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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]530k HHI

Not saving much outside of retirement and 529s

Retirement is around 100k into 401ks + 120k deferred comp.

We spend a lot maintaining our house and enjoying our life.  My parents will pass a large brokerage account to me when they die and I find it sad they didn’t enjoy the money when they were young.  I’m not interested in skipping vacations and wearing bad clothes so my kids can inherit my money.  [/quote]

Totally agree. I’m the poster above with 500k cash comp.  My parents pinched pennies their whole lives.  They inherited a lot from my grandparents, adding to their brokerage accounts, but never leading them to spend more.  Now in retirement they still don’t spend and act like replacing a 50 year old chair would lead them to financial ruin.  Now they’re aging quickly and rapidly losing the opportunity to use their money.

It’s pathological.

My goal is to bring some balance between now and later, because later may never come.  [/quote]

This.  it is pathological.  I’m so sick and tired of hearing about how I parents with a 4 million net worth can’t afford to install a new fence.  Or my dad stealing my newspaper every day because he doesn’t want to spend money subscribing to the WSJ.

What’s sad is I’ll inherit all of the money.  I save properly for retirement and college is already funded.  I’ll be purchasing an apartment in NY, Porsche panorama, large boat and putting $250k into an account for each child as a down payment fund.  I have no interest in dying with an enormous brokerage account.  I want to enjoy ski trips, a safari with my family, new boobs etc.

[/quote]

I know this might be strange, but hear me out:  some people actually don't feel the compulsion to change the boobs that God gave them, so saving is a default option for excess money.[/quote]

Your parents saving 4 million for retirement is  not outrageous pathological hoarding of assets.  4 million generates an annual income of 140-160k--which is plenty to live on in retirement, but not a wild spending spree.  The thing that is hard is that in order to not be in danger of outliving your assets, you do have to manage them.  If your investments do really well and you don't get a major illness or need a long-term medical stay, you might end up passing a lot on to your heirs.  But if you retire into a more down market time, inflation is higher etc. one spouse going needing long-term care can deplete a lot of it.  It sometimes becomes pathological, but if your parents are spending over 100k a year on their 4 million, they are probably just being appropriately prudent.  [/quote]

They don’t spend principle.  The money distributed from retirement accounts gets put in CDs.  They have a paid off house and live off of 50-60k a year in social security and pensions.  [b]Sorry but I think it’s weird to be trying to hoard money and increase net worth in retirement.[/b] [/quote]

If someone owns a private family business, like a farm, for example, is it weird to you that they would keep the farm operating and generating profits that they can live on in retirement, while planning to pass the farm on to their heirs? Or is the only non-pathological option to slowly sell off acreage every year and find material possessions to spend the money on?

It's no different for those of us who prioritize any sort of investment ownership and growth. It doesn't matter if it's a farm, a collection of rental properties, or a portfolio of stock holdings. [/quote]

Lol it most certainly does matter. A farm produces something of real value to customers that the owner is actively involved in, and perhaps built with their own blood sweat and tears. Anyone can buy a stock portfolio. The fact you see it as analogous points toward the PP's allegation of pathology [/quote]

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