That ship has sailed, what will happen to these folks?

[Milton]

Quote:

Originally Posted by GregfromTexas I know some people saving little or nothing for retirement and living large. I suppose it's a choice and a tradeoff and I won't judge them unless they have their heads in the sand about it.

Probably not a deliberate choice in most cases: they do indeed have their heads in the sand, in the sense that they pay no attention to tomorrow and assume that somehow everything will magically work out without any sacrifice on their part.

IMO, such people should not be judged unless they repeatedly lament their lot in life, which becomes rather tiresome. It's even worse when they imply that those who have become, or are becoming, FI are merely lucky.

[SunnyOne]

I've given away a lot over the course of my lifetime, so leaving an estate is not very important to me.

A 3-4% SWR, a couple pensions and SS could work out well, still fine tuning.

Tres

[GregfromTexas]

Quote:

Originally Posted by Milton Probably not a deliberate choice in most cases: they do indeed have their heads in the sand, in the sense that they pay no attention to tomorrow and assume that somehow everything will magically work out without any sacrifice on their part. IMO, such people should not be judged unless they repeatedly lament their lot in life, which becomes rather tiresome. It's even worse when they imply that those who have become, or are becoming, FI are merely lucky.

LOL yeah. I guess I've gone from being annoyed at the dolts who think success in life is about luck and/or that I owe them for whatever success I've achieved to almost literally not even hearing them any more, so I didn't factor that. Shame on them.

Ironically enough, some people I've known are capable of dealing with anything that comes their way without much preparation because they are smart, work well under pressure, are willing to take risks, and sometimes it is exactly these people who can never imagine a day when that might not be so.

I remember a conversation with one genuinely impressive guy who was brilliant, charismatic, working insane hours like it was a walk in the park, earning vast sums and spending it profligately while abusing his body with no sleep and large quantities of single malt. I asked him what he was going to do when he got older and his response was that he plans to be dead by 50

[Chuckanut]

Quote:

Originally Posted by GregfromTexas N I remember a conversation with one genuinely impressive guy who was brilliant, charismatic, working insane hours like it was a walk in the park, earning vast sums and spending it profligately while abusing his body with no sleep and large quantities of single malt. I asked him what he was going to do when he got older and his response was that he plans to be dead by 50

Sounds like he was a relative of a former neighbor of mine whose retirement plan was to inherit his uncle's gold coin collection.

[Jay_Gatsby]

Quote:

Originally Posted by highlow65 Uncle Sam will come and take from the savers again, something else you need to plan for

Agreed. There will be wealth redistribution, exactly what form it will take remains to be seen.

[FUEGO]

Quote:

Originally Posted by GregfromTexas I asked him what he was going to do when he got older and his response was that he plans to be dead by 50

A couple of guys up the street from me executed on that plan pretty well. RIP. So far one of the surviving family sold the family house and moved (don't know if out of necessity or emotions). The other appears to be doing the same soon.

[Milton]

Quote:

Originally Posted by GregfromTexas I guess I've gone from being annoyed at the dolts who think success in life is about luck and/or that I owe them for whatever success I've achieved, to almost literally not even hearing them any more, so I didn't factor that. Shame on them.

Yes, best to tune them out rather than letting the negativity get you down.

Luck certainly plays a large role in life: we all have inherent advantages or disadvantages that we are born with, and just being in the right place at the right time can make a tremendous difference. So, no one should be too self-satisfied with their personal success. That said, it is true that to some extent we are all capable of 'making our own luck': hard work and consistent application generally pay off.