I want to strangle my mom. I love her and my parents have more than enough to retire on. But my mom doesn't it. She won't spend her money. I want to smack her so hard and tell her you can't die with it and I don't want it.
My mom is in the car with me as I'm prying out about her she feels she can't buy a house she wants. I say just buy the DAMN house. She says "oh we'd have to liquidate" and how will we afford it? I point out to her she gets SS, my dad gets SS, and she gets a pension.
Her monthly take home pay is says is $3k pension, $2k SS, Dad's SS $3k, and $1500 RMD from IRA because he's still working. She's retired and has been for 10 years and still contributing to a ROTH ira. They bring home at least $10k/month and my mom is still trying to save money.
I don't know what for. I wanted to strangle her. I said please buy a new car. Please buy a house you want or renovate it. Her car is a 20 year old Avalon that the A/C is broken in Hawaii but she just constantly refills coolant. She had a leaking roof for years because she couldn't pick a roof.
I wanted to shake her. I begged her to please stop saving. She looked me in the eye and said "oh it'll go to DK1 and DK2. You don't need it, but it's ridiculously frivilous to spend $10k/month".
I give up. I'm not even sure my mom realizes that they make more than the majority of the population. They are still earning income my dad is 86 today (happy birthday dad). They are only drawing on IRA because they have to. OMG. Why aren't they enjoying it?
This same mentality is why she tells me I have to work. The idea of actually spending what you saved for retirement seems crazy.
Do you savers plan on spending your retirement money? Or do you think when you get there you'll be living only off other stuff?
My thoughts has always been we'd draw on our retirement. I always had a plan to be done working by 50 and FI by 45. Looks completely on track, but my DH has mentioned more and more he'd prefer to work a bit longer he's not ready to jump off the hamster wheel. I get it he loves his job. But I like knowing we could.
But can working/saving become addicting? I feel like my parents have worried too much.
My parents retirement plan
October 27th, 2016 at 12:19 am
October 27th, 2016 at 03:31 am 1477539109
October 27th, 2016 at 12:54 pm 1477572894
October 27th, 2016 at 06:13 pm 1477591981
October 27th, 2016 at 06:51 pm 1477594294
Because I don't want to wait longer than I have to, i've always intended to spend down my retirement assets; my only heirs will be a few nieces/nephews but I'm not setting about to save anything for anyone. But my home will remain behind, of course.