fifi69 Posted July 12, 2014 Share Posted July 12, 2014 If you do, why do you do it? a few years ago at my grandads funeral, I walked around the headstones. A lot of people seemed to have died in there 40's, 50,s early 60,s. i went home that night and cancelled every insurance policy and pension we had. im great at saving, but only do it now for something I want in the here and now. i refuse to squirrel away money just to leave to my daughters, nobody helped us, and I feel we've done our bit on setting them on the right career path. all I see is the more you save for your old age, the less help you get. My dad died while planning his retirement, that's made me more want to enjoy what I have now. are you not enjoying life, because your saving for a future you may not have? Link to comment Share on other sites More sharing options...
MovingtoTasmania Posted July 12, 2014 Share Posted July 12, 2014 Saving for retirement is something that I think we should all do but then I think "Sod it, I may not make it". It's hard to know what to do for the best. Enjoy life now and sod tomorrow (after all we can always become "escorts" in our old age) or be sensible, deprive ourselves and save hard, and still be living in penury as pensioners. Hard choices. Probably best just to enjoy life now and drop dead the day you retire! Link to comment Share on other sites More sharing options...
blossom Posted July 12, 2014 Share Posted July 12, 2014 I have been saving. I'm going to have my first child this year and fully plan to use that money to spend as much time off work with baby as I can. :-) Link to comment Share on other sites More sharing options...
fifi69 Posted July 12, 2014 Author Share Posted July 12, 2014 I have been saving. I'm going to have my first child this year and fully plan to use that money to spend as much time off work with baby as I can. :-) So your saving for a reason, and such a noble cause. but will you save for a retirement that you may or not have the good fortune to enjoy? or will you squirrel away money for your new borns future? Or will you show them that hard work equals a nice life? Link to comment Share on other sites More sharing options...
caramac Posted July 12, 2014 Share Posted July 12, 2014 We only save money for spending! We have good pension provision and do have life insurance, but imo, life is about experiences and having as much fun as you can while you can. Like you, I've known too many people spend their time saving only to either drop dead youngish, or develop a horrible debilitating or life limiting disease which means they can't enjoy their money. I don't care about things, but I couldn't live without holidays, so much so that I've taken on another job to pay for an extra one every year. Link to comment Share on other sites More sharing options...
fifi69 Posted July 12, 2014 Author Share Posted July 12, 2014 We only save money for spending! We have good pension provision and do have life insurance, but imo, life is about experiences and having as much fun as you can while you can. Like you, I've known too many people spend their time saving only to either drop dead youngish, or develop a horrible debilitating or life limiting disease which means they can't enjoy their money. I don't care about things, but I couldn't live without holidays, so much so that I've taken on another job to pay for an extra one every year. I get that, all my extra money when I lived in the UK, used to go on hols. Wonderful memories. Had the most amazing hols. so your not saving your money for your kids? Link to comment Share on other sites More sharing options...
Que Sera Sera Posted July 12, 2014 Share Posted July 12, 2014 My Dad died at 40 and my Mum 63 s many times I think what's the bloody point. We are saving now but only because circumstances have dictated that we can. There's no getting away from it , it does give you a fantastic sense of peace. But who knows what the future holds. Link to comment Share on other sites More sharing options...
caramac Posted July 12, 2014 Share Posted July 12, 2014 I get that, all my extra money when I lived in the UK, used to go on hols. Wonderful memories. Had the most amazing hols. so your not saving your money for your kids? We've paid/are paying for their education and I'm sure there will be money for them when we die (depending on how long we live :wink:), but no, not actively saving for them. My oh's parents put money aside for them when they were born and that is helping to fund uni, holidays etc for them, but the eldest has just spent the past (gap) year working 55-70 hours a week in a country hotel to fund her own 5 week holiday in Japan (should have just landed now!), plus other things - car, weekends away etc, and the sense of achievement she has got from that is immense. I think they should develop a good work ethic early on and learn that the rewards are worth the effort. Link to comment Share on other sites More sharing options...
HappyHeart Posted July 12, 2014 Share Posted July 12, 2014 If you do, why do you do it? a few years ago at my grandads funeral, I walked around the headstones. A lot of people seemed to have died in there 40's, 50,s early 60,s. i went home that night and cancelled every insurance policy and pension we had. im great at saving, but only do it now for something I want in the here and now. i refuse to squirrel away money just to leave to my daughters, nobody helped us, and I feel we've done our bit on setting them on the right career path. all I see is the more you save for your old age, the less help you get. My dad died while planning his retirement, that's made me more want to enjoy what I have now. are you not enjoying life, because your saving for a future you may not have? :notworthy:...Pretty much echoes my philosophy... Link to comment Share on other sites More sharing options...
fifi69 Posted July 12, 2014 Author Share Posted July 12, 2014 My Dad died at 40 and my Mum 63 s many times I think what's the bloody point. We are saving now but only because circumstances have dictated that we can. There's no getting away from it , it does give you a fantastic sense of peace. But who knows what the future holds. But are you saving for you n OH to enjoy, for whatever you want. or are you saving for old age or to leave for the kids xx Link to comment Share on other sites More sharing options...
