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Retirement Discussions / Retire Well on Less

URL:  http://boards.fool.com/there-may-be-a-message-for-you-in-there-too-of-24497760.aspx

Subject:  Re: Parents Nearing Retirement Date:  8/22/2006  3:43 PM
Author:  WyneFool Number:  959 of 1491

There may be a message for you in there, too, of course.

So many people rush around these days, slaving at work, putting in extra hours, and missing out on family/spouse time, not necessarily to be able to live a good life, but just to be able to buy more "stuff"! However, I confess that, back when we were both working and raising our family, WE did a lot of the same thing, though we tried not to.

I sometimes wonder where it will all end up. Will the coming generations eventually get so "busy" that they just plain go mad?

Good luck finding a "balance"!


I need to disagree with RV on a couple of levels. I believe that we all, during our working days, tend to try to 'keep up with the Jonses'. As we mature (read - grow older and wiser) many of us no longer feel the need to impress our peers with stuff. We slow dow the spending and live out our lives more frugally. (And I know that RV is a conservative spender in retirement.)

Because our parents lived through the Great Depression with that stone for soup or reused the paper from the butcher they tended to think frugal. I find that we (aging boomers as an inclusive class) are starting to do the same. We've seen the papers where others have had their 401k's wiped out by Enron/Worldcom scams or pensions that were promised are being taken away. If we think about it our parents were right, no one will take care of us but ourselves. As part of a HS project in Family Life (back in 1972 no less) I determined that Congress would tinker with SS and it really was a Ponzi Scheme. I vowed then that I would do what I could to not be dependent on the Government or any company where I worked. I've become more frugal in my old age and still spend for those Items that make my life rich.

I see the next generation as a mixed bag. Some are spending wildly but more are Fiscal Conservatives. More are at least talking about the future and investing than my generation ever did. Savings rates in this country are low until you consider 401K,403B,IRA's and Roth's and the equity building in the houses being purchased. I don't like the trend toward 40-50 year house mortgages and 7-10 year car mortgages but they will figure it out.....we did didn't we?

Anyway, the kids today will be fine and will learn their lessons by considering the stupid things we did. Just like we learned from our parents. Now go and re-use that paper bag!

Nechochwen - walking a different path -
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