[Thaddy]

Originally Posted by schoy

They call it retirement for a reason.

You can either:
(a) Have your p-car now, but work 5 days a week for the rest of your life (say 80 years old); or
(b) Drive a used honda civic now, work 5 days a week until you're 60, retire, not work at all for 20 straight years and buy a p-car and an M3 with the car savings that you invested somewhat wisely.

[Extreme examples, I know, but just trying to make a basic point.]

The answer, I suppose, is how long do you think you'll live?

Or you can have your cake and eat it too. If you're smart enough with your disposable income and invest wisely at a young age, you can drive those BMW's in your 20's and still retire a multi-millionaire. It's not as hard as you think with a good education and some financial discipline.

[ChrisMT79]

Moderation of everything is key.

[Cdnrockies]

Can't take it with you.

Never understood living frugally and not enjoying life to the fullest. You only get one kick at the can so why wait until you're too old to truly enjoy it.

As long as your family is well taken care of and provided for, why should you fill the plate for your kids. If you've provided them with the stable, nuturing environment during their youth and taught them the life skills to survive on their own they'll be just fine. Sure, you can give them a helping hand when necessary, but having them anticipating your death because they'll be "set" is a lame concept.

[JayKay335i]

Originally Posted by Cdnrockies

Can't take it with you.

Never understood living frugally and not enjoying life to the fullest. You only get one kick at the can so why wait until you're too old to truly enjoy it.

As long as your family is well taken care of and provided for, why should you fill the plate for your kids. If you've provided them with the stable, nuturing environment during their youth and taught them the life skills to survive on their own they'll be just fine. Sure, you can give them a helping hand when necessary, but having them anticipating your death because they'll be "set" is a lame concept.

Agreed.

Until you hit 80 and you're broke and your kids dont want you living with them and you wind up in some shithole medicare facility with no money and nothing left to live for.

All it takes is proper planning and you can both enjoy life and have enough to retire on.

[BayMoWe335]

You have the mentality of a poor person and clearly don't get it. I'm too lazy to explain my detailed view on this, so I'll leave it up to others.

I'll just say the millionaire next door doesn't have to eat bread crust, never travel, and never buy cool shit until they are 75 years old. There is probably nothing worse than being old and poor. You have no ability to work and you are a nuisance to everyone around you. At 25, you might think 65 is old. When you get there, you'll assuredly realize you may move more slowly, but want to enjoy life just as much as you did when you were 25...perhaps more. It's all perspective. You can't turn on the saving switch when you're 55 and think, "shit, let me start saving." You lost out on everything. Time is everything with money.

[Minefield]

Originally Posted by schoy

They call it retirement for a reason.

You can either:
(a) Have your p-car now, but work 5 days a week for the rest of your life (say 80 years old); or
(b) Drive a used honda civic now, work 5 days a week until you're 60, retire, not work at all for 20 straight years and buy a p-car and an M3 with the car savings that you invested somewhat wisely.

[Extreme examples, I know, but just trying to make a basic point.]

The answer, I suppose, is how long do you think you'll live?

exactly! it'll suck if you saved up and can't live to spend it

[BTM]

Originally Posted by BayMoWe335

You have the mentality of a poor person and clearly don't get it. I'm too lazy to explain my detailed view on this, so I'll leave it up to others.

I'll just say the millionaire next door doesn't have to eat bread crust, never travel, and never buy cool shit until they are 75 years old. There is probably nothing worse than being old and poor. You have no ability to work and you are a nuisance to everyone around you. At 25, you might think 65 is old. When you get there, you'll assuredly realize you may move more slowly, but want to enjoy life just as much as you did when you were 25...perhaps more. It's all perspective. You can't turn on the saving switch when you're 55 and think, "shit, let me start saving." You lost out on everything. Time is everything with money.

+1. Saving is a lifelong commitment. Not a last minute realization.