Pops wrote:GHung wrote: no debts, no mortgage, no real ambition;;; the basics of our retirement plan.
roger that, LOL
If that were more far more normal, our society (re the first world) and our planet would most likely be in FAR better shape.
I remember when a friend of mine who wanted some help with saving and investing confessed to being a "cheapskate", and acted embarrassed. I looked him firmly in the eye told him that if by that he meant he was "frugal", which I presumed from knowing him, that HE SHOULD WEAR THAT LIKE A BADGE OF HONOR instead of being embarrassed by it. (Somehow, we have gotten very UPSIDE-DOWN re deciding what's important, re material things, since the 70's, when I was a teen).
To the extent that as a retiree, I have some extra income I'm comfortable parting with, I'd much rather use it to provide income, quality education and security for my sister and her kids. Or help our local homeless and troubled vet population, with long term security, counseling, job training, etc. through a well vetted and efficient foundation who provides for such folks. VS, say having a late model car with an "L" on it, an expensive house, fancy clothes, or any other outward marker of "success" or "status".
How did the first world get so crazy that for a huge proportion of the populace, keeping up with some imagined Joneses, re an income level much higher than one has, no matter how MUCH income, one has, become normal?
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.