MovingtoTasmania Posted July 12, 2014 Share Posted July 12, 2014 So your saving for a reason, and such a noble cause. but will you save for a retirement that you may or not have the good fortune to enjoy? or will you squirrel away money for your new borns future? Or will you show them that hard work equals a nice life? I know this will sound harsh but I am not going to squirrel any money away for my children. With my two youngest it's different as they are still primary school age, but the next youngest is 19 and more then capable of earning a living himself. The oldest is 30 next year and the second one is going be 28 next week. Those two seem to have an attitude that me and FD sh1t money every morning as last week, second one asked me to "give" him £9k and three weeks before that, oldest one asked me to give him £10k for his wedding (no chance, we paid for his first one and what a debacle that marriage turned out to be) and also our house :wideeyed: You can probably imagine my response to those requests! Nope, having spent thousands on my children since they left home, what with kitting out various flats and houses, buying for grandkids etc., there is no more forthcoming for them and now my focus is on myself and the children that still live at home. The ones who have left and had children can sink or swim accordingly as no-one died when I had a kid and left me millions. Link to comment Share on other sites More sharing options...
HappyHeart Posted July 12, 2014 Share Posted July 12, 2014 We save what we can...and it gets spent regularly...mostly on holidays...I like to get away for a few days every 3 months or so.... I don't believe in insurance policies.... Since moving here we find it easier to save and it's nice to have a 'buffer' I wouldn't save and squirrel it away and I wouldn't want my parents to do the same...go on a bloody cruise or something..enjoy your money! Memories are worth much more.... Seen too many people wait...wait and look forward to retirement...work their arses off for what?? No...I believe in living for the here and now....don't put off good times... It's only money...we come into the world with nowt...leave it same way! Link to comment Share on other sites More sharing options...
fifi69 Posted July 12, 2014 Author Share Posted July 12, 2014 We save what we can...and it gets spent regularly...mostly on holidays...I like to get away for a few days every 3 months or so....I don't believe in insurance policies.... Since moving here we find it easier to save and it's nice to have a 'buffer' I wouldn't save and squirrel it away and I wouldn't want my parents to do the same...go on a bloody cruise or something..enjoy your money! Memories are worth much more.... Seen too many people wait...wait and look forward to retirement...work their arses off for what?? No...I believe in living for the here and now....don't put off good times... It's only money...we come into the world with nowt...leave it same way! Lovely way of thinking . We have the best of life on our doorstep. totally agree with you. Myself and OH started from scratch, no financial help at all. so surely, any extras we have now, we have worked for....so why not enjoy them? Link to comment Share on other sites More sharing options...
NicF Posted July 12, 2014 Share Posted July 12, 2014 I have life insurance so if anything happens to me my OH will be able to pay off the mortgage and stay in the house with the kids. He has it for the same reason. We save for a rainy day. In case one of us ends up out of work, in case we need a new roof or new white goods, in case we need medical procedures that aren't fully covered by Medicare. We also save to pay for things we want, like holidays, trips to the UK, an IMac, new sofa, a gas fire, solar panels etc. We both have supers (no choice here) but neither of us puts any more in than our standard contributions. I'd rather use the money to pay off the mortgage now rather than once we are retired. I certainly will not be saving to leave it all to my kids however. Although if we have the money we may help them to go to Uni. And I don't expect my parents to live a frugal life so they can leave loads to me and my brother either. Link to comment Share on other sites More sharing options...
caramac Posted July 12, 2014 Share Posted July 12, 2014 We save what we can...and it gets spent regularly...mostly on holidays...I like to get away for a few days every 3 months or so....I don't believe in insurance policies.... Since moving here we find it easier to save and it's nice to have a 'buffer' I wouldn't save and squirrel it away and I wouldn't want my parents to do the same...go on a bloody cruise or something..enjoy your money! Memories are worth much more.... Seen too many people wait...wait and look forward to retirement...work their arses off for what?? No...I believe in living for the here and now....don't put off good times... It's only money...we come into the world with nowt...leave it same way! This is me exactly. We've just done a three day trip to London with our two youngest and had a fantastic time. Yes, the financial buffer was there, but for spending, not saving. We had a ball. Off to Malta in a couple of weeks and will go to Spain to see mil at Christmas. Yes, we could save that money, but for what? I have no interest in paying of a mortgage early, or saving any more for retirement. As long as it's money you have and not on credit cards etc, just enjoy it! Link to comment Share on other sites More sharing options...
louisella Posted July 12, 2014 Share Posted July 12, 2014 We're saving but that is for a purpose (move to Oz) - we do have pension plans although I am doubtful about them. There's no way I'd expect either of my parents to save so I have an inheritance, I'd be quite disappointed to think they missed out because of that and would prefer to think they spend it and enjoy themselves. It really annoys me when grown adults 'expect' their parents to keep funding them - if you're old enough to leave home, have a job etc then you're responsible enough to fund yourself Link to comment Share on other sites More sharing options...
Lindor Posted July 12, 2014 Share Posted July 12, 2014 I haven't saved money for a while. I used to save £2 coins and £5 notes back home. Should start again. I don't have life insurance now, did at home and I keep thinking I should sort some out to ship me home when I die! I wouldn't expect my parents to leave money, they struggled when I was little and should enjoy what they've got now, though my sister always said they're spending our inheritance whenever they went on holiday or bought themselves something and it really p****d me off. When I worked in A/E we often got men in who had collapsed and died not long after retirement, it was really sad, so I think spend your money, don't hide it under the mattress for your relatives to get when you die! Link to comment Share on other sites More sharing options...
ScotsQuine Posted July 12, 2014 Share Posted July 12, 2014 My dad always told us to make sure you leave enough money in your bank account to pay for your own funeral, and spend and enjoy the rest of it while you are alive! edited to add that he died debt free and happy Link to comment Share on other sites More sharing options...
Gbye grey sky Posted July 12, 2014 Share Posted July 12, 2014 We have been saving hard but that is due to the move and our ambition to get off that bloody treadmill and retire as soon as possible. We are planning on living a long time and hopefully stay healthy and to enjoy retirement need that bit behind us. Unless you know the date you are going to die it is difficult not to leave some for your child (in our case). My first wife always believed and still does that she wants to die with as much debt as possible but then she has no dependents. That also means she is probably going to have to work until she dies too. Her saying is " i could be dead tomorrow" but if you survive tomorrow you are screwed. One of the reasons she is my ex. It is not IMO a choice either/or. I think you can live now and, while you are working, save for that time when you really want to stop. Link to comment Share on other sites More sharing options...
tonyman Posted July 12, 2014 Share Posted July 12, 2014 yes I have $25 in my grasp ...... Link to comment Share on other sites More sharing options...
jac2011 Posted July 12, 2014 Share Posted July 12, 2014 We have been saving for this move to Aus, prior to that it was for me starting university and relocating across the UK. Once in Aus, we will be saving for a deposit on a house, after that we would like to have enough to give the children an allowance whilst they are at uni (kinda like an incentive to go) of say $100pw. We would also like to have enough to give them driving lessons (I never had enough money to do this and I am 32 now) and perhaps $10k each towards a house deposit to encourage them to settle down and be sensible with their money. It sounds a lot but its all things that the OH and I went without and what made it almost impossible to go to university or to pursue a job of our dreams. It may not be possible but that is the plan... Link to comment Share on other sites More sharing options...
Gbye grey sky Posted July 12, 2014 Share Posted July 12, 2014 We have been saving for this move to Aus, prior to that it was for me starting university and relocating across the UK. Once in Aus, we will be saving for a deposit on a house, after that we would like to have enough to give the children an allowance whilst they are at uni (kinda like an incentive to go) of say $100pw. We would also like to have enough to give them driving lessons (I never had enough money to do this and I am 32 now) and perhaps $10k each towards a house deposit to encourage them to settle down and be sensible with their money. It sounds a lot but its all things that the OH and I went without and what made it almost impossible to go to university or to pursue a job of our dreams. It may not be possible but that is the plan... Really laudable objectives. Don't make it all sacrifice though. Link to comment Share on other sites More sharing options...
jac2011 Posted July 12, 2014 Share Posted July 12, 2014 I know, we possibly wont achieve everything but that is the long term plan for now. My husband and I were given nothing and basically set loose on our way at 18 without a penny to our name. I went to uni but due to my parents income was entitled to the bare minimal loans, however my parents never contributed as the theory goes with student loans. Therefore I had to work and eventually through exhaustion my studying suffered and I quit uni. It is therefore my mission to make my children know there are rewards for hard work. My son aims to buy a chocolate shop (he is only 8) and therefore we said, if that's what you want to do, as long as you go to uni study business etc we will help you start your own business... To us, living in Australia is living our dream, as long as we can have nice food, a peaceful home in a nice location then we will be happy for a good few years. I have found since planning my future in advance, the majority of it becomes achievable... By letting time pass without aiming for anything, nothing gets achieved... Link to comment Share on other sites More sharing options...
Guest51810 Posted July 12, 2014 Share Posted July 12, 2014 Yeah I am at the moment but it's going terribly.. I'm trying not to worry about it too much. It'll still be an improvement on what I had before I came here. Mines is for a trip to Australia and probably need a new laptop eventually too Link to comment Share on other sites More sharing options...
BritChickx Posted July 12, 2014 Share Posted July 12, 2014 I'm only saving for myself!! Right now it's for moving out, then i'll start saving up for a holiday next year. Link to comment Share on other sites More sharing options...
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