Cheap and stingy parents

[Anonymous]

just a vent to be honest.

the In-Laws live in a modest 55+ community and it took a lot of effort to get them to move about 5 years ago. It was great.
the old house was run down and needed to be updated.

The lived conservatively, nice cars but 10 years old, vacations but nothing flashy. we always worried that they would run out of money.
They wouldn't get a new dishwasher even though the last one was a POS. Mostly due to the FIL who ran the house.

FIL passes away and we find out they have $7mm investment account.

Really wish they were able to enjoy the $$ and use the money to make their lives easier - getting a cleaning lady, other help around the house, nicer meals out.

hopefully the MIL decides to live life a bit easier but frugality is hard wired into their brains.

[Anonymous]

My dad was like this. The week after he died it was like my mom won the lottery. Brand new car (had never had one in her life), booked tons of travel, planned a big addition on her house. It’s gross.

[Anonymous]

Doesn't sound like it's any of your business OP. Are you worried your MIL was "forced" to live like that? I don't see where you come in the picture.

[Anonymous]

You can look at this a couple of different ways. I think you have to take a generous view and think he was more concerned with making sure that his money would last his whole life and his wife would not want for anything after he passed than that he was cheap or stingy. Many older people keep using old appliances that aren't functioning at top performance because using something until it actually dies was just the way things went.

[Anonymous]

They get to live their own lives. I think all of my Silent Generation family members live this way. They saved everything. In my opinion, people today could learn at lot from this perspective.

[Anonymous]

Anonymous wrote:My dad was like this. The week after he died it was like my mom won the lottery. Brand new car (had never had one in her life), booked tons of travel, planned a big addition on her house. It’s gross.

What's gross about it?

[Anonymous]

Anonymous wrote:Doesn't sound like it's any of your business OP. Are you worried your MIL was "forced" to live like that? I don't see where you come in the picture.

It's her family, that makes it her business.

And she's not telling anyone what to do, just expressing that it's too bad that her IL's frugality has led to them not enjoying their money, which I think is an empathetic take.

I understand because I have similar feelings about my MIL. My FIL was very controlling when he was alive and wouldn't allow them to do a lot of things they could afford to do. Now that he's gone MIL is doing some of those things but she also often expresses that she feels guilty when she does them, like she shouldn't be spending the money (HER money, fully half of it is from her pension and savings, she worked for 30 years). DH and I both strongly encourage her to spend it without guilt and remind her she deserves to enjoy her life. But it is sad to me that it's so hard for her to do so, in part because FIL really criticized/restricted spending money on anything that wasn't completely necessary, and she still lives in that shadow.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn't sound like it's any of your business OP. Are you worried your MIL was "forced" to live like that? I don't see where you come in the picture.

It's her family, that makes it her business.

And she's not telling anyone what to do, just expressing that it's too bad that her IL's frugality has led to them not enjoying their money, which I think is an empathetic take.

I understand because I have similar feelings about my MIL. My FIL was very controlling when he was alive and wouldn't allow them to do a lot of things they could afford to do. Now that he's gone MIL is doing some of those things but she also often expresses that she feels guilty when she does them, like she shouldn't be spending the money (HER money, fully half of it is from her pension and savings, she worked for 30 years). DH and I both strongly encourage her to spend it without guilt and remind her she deserves to enjoy her life. But it is sad to me that it's so hard for her to do so, in part because FIL really criticized/restricted spending money on anything that wasn't completely necessary, and she still lives in that shadow.

That is not for her (or you) to decide.

[Anonymous]

Anonymous wrote:just a vent to be honest.

the In-Laws live in a modest 55+ community and it took a lot of effort to get them to move about 5 years ago. It was great.
the old house was run down and needed to be updated.

The lived conservatively, nice cars but 10 years old, vacations but nothing flashy. we always worried that they would run out of money.
They wouldn't get a new dishwasher even though the last one was a POS. Mostly due to the FIL who ran the house.

FIL passes away and we find out they have $7mm investment account.

Really wish they were able to enjoy the $$ and use the money to make their lives easier - getting a cleaning lady, other help around the house, nicer meals out.

hopefully the MIL decides to live life a bit easier but frugality is hard wired into their brains.

Some people enjoy their money more with it sitting in an account and growing. Don't put your values on other people; it doesn't help or even work.

[Anonymous]

Its their choice, they may have been worried about paying for long term care.

[Anonymous]

Anonymous wrote:They get to live their own lives. I think all of my Silent Generation family members live this way. They saved everything. In my opinion, people today could learn at lot from this perspective.

+1 People who lived through the Great Depression are a different breed.

I don't wash out bread bags and hang them on the line but I still have every cent of the money my grandparents gave me at college graduation plus the increase on investing it.

I lost my job in 2009 and could still afford my lifestyle for 9 months because of good conditioning from living frugally.

[Anonymous]

Anonymous wrote:You can look at this a couple of different ways. I think you have to take a generous view and think he was more concerned with making sure that his money would last his whole life and his wife would not want for anything after he passed than that he was cheap or stingy. Many older people keep using old appliances that aren't functioning at top performance because using something until it actually dies was just the way things went.

And those appliances will last longer than a new one purchased today, even if not at top performance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can look at this a couple of different ways. I think you have to take a generous view and think he was more concerned with making sure that his money would last his whole life and his wife would not want for anything after he passed than that he was cheap or stingy. Many older people keep using old appliances that aren't functioning at top performance because using something until it actually dies was just the way things went.

And those appliances will last longer than a new one purchased today, even if not at top performance.

Oh BS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can look at this a couple of different ways. I think you have to take a generous view and think he was more concerned with making sure that his money would last his whole life and his wife would not want for anything after he passed than that he was cheap or stingy. Many older people keep using old appliances that aren't functioning at top performance because using something until it actually dies was just the way things went.

And those appliances will last longer than a new one purchased today, even if not at top performance.

Oh BS.

Not necessarily "BS." DP

[Anonymous]

My FIL is like this. He’s worth tens of millions and gets stressed if we don’t pull our credit card out super fast to pay for his meal at the McDonald's drive through. Refuses to pay someone to fix serious house problems like big leaks etc and makes us do it.

Obviously at this level and OP’s level it’s a psychological issue that isn’t going to be solved in their twilight years.