Personal finances

Monello

Smarter than the average bear
PREMO Member
I have a few real life observations.

I had an uncle that I wasn't close to. Most likely he had dyslexia as a child. He didn't do well in school. He never drove. He wore pretty thick glasses. He never married. He worked in a diner for 42 years. Walked to work 5 days a week. He lived in a modest senior housing apartment. When he died he was more or less penniless. He did have his final arrangements all straightened out, including providing the undertaker with the suit he wanted to be buried in.

Another familial example. My grandfather was 1 of 11 children. 1 of his sister's, my mom's aunt never married. My great grandparents left my mom's aunt the family home since she was still at home when my GGM passed. Growing up we considered her our aunt, even though she was my mom's aunt. She was a naval officer during WWII. She was a nurse by profession. She never moved out of the family home she inherited. When she passed away, she had a mortgage on the house. She didn't live an extravagant lifestyle. I don't recall how old she was when she passed but she had to be at least 70 if not more.

In both cases you had 2 people who worked for decades, never had kids but pretty much died with not much materially to show for their labor. I try to use other people as my lessons in life. Some people are the example of what to do while others are the what not to do example.

So is it just me or does it seem highly unlikely in both of the above examples that there was a lot of effort with little to show for it. Granted I'm not a big material person but you would think a person would have something to show for 40 years of labor.
 
Sounds completely typical too me. Not sure what you would expect either of them to have if they had single income and lived paycheck to paycheck.
 

Bobwhite

Active Member
I have a few real life observations.

I had an uncle that I wasn't close to. Most likely he had dyslexia as a child. He didn't do well in school. He never drove. He wore pretty thick glasses. He never married. He worked in a diner for 42 years. Walked to work 5 days a week. He lived in a modest senior housing apartment. When he died he was more or less penniless. He did have his final arrangements all straightened out, including providing the undertaker with the suit he wanted to be buried in.

Another familial example. My grandfather was 1 of 11 children. 1 of his sister's, my mom's aunt never married. My great grandparents left my mom's aunt the family home since she was still at home when my GGM passed. Growing up we considered her our aunt, even though she was my mom's aunt. She was a naval officer during WWII. She was a nurse by profession. She never moved out of the family home she inherited. When she passed away, she had a mortgage on the house. She didn't live an extravagant lifestyle. I don't recall how old she was when she passed but she had to be at least 70 if not more.

In both cases you had 2 people who worked for decades, never had kids but pretty much died with not much materially to show for their labor. I try to use other people as my lessons in life. Some people are the example of what to do while others are the what not to do example.

So is it just me or does it seem highly unlikely in both of the above examples that there was a lot of effort with little to show for it. Granted I'm not a big material person but you would think a person would have something to show for 40 years of labor.

Perhaps they were happy, satisfied and comfortable with what they had. If that's so, then they were richer than Donald Trump.
 

GURPS

INGSOC
PREMO Member
So is it just me or does it seem highly unlikely in both of the above examples that there was a lot of effort with little to show for it. Granted I'm not a big material person but you would think a person would have something to show for 40 years of labor.


Previous Generations were more modest ?

when my grand mother pass in her 90's, in 2005
[grand pa passed away yrs earlier]

there was the house she had live in since the 1920's, [IIRC] built in 1905 by my Grand Fathers Parents,
the car she had not been able to drive in many years because of Alzheimers
and about $ 30,000 in the bank


My Grand Father had world the Steel Mills in Pittsburgh ... long retired
My Grand Mother had not worked a paid JOB in decades ...

... other than sewing Wedding Gowns for my various cousins and vestments for the Priests at the Town Church [I'm not sure she was paid for this]

I think they lived off of my grand fathers retirement and SSI

for many years my grand father bout a new car every 2 yrs ...
I think that was to maximize dependability the only time he broke this cycle a car was in a decent accident, and while repaired he traded it in as soon as he could
 

Kyle

ULTRA-F###ING-MAGA!
PREMO Member
All the accumulated money was probably buried in the walls and under floorboards.

Whoever renovates the house will appreciate it.
 

nutz

Well-Known Member
I knew a lady (74 at the time) that sold her place, did owner financing to increase her income stream. She bought a new place on the water and got a 30 year mortgage. I asked why would you? Her reply, Ill never pay it back in full and I’m spending what I have on me, screw everybody else. I dont think she was completely wrong.
 

frequentflier

happy to be living
My Dad, now 88 and in failing health, was always self employed along with being in the Seabees for 36 years (retired Master Chief). Thankfully he has his Navy pension for he was never had an IRA. He has always been frugal and spent his money carefully. He has also always believed he needed to "leave something to the kids" when he dies. He and I have discussed this many times - spend it on yourself and your wife, leave it all to your wife, but no, he felt it is the right thing to do to leave whatever he has to us kids. Two of his children have nothing to do with him and one owes him money that he could easily pay back. So Dad and I have discussed this as well...and he is stubborn! FWIW, the two siblings that have nothing to do with him or his wife also have had no contact with me in easily 10 or more years.

Recently, I visited my Dad and I spent a lot of time with his wife, who I am very close to. It seems maybe my discussions with him worked. He and his wife did redo their wills recently and he has changed things around. My step Mom said I have two siblings that may be very surprised at the reading of his will.
 

RoseRed

American Beauty
PREMO Member
I guess I'm lucky. I have invested wisely and have a very nice nest egg when it's time to retire.
 

PeoplesElbow

Well-Known Member
It seems there are a lot of people that simply do not want to think about the future. I know some don't want to think about themselves or their loved ones not being able to support themselves and dying, but it happens to all of us.

I have known several well paid people that don't contribute to a retirement plan at all, even forgoing matching contributions.
 

SamSpade

Well-Known Member
I think family - marriage, children - changes you in this respect. I didn't marry until my early forties. The same could have been said about me.
Lived humbly, didn't have a lot. I always wondered how people with families had SO MUCH *STUFF*. At any time when I was single I could
have fit most of my stuff in one truckload. I also didn't care if I got a better job or if I went a long time between jobs. No one was depending on me.

Got married, children - and that all changed. It wasn't DRASTIC but it changed how I did everything. I still won't have a ton of money, but
I've got more to show for it.
 
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