpaniccels** · 05-05-2021, 01:28 PM

Originally Posted by donblaximus

The problem is the definition of "overly prudent savers" will vary for everyone. Especially in America where saving is a foreign concept to most. In my definition, having $15M in the bank and living in a regular house in a nice part of town would not be considered overly prudent however many would say "you should be in a large house on 10 acres" etc.

Overly prudent to me is having $15M in the bank and afraid to use too much toilet paper to wipe your butt. Is this what we are talking about?

15M and living in a similar house with someone that has 50K in the bank is ridiculous...

We know a guy that is a net worth millionaire, no kids, and was cheap his whole life so it all added up.

Dude is the cheapest person ever. Dude has no wifi and just sits on one corner of the house to use his neighbors, and doesn't have trash service - just drops it off in bins in alleys. guy is sick.

**donblaximus** · 05-05-2021, 01:36 PM

Originally Posted by Jkm94

The former. The latter is just a cheap ass mofo.

The person living in a regular house in a nice part of town with $15M in assets is living financially free. They dont have to worry about losing their job, dont have to worry about much of anything financially. Maybe travelling is their thing. Maybe they want to hand it to their grand children. Maybe the feeling of living without worry and burden is worth more to them mentally than the material things.....

**donblaximus** · 05-05-2021, 01:38 PM

Originally Posted by cjr169

It’s never both.

You’re either a tightwad cheapskate or an always broke ****goot

Maybe 1 percent fall into the both category

Are you speaking out of your arse or from experience.

If someone has say $20M in assets (not including homes), 2 exotics in the garage, a few homes (main home, beach house, mountain home) and travels 3-4 times a year. Is that someone who is cheap or someone who is broke?

**guest89** · 05-05-2021, 01:38 PM

It really just depends. I've been fortunate enough to have been with a lot of people that are dying and/with the families when they die. The simple truth is the more wealth you accumulate when you're young. The nicer the end of your life is.

Furthermore, you really can't depend on anyone to be with you until the end. But if your rich as hell. You can have a very luxurious/enjoyable older years. If you have no wife/GF you can get on seeking-arrangement or even tinder these days and find a 'sugar baby'. If you have medical problems you can get the best care possible. Even in home. Went to a home recently where someone was dying of covid. Family had money so they converted the entire room into a hospital room. Hospital bed. IV drip. Purchased their own ventilator. Had a private nurse standing by to administer care. Etc. They are dying in a multi million dollar home with their family/friends around them. Instead of some schitty hospital isolated and alone.

Also when it comes down to it. There really is just no reason why the average American can't be a millionaire by their 40s. I'm expecting 2.5ish by the time I'm 49-52 years old. On top of that a full pension. If I didn't have a job with a pension then I'd have way more then that in the market by that time. Time flies. I'll be 49 in just 15 more years.

**Silencespeaks** · 05-05-2021, 01:39 PM

Originally Posted by lolatpaniccels

they're just sick in the head, just like the morons that spend everything the make and have nothing to fall back on. Both are too retarded extremes.

Best part is when they die and then the idiotic kids inherited and end up blowing it all.

Yep their kids wil likely go the other extreme and blow their inheritance on luxury consumption because they watched their parents miser and hoard all their life.

**donblaximus** · 05-05-2021, 01:39 PM

Originally Posted by ReadyToLift2019

$800k in stocks, house totally paid for and no debt whatsoever. $1.1M net worth. Just turned 42

House totally paid off in a time when you can get 2.1% on a 15 year loan. Dont wear that like a badge of honor bro......make your money work for you.

**donblaximus** · 05-05-2021, 01:40 PM

Originally Posted by poundXpound

How about both?

We lived well, but below our means and neither of us broke into the 6-figure salary, but got close.

Nice home, nice cars, nice clothes, nice vacations, dined out, etc.

Invested in our 401k plans and Roth IRAs and funded them decently, but not to the max, so we could have the nice home, nice cars, etc.

Were able to retire several years early with a low 7-figure retirement portfolio, some modest pensions and both took social security at 62. Barring catastrophe, we're set to enjoy the rest of our lives without financial worry.

I will admit it was hard to change from a saving/investing mindset to a spending mindset, but we're getting more comfortable with it.

Even though we're taking money from our portfolio, it's still growing very nicely.

Was able to afford a great home in Florida, a car I really like (Jaguar F-Type coupe), dine out all the time, and pretty much do whatever we want when we want.

You do whatever you want.....when you want.......except for maxing out all your tax deferred accounts........

**donblaximus** · 05-05-2021, 01:43 PM

Originally Posted by lolatpaniccels

15M and living in a similar house with someone that has 50K in the bank is ridiculous...

We know a guy that is a net worth millionaire, no kids, and was cheap his whole life so it all added up.

Dude is the cheapest person ever. Dude has no wifi and just sits on one corner of the house to use his neighbors, and doesn't have trash service - just drops it off in bins in alleys. guy is sick.

Nobody said $15M and living in a neighborhood next to someone worth $50k. A home in a nice neighborhood in a decent sized city in America is still $700-900k lets say. Its just nothing flashy. Its safe, in good school district, 2300 sqft, old ranch style home and a safe buy as it will always appreciate. Its just not "Ballin"

If you have $1M, if you were prudent with your money and making moves.....you might actually be living to the dude making $50k a year no lie. One million doesnt go far especially if you want to put aside some money for investments purposes etc.

**donblaximus** · 05-05-2021, 01:44 PM

Originally Posted by ReadyToLift2019

House has been paid off since mid-2014.

Still dont see for what reason? I could still get a 3.75% loan at that time and the couple hundred K i wouldnt have dumped into the house from 2014 till now would be worth considerably more in the market today.

Im not a big fan of bad debt......but paying cash for houses or paying down houses aggressively i never understood as those are assets that should appreciate and are secured for low interest rates so Id rather not tie my liquidity up in them.

**EagleOfWar** · 05-05-2021, 01:47 PM

Originally Posted by Silencespeaks

Yeah that rustles me.

Misers slaving away their entire youth without enjoying anything just so they have millions when they retire old.

Then when they retire either spend their life in/out of doctors offices with various health problems or they die early from heart attack or cancer.

Some people just have no concept of their mortality and how fragile and fleeting youth and health are.

And frugality is a mindset so even when they retire healthy they are still scared to spend any money on leisure or luxury. They would rather keep hoarding money and fap to their account balance.

Solid post. I don’t hate or white knight u like some here but I’ll admit it when u post something worthwhile.

**donblaximus** · 05-05-2021, 01:48 PM

Originally Posted by Silencespeaks

Yep their kids wil likely go the other extreme and blow their inheritance on luxury consumption because they watched their parents miser and hoard all their life.

Speaking out or arse again or speaking from experience. I watched my refugee parents miser all their life. They came here with the shirt on their backs and clawed their way back to a good place when my father died he left my mother with more than she would ever spend and she will leave my children more than they would ever need. But I respect money and I am doing everything I can right now and for the next 15 years so my children will respect money, work ethic and responsibility as well. Sure I spend way more than they ever did.......but I also make more.

**SettingOff** · 05-05-2021, 01:54 PM

lol at savingcels

brb live a mundane life so you can retire and keep living a mundane life

**lolatpaniccels** · 05-05-2021, 01:55 PM

Originally Posted by SettingOff

lol at savingcels

brb live a mundane life so you can retire and keep living a mundane life

they can afford a nicer rocking chair when they're decrepit and dying

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