what good is a big nest egg if you don''t spent ...

[Dancing Fire]

a dime of it before you die?

maybe its another cultural thing,but many of the older Chinese generation just save every penny they made in their whole life and passed away w/o spending a dime. i mean,what the heck...you can''t bring it with you.

i don''t understand these kind of people

lunch time!!

 

[NewEnglandLady]

Parents save money so they can leave it with their children even though their children want the parents to spend it on themselves.

 

[jaysonsmom]

Date: 4/22/2010 3:08:15 PM
Author:Dancing Fire
a dime of it before you die?

maybe its another cultural thing,but many of the older Chinese generation just save every penny they made in their whole life and passed away w/o spending a dime. i mean,what the heck...you can't bring it with you.

i don't understand these kind of people

lunch time!!

You just described my parents! They save save save, and don't spend ANYTHING on themselves, but they are super generous about giving the money to their kids and grandkids

. They put my brother and I through college, grad schools (without us ever paying a cent in tuition or living expenses), they gave both my brother and I hefty down-payments for our houses, and they are always giving my kids hefty red envelopes....but my mom and dad wear socks that are older than me!


I forgot to add....I think it gives them pleasure to give use nice things. Another eg, my mom quilts, and makes herself quilted bags which she carries everywhere. She buys me designer handbags.

 

[iheartscience]

Yeah I don''t get that, either. I make my own money! I always tell my parents to spend every cent. My dad always says he wants his last check to bounce!

However, he''s way too sensible to ever really spend all of their money!

 

[zhuzhu]

Spending pattern is a learned behavior, not a result of logical thinking. Older generations have been very poor at times in their lives and they have had to be extremely frugal to make ends meet and save. I guess the behavior pattern is very hard to change.

 

[jewelz617]

Our nest egg will be going to our daughter when we die. I don't know why some people who don't have kids wouldn't spend it, but maybe some choose to leave to charity or their church, other relatives... you can't know for a fact that it's not going somewhere.

ETA: My grandmother grew up during the Great Depression and she was kind and giving, but would never spend money on herself. She would clip coupons, save e-e-e-verything she could, never made big purchases. It's not that she was cheap, she was just conditioned to save. She passed away with no debt.

 

[jaysonsmom]

Both my brother and I make good money too, that doesn''t stop our parents from wanting to give us theirs...and I have a feeling I''m going to be the exact same way as my parents. My hubby and I put away quite a bit in our kids'' college funds and our retirement. We don''t like to live it up at all!

 

[iota15]

From what I''ve seen from my grandparents, it seems to be stem from habit, past experiences (with wars, droughts, fleeing for your life type deals) and a need for security.

My mother was somewhat like this as well, except, she never made any compromises when it came to spending on us kids (lucky us).. not on frivolous things, but on things she valued - like our education, health and well-being. Those came first at any costs, and whatever promoted it was given adequate attention.

She was frugal with everything else and especially on herself. That was until the day my grandmother passed away. She realized - life is short, you can''t take any of it with you... and I''ve provided the basis to make sure my kids will be just fine without my piddling dollars. She didn''t go spending crazy but she did purchase a few high-ticket luxuries that would have been entirely out of character for her before. And she''s always going around saying, "well, you can''t take it with you!"

 

[Dancing Fire]

Date: 4/22/2010 3:49:17 PM
Author: zhuzhu
Spending pattern is a learned behavior, not a result of logical thinking. Older generations have been very poor at times in their lives and they have had to be extremely frugal to make ends meet and save. I guess the behavior pattern is very hard to change.

guess your are right.

 

[that_someone_special]

My parents save A LOT, but they also spend A LOT.. on themselves... They help us (their 3 kids) out.. sometimes, but rarely. Whatever, it''s their money.

 

[Dancing Fire]

Date: 4/22/2010 3:14:36 PM
Author: NewEnglandLady
Parents save money so they can leave it with their children even though their children want the parents to spend it on themselves.

not that my parents had any money,but if they did i would prefer they spent it on themselves.

 

[hawaiianorangetree]

Not my mum!! She keeps tellim us she will be going on lots of ski (spending kids inheritance) holidays!!

 

[Steel]

It is important to me that when DH and I pass, our child(ren) will be left with an inheritance.

It is more important that we raise happy healthy intelligent kid(s), but a little something to make their start in life a little easier, can''t hurt either can it?

 

[packrat]

Not mine! Mine discovered they love gambling several years ago.

 

[Dancing Fire]

Date: 4/22/2010 7:44:16 PM
Author: Steal
It is important to me that when DH and I pass, our child(ren) will be left with an inheritance.

It is more important that we raise happy healthy intelligent kid(s), but a little something to make their start in life a little easier, can''t hurt either can it?

it depends...i known some spoiled brats that don''t wanna get a job cuz they know they''ll be loaded once their parents kicks the bucket.

 

[Steel]

Date: 4/22/2010 8:09:14 PM
Author: Dancing Fire

Date: 4/22/2010 7:44:16 PM
Author: Steal
It is important to me that when DH and I pass, our child(ren) will be left with an inheritance.

It is more important that we raise happy healthy intelligent kid(s), but a little something to make their start in life a little easier, can''t hurt either can it?

it depends...i known some spoiled brats that don''t wanna get a job cuz they know they''ll be loaded once their parents kicks the bucket.

That can be true. But that is why I feel it is more important that the child be raised properly. IMHO, A lazy free-loader does not fit in the definition of a properly raised child.

Please feel free to disagree DF

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