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Marcia's avatar

There is a lot of truth in what you write. I may be guilty of poor planning, but I want to live as cheaply as possible, in order to leave some money behind so that my children and grandchildren can pursue their dreams. Sadly we sometimes forget that we are not the only elders that have contributed to our children’s view of life, in those cases they may squander what we leave behind. ..we can only plan the plan, not the outcome.

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The Working Class Investor's avatar

This is somewhat true of my own family - absolutely nothing until a few generations ago, great grandparents worked hard and that combined with prevailing economic forces made them comfortable, grandparents ended up significantly better off than them, and my grandfather retired at 55 in comfort, my mother on the other hand squandered an inheritance and lives beyond her means now. I'll probably have to sell her house (inherited) to be able to keep her out of poverty in old age.

What took a few generations to build will likely be gone in one and I have to start over, which is fine, but not ideal.

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