What is the purpose of savings and assets?

[haha]

Retirement
Early retirement
Rainy days, months, years -like bad health, job loss, divorce, children or grandchildren with important health problems
Being able to buy things you want
Being able to do things you want to do
Being able to refrain from doing things that are not attractive to you (like no need to use Costco, unless you happen to enjoy Costco)
Being able to afford better food
A more comfortable old age
Being able to help other people, including giving your children or grandchildren a leg up in life
Leaving bequests.

I'm sure there are many other things, but in reading the board I became aware that one thing I really appreciate is not having to always be trying to save money. Often, I would rather just do without something than take pains to get it. I see this as an extension of early retirement. Going to work isn't the only thing that can get to be a hassle.

I'm sure many of you have your own lists of what money is for.

Ha

 

[Gumby]

Money is like my mother's fine china -- never to be used, but to be comforted in the fact that one has it in the cabinet, just in case someone important should come for dinner.

 

[REWahoo]

Sigh. Why must everything have a purpose? Can't it just "be"?

 

[Meadbh]

Choice.

 

[Dash man]

To work for me, so I don't have to.


Sent from my iPhone using Early Retirement Forum

 

[gauss]

Peace of mind... Which only increases when you reach FI.

 

[Ronstar]

Security


Sent from my iPad using Early Retirement Forum

 

[daylatedollarshort]

For me it would be to allow more leisure time for shopping at Costco.

 

[brewer12345]

"Two chicks at once"

 

[Donzo]

It's great to be able to pay for my kids University and watch them grow so much while there. Fortunately they are both really working hard and have plans in place.

Feeling safe/prepared and sleeping well. This is better than what the dollars can purchase.

 

[ripper1]

It creates conveniences!

 

[Major Tom]

I was convinced this was a post from imoldernu, until I saw that it had been posted by Ha. Quite a shock to the old system to see a post from Ha, written in a style that is not the norm for him.

 

[Meadbh]

My theory is that imoldernu is channeling haha to post philosophical posts with lists.

 

[Major Tom]

I'm glad I'm not the only one who was thinking this

 

[ER1970]

To work for me, so I don't have to.


Sent from my iPhone using Early Retirement Forum

+1

 

[Sunset]

I'm glad I'm not the only one who was thinking this

Me too, and I'm pretty new here

 

[Sunset]

Freedom, in its many forms.
The freedom to not feel anxious at work, no fear of being fired.
To be able to quit work if you want.
To be able to travel/holiday literally at the drop of a hat.
To shop where/when you want, rather than at the cheapest place in town on weekends.
To eat at restaurants when you want and not just for special occasions.
To move to a place you want to live, instead of living close to work.
To sleep in and not be concerned what time to wake up.
To forget what day it is in the week because it does not matter what day it is.

 

[Major Tom]

Oh go on then, I'll bite, but I'm afraid I won't be able to answer in a stream of consciousness/list format.

I started saving out of fear - the fear that if I didn't, I might end up one day living in a hovel eating cold beans out of a can. I simply wanted to make sure that I would always have the basic comforts and necessities - a roof over my head, food, clothing, and maybe a few small luxuries. Quite frankly, that is all I have ever wanted, and that is what my savings and assets provide for me now.

The weather has turned a bit windy and chilly recently, and my small, warm apartment, though basic by the standards of many in the first world, feels like a palace. My 3 cats are are well-fed and currently asleep, and next week, I plan to break out the hot cocoa and whiskey. Heaven

 

[34rlsa]

So I do not have to borrow.

 

[Ed_The_Gypsy]

Money buys freedom and it can also buy life itself.

 

[Finder]

Freedom of choice in a lot of areas of life

 

[scrabbler1]

To work for me, so I don't have to.


Sent from my iPhone using Early Retirement Forum

Just like my signature line

I used money to buy my way out of misery, asi n the lousy commute I had for many years. When I switched to working part-time back in 2001, I saw the income I was bypassing as the "price" to pay for getting rid of much of the misery of the awful commute. A second reduction in weekly work hours in 2007 was additional price to pay to get rid of more of my commute, and ERing was the finishing touch on the same "purchase."

 

[daylatedollarshort]

So Ha, what is not to like about Costco - free "hors d'oeuvres", food and gas at prices barely above cost, $5 deli chickens, 2% cash back memberships that can be used with a 2% cash back AM Ex card, and employees paid a living wage.

Charlie Munger shops at Costco:
USA TODAY Education - Careers TODAY

He has said "I believe Costco does more for civilization than the Rockefeller Foundation."
Munger Says Costco Beats Charity as Buffett Signs Up Donors - Bloomberg

Why pay more at other stores for the same items? If nothing else you could always give the savings to charity. Our local Costco has a lot of healthy, organic products at discount prices.

 

[target2019]

Merrill Lynch - The Grasshopper and the Ants (199…: http://youtu.be/F3ow-sq0Cy8

Short rendition of the classic Aesop fable about savings included for your enjoyment.

 

[Maenad]

Often, I would rather just do without something than take pains to get it.

I think this item bears repeating. It's far easier to save when you change your mindset from "it's easy to just go buy it" to "it's a hassle to go buy it".

I think I'm still more in the former mindset than the latter, but it's something I want to work on. Thanks for the reminder